Akon is one of the richest men in music. The global superstar turned his hit records into a financial empire that takes care of him, his family, and a large portion of others. Throughout his career, Akon has dropped gems letting people know how he was able to acquire such massive wealth and fortune. During an interview with the Breakfast Club, the “Don’t Matter” hitmaker opened up about his 10% rule and how it is something he lives by and encourages others to live by.
Aliaume Damala Badara Akon Thiam, famously only known as Akon, is an American songwriter, singer, businessman, record producer, and actor, and more. As of 2021, Akon’s net worth is rumored to be roughly around $80 million. Akon was born in St. Louis, Missouri, on April 16, 1971, and spent much of his life between there and his family’s native country of Senegal.
Akon made his musical debut in 2004 with his breakout single “Locked Up.” The singer then made the leap to pop music with the follow-up “Lonely,” which topped the Billboard charts. This set off a chain of hit records for Akon, which included “Smack That,” “I Wanna Love You,” and “Don’t Matter.” Collaborations with David Guetta and Kardinal Offishall led to massive hits as a featured artist too. All the while, Akon was building his empire behind the scenes. The growing superstar founded two labels throughout his career, Konvict Muzik and Kon Live Distribution. Akon also invested early in the careers of T-Pain and Lady Gaga and scored major hits as a songwriter for Gwen Stefani and the late Michael Jackson.
Akon put a lot of money into philanthropy, creating a foundation called Akon Lighting Africa in 2014, which provides electricity in 15 countries of Africa. Akon then launched a charity for underprivileged children in Africa called Konfidence Foundation. The generous musician also opened up about plans to build a super city in Africa like the fictional Wakanda from the Black Panther films.
On September 1, Akon laid the first stone of the $6 billion cities, which will be called Akon City in Senegal. According to news outlets, Akon spoke a few days after the passing of Black Panther star Chadwick Boseman and said: “As you come in from America, or Europe or anywhere in the diaspora, and you feel like you want to visit Africa, we want Senegal to be your first stop.”
Eager to touch others and give them the tools to also succeed, Akon often gives advice and tries to push fans in the right direction. During the mogul’s sit down with the Breakfast Club, Akon explained his 10% rule. Akon believes that if he wants to buy something but does not already have 10% of its total worth in the bank, he will not touch it. Akon says, for example, if he is looking to purchase a million-dollar home but does not have $100k in the bank, he will not purchase the home. “I don’t touch it,” Akon told the morning hosts. @Weath reposted the video saying, “The key to staying rich is understanding how to live below your means.”