Because one needs to be frugal in order to maintain their wealth, Senegalese-American singer Akon has admitted that he is "the stingiest man on the planet.

The ‘Blame It On Me’ crooner disclosed this while featuring as a guest in the latest episode of the Impulsive Podcast.

According to Akon, “If you want to stay rich, stay stingy. I’m the stingiest man on the planet.”

He also advised colleagues and fans against owning a private jet if they wanted to “stay rich.”

He said, “Whatever you do, do not own a [private] jet. Bro, owning a jet means spending at least 2–3 million dollars a year just for upkeep [maintenance]. You spend more on maintenance than the actual jet cost. This is the advice I give everybody. The money that you have now has to last you a lifetime. When you reason it that way, you are going to be very prudent.”