Wealth isn’t about flaunting mansions, cars on social media – Seidu Agongo says ‘real money hates noise’

Ghanaian businessman and philanthropist Alhaji Seidu Agongo has shared his views on wealth. He believes wealth is not about luxury or social media displays. True riches come from sustainability and hard work.

In an interview with TV XYZ, Mr. Agongo challenged the idea that expensive cars mean wealth. He stated, “Using a nice car doesn’t mean I’m rich.” He emphasized that appearances can be misleading.

Mr. Agongo cautioned against flaunting wealth on social media. Many do this to attract investments or deceive others. “All we see is fraudulent money,” he said, adding that such money won’t last.

He expressed concern about people showcasing assets to gain trust dishonestly. “Those who are making noise may want attention,” he explained. This can lead to scams where people lose their money.

His comments come as social media users display perceived wealth more frequently. This trend raises questions about the authenticity of such riches. Ghana has seen financial scams involving fake wealthy entrepreneurs luring investors.

Mr. Agongo acknowledged that borrowing money for investment can be legitimate if done with integrity. “Real money can be borrowed for meaningful investments,” he noted. However, he warned against deceitful practices when borrowing funds.

“When money is taken without intention to repay, it becomes a problem,” he said. He highlighted that many such cases have occurred in Ghana recently.