Popular Nigerian media entrepreneur, Jason Njoku, has described inherited wealth as some kind of burden.
The businessman tweeted on Friday about why he and his actress wife Mary Njoku “save to spend today”.
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Jason said he and Mary have agreed not to leave too much wealth for their children.
According to him, when wealth is inherited, it usually comes with a huge burden.
He added that after ensuring the kids have sound education, “our job is done, they can fend for themselves”.
“Mrs. Mary Njoku & I save to guarantee our kids a great education. After that our job is done & they can fend for themselves. We don’t save for ourselves we spend to enjoy today,” he wrote.
“Young money is better than old money. It’s way more fun. Trying to leave as little behind as possible.
“From all I have read, inherited wealth is mostly a burden. We actually don’t buy much stuff. We spend on family experiences. Experiences we hope to gist about when we’re old and less mobile. In the end, life is to be lived.”
From all I have read Inherited wealth is mostly a burden. We actually don’t buy much stuff. We spend on family experiences. Experiences we hope to gist about when we’re old and less mobile. In the end life is to be lived
— JasonNjoku (@JasonNjoku) December 23, 2022
Njoku is the co-founder and CEO of iROKOtv, a video-on-demand service for Nigerian movies.
A self-proclaimed serial entrepreneur, iROKOtv is said to be Njoku’s 11th attempt at starting a business.
He came up with the idea of launching a new distribution platform for Nollywood whilst living at home with his mum after a number of failed enterprises.
Njoku’s failed enterprises between 2005 and 2010 included a blog network, a T-shirt business, and a web design firm.
He was born and raised in Deptford, South East London.
His mother raised him and his three sisters and brother by herself, whilst working a full-time job in the National Health Service.
He attended school in London, then moved to a village in Nigeria from the age of 12 to 15.
After he returned to the UK, he attended college to complete his A-Levels, before securing a place at The University of Manchester where he read Chemistry.
