“I can’t even spend 2% of my income”: Ghanaian business tycoon sparks conversation on wealth

Ghanaian business mogul Richard Nii Armah Quaye has ignited a lively debate on social media after revealing that his income has grown so substantially that he is unable to spend even two percent of it.

In a now-viral video shared on X (formerly Twitter), the prominent entrepreneur opened up about his financial journey, offering a glimpse into the realities of exponential income growth. He explained that while he once adhered to a disciplined savings model—spending around 20% of his earnings—his business success has dramatically shifted that ratio.

“Continue with what you are doing and do it well; your income begins to grow, so the 20% will start to become bigger for you,” Quaye advised aspiring business owners in the video.

He elaborated on his personal experience, stating, “As I am speaking with you, I am still spending below 20% of my income. In fact, where I have reached in life… as I am going forward and working hard, my income becomes bigger, bigger, and bigger. So I can tell you, I can’t even spend 2% of my income.”

Public Reaction: Admiration, Skepticism, and Caution

The businessman’s candid statement has triggered a wave of reactions online, with opinions ranging from admiration to caution.

While some users celebrated his success as a testament to hard work and focus, others expressed skepticism, questioning the origins of his wealth. One user commented wryly, “If I talk they will come after me so I will just say one thing and go and sleep. He should use his money wisely before trouble comes after him. We have seen people richer than him before.”

Another commenter sought transparency, writing, “Charley, show us how you got your money; that’s what’s important wai.”

Amidst the debate, several social media users focused on the positive, drawing inspiration from his story. “We thank God for such blessings,” one netizen remarked, highlighting the aspirational aspect of the tycoon’s journey.

Others pointed out the logical basis of his statement, noting that the percentage of income one spends is inherently relative to how much one earns.

Quaye’s comments serve as both a motivational tool for budding entrepreneurs and a talking point on the nature of immense wealth accumulation in Ghana’s business landscape.