Fast lane: Is it cool to flaunt big sums of money, wealth?

Flaunting wealth and bragging about it reveals an underlying problem in the individual. PHOTO | FILE | NATION MEDIA GROUP

What you need to know:

  • Identity crisis fuels such behaviour.
  • People splashing money on social media or taking photographs are living in a fantasy.

From the United States, the chorus “make it rain” reverberated across the globe. From Nigeria came “chop my money” (spend my money) while in Kenya we have "pesa otas"(whose literal meaning in Dholuo is “money is just a piece of paper”).

Three refrains from popular songs. Potent messages. Varied results. The bottom line is that they make it look cool for people to flaunt large sums of money and to brag about their possessions.

And whereas pop music is sometimes about jest-filled lyrics oiled by poetic licence, there are people who are ready to “make it rain” in real life, either through lavish spending or by sharing images of them swimming in cash.

South Sudanese “young tycoon” Lawrence Lual Malong Yor Jr, who is currently living in Nairobi, is just the latest to hit the headlines.

Straight from declaring on national television last weekend that he is a “very rich man”, another video emerged of him promising to “invest a lot of dollars” in the Kenyatta University Students Organisation, drawing frenetic applause from the audience around him.

SWIMMING IN MONEY

This is the same Mr Yor who had earlier been filmed “swimming” in a sea of US notes, cutting the figure of a man who has never had a money problem all his life.

The video posted online was meant to be provocative and arrogant — and it achieved its aim.

Speaking of swimming in notes, Kenya’s online community wagged tongues in 2016 when a young woman released photos of her in a bathtub, covered by crisp Sh1,000 notes.

She would later tell a local media outlet that she was adopted at the age of two, spending her formative years in Montenegro.

She added that she owned four cars. Last year, she posted a video showing wads of notes stored in a sack in her house.

So, what is the point of her actions? It is hard to tell.

UNDERLYING PROBLEM

Behavioural experts say flaunting to such an extent reveals an underlying problem in the individual.

“A person who is overly showy and has an excess need to divulge details about their financial success to the public may be suffering from a self-inadequacy of esteem and worth,” says Mr Hiram Chomba, a counselling psychologist and physiotherapist at Befrienders Kenya.

“This behaviour could also point to personality disorders such as histrionic personality disorder, characterised by non-conforming to socially acceptable behaviour or norms such as discretion and sensitivity in public places and decorum,” he adds.

“Histrionic personalities are highly impulsive and will often make decisions that they may regret later or that may cost their friendships or even jobs. A histrionic person can easily be persuaded by people’s opinion because that is what matters to them,” continues Mr Chomba.

For Prof Halimu Shauri, a sociologist at Pwani University, identity crisis fuels such behaviour.

“In today’s society, there is a crisis of identity, and everybody is struggling at least to be seen or to be known,” he says.

People splashing money on social media or taking photographs are living in a fantasy, he adds.

“That is not real. Reality doesn’t demand you show. People who are really successful are humble,” he adds.

Prof Shauri goes on: “People who have money never even show you that they have money. They would not even want to be known because there are risks involved.”

VALIDATION

It is easy to prove the sociologist’s words.

On the internet, there is hardly a photo of Africa’s richest man Aliko Dangote with cash beside him.

Neither could we find one from Nicky Oppenheimer, the second richest on the Forbes list, or Johann Rupert who is third in the ranking.

This contrasts sharply with a group of young and flashy Africans who have gone to great heights to display their riches to the world.

“Someone who has genuine resources has no challenge of identity. But for these people who are struggling with various issues in life and want to be seen that they have also succeeded, they tend to advertise themselves,” says Prof Shauri.

Mr Chomba adds that the histrionic person may appear confident in person, and even charming, but upon scrutiny you will realise that they have a great need for validation, approval and acceptance by others.

“They may have ingrained and pervasive low self-esteem,” says the expert.

There appears to be many of these in Africa. From Cape to Cairo, Mogadishu to Dakar, a number of individuals are out to show the world that they are “loaded”, and the social media has provided them a ready platform to flaunt what they have.

In Kenya, a number of individuals have gone on record bragging about the value of one thing or another that they own, or staging spectacles like the August 2015 one when Jared Otieno, who describes himself as a businessman but faces several cases of fraud in court, went to pay dowry in a delegation that used choppers and a convoy of more than 10 top-of-range cars.

From musician Prezzo to a young Nigerian pastor who posted photos of him holding a stash of money resting on his bed, the examples abound.

SPLASH YOUR CASH

The point of convergence between the flashy and the discreet, a recently released report suggests, is where the money is spent.

The report by AfrAsia Bank and New World Wealth, which focused on the spending habits of the wealthy in Africa, was released in September.

It showed that top-of-range watches, handbags and shoes are among the items wealthy Africans splash their cash on.

Top watches include a Patek Philippe model worth $25,000 (Sh2.5 million), a Breguet worth Sh2 million, an Ulysse Nardin worth Sh1.3 million and a Franck Muller one worth Sh1.1 million.

In the handbag category, a Sh3 million Louis Vuitton was among the sought-after items, alongside a Sh2.2 one from Prada and a Gucci one going for the same price.

Dress brands that tickle the fancy of the rich include a Sh2 million one from Dolce & Gabbana.

For suits, men go for a Zegna design worth Sh1.2 million or a Canali or Georgio Armani one with a similar price tag.

In the shoes categories, the rich in Africa have developed a taste for Jimmy Choo products worth Sh70,000, Prada ones worth Sh50,000, Gucci ones also going for Sh50,000, among other brands. These, however, are nowhere near the $10,000 (Sh1 million) shoes the South Sudanese “young tycoon” claimed he was wearing.

Kenyans are among those gunning for those items, as a recent report from Wealth-X — a firm that keeps records of the ultra-wealthy individuals worldwide — showed that we are in the top 10 among countries that increased the number of the ultra-rich (worth Sh3 billion or more) in 2017.

“There has been a massive skew of wealth accumulation in favour of those at the top of the pyramid, a reverse Robin Hood,” investment analyst Aly-Khan Satchu toldBusiness Dailyin reaction to the revelation.

Wealth-X said there are currently 2,490 ultra-high-net-worth individuals in Africa.

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Youth not in the list of Africa’s wealthiest

In the latest Forbes list of Africa’s top 50 dollar billionaires, only two are aged below 50, meaning that most of the youths exhibiting opulence all over are worth below Sh100 billion.

The youngest is Tanzania’s Mohammed Dewji, who has been in the news over his October 11 kidnapping. Mr Dewji is aged 43 and Forbes says he is worth $1.5 billion (Sh151 billion). He booked the spot through heading METL, a company his father founded in the 1970s.

And rather than show off, Mr Dewji in 2016 signed the Giving Pledge, “promising to donate at least half his fortune to philanthropic causes” as reported by Forbes.

Next on the age list is 45-year-old Isabel dos Santos, the oldest daughter of Angola’s former president Eduardo dos Santos. She heads Angola’s State-owned oil firm.

The third youngest is 54-year-old Stephen Saad, the founder of South Africa’s largest pharmaceuticals maker.

Next in that order is South Africa’s Patrice Motsepe, 56, the first black African to feature on the Forbes billionaires’ list.

Then there is 57-year-old Nassef Sawiris, who comes from Egypt’s richest family.

Africans who have publicly displayed riches

LAWRENCE LUAL MALONG YOR JR

Modesty and the young, sharp-tongued South Sudanese will hardly fit in the same sentence, given the way the 30-year-old has been parading his riches to the world.

He recently posted a video online in which he wanted it to be absolutely clear that he is a moneyed man.

He readily accepted that it was him in the video at aCitizen TVinterview last Sunday where his description of himself was everything but humble.

“I’m a very rich man. As you see, I’m wearing Jimmy Choo [shoes]. How much does it cost? You know it yourself. This costs $10,000,” he told host Jeff Koinange. “And the Rolex you are wearing is the one I have, with a diamond, which is $100,000 (Sh10 million).”

South Sudanese Lawrence Lual Malong Yor Jr. PHOTO | COURTESY

He went ahead to narrate how he flies on private jets and lives on presidential suites.

“I got my wealth from my Lord Jesus Christ,” he explained. “My Lord Jesus Christ blesses me.”

In one of the photos doing the rounds online, Mr Yor’s head rests in new $100 notes. The juxtaposition between Mr Yor’s half-smiling face and the indifferent visage of America’s first president George Washington on the notes, makes one think the dollars were frowning as the cameras rolled.

South African Kenny Kunene. PHOTO | FILE | AFP

KENNY KUNENE

The class of the most notorious rich South Africans is occupied by people who benefited from the failures of the Black Economic Empowerment (BEE), a programme that was instituted by the ruling party in 1994 to address economic injustices stemming from British rule.

Kenny “Sushi King” Kunene is one of South Africa’s “BEE men”, and his lavish lifestyle offers ready material for gossip-hungry blogs.

For instance, in May, he was the talk of town when he spent more than 23,000 Rands (Sh1.6 million) to buy gifts for his son who was turning one.

In an event whose photos and videos were shared on social media, Mr Kunene bought a mini-car collection of a Lamborghini, a classic Mercedes Benz, Cadillac, Ferrari and Bentley, according to South Africa’sDaily Times.

That’s not all. In February 2017, Mr Kunene took to Twitter to announce that he had just made R190 million (Sh1.3 billion) from his business, as he exchanged with a South African poet on who has achieved more.

About seven years ago, Mr Kunene’s extravagance was criticised by trade unionist Zwelinzima Vavi, who described his acts as “spitting on the face of the poor”.

In his response, Mr Kunene “corrected” a remark by his critic that he had spent R700,000 (Sh4.9 million) on a party.

“I want to correct your misapprehension that my party cost R700,000. It cost more,” he said in a statement.

Cotu Secretary General Francis Atwoli. PHOTO | FILE | NATION MEDIA GROUP

FRANCIS ATWOLI

In a live television interview two months ago, Mr Francis Atwoli who is the secretary-general of the Central Organisation of Trade Unions (Cotu), was asked to respond to people who claim he is wealthy. His reaction was markedly low on modesty.

Undervalued

“They don’t know about me. And sometimes they also undervalue me,” he replied.

“Somebody was saying, ‘Atwoli has a watch worth $20,000.’ That’s about Sh2 million. My watch is not worth that. This is Franck Muller. This cannot be a Sh2 million watch. And it’s full gold. So, sometimes also they undervalue me,” added the trade unionist.

Mr Atwoli’s flashy mode of dressing, with flashy rings and snazzy chains, all make a statement about his riches.

A case he filed early last year also provided a window into his riches, where he told the court that he offered Sh100 million as a friendly loan to former Lugari MP Cyrus Jirongo that was to be returned in 50 days.

The sum, Sh100 million, equals the one Kenya spent in constructing its first ever satellite that was launched into space in May.

Nominated Senator Millicent Omanga. PHOTO | FILE | NATION MEDIA GROUP

MILLICENT OMANGA

As last year’s election fever accelerated towards the crescendo, photos of nominated senator Millicent Omanga with a huge stash of notes did the rounds on the internet.

They were clearly in millions; given that most were tucked in polythene bags. Her face wore a wry smile as she handled one of the polythene packs.

The Jubilee politician was later asked to explain about it, and she admitted it was her in photo, only that she was not sure who took it.

Furniture deals

“Those are sales [proceeds],” she toldNTV. “I deal in furniture. Today, you come (to us) after buying a house. You want curtains, seats, kitchenware and all that. How much would you spend?”

She added: “At first I thought it was Photoshop and then I realised that’s my house. I think it’s either one of my staff [who took the photo] or something.”

But given the timing of the release, which was when Jubilee was to conduct party nominations, many observers thought it was a publicity stunt.

Ivan Ssemwanga. PHOTO | COURTESY

IVAN SSEMWANGA

Socialites are all about glitz and glamour and the late Ivan Ssemwanga, the ex-husband of famous socialite Zari Hassan, understood his trade.

On the internet, there are several photos where the Ugandan is posing with wads of cash, mostly US dollars.

He belonged to the Rich Gang Group, a known entity in Uganda and South Africa.

Members of the group made Mr Ssemwanga’s obsession with cash to literally follow him to his grave when they splashed notes in his grave, besides pouring expensive champagne into it, before he was buried.

Two citizens later sued a bank for allowing the socialite to be buried with legal tender, but a court dismissed the case.

The money is believed to have been the reason why unknown thugs vandalised Mr Ssemwanga’s grave in Kayunga, Uganda, a few days after his burial. They, however, failed to break through the concrete walls of the grave to access the body.

Nairobi Governor Mike Sonko. PHOTO | FILE | NATION MEDIA GROUP

MIKE SONKO

The very fact that he changed his name in 2012 from “Gidion Kioko” to “Mbuvi Gidion Kioko Mike Sonko” showed that the politician hardly wants his name to be among the hoi polloi.

“Sonko” has been accepted in everyday lingo as a reference to a rich person and that is a title the Nairobi Governor appears to crave.

Online, you cannot miss at least two photos where he posed with numerous Sh1,000 notes.

“Flashy” has always been his byword since he came to the limelight, and that is reflected in the clothes he wears or the chains he throws over them. Sometimes it is the rings on his fingers or his big talk.

In a June 2015 interview withNTV, he was asked about the source of his money.

“My wealth comes from God. I have brains, I have hands, and I used to deal in land deals since I was in school,” he said.

The anchor then asked: “This money that comes from God, how much is it? What is your worth?”

To which Mr Sonko responded: “You can ask God that question.”