Nigeria, by extension, Africa and the world in medieval times had a common trait in regards to amassing wealth; families were known to strategically marry in other to secure wealth or elevate social status. Although still occurring in present day, this is evident and a lot more frowned on than it was speak less of throwing in deceptions and depravities, it begins to paint a picture of what people were willing to do to join the exclusive league of the super-rich.
During his presidential campaign, Bernie Sanders mentioned how the rich are getting richer, the poor are getting poorer and the middle class are disappearing, this could not be further from the truth. Now one might ask with the poor getting poorer and the middle class disappearing, what about the wealthy? how much money do you need to be part of the 1% of the 1%, the wealthy?
According to research, the annual income of a Nigerian needs to be at least N4.6 Billion to fall under this elite category. A category, so elite that for the moderately rich they would never have this amount of money at once and for the lower class, they might not even come close to possessing such an amount of money in this lifetime and probably the next.
So, how exactly does one get to be part of the 1% of the 1%?
Aliko Dangote made his money through a cement company and other firms including flour and sugar. Mike Adenuga owns Globacom and other businesses, and Foloronsho Alakija has businesses in printing, oil and gas, and fashion. Jimoh Ibrahim is the CEO of Global Fleet Group and has amassed a fortune in oil and gas, insurance, real estate, hotels, and others. If this is not already obvious, having multiple streams of income is a must.
But does it stop there?
Wealth alone is not enough to put you in this elite group, it fluctuates, more often than the rich would like to admit; to be able to maintain this… you need perception. There is reality and then there is what people think is the reality; Donald Trump has used this strategy as far back as the 1980s.
People were willing to pay more for a product they perceive as luxury and where else those luxury starts if not from the owner.
Would you ever experience the exclusive world of the 0.01% Nigerians?
In a way, yes. Seasoned stage play director and Founder of Terra Kulture, Bolanle Austen-Peters brings you The Bling Lagosians. The film follows the Holloway family and its matriarch, Mrs Holloway, a powerful Lagos socialite, played by Elvina Ibru, and her preparation to throw an extravagantly flamboyant party for her 51st birthday. “My party must be unrivaled in the land of Eko party-dom. If any party should top mine, then we have failed woefully.” she says in the movie trailer but beneath this extravagance, her husband fights to prevent the foreclosure of their family company due to billions in unpaid loads.
The Bling Lagosians will be in cinemas from June 28th 2019.
The post What It Takes To Be In The 1% Of Wealthy Nigerians – AKA The Bling Lagosians appeared first on Genevieve Magazine.
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