Pere Egbi, renowned for his participation in the Big Brother Naija reality show, recently highlighted the distinction between wise investments and frivolous spending, emphasizing the non-investment nature of owning cars.
In a candid discussion on the Spill With Phyna podcast, Pere criticized the tendency of individuals to dissipate their finances on luxurious cars. He stressed the value of landed properties and businesses as assets, distinguishing them from automobiles.
“Car no be investment. A house is an asset, a business is an asset. Using all your savings to buy cars is unnecessary.
“Right now, I don’t own a car. I used to drive a brand new lexus LS570 but I sold it because I needed to put the money into my film. It’s an investment. At the end of the day, I made more that from the film.”
Remarkably, Pere revealed his current absence of car ownership. He recounted his past ownership of a brand new Lexus LS570, which he eventually sold to finance his film project—an intentional move geared towards investment. “The returns from the film far exceeded what I invested in the car,” he added.
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During the podcast, Pere also disclosed a personal aspect of his life—his marriage at the age of 25 in the United States. He candidly shared that the marriage ended due to suspicions from his ex-wife regarding his relationship with a female friend.
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