His name is Aliaune Damala Badara Akon Thiam but the world knows him plainly as Akon. He’s an American-Senegalese based singer and producer introduced to us through pop culture by way of some pretty huge hits, yet little has been said about his impact as an entrepreneur. If anyone is wondering why Akon somewhat disappeared from the public eye, at least on the U.S. music scene that is, it’s because he’s been building businesses and investing smartly.
With an estimated net worth of over $80 million, there’s honestly no way to keep up with his many business ventures. He’s gone from music to real estate and tech, to agriculture and energy – yes, energy.
In 2014, he launched Akon Lighting Africa in effort to provide energy throughout his home continent. The company provides environment-friendly and cost-effective solutions to address concerns in more than two-thirds of the population of sub-Saharan Africa that are without electricity, and to reach more than 85 percent of those living in rural areas lacking access.
With a billon dollar credit line from a Chinese partner, Akon is leading a movement to illuminate Africa with more than 100,000 solar street lamps installed across 480 communities in 15 countries, along with 1,200 solar micro-grids and 5,500 jobs created.
This year, his company will begin developing utility scale renewable energy projects throughout U.S. and constructing renewable energy solutions for rural and low income housing communities.
Meanwhile, he’s launched his own cryptocurrency called Akoin and will use the currency to support the Akon’s Lighting Africa Initiative and position it to be the de facto currency in a Senegalese city he’s constructing on 2,000 acres of land gifted to him by the President of Senegal – a futuristic city he describes as “a real Wakanda.”
Never moving too far away from music, he has also purchased 50 percent stake in a music download service based in Senegal called Musik Bi that features over 200 internationally recognized artists.
So if you’re wondering what happened to Akon, you’re out of the loop and have some catching up to do.
His unique perspective as an African born in American is cradled in a heart for his homeland – a perspective grounded in the belief that the only way to build the continent of Africa is with less charity and more revenue-generating businesses that create opportunities for local people.
This bag collector is not only coming up with market-driven solutions that impact the globe, he’s proving that he’s more than music.
This post is the part of The Bag Collector series – a spotlight posts that feature serial entrepreneurs of color each recognized for their ability to diversify in business, wealth and investments. These individuals exemplify what it means to be creative and unapologetic in pursuit of entrepreneurial excellence, and ultimately collect the “bag” then use it to make greater community impact.