Timothy Armoo represents a new type of millionaire, typical of the other values of Generation Z.
Millionaire and no house, where does he live? Timothy Armoo does not provide exact details on this, but the 29-year-old Brit has enough money in the bank after selling a company he co-founded (in the influencer marketing industry), at least 10 million euros. With that, he can practically pay for any rent or hotel for an extended period.
By the way, he grew up in one of the poorest districts of the metropolis. He shared this and more in an interview with CNBC.
Rich and traveling a lot
Why doesn’t he buy a house? He claims to see no point in it. He lives a rather simple life and does not indulge in luxury. In addition, he spends only about half of the year in his hometown of London. Otherwise, he travels a lot. But even here, less often than expected. Although he once took a first-class flight, it was already a special event.
He is not the only wealthy person who thinks this way. Billionaire Elon Musk has stated that he also lives rather Spartan most of the time, as you can read here in a post of his on x.com. He also owns a rather typical house for his wealth class, but only uses it for events:
What does Timothy Armoo do with his money? He primarily invests it, but in two very different ways. On the one hand, he puts it into classic funds, on the other hand, he also invests directly in more exotic industries. For example, he mentions a company involved in mango cultivation in Kenya.
I enjoy exploring various ways to spend and invest money.
However, he once had a million pounds (about 1.2 million euros) cashed out to keep as a rainy day fund. It has been difficult for him to adjust to not being poor and realizing:
Even if I should lose all other money, whether through bad investments in cryptocurrencies, gambling, or something foolish, I would still have this.
Meanwhile, Generation Z also has a special relationship with the office that fundamentally differs from that of previous age groups. Many of them started their professional lives during the pandemic or shortly before it and thus did not get to know the normal work routine. Now they celebrate it: Generation Z is now finding new reasons to go from working at home to the office
