Sharon Adeleke, sister of Afrobeats star Davido and daughter of billionaire businessman Deji Adeleke, has explained that children from wealthy families, often referred to as ‘Nepo babies’, do not have unlimited access to cash as many Nigerians assume.
Speaking in a recent episode of The Moraya Show, Sharon said children of billionaires and millionaires enjoy privileges beyond those available to the average person but are still expected to manage their finances carefully.
According to her, wealthy parents may provide their children with school fees, land and other properties, but they are often expected to turn those assets into sources of income rather than simply receive unlimited cash.
“A lot of Nepo babies don’t really have access to cash the way you guys make it seem. They have more than the average person, but they are always on a budget. Your school fees are paid, you are given land and properties, but you have to make use of them,” she said.
Sharon also revealed that she holds weekly financial meetings with Davido to monitor his spending and ensure he keeps track of how his money is being used.
“Me and Davido would sit and have a finance meeting every week because I think it is important for him to know how his money is being spent,” she explained.
She further disclosed that she has advised the singer to cut back on spending money on additional luxury cars.
Her comments come after Davido recently revealed during a livestream with streamer Davrel that he paid $11 million for a custom-made Bugatti, which he said is expected to be delivered to Nigeria soon.