At just 29 years old, Timothy Armoo has gained notoriety as a millionaire entrepreneur, but his lifestyle and spending habits are anything but conventional. Unlike many of his affluent peers, who often invest heavily in expansive properties and lavish lifestyles, Armoo has taken a markedly different approach. A co-founder of the influencer marketing firm Fanbytes, he doesn't own any real estate. Instead, he chooses to embrace what he refers to as 'eclectic investments,' focusing primarily on unique business ventures across Africa.
Armoo’s rise to financial success is tied to the sale of Fanbytes to Brainlabs, a digital marketing agency, for what is rumored to be an eight-figure sum, though the precise figure remains undisclosed. Following the sale, he found himself grappling with what he describes as a 'scarcity mindset,' rooted deeply in his background growing up poor on public housing estates south of London. "I felt almost too crippled to spend the money," he recounted, reflecting on his past experiences. "I was convinced if I started to spend, it would all start to go."
With this mindset, Armoo initially turned to rigorous financial tracking. He kept spreadsheets, logging his income down to the penny, revisiting these records several times each week. Eventually, he realized this approach wouldn't help him adapt to his newfound wealth. To confront his fears directly, he took the radical step of withdrawing £1 million from the bank, later laying the cash out across his bed as physical reassurance of his financial cushion.
When discussing his investment strategies, Armoo divides his portfolio between what he calls the 'extremely safe bucket' and the 'completely exotic' one. He maintains significant investments in index funds and stocks, including notable companies like Shopify and Cloudflare. On the other hand, his more adventurous investments include financing businesses geared toward the export of avocados, soybeans, and mangoes from Kenya, Angola, and Tanzania to European supermarkets. He is also involved with alternative investments such as uranium and the funding of lithium mine sales, which he describes as engaging endeavors to identify unique arbitrages.
Beyond his atypical investment choices, it’s Armoo’s minimalist lifestyle choices and mindset around property ownership are what sets him apart from many wealthier individuals. Rejecting the traditional notion of wealth being amassed through real estate, he stated, "I actually don’t own a house. I didn’t get involved in any residential property or any direct commercial property.” He asserts, “Most people see property as their way of building wealth, but I use businesses as my way of building wealth.”
For him, this decision aligns with his current lifestyle, as he currently lacks family obligations. He spends roughly half the year outside London, which allows for more freedom to travel and explore opportunities without being tied down by property management. And unlike what might be expected of someone within his financial bracket, his indulgences are not marked by extravagance. The most 'flashy' purchase he recalls was booking first-class flights for himself and his then-girlfriend to Bali, which he describes with enthusiasm as "cool" and "gangster."
Armoo suggests his financial philosophy reflects broader shifts among younger millionaires, many of whom are moving away from traditional investments like real estate. He believes this trend aligns with their desire for flexibility and innovation based on their unique lifestyles and aspirations.
Toward the end of our conversation, Armoo offered insight about living by one’s own rules rather than societal expectations. He remarked, "I think there’s actually a bigger point here, which is to examine the rules you live your life by. You should examine them and say: 'Well, why should I do this? Why should I choose this career? Why should I invest my money this way?'" This ethos, perhaps, is what drives him forward—encouraging others to challenge conventional thinking and embrace creative ways to manage money and opportunities.
Timothy Armoo's story is not only compelling for its wealth but also for its realignment with personal values and ambitions outside the pressures of societal norms. Through his unique approach, he invites others to rethink their investment strategies and life choices, showcasing how success can be defined beyond traditional measures.
