Timothy Armoo, co-founder and former CEO of influencer marketing firm Fanbytes, made his wealth by selling the company to digital marketing agency Brainlabs for an eight-figure sum. Despite his financial success, Armoo struggled with a scarcity mindset ingrained from growing up poor in public housing in south London. He felt hesitant to spend his money for fear of losing it all, tracking every pound meticulously. To confront this fear, he withdrew a million pounds in cash from the bank and spread it out on his bed to remind himself of his financial security.
Armoo invests his money in a diverse portfolio, including index funds and stocks like Shopify and Cloudflare. He also engages in more unconventional investments, such as financing businesses that supply supermarkets with avocado, soybean, and mango products in Africa. Additionally, Armoo has invested in uranium, funded the sale of a lithium mine, and explored other alternative investment opportunities. He enjoys the challenge of finding unique ways to invest his money beyond traditional avenues like index funds, embracing the excitement of exploring new opportunities.
Despite his wealth, Armoo chooses not to invest in real estate and does not own a house. He sees businesses as his path to building wealth, rather than traditional property investments. Armoo’s minimalist approach extends to his personal life, choosing not to own extravagant possessions and valuing experiences like first-class flights to Bali over material goods. He believes that rejecting the traditional norms of wealth accumulation, such as property ownership, can provide greater freedom and flexibility to live life on his terms, including spending only half the year in London.
Armoo emphasizes the importance of questioning the rules and norms that guide one’s life choices. He encourages individuals to examine why they make certain decisions, whether in careers, investments, or lifestyle choices. By challenging conventional wisdom and living by their own values and goals, individuals can avoid living according to someone else’s rules and pave their own path to success and fulfillment. Armoo’s story serves as a reminder to prioritize personal values and aspirations over societal expectations, allowing for a more intentional and fulfilling life.
