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Nigerian-British investor and technology expert Tomi Davies recently shared a remarkable anecdote about how a $5,000 investment unexpectedly transformed into a significant financial windfall. Speaking on the Big Tech This Week podcast, which aired on Monday, Davies recounted the events that led to his impressive return on investment.
“In 1999, a friend of mine encouraged me to invest $5,000 in a fantasy league soccer comic,” Davies explained. “We successfully launched the distribution and then began exploring animation and video, which piqued the interest of a South African company.”
The South African firm’s interest marked a pivotal moment for the venture, as they aimed to acquire a majority stake in the comic business. “They decided to buy into the company and needed part of my shares to secure their 51% ownership,” Davies said.
To his astonishment, when the company wired the money, he found himself in disbelief. “For two days, I couldn’t sleep. I was worried they might think Nigerians were fraudsters. I thought they made a mistake in the amount because it had an extra zero that I wasn’t expecting.”
Davies recalled reaching out to his friend, who had initiated the company, expressing his concern: “I called up my friend and said, ‘Hey, Ollie, there seems to be a problem. I was expecting $25,000, but they sent me $250,000. Please, there’s been a mistake.’”
To his surprise, his friend reassured him, saying, “Oh no, there hasn’t been any mistake. The valuation of the company means I just got three and a half million dollars. I’ve just bought myself a house.”
Reflecting on his unexpected fortune, Davies noted, “So, I said $5,000 for half my shares, and I got $250,000.”
The journey of this investment didn’t stop there; the company eventually became a valuable asset, now part of Disney’s portfolio. “That particular company today belongs to Disney,” Tomi Davies concluded.
