Boston CEO to Kanye West: I’ll invest $53m if you learn ‘to be frugal’
Boston businessman Jon Lal says his offer to invest $53 million in West’s musical projects is completely serious.
But it comes with a catch.
“Reform your profligate ways and start to be frugal,” Lal wrote in a letter he posted on Twitter in a reply Thursday to West’s Feb. 13 debt tweet. “No $40,000 fur coats or sending your personal assistant to Milan to shop for you. My CFO will audit your lifestyle and review all your expenses.”
Lal, 47, is founder and chief executive officer of BeFrugal.Com, a site that offers cash back and discounts for online retail purchases. The slogan of the company, which was launched in 2009 and has an A+ rating with the Better Business Bureau, is “We are a bunch of cheap, thrifty, penny pinchers who believe that a dollar saved is two dollars earned!” Lal declined to say how much he or his business are worth, but claimed that BeFrugal.Com gets 2 million visitors per month.
Frugal as he is, Lal says he has mailed proof that he has the means to make good on his offer to West’s Los Angeles address, and that he has sent along a round-trip ticket to Boston, purchased on CheapAir.Com, economy class.
“He’s going to fly the way I fly,” Lal said.
He said he’s made a reservation for a room at the Comfort Inn & Suites at Logan Airport, so that he and West can discuss the offer in frugal, time-efficient fashion.
“If he needs to go into the city, we’ll splurge for an Uber,” Lal said.
“I’m not proposing to pay off his debt,” Lal said. “I’m proposing to invest in his projects. If he focuses on his music and touring, he would have a very good chance to earn a return.”
Lal said he had not heard back from the 21-time Grammy winner. A message left with West’s publicist had not been returned at the time of this writing.
Even if West agreed to the austerity plan, there could be a problem with another one of the conditions spelled out by Lal.
“Please be nice to Taylor Swift,” the letter ends. “My daughters love her.”