FAME & FORTUNE
Radio veteran Bob Mabena talks money
Radio veteran Bob Mabena, who has just celebrated his 25th anniversary in the entertainment industry, talks to Thekiso Anthony
Lefifi about avoiding bankruptcy, earning R250 a month, splurging on fast cars and working for OK supermarkets When did you first realise you are famous?
When the guys who would not even talk to me or touch me with a two-metre pole in high school started calling me their friend. What is the one important thing you wish you learnt early in your career?
Making sound investments with my money and time. If you were not a broadcaster, what would you be doing?
A cunning lawyer or a very dedicated teacher or lecturer. What is the dumbest thing you have done for money?
Packing shelves at the OK in Van der Walt Street in Pretoria. And the worst thing you have done with your money?
Owning a fleet of cars, even though I had a car sponsorship from Nissan. I was in my mid20s. I think I had five cars. Do you think celebrities in the entertainment industry are earning what they are worth?
Not at all. It does not make sense to have your name on a car for a period and then giving it back to the carmaker. We must never sign such stupid deals. One’s brand value is almost always devalued by one’s overzealousness. How responsible are you with money?
I straddle these money types. I am one thing at one time and then another. It is a bit of a slave mentality to be only one way. I amnever a slave to cash. I try not to lend people money. I most of the time tell the borrower
to pass the cash on. What are your pet peeves about fame and fortune?
The worst one is that while you live your life, the world watches your every move and your mistakes are blown out of proportion. The second one is that one becomes an unwilling “role model”. Most celebs are called role models by the media. Is the pie big enough for South African celebrities?
There is always more than enough. The problem is that we all tend to want to navigate towards the same thing — radio, TV or music, or all three. What are your thoughts on celebrities that go bankrupt?
I could have been one of the bankrupt ones myself. When one gets an ordinary job, either an uncle or family member pulls you to the side and gives you some advice. With celebs, I think what happens is that your closest family members get so overawed that your “demigod” status makes them believe that you know it all and do not need help. At least that was what happened with me. How do you tip? Are you an easy tipper or do they have to work hard for it?
I am an easy tipper. I used to own a restaurant and I know that these guys earn peanuts and rely on tips. What are your thoughts on the wage gap in South Africa?
Well, it is obviously a ridicu- lous situation. I have worked both on air and in management, and I know some on-air personalities who are getting way too much for doing nothing, but equally there are some in management who are getting overpaid. What was the nastiest job you have ever done? How much did it pay?
I played at a club in Mafikeng for R250 a month. I was 20 years old. Nasty. How many sources of income do you have? How do you juggle them all?
In a way, it is one source because it is all in entertainment. I never look for a balance — I try to harmonise instead. Some du- ties will receive more attention than others at some time or another. I enjoy the strategy part of it, though. How do you invest your money?
I use different investment vehicles and move money around quite a bit. I am not a long-term guy, so sometimes I win big and other times I lose substantially. If you were given R5-million, how would you invest each million?
The South African economy is going to improve, so I would put a million in government bonds. This would be my only longerterm investment. The rest I would divide between resources and tech stocks.