Aldis Ozols, the Founder and CEO of A1 Diesel Limited, has offered a provocative and pragmatic perspective on the relationship between wealth and happiness, drawing on his incredible personal journey that saw him lose a €17 million European empire before successfully rebuilding his life in Ghana.
During an interview on JoyNews’ Personality Profile with Lexis Bill today, Thursday, December 11, 2025, Ozols shared the hard-earned philosophy that underpins his new book, Win Life, Lose Millions, arguing that while money is critical for happiness, its power is not limitless.
The Pragmatic View on Wealth
Ozols, who grew up in Soviet Latvia, where private enterprise was suppressed, and later served in Special Forces, has experienced both staggering wealth and near-total bankruptcy. His perspective on money is rooted in its practical ability to secure comfort and choice.
He directly challenged the common saying that money cannot buy happiness with a witty retort :
“When somebody says money doesn’t buy happiness, they just don’t know where to shop.”
The entrepreneur explained that he needs money because he knows what it facilitates:
“I needed the money because I know what money can do. I can clearly see that with the money you can buy things; you can make yourself happy.”
He clarified that while he recognises the societal critique of materialism, his experience dictates that financial stability is fundamental to contentment:
“I can clearly say that without money you cannot be as happy as with the money.”
The Scientific Ceiling of Happiness
Ozols then pivoted to a more sophisticated analysis, noting that after a certain threshold, the pursuit of more money is futile for increasing well-being, transforming into a “trap”.
He cited scientific consensus regarding the diminishing returns of income on happiness:
“I’m not talking about millions or billions or something, okay, because after $73,000 yearly, it is already scientifically proven that after $73,000 a year, your happiness from the money doesn’t rise again.”
Ozols asserted that beyond this figure, individuals are often just “chasing the next shiny subject”, rather than genuinely increasing their emotional fulfilment.
This view aligns with numerous studies that confirm emotional well-being tends to plateau once a certain income level is achieved, covering basic needs and ensuring financial security.
From €7M Debt to A1 Diesel
Ozols’s journey to Ghana began after the 2008 global financial crash left him minus €7 million in debt.
He famously sold his wife’s jewellery, which she had offered him as seed capital after he had lost everything else, to restart his life.
His ability to apply the principles of resilience and clear-sighted decision-making—traits necessary for a Special Forces career—has been crucial to his success in Ghana, where his company, A1 Diesel Limited, has become a key player in the petroleum sector.
