he has little money...
Yea it is. "That guy is rich." "Yea, he has a little money."
However, "I have a little money" means that I only have a small amount. Your comment re the rich guy is ironical.
It is ambivalent as...he has a bit of money may mean a lot also.
Can someone explain when we use 'de'. I never know when to use it. Thanks
I find this a good explanation http://www.spanishdict.com/answers/218859/how-do-you-use-de-in-spanish