Don Jazzy Reveals He Wasted His First Major Earnings from Music on Lavish Spending
Nigerian music producer and record label executive Michael Collins Ajereh, popularly known as Don Jazzy, has revealed that he squandered his first major earnings from music on extravagant spending rather than investing the money.
The Mavin Records founder made the disclosure during a recent appearance on the On The Grind podcast, where he reflected on his early financial decisions and how he later changed his approach to managing money.
Don Jazzy explained that he spent his first major music earnings on luxury champagne and clubbing. However, he said he quickly learned from the experience and redirected his subsequent income towards investments, particularly discovering and signing new music talents.
Don Jazzy Says Investing in Music Secured His Financial Freedom
According to the music executive, investing in artistes, record labels and other business ventures helped him build long-term financial security.
He noted that his investments have given him the financial independence to step away from the pressure of working every day.
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Recalling how he spent his first major earnings, Don Jazzy said:
“The first big money I got from music I lavished it. I bought 50 bottles of champagne and went clubbing. But I quickly coordinated myself and invested in signing new artistes. Now I don’t have to work ever again.”
Don Jazzy Advises Young People to Invest Their Earnings
The producer also used the opportunity to advise young people to make better financial decisions when they begin earning money.
He encouraged them to prioritise profitable investments instead of spending excessively on luxury items and other non-essential things.
Don Jazzy stressed that young people do not necessarily need to invest in a record label. Instead, he urged them to identify viable businesses that can generate income and create long-term financial stability.
“You don’t necessarily have to invest in a record label, but the money you are making in your youth, invest it in a lucrative business as opposed to wasting it on frivolities,” he advised.
