DON JAZZY REVEALS HOW HE SPENT FIRST MAJOR MUSIC EARNINGS ON CHAMPAGNE AND CLUBBING
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By: Muftau Fatimo
Veteran record producer and music executive, Michael Collins Ajereh, popularly known as Don Jazzy, has revealed that he squandered his first major earnings from music on lavish spending instead of investing the money.
Speaking during a recent episode of the On The Grind podcast, the Mavin Records boss disclosed that he spent heavily on champagne and clubbing before realising the importance of making wise financial decisions.
He explained that he later changed his approach by investing his subsequent earnings, particularly in discovering and signing new artistes.
According to him, his investments in record labels and other businesses have provided him with enough financial security to no longer depend on active work for a living.
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.”
He advised young people to prioritise investments whenever they begin earning money, rather than spending excessively on luxuries and other frivolous activities.
“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 added.
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