Nigerian music executive, Michael Collins Ajereh, popularly known as Don Jazzy, has revealed how he spent his first big money from music.
Naija News reports that the music star shared his experience during a recent episode of the On The Grind podcast.
Don Jazzy said he spent the money on parties and other things instead of investing it.
Naija News reports that he revealed that he bought 50 bottles of champagne and went clubbing after making his first big money from music.
However, he said he soon realized he needed to manage his money better and started investing in businesses, including signing and promoting new artistes.
The music producer explained that his investments in record labels and other businesses have paid off so well that he no longer needs to work to survive.
He 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.
“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.”
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