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By Linda Ikeji 2 November 2026, 8:46 am 0 comments
Veteran Nigerian record producer and music executive Michael Collins Ajereh, widely known as Don Jazzy, has disclosed that he squandered his first major earnings from music on frivolities instead of making prudent financial investments.
Speaking on a nee episode of the “On The Grind”podcast, Don Jazzy explained that he quickly learned from his initial misstep and began channeling his subsequent earnings into strategic ventures, most notably building and investing in music talent.
He noted that his deliberate investments in record labels and diverse business enterprises have secured his financial independence, allowing him the freedom to step back from active daily work.
Offering advice to younger generations, the Mavin Records founder urged youths to prioritize investments over excessive spending when they begin earning an income.
“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.”
English (US) ·