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Veteran record producer and music executive Michael Collins Ajereh, popularly known as Don Jazzy, has revealed how he spent his first substantial earnings from music on expensive champagne and clubbing before changing his attitude towards money.
The Mavin Records boss made the revelation during a recent appearance on the On The Grind podcast, where he reflected on his financial journey and the lessons he learnt about managing money.
According to Don Jazzy, his first major payday from music was not channelled into investments or long-term financial plans. Instead, he used the money to celebrate his success, purchasing dozens of bottles of champagne and spending heavily on nightlife.
He, however, said he soon realised the importance of making better financial decisions and began investing in business opportunities, particularly through signing emerging artistes.
Recalling his spending habits at the time, the music executive said he bought 50 bottles of champagne and went clubbing with his earnings.
“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 said.
His account highlighted how his approach to money changed after his early experience of spending heavily on luxury and entertainment.
Don Jazzy speaks on investments
The producer explained that investing in new talents and expanding his business interests had played an important role in building his financial security.
Rather than continuing to spend his earnings on temporary pleasures, he began directing money towards ventures that could generate returns over time.
One of the areas he invested in was the music business, particularly by signing upcoming artistes and providing opportunities for them to develop their careers.
As the head of Mavin Records, Don Jazzy has been associated with the development of several Nigerian music talents. His record label has provided a platform for artistes to build their careers and reach wider audiences.
His comments suggested that his decision to invest in the music industry went beyond his activities as a producer, allowing him to build a business structure around his knowledge and experience.
He also said the investments he made in record labels and other businesses had provided him with a level of financial independence where working was no longer a necessity for survival.
His statement that he no longer needs to work for a living reflects the financial position he believes he has achieved through years of investing and building businesses.
Advises young people against frivolous spending
Beyond sharing his personal experience, Don Jazzy used the opportunity to advise young people to take their financial future seriously.
He urged those earning money during their productive years to consider investing in profitable businesses rather than spending excessively on luxuries that may offer only temporary satisfaction.
The music executive noted that investing in a record label was not the only option available to young people, stressing that individuals could identify other businesses capable of generating sustainable income.
“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 said.
His advice centred on the importance of developing a saving and investment culture early, rather than waiting until financial responsibilities become more demanding.
He encouraged young earners to look beyond the excitement that comes with receiving large sums of money and consider how such earnings could contribute to their long-term financial wellbeing.
From music producer to business executive
Don Jazzy is one of Nigeria’s prominent music producers and entertainment entrepreneurs. He co-founded Mo’ Hits Records with D’banj before establishing Mavin Records in 2012.
Over the years, Mavin has become an important platform for the growth of Nigerian music talents, with several artistes associated with the label achieving commercial success.
His journey from music production to running a record label and other business ventures has also established him as a major figure in the country’s entertainment industry.
His latest comments offer a glimpse into the financial lessons he learnt along the way, particularly the need to turn earnings into investments.
By recalling how he spent his first major music income, Don Jazzy highlighted the difference between enjoying early financial success and using it to build lasting wealth.
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