Veteran record producer and music executive, Michael Collins Ajereh, popularly known as Don Jazzy, has revealed that he lavished his first major earnings from music on frivolities rather than investing or using it wisely.
Speaking in a recent episode of the On The Grind podcast, Jazzy explained that he later got the hint and started investing his subsequent earnings, especially on new artists.
He said because of his investments in record labels and other businesses, he doesn't have to ever work again.
He advised young people to prioritise investing when they start making money rather than spending excessively on frivolities.
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.
"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."