Veteran music executive and record producer Michael Collins Ajereh, widely known as Don Jazzy, has opened up about his early financial missteps, revealing that he squandered his first major music payout on clubbing and luxury items.

Speaking during a candid appearance on the On The Grind podcast, the Mavin Records boss recounted how youthful exuberance led him to splurge on 50 bottles of champagne before he quickly course-corrected and redirected his focus toward building sustainable enterprises.

"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," Don Jazzy shared.

The music mogul noted that his strategic investments in record labels and various business ventures laid the foundation for his current financial independence.

Offering words of advice to younger generations and up-and-coming creatives, Don Jazzy emphasised the importance of prioritising long-term investments over fleeting luxuries.

"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 advised.

ID