Don Jazzy Reveals How He Spent First Music Fortune on 50 Bottles of Champagne

Nigerian music producer and Mavin Records founder Don Jazzy has revealed that he spent his first substantial earnings from music on 50 bottles of champagne and clubbing before redirecting his money towards investments in artistes and other businesses.

Don Jazzy, whose real name is Michael Ajereh, shared the experience during a recent appearance on the ‘On The Grind’ podcast, where he reflected on his early financial decisions and encouraged young people to invest their earnings rather than spend excessively on temporary pleasures.

Recalling how he celebrated his first major financial breakthrough from music, he said, “The first big money I got from music I lavished it.”

“I bought 50 bottles of champagne and went clubbing.”

However, the music executive explained that he quickly changed his approach and began investing in signing new artistes.

“But I quickly coordinated myself and invested in signing new artistes.”

“Now I don’t have to work ever again,” he added.

Don Jazzy said the investments he subsequently made in record labels and other businesses had given him a level of financial security where working was no longer a necessity for him.

He also advised young people to develop investment habits while they are still earning, stressing that wealth creation should not be limited to spending on expensive lifestyles or entertainment.

“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.

The producer’s remarks highlight the financial decisions he made after his first major earnings and the shift from spending his money on celebrations to building business interests.

His investment approach has been closely associated with his work in the Nigerian music industry, particularly through Mavin Records, which he established in March 2012 after the end of Mo’ Hits Records.

The label has since developed into one of Nigeria’s prominent music companies, with artistes including Rema, Ayra Starr, Johnny Drille, Ladipoe and former signees such as Tiwa Savage and Reekado Banks associated with its history.

In February 2024, Universal Music Group announced a majority investment in Mavin Global, a development expected to strengthen the label’s international reach, distribution and commercial opportunities.

Although the financial terms of the transaction were not disclosed, the investment marked a significant development in Mavin’s growth as a music business.

Don Jazzy did not disclose how much he earned from his first major music payday, the year he received the money, the nightclub where he celebrated or the amount spent on the champagne.

His advice, however, extended beyond the entertainment industry, as he urged young earners to identify profitable business opportunities rather than assume that investing must involve establishing a record label.

The music executive’s message was that financial success should go beyond the excitement of earning money to include decisions that can create lasting value and financial security.