Veteran record producer and music executive, Michael Collins Ajereh, commonly known as Don Jazzy, has stated that he wasted his first large earnings from music on frivolities instead of investing or using it effectively.
Jazzy eventually got the signal and started investing his subsequent gains, most notably on emerging musicians, on a recent episode of the On The Grind podcast.
He said he did not have to work again because he has assets in record labels and other enterprises.
When they first earned money, he said, young people should invest rather than spending a lot of money on frivolities.
Don Jazzy: “The first big money I made from music I squandered it.
I got 50 bottles of champagne and went to the club.
But I soon pulled myself together and put money into new acts.
Now I don't have to work anymore.
“You don’t have to invest in a record label necessarily but the money that you’re making in your youth invest it in a lucrative business as opposed to wasting it on frivolities.”
Thanks for reading: Don Jazzy reveals he wasted his initial cash from music