Don Jazzy Is Now Worth $200 Million After Selling Mavin Records

Don Jazzy has achieved yet another business milestone.

According to a new report obtained by MandyNews.com, the music legend and producer is now worth an impressive $200 million. This comes after he sells his record label, Mavin.

This places him as the richest musician in Nigeria and among the wealthiest celebrities in Africa.

MandyNews.com recently reported that earlier this week, he sold a major part of Mavin Global, with the transaction valuing Mavin at nearly $200 million. He retains a stake in the company even after the sale, as per the report.

“Universal Music Group (UMG), a global leader in music-based entertainment, has announced a significant investment in Mavin Global (Mavin), one of the world’s most vibrant and successful independent record labels. This deal is pending regulatory approval and is anticipated to be finalized by the end of Q3 2024,” stated UMG.

The Founder of Mavin Records, who will maintain his leadership role at Mavin, commented on the acquisition, saying, “I’m proud of the artists, careers, and brands we’ve developed, making Mavin the powerhouse it is now. With this historic partnership with UMG, we aim to continue our mission both in Africa and worldwide.”

Sir Lucian Grainge, head of Universal Music Group, said, “We look for great artists, entrepreneurs, and people in our partners. We’ve found this in Don Jazzy, Tega, and the Mavin Global team. Their artists have helped make Afrobeats popular worldwide, and we’re happy to welcome them to our family.”

Nigeria is making big strides in business, not just in tech but also in music and movies. This is just the start. Mavin’s deal follows the acquisition of ROK by the French company Canal+ Group, showing major growth in Nigeria’s entertainment industry.

Mavin Records, started by Don Jazzy in 2012, quickly became a big name in African music. It was a fresh start for Don Jazzy after his previous label, Mo’ Hits Records, ended. Mavin stood out right from the beginning with great music and smart ways to promote their artists.

Their first big release, “Solar Plexus,” introduced us to artists like Tiwa Savage and Dr SID. This album showed everyone that Mavin meant business.

The label has been great at helping artists grow. For example, Tiwa Savage became a huge star while at Mavin. They have a way of mixing African sounds with music from around the world, which has helped their artists get fans from all over.

Mavin has played a big part in making Afrobeats popular worldwide. This style of music, which mixes African beats with modern styles, has become really popular, and Mavin has been at the forefront of this trend.

They’ve also been really good at using the internet and social media to reach people everywhere. This has helped African music get fans from different parts of the world.

The deal with Universal Music Group is a big step. It’s not just about business; it’s about bringing African music to more people around the world. This partnership gives Mavin’s artists a bigger platform and brings different music styles together.

Overall, Mavin Records’ story is about making great music, helping artists become stars, and sharing African music with the world.

Congratulations to Don Jazzy!