According to Ali Baba, the musician was paid N400 million for a performance in Dubai and received an additional N500 million for another international gig.
Legendary Nigerian comedian, Ali Baba has spoken about how musicians can secure their future by investing right.
He used the opportunity to narrate how a popular musician squandered over N1.5 billion on a frivolous lifestyle.
The comedian spoke when he appeared on the recent episode of the Eden Oasis Realty podcast.
According to Ali Baba, the musician was paid N400 million for a performance in Dubai and received an additional N500 million for another international gig.
Instead of making strategic investments, the artist indulged in a luxurious lifestyle, spending the vast sum on a Maybach, another luxury car, expensive jewellery, and a lavish shopping spree.
Ali Baba emphasized that in less than two months, the musician had burned through more than N1.5 billion.
He said: “I told a musician, a very top musician, if he hears this he would know he is the one I am talking about. He went to play in Dubai; they paid him nearly N400 million; he went to play in another International event, and they paid him about N500 million.
“The next thing, he has a Maybach, has another car and goes on a spree with jewelry and all other things. And in less than two to six months, he has done about 1.5 billion.
“He would have bought land, done an event, and put a powerful studio upstairs. People will come there and shoot and do their music thing, and the venue will bring enough money to buy anything he wants to buy. Then it was time for him to get married, and he had to use a hall. But if he had built the hall, he wouldn’t have needed to spend the money for the hall.
“Asake wanted to do his concert in London. He applied to a bank and says, “I need a loan of 1 billion, I want to organize a concert in London. They wouldn’t give him because he is an Asake right?
“A car dealer goes to the bank and says, “he wants to import 12 cars”, they would give him the money, he would bring the cars in and put it in the shop. He can’t sell them in one week. The cars will be in the shop for sometimes six months, one year, he still hasn’t sold some of those cars. Asake’s concert is one day, he will make two billion”.
Watch the video below