Nigerian music executive, Ubi Franklin has said he had almost $5 million in his possession in 2017 but he was still depressed.
He stated this on Tea With Taymesan podcast where he also revealed that he had that amount of money a year after his marriage to Lilian Esoro crashed, but it did not prevent depression.
The Founder of Triple MG said he owned the best cars and also bought an expensive new whip but all these did not make him feel better.
Ubi Franklin said there was a time when he thought his marriage did not work because he didn’t have the money to fix the marital issues.
He explained that the five million dollars was generated from earlier investments on crypto and other business ventures.
The record label said another thing that made the situation worse apart from not having a home was that his close friend and signee, Iyanya was not around because he had left his label.
Watch him speak below:
In other entertainment news, Nigerian street artiste, Akinbiyi Abiola Ahmed, popularly called Bella Shmurda, has revealed that he paid a huge sum of money to free himself from the contract he signed with his former record label.
CorrectNG reports that the ‘Newborn Fela’ crooner was formerly signed to One World Global Records.
Bella said he paid N20 million to the management so that he could be released to be an independent artiste after spending just a year out of his 3-year contract.
According to the singer, he was being cheated by the label because they equally funded his music projects, but One World took a larger percentage of the earnings.
Speaking on Tea with Taymesan podcast, he explained that he would source for N500k as requested by the label and they in turn would bring N500k for production, promotion and other things that need funding.
However, when money starts coming from shows, streaming, endorsement and other areas, they would take 70 percent and give him 30 percent.
Bella said he was not comfortable with that arrangement, so he hired a lawyer and bought himself out of One World Global Records.