Black Coffee Among Wealthiest African Musicians
Sources of income include a string of start-ups across the continent
Black Coffee is one of the wealthiest celebrities in Africa. However, his money doesn't come from music alone. The musician has secured the bag by having multiple businesses.
Born Nkosinathi Innocent Maphumulo on 11 March 1976, Black Coffee, a South African DJ, record producer and songwriter is among the wealthiest African artists.
Black Coffee who has established his own record label Soulistic Music, released his debut self-titled album Black Coffee in 2005, which incorporated elements of R&B and jazz. He's never looked back ever since. In 2022 he won the Grammy Award for Best Dance/Electronic Album. But there's more to the man than just music.
We take a look at the 8 companies owned by the music producer:
1. Gallo Record Company – Black Coffee announced, late 2020, that through his investment company Flight Mode Digital, he officially acquired in record label Gallo Music Group. The DJ is now one of the major shareholders of the piece of South African music culture and history.
2. Zone 6 – Black Coffee became the owner of Zone 6 in June 2017. The venue has hosted the likes of AKA, Kwesta, Casper Nyovest and Euphonik. The venue can host 4000 patrons.
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3. Yoco – Black Coffee has equity in Yoco which is an African technology company that builds tools and services to help small businesses get paid, run their businesses better, and grow.
4. SweepSouth – Black Coffee has equity in SweepSouth. The cleaning service has over seven thousand cleaners.
5. Andela – Black Coffee has equity in Andela, which aims at solving the global technical talent shortage by building distributed engineering teams with Africa's top software developers.
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6. Epione Healthcare Solutions – The muso also has equity in Epione Healthcare Solutions which is a partnership between clinicians, investors, operators, and strategists establish to develop, invest in, own and operate healthcare facilities in Africa.
7. GOSPEL – Black Coffee has equity in Gospel. The company was established in SoHo in 2017 as a House for the arts community and its audiences who have collectively created a home in New York City. GOSPEL is a restaurant, a stage, and a haven to unplug and reconnect.
8. Yamee – Black Coffee has equity in Yamee. The company helps food merchants in Africa to grow their businesses by providing eCommerce solutions.
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If your salary is your only source of Income, you're one step away from poverty. – Warren Buffet
Source | Squad Magazine
