The elder sister of Afrobeats star Davido has described how she oversees his finances and regularly attempts to limit his expenditure on luxury goods.
Sharon Ademefun, who serves as chief financial officer of Davido Music Worldwide, said she holds structured weekly meetings with her brother, David Adeleke, to review spending and enforce greater fiscal discipline.
“Me and Davido sit and have a finance meeting every week because I think it is important for him to know how his money is being spent. I will now say, ‘David, please, no more cars,’” Ademefun told The Morayo Show.
She added that her advice is not always heeded. “No more jewelry. 24 hours later, you know how they normally say it, ‘2 to 3 business days’, I’ll just see on the blogs. This latest car.”
Ademefun, who has been involved in her brother’s career since its early stages, described their professional relationship as a natural progression.
“The problem is that me and David were always fighting. If other people can’t tell him, me I’ll tell him,” she said. “Now I can take what I’ve learned in business and then help him put structure into his business. So, it’s just more official.”
When asked whether she knew the full extent of Davido’s wealth, Ademefun cited a non-disclosure agreement. “I’ve signed a non-disclosure agreement! I can’t confirm or deny!” she replied.
She also noted that she occasionally intervenes in travel arrangements when cost-cutting measures risk reducing the singer’s comfort, saying she has purchased last-minute first-class tickets at airports on several occasions.
