Sharon Ademefun, the elder sister of Afrobeats star David Adeleke, popularly known as Davido, says she holds weekly finance meetings with the singer to monitor his spending and encourage greater financial discipline.
Ademefun, who serves as Chief Financial Officer of Davido Music Worldwide, DMW, made the remarks while speaking on The Morayo Show, where she discussed her relationship with the singer, her involvement in his career and the financial responsibilities that come with managing a high-profile entertainment business.
According to her, the meetings are designed to ensure that Davido understands how his money is being spent, particularly as his purchases of luxury cars and jewellery have been a recurring source of disagreement between the siblings.
“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,” she said.
Ademefun said her position within Davido’s management team dates back to the early stages of his music career. She described their working relationship as one in which their family closeness enables her to challenge the singer on issues that other members of his team might be reluctant to raise.
She said their disagreements are particularly frequent over Davido’s spending on cars and jewellery, adding that she is willing to be direct with him because of their relationship.
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“I’ve always taken care of David. He’s always been my baby,” she said, explaining that she has remained involved in his career from its early years.
The comments offer a glimpse into the financial structures surrounding one of Africa’s most commercially successful music acts, where income from music, performances, endorsements and other ventures requires management beyond the artist’s creative work.
Ademefun also spoke about growing up in the wealthy Adeleke family and challenged the perception that people born into affluent families necessarily have unrestricted access to cash.
She explained that family wealth can be organized through structures and budgets, meaning members may still be expected to operate within defined financial limits rather than having unrestricted access to family resources.
The discussion also highlights a broader issue in the entertainment industry: as artists build increasingly complex businesses around their music careers, financial planning, budgeting and oversight can become as important as managing performances, recordings and brand partnerships.
For Davido, Ademefun’s account suggests that such oversight takes place within the family as well as through his professional management structure, with the siblings meeting regularly to review his finances and spending decisions.
NAN
