‘Financial woes’: DJ Maphorisa in R20 million debt

Award-winning producer DJ Maphorisa is making headlines against the backdrop of his financial woes. The celebrated DJ and producer has been caught in a mega jive with his record label, Sony Music.

DJ MAPHORISA IN R20 MILLION DEBT, CLOSE SOURCES CONFIRM

Reports have it that the muso is embroiled in an R20 million debt with Sony Music. However, little is known about when he signed the loan agreement with Sony Music. MDN News first reported on his financial woes.

Taking it to X, formerly Twitter, the celebrity blog posted, “DJ Maphorisa is reportedly in debt amounting to R20 million following a loan from Sony Music. Despite being a big shot in the music world, he’s allegedly struggling to pay back the cash.”

The other part of the post reads, “Now, he’s reportedly got artists [whom] he feels he’s made, doing extra gigs to help him out. Talk about passing the mic, huh?”

The post has gained thousands of comments and reactions since it dropped on the internet. Fans were quick to flood social media with their two cents. Many were more than convinced he could pay off the debt, while others blamed his soft spot for luxury brands.

According to ZiMoja, DJ Maphorisa is reportedly in debt amounting to R20 million following a loan he took from Sony Music.

Despite being a big shot in the music world, he’s allegedly struggling to pay back the cash.

Now he’s reportedly got artist he feels he’s made, doing… pic.twitter.com/VXAZwBjGNU

— MDN NEWS (@MDNnewss) July 14, 2024

A close source to ZiMoja has it that DJ Maphorisa’s financial woes saw him allegedly coerce some artists signed to his record label to take on more gigs.

The source said, “Some artists are bearing the brunt of Maphorisa’s debt because he needs to pay up or else he stands to [lose] big time. The debt is now old while he has promised to pay up.”

Another source said DJ Maphorisa took an advance from the company and is now struggling to pay it back.

The other source added, “He took an advance from the company and was [adamant] he would pay it back. [However], he’s now struggling to pay it back, [including] the interest.”

The source added, “He’s [DJ Maphorisa] scrambling to come up with the money and is having sleepless nights. He’s stressed because he has to pay them back.”

MAKING HEADLINES

However, against the news, his spending sprees were quickly implicated in the mix. DJ Maphorisa has splurged millions of the world’s finest cars and designer clothes to cap his life of glitz and glamour.

DJ Maphorisa once hogged headlines when he flaunted one of the most coveted designer bags in the world, a Hermès Birkin Bag. The bag has a base price tag of R480 000. DJ Maphorisa joins celebrities who own designer bags from the luxury brand, including Kim Kardashian and Cardi B.