19-year-old EDM sensation, Martin Garrix, has officially left his original record label and management company over the rights to the ownership of his music. Garrix allegedly tried to negotiate with Spinnin’ Records and MusicAllStars Management to received full ownership of his music, but was denied.

The young DJ earned an astounding $17 million this year and is the first teen on Forbe’s¬†Electronic Cash Kings List (tied at number 8 with Zedd). Although many labels and management companies will be interested in Garrix due to his recent success, many suspect that the Dutch DJ will start his own label. This would allow Garrix to have the rights to all of his music, while also signing new DJs he already follows.

In his announcement on Facebook, Martin Garrix promises to divulge more information about his label and management situation by Amsterdam Dance Event, October 14-18th.

Spinnin’ Records released an official statement on Garrix’s departure:

“We regret to inform that the highly successful cooperation between Martin Garrix (Martijn Garritsen), Spinnin’ Records and MusicAllStars Management has ended.

Due to his unique success we have been in close contact with Martijn and his team for the last months on adjusting the current, still ongoing agreements.

We were plainly willing to meet Martijn in his wishes to negotiate the current agreements in his favor. Hereby we also confirmed transfer of ownership. Yet Martijn decided to unilaterally end the cooperation as of now. Of course we regret this decision.

Nevertheless the whole team looks back on a beautiful collaboration. Guiding Martijn from an unknown, but highly talented artist to a world famous star has been a amazing experience and we are all proud of the success. We wish him all the best in his further career.

We will remain doing what we are good in, which is releasing new music, looking out for, develop and realize success with new talents, all with ambition and passion for music.”