Top 10 Richest Artistes in Nigeria

Filed in Articles by on October 21, 2020

The music industry is not a child’s play; many have ventured into it and have stood out making names and money as well. Here, we’ll be revealing the richest musicians in Nigeria currently in no particular order.

Top 10 Richest Artistes in Nigeria

Top 10 Richest Artistes in Nigeria

Taking into account endorsements, assets, and overall revenue from music, these musicians are among the richest in Nigeria:

1. Don Jazzy

Don Jazzy is Nigeria’s richest musician. In the last 3 decades, Dan Jazzy has carved a path in the Nigerian music industry. His net worth of $52 million ranks him as the richest in Nigeria.

Mo-Hits Records, which he co-founded with Oladapo Daniel Oyebanjo, also known as Dbanj, contributed significantly to the accumulation of Don Jazzy’s fortune.

Nevertheless, Don Jazzy and Dbanj eventually split ways, resulting in the 2012 establishment of Mavin Records, Nigeria’s leading record company.

Tiwa Savage, Wande Coal, Reekado Banks, and Iyana have made names for themselves through Mavin Records.

At the same time, Korede Bello, Dr. SID, D’Prince, Di’Ja, Johnny Drille, Ladipoe, DNA Twins, Rema, Crayon, Ayra Starr, Magixx, Boy Spynx, and Bayanni are now forerunners on the label.

2. Davido

At the time of update, Davido averages 20 million YouTube views per video. Davido is also the son of one of Nigeria’s richest politicians, Chief Adeleke

Davido’s net worth is estimated at $27.6m. He is contracted to Sony Records, a record company that currently houses SZA, Pink, Future, and Meghan Trainor, amongst others.

Davido, once held the title of Africa’s best-selling artist, he has a long list of accomplishments that culminated in his performance at the World Cup closing ceremony in Qatar in 2022, cementing his spot among Nigeria’s richest musicians.

Davido has won several honours, including BET and MTV awards, and garnered sponsorships deals from MTN, PUMA, and Guinness Nigeria as brand ambassadors.

His streak of endorsement contracts is the best evidence of his standing as one of the richest musicians in Nigeria.

3. Wizkid

Wizkid’s net worth is estimated at $26million. Wizkid is the first Nigerian artist to sell the 02 Arena in London for three consecutive nights.

Since the release of his first song, “Holla at Your Boy,” in 2010, Wizkid has smashed several national and international music records.

A deeper examination of Wizkid’s progression over the years reveals that his ascent onto this list of the richest musicians in Nigeria was inevitable.

“Essence,” from Wizkid’s highly praised 2020 album “Made in Lagos,” is the first Nigerian song in history to rank on the Billboard Hot 100 and Billboard Global 200.

The song was nominated for “Best Global Music Performance” at the 64th Annual Grammy Awards and selected as the best song of 2021 by the US magazine Rolling Stone.

4. Burna Boy

Burna Boy is the first Nigerian to get consecutive Grammy nominations and the most streamed Nigerian artist after Rema, Burna Boy has an estimated net worth of 16 million USD.

Since his 2012 breakout, the Grammy-winning singer, rapper, composer, and lyricist has been one of the genre’s global forerunners.

The vast bulk of Burna Boy’s status as one of the richest musicians in Nigeria is attributable to exposure through streaming, with his song “It’s Plenty” being named one of 2022’s most streamed songs.

Burna Boy made history in 2021 when he won the 63rd Annual Grammy Award for Best World Music Album, becoming the first Nigerian solo artist to win the prize.

Being one of the richest musicians in Nigeria , Burna Boy derives a significant portion of his income from touring and ticket sales.

On 28 April, 2022, Burna boy became the first Nigerian musician to headline a sold-out show in New York City’s Madison Square Garden.

Burna Boy has a home with eight bedrooms in Lekki, Lagos, as well as a number of expensive vehicles, including a Range Rover Autobiography, a 2022 Lamborghini Urus Novitec Edition, a 2013 Ferrari 458 Italia, and a Rolls-Royce Dawn Convertible.

5. 2baba

With an estimated net worth of $10.2 million, legendary African singer 2baba is one of the richest musician in Nigeria.

2baba, a music superstar who rose to worldwide prominence with his 2004 song African Queen, demonstrated his financial prowess in 2022 by donating a multimillion-naira music studio to the Faculty of Music at Obafemi Awolowo University, OAU, in Ile Ife, Osun State.

On October 11, 2022, the former president of Nigeria, President Mohammed Buhari honoured the veteran with the Order of the Niger (MON) for his contribution to the music industry, along with others.

2Face is also honoured with the MTV Music Awards, Headies, BET Awards, among others.

6. Olamide

Olamide Adedeji aka Badoo is a popular artiste with a financial networth estimated at $12 million. He is also the best Yoruba rapper in Nigeria and has released about seven albums to date.

Some of his albums include Rhapsodi (2011), YBNL (2012), Baddest Guy Ever Liveth (2013), Street OT (2014), Eyan Mayweather (2015), and The Glory which was released in 2016.

When it comes to popularity, Olamide ranks among the most popular celebrities in the country. He has featured in so many songs with other hip hop artistes.

Apart from the success recorded in his music sales, Olamide is a businessman who has made his wealth through investments and endorsement deals.

He is also the founder and CEO of YBNL, one of the best record labels in the country. Normally, you see Olamide and Phyno collaborating, especially to produce songs together.

What most Nigerians don’t know is that both phyno and Olamide are best of friends. This top rapper also knows how to enjoy his wealth as he lives in his mansion and has lots of cars.

As Olamide grew in popularity, so does his money. Apart from the landed properties, investments and assets he owns, Badoo has several multimillion naira endorsements contracts with top brands like Guinness, Monster drink, Glo and Etisalat.

Recently, Sterling bank made him a brand ambassador for an undisclosed fee.

7. Flavour

Chinedu Okoli aka Flavour N’abania is another entertainer whose stardom and wealth have been made through his interesting songs.

He started from childhood as a drummer in his church has grown to become one of the most popular entertainers in the country. Flavour is also a model because of his well-built body.

His hit song Ada Ada was nominated In 2014 to be among the award-winning best video of the year at the MTV Africa Music Awards.

8. Timaya

Timaya is an outstanding Nigerian musician with a net worth that stands at $10.5 million. The story of Timaya rising from grass to grace should serve as an inspiration to all that you can achieve your dream in life no matter what the obstacle is.

The entertainer is now the owner of a top record label, Dem Mama Records, and has signed some prominent young acts into his label.

When Timaya released his first solo album in 2005, ‘Dem Mama’, the album which was more of his story made waves in the market and he sold more than a million copies then.

On YouTube also, most of Timaya’s song has up to 50 million views.

9. Yemi Alade

Yemi Alade is the first female afrobeats artist to embark on four global tours. Her music has garnered her many accolades, including the MTV Africa Music Award for Best Female and the BET Award for Best International Act: Africa.

Yemi Alade’s status as one of the richest singers in Nigeria is due to her lucrative endorsement agreements with major brands including Peak Milk, Close-Up, and Bland2Glam.

She has also served as a representative for Shell Petroleum Development Company and telecommunications company Globacom.

Yemi Alade is one of only fourteen Nigerian musicians whose YouTube music video has received more than 100 million views.

As of April 2023, she was reportedly the most booked female Nigerian vocalist ever, making her one of the richest musicians in Nigeria.

In May 2023, Yemi Alade was the only female in the top 10 most-streamed female Afrobeat artists on YouTube. This has been the foundation of her status as Nigeria’s wealthiest female musicians.

Yemi Alade has a significant social media presence, with millions of followers on Instagram, where she is the most followed female afrobeats performer with 17.4 million followers.

Yemi Alade is one of only a smattering of English-speaking afrobeats performers who have crossed over into the Francophone industry to date.

10. Phyno

Phyno fino is an Igbo rapper, singer, songwriter, and record producer whose real name is Chibuzor Nelson Azubuike. He is a talented artist whose net worth stands at $11 million.

He is among the best 5 fastest rappers in the country and is currently doing well.

Phyno began rapping in 2010 using the Igbo dialect before he entered Lagos and joined Olamide to further his career. Just like Olamide, Phyno has aken music to the next level.

He has featured so many other artists such as Timaya, Flavour, M.I, etc in his songs. At present, he is also a brand ambassador of Nairabet, GLO which runs into millions of Naira.

CSN Team.

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