Who Is The Top 10 Richest Musician In Nigeria – The Nigerian music industry is one of the fastest growing sectors in Africa. This is a ranking of the richest musicians in Nigeria based on their net worth.
The Nigerian music industry has been seen globally as one of the fastest growing sectors in the country. This article lists the richest musicians in Nigeria because famous singers earn so much income that it is currently a multi-million naira industry and one of the highest paying professions in the country.
Who Is The Top 10 Richest Musician In Nigeria
The Afrobeats genre preached by Nigerian artistes has positively influenced the general perception of African music worldwide.
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The success of the music industry is largely due to Wizkid, Don Jazzy, Tuface Idibia, Davido and others who have shown incredible longevity and now have some of the most popular songs in Nigeria.
The richest musicians in Nigeria by endorsements, assets and total net worth from music are:
Don Jazzy has carved a path in the music industry over the past three decades that has earned him a net worth of $52 million and the status of the richest musician in Nigeria.
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Mo-Hits Records, which he co-founded with Oladapo Daniel Oyebanjo, also known as Dbanj, was instrumental in amassing Don Jazzy’s fortune.
Nevertheless, Don Jazzy and Dbanj eventually parted ways, resulting in the formation of Mavin Records in 2012, Nigeria’s leading record label.
Tiwa Savage, Wande Coal, Reekado Banks and Iyana have made names for themselves through Mavin Records. At the same time, it is Korede Bello, Dr. SID, D’Prince, Di’Ja, Johnny Drille, Ladipoe, DNA Twins, Rema, Crayon, Ayra Starr, Magixx, Boy Spynx and Bayanni who now front the company.
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Don Jazzy is the richest musician in Nigeria and has a keen interest in luxury cars and mansions. His car collection consists of a 2016 Cadillac Escalade, a Bentley Continental Flying Spur, a Range Rover Sport and a Porsche 911 Carrera.
Peter and Paul Okoye of Psquare are the second richest musicians in Nigeria with a combined net worth of $37.26 million. P-Square had a successful career in his prime, charging up to NGN 15 million per show, a significant fee considering inflation.
The duo’s career continued to be buoyant until 2016, when they violently broke up. Together with Burna Boy, P-Sqaure is one of the country’s most successful touring artists.
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One of the richest musicians in Nigeria, Paul Okoye of P-Square has a luxuriously furnished NGN 1.5 billion apartment in Banana Island, Lagos. He also has an expensive collection of cars including a Range Rover, G Wagon, Dodge Challenger and Porsche 718 Cayman.
Rudeboy of Psquare owns a gorgeous home in Parkview Estate, Ikoyi, Lagos, Nigeria and also owns Bentley Bentayga, Mercedes-Benz GLE43 AMG 4MATIC Coupe, Lamborghini Aventador Roadster and Lamborghini Huracan among others.
With an average of 20 million YouTube views per video, Davido, the son of one of Nigeria’s richest politicians, Chief Adeleke, is the third richest musician in Nigeria.
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Davido, who has a net worth of $27.6 million, is signed to Sony Records, a label that currently features SZA, Pink, Future and Meghan Trainor among others.
Davido, who once held the title of Africa’s best-selling artist, has a long string of achievements that culminated in his performance at the Qatar 2022 World Cup closing ceremony, cementing his place among Nigeria’s richest musicians.
Davido has won several awards including the BET and MTV awards and has secured sponsorship from MTN, PUMA and Guinness Nigeria as brand ambassadors after achieving global fame. His string of endorsement deals is the best proof of his status as one of the richest musicians in Nigeria.
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In 2021, Davido became the brand ambassador for Martell Cognac in a €12 million deal, while PlayStation hired him for a similar role in 2022.
Davido flaunts his reputation as one of Nigeria’s richest musicians with two luxurious homes: a NGN 140 million estate in Banana Island and a $20 million home in Atlanta.
Rolls-Royce Cullinan 2019, Bentley Bentayga, Bentley Continental GT, Range Rover SV Autobiography and Toyota Land Cruiser are Davido’s car collections.
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As one of the richest musicians in Nigeria, Davido is said to demand at least NGN 10 million for every show.
Wizkid, the first Nigerian to sell out London’s 02 arena three nights in a row, is the fourth richest musician in Nigeria with a net worth of $26 million.
Since the release of his first song ‘Holla at Your Boy’ in 2010, Wizkid has broken several national and international music records. A deeper look at Wizkid’s progress over the years reveals that his rise to the list of richest musicians in Nigeria was inevitable.
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Wizkid owns two mansions, one in Surulere, Nigeria worth about NGN 13 million and another in Los Angeles, California.
BMW X6 crossover, Porsche Panamera, Lamborghini Urus and Mercedes-Benz G63 AMG belong to Wizkid’s car collections.
“Essence” from Wizkid’s acclaimed 2020 album “Made in Lagos” is the first Nigerian song in history to enter the Billboard Hot 100 and Billboard Global 200 charts.
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The song was nominated for “Best Global Music Performance” at the 64th Annual Grammy Awards and was selected as the best song of 2021 by the American magazine Rolling Stone.
Apart from being the fourth richest musician in Nigeria, Wizkid is one of the most streamed artists in the country as Apple Music described him as “
Burna Boy, the first Nigerian to receive Grammy nominations and the most streamed Nigerian artist, Rema has a net worth of $16 million, making him the fifth richest musician in Nigeria.
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Since 2012, the Grammy-winning singer, rapper, composer and lyricist has been one of the genre’s global pioneers.
“Last Last” was one of American rapper Jay Z’s favorite songs of 2022 and was one of the 10 most searched songs on Google that year, one of only two non-Asian songs along with Harry Styles’ “As It Was”.
Much of Burna Boy’s status as one of Nigeria’s richest musicians is due to exposure through streaming, and his song ‘It’s Plenty’ has been named one of the most streamed songs of 2022.
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Burna Boy made history in 2021 when he won the 63rd Annual Grammy Awards for Best World Music Album, becoming the first Nigerian solo artist to win the award.
Burna Boy is one of the richest musicians in Nigeria and derives a significant portion of his income from tours and ticket sales. In April, he became the first Nigerian musician to perform at a sold-out show at New York’s Madison Square Garden.
Burna Boy’s status as one of Nigeria’s richest musicians is said to have increased by at least $7.3 million thanks to this sold out 20,789 venue.
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Burna Boy owns an eight-bedroom house in Lekki, Lagos, as well as several expensive vehicles, including a Range Rover Autobiography, 2022 Lamborghini Urus Novitec Edition, 2013 Ferrari 458 Italia and a Rolls-Royce Dawn Cabriolet.
Legendary African singer 2baba is the sixth richest musician in Nigeria with a net worth of $10.2 million.
2baba, the music superstar who shot to world fame with the 2004 song African Queen, has demonstrated his financial prowess in 2022 by donating a multi-million naira music studio to the Faculty of Music, Obafemi Awolowo University, OAU, Ile Ife, Osun State.
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On October 11, 2022, President Mohammed Buhari awarded the veteran with the Order of the Niger (MON) for his contributions to the music industry, among others. He has also been awarded with MTV Music Awards, Headies and BET Awards, among others.
Being one of the richest musicians in Nigeria, 2baba owns luxurious houses in Ikeja, Festac, Lagos Island and USA. He has been reported to own a Ferrari Coupe, a Toyota Land Cruiser and a Chevrolet Corvette Coupe, although he did a great job of not flaunting his fleet.
Known for his Yoruba rap and street hip hop styles, Olamide, who has a net worth of $15 million, is the seventh richest musician in Nigeria.
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The current president of YBNL Nation, Olamide who has produced artists like Asake, Fireboy DML, Jayboi and others has 10 albums and over 40 singles to his credit.
Apart from being one of the richest musicians in Nigeria, Olamide has won other accolades from the local music industry such as Best Indigenous Artist and Album of the Year.
Olamide has two luxury houses in Leki and Bariga, Lagos and a garage of luxury cars including Range Rover Sports, Mercedes-Benz G Wagon, Range Rover Sports V8, Toyota Venza and Rolls-Royce Phantom.
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Born on August 15, 1980, Timaya with a net worth of $9.8 million is the eighth richest musician in Nigeria. Before the release of “True Story”, he was a member of the music group “Dem Mama Soldiers”.
Timaya’s status as one of Nigeria’s richest musicians is enhanced by his role as CEO of the DM record label that debuted with King Perry. Runtown and Patoranking are two popular artists.
Timaya, who currently owns a $250 million house in Leki, Lagos State, is one
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