The Music and Entertainment industry is one of the best things that happened to the sleeping giant called Nigeria. Besides the oil & gas sector, the entertainment industry is about the most viable sector of our economy.
Our dear Nigerian musicians have been doing us proud and they make several millions to show for their hard work. In this post, we will be giving a rough analysis and ranking of the top 10 RICHEST musicians in Nigeria. The figures of their net worth are drawn from cumulative wealth, gig fee, endorsements and probable investments by these artists.
In the last calendar year, some of our top artists have been able to rake in loads of money for themselves and we would hence rank the big top 10.
10. Flavour – $9.5 million
Contemporary highlife king Flavour and street mafia Olamide are tied for the tenth position in the ranking of top 10 RICHEST Nigerian musicians. Flavour who is a fantastic live performer makes huge money from performing at high profile gigs. The singer is a brand ambassador for brands like Bullet Energy Drink, Hero Beer etc. Meanwhile, Olamide also charges quite a huge fee for shows, the Bariga born artist runs a yearly tour across UK, Europe, and America. He is a Hennessy & Glo ambassador and CEO of digital TV channel VOTS (Voice of the street). His current net worth is $9.5 million.
9. Peter Okoye and Paul Okoye – $10 million each
Rudeboy member of the defunct Psquare duo takes number 9 spot. Paul Okoye and his brother used to dominate the African music scene untilthey split up last year. The duo used to charge about highest gig fee for a Nigerian artist, that has somehow changed as he stands alone. Notwithstanding, Rudeboy is still a big shot in the music business.
The other half of the defunct Psquare duo, Peter Okoye aka Mr. P is still doing fine as a solo artist. Even before the split, Peter had solo endorsements deals with Kia motors, Olympic Milk etc. Since the breakup, Mr. P has embarked on solo tours around America, Europe etc. The dancer and singer has a new clothing line.
Paul and Peter Okoye were born on November 18th, 1981 in Jos, Plateau State. The brothers created the extremely popular band P-Square which was one of the most famous duos in Nigerian music until they decided to go separate ways.
The brothers earned crazy amounts of money when they performed together. It was estimated that they used to get $150,000 per concert in Africa and had a luxurious life.
Among their possessions were a big house and a private jet. Today, they both appeared on the ninth position of the rating, and have only about $10 million each.
8. Timaya – $10.5 million
Born Enitimi Alfred Odom, the Nigerian dancehall king is one of the top 10 richest artists in the game. The DM Records boss is not cheap when it comes to his gig fee. According to close sources, Timaya charges 8 million Naira to show up and perform at any event. Currently, Timaya has endorsements deals worth several millions with Nigerian TeleCo Glo and Cognac brand Hennessy. A few months back Timaya moved into a palatial mansion of a house in Lekki worth hundreds of millions. Timaya net worth is estimated at $10.5 million.
7. Phyno – $11 million
The musician’s stage name, Phyno, means phenomenal. The singer is indeed a phenomenal personality because he has many talents and desires.
The man wanted to be a pilot, doctor, he played drums and piano, and at the same time could create his rendition of every recording he heard. Fortunately, he had chosen to become a musician, and it was the right choice that brought him $11 million and made Phyno one of the world’s household names in music.
6. Olamide – $12 million
Olamide Adedeji is known in Nigeria as Olamide (his other nicknames are Olamide Baddo and BaddoSneh). He is a rising superstar of the Nigerian hip-hop music genre. The singer was born on March 15th, 1989, in Bariga, Lagos State. He is known for recording mostly in his native language, Yoruba.
His career blossomed in 2010 when he released his single Eni Duro and in 2011 his album Rapsodi. The successful album was followed by the second album YBNL, which featured a few hit singles that made Olamide popular in no time.
Today, he has seven studio albums and is featured on one compilation recording. He has won many awards like a NEA, at the most prestigious Nigerian and African award ceremonies.
The singer began his career in 2003 and even moved to Lagos for his careers. He has also acted as a producer for such well-known stars as Flavour, Timaya, Mr Raw and several others.
Olamide was also the first Nigerian celebrity to sign an endorsement deal with Ciroc. Currently, Olamide’s current net worth is about $12 million.
The rapper has three houses and several cars including a Mercedes-Benz G Class, Range Rover Sport, Range Rover V8 and Toyota Camry.
5. 2Baba (2Face) – $16 million
With over two decades strong in the Nigerian Entertainment industry, Innocent Idibia better known as 2Face or 2Baba is a double OG. The 42-year-old singer has a brand-friendly persona which has seen him clinch mouth-watering deals even ahead of younger colleagues. Currently has endorsements with Glo, Campari, etc., 2Baba has several real estate investments including his Rumors Night Clubs in Lagos. The “Gaaga Shuffle” crooner’s estimated net worth spikes to about $16 million Naira. He worked hard, and currently, is one of the best-known Afropop musicians. Since 2004, when his debut album Face 2 Face saw the world, he has released six albums. His musical compositions have brought him a number of awards like a BET Award, an MTV Europe Music Award, the Headies Award, and a net worth estimated at $16 million today.
4. Burna Boy – $17 million
Damini Ogulu, commonly known as Burna Boy, is a popular Nigerian singer and songwriter. His 2012 track, Like to Party, propelled him to fame.
In 2017, the singer signed with Bad Habit/Atlantic Records. The singer’s net worth is currently estimated at $17 million. His income comes from the sale of music, endorsement deals and other investments.
3. Don Jazzy – $18.5 million
Famous Nigerian producer and singer Don Jazzy became rich and famous due to his musical talent, persistence, and ability to interact with people.
His real name is Michael Collins Ajereh, and he was born on November 26th, 1982 in Umuahia, Abia State. Don Jazzy is the founder of the label Mo’Hits Records. It was founded due to the collaboration with D’Banj. Don Jazzy and D’Banj stopped working together in 2012, and Don Jazzy did not waste time. He shortly announced that he created a new label called Mavin Records.
The musician began his collaboration with such stars as Dr SID, Tiwa Savage, Wande Coal, Reekado Banks, Korede Bello, Di’Ja, and many others.
Aside from singing and producing, he also has profitable contracts with such companies as MTN and Loya Milk. Don Jazzy net worth is estimated at $18.5 Million today, and he possesses property in the Banana Island and several cars like a Porsche Carrera and Bentley.
2. Davido – $19 Million
Baddest!!! Nigerian entertainer and record label boss David Adeleke sits at the summit of the list of top 10 RICHEST Nigerian musicians. The DMW boss has arguably made the most money in the past 12 months than any other contemporary Nigerian artists. The singer is the leader of the popular 30 Billion Gang, he has made the most hit songs in the past year too. Since last year Davido has been touring around the world performing at sold out concerts during the ‘30 Billion Tour’ which is still ongoing. The past year has been fantastic for Davido, his tracks “IF”, “Fall” have crossed over 60 million views on YouTube. Davido has revealed that he has made over $1 million off ‘pon pon’ sound. He has secured new endorsements with perfume brand AXE, Infinix Mobility etc. He has been rumoured to have recently purchased a Bombardier Jet. Davido was born on November 21st, 1992 in Atlanta, the United States, but his family is Nigerian. This extremely popular young singer and entertainer has managed to earn impressive $19 Million.
1. Wizkid – $20 Million
Ayodeji Ibrahim Balogun, better known as Wizkid, used to be a simple boy who adored singing and had enough talent and passion for music recording. He was born in Surulere in Lagos State, on July 16th, 1990.
He released a collaboration album at the age of 11 with the group Glorious Five, which was formed by him and his friends in a church. He is also known as StarBoy and Lil Prinz. He gained popularity with the release of Holla at Your Boy, the song from his debut album Superstar in 2010.
Later, he has released three mega-successful albums, as well as one compilation album and even recorded a hit song One Dance with famous music performer Drake. This song appeared in Guinness World Records. Therefore, Wizkid became the first Afrobeat musician whose name was included in this book.
He also has a lot of endorsement deals with such companies as Glo and Pepsi. Wizkid has managed to earn his impressive $20 Million and buy two houses in Nigeria and US along with a Porsche Panamera, Mercedez Benz and BMW X6.
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