Have you ever been curious about who the highest-paid musicians in Nigeria are? Every day, we witness another video of a famous Nigerian musician or band flaunting their affluent lifestyle, including frequent international travel and purchasing the world's priciest and most luxurious real estate. You'll have to agree with me that these musicians are living well within their means, what with the profits they're bringing in from album sales, live performances, concert tours, endorsement agreements, and other sources of income.
However, as the adage goes, "not everything that glitters is gold"; that is, not everything you see on social media is genuine; most of these musicians are merely attempting to fit in by living phony lifestyles, while just a small number are the actual BIG BOYS in the industry. Some singers are great at flaunting their wealth, but even if you don't know who they are, you'd be surprised by how much money they have.
Rank | Artist | Net worth |
|---|---|---|
1 | Davido | $40 million |
2 | Wizkid | $30 million |
3 | Don Jazzy | $20 million |
4 | Burnaboy | $20 million |
5 | Tuface | $18 million |
6 | Psquare | $16 million |
7 | Olamide | $15 million |
8 | Phyno | $12 million |
9 | Timaya | $11.4 million |
10 | Asa | $10.5 |
As such, in this article, you will find the Forbes list of the top 10 richest musicians or artists in Nigeria, along with their net worth and sources of income.
Forbes's Top 10 List of Nigeria's Highest-Paid Musicians
1. DAVIDO
David Adedeji Adeleke, better known by his stage name, Davido, has a net worth of $20 million, making him the second-wealthiest artist in Nigeria behind Wizkid. Davido is one of the hardest working artists in Nigeria, despite originating from an affluent family (his stage name, "Omo Baba Olowo," translates to "son of a rich man").
The youthful music sensation not only makes millions of naira through his music, but also from his many endorsement deals as an ambassador for major corporations. Davido is widely considered to be among Nigeria's most divisive musicians. He has successfully leveraged this reputation to build his brand and reap massive financial rewards.
In April of 2012, Davido made headlines when he inked a $30 million sponsorship agreement with Mtn, Nigeria's largest telecom network. Davido, supported by the Guinness business, played at the Guinness World of More concert in October 2013 among other major Nigerian musicians.
In May of 2018, Davido signed a multimillion-naira endorsement deal with the Infinix Smartphone Company. He is also affiliated with the international brand AXE Deodorant, First Bank Nigeria, and the rapidly expanding payment platform and fintech solution Bitsika. When performing in Nigeria, he costs between 10 and 40 million naira, or around $30,000 to $35,000.
Davido is one of the most popular African musicians on the video sharing website YouTube; his song "FALL" has racked up over 200 million views on the site and is the highest-charting Nigerian pop song in Billboard history. He is the first and only Nigerian performer to achieve such a feat; his song IF has had over 127 million views, and his most recent single, FEM, received over 2 million views in only 24 hours.
The Lekki, Lagos, Nigeria, home that Davido owns is a four-bedroom semidetached duplex with a jacuzzi, swimming pool, and a well-equipped gym, and it is valued at over 140 million naira. He reportedly has a $20 million mansion in Atlanta, Georgia, as well as a mansion in Banana Island, Lagos, Nigeria, that he purchased for many millions of naira.
The OBO himself has excellent taste in exotic vehicles, as evidenced by the collection of a Rolls Royce Cullinan (valued at 350 million naira), a Bentley Bentayga (valued at 100 million naira), a Range Rover Sport (valued at 80 million naira), a Mercedes-Benz GLE 450 (valued at 80 million naira), and most recently, a Lamborghini Huracan Coupe (valued at Davido's previous car collection included a $35 million Porsche 911 Carrera, a $30 million Mercedes-Benz G-Wagon, a $30 million Toyota Land Cruiser, a $25 million Porsche Panamera Turbo S, a $25 million Audi R8 Coupe, a $17 million Chevrolet Camaro, and a $5 million Honda Accord, all acquired before he turned 19.
To judge by the contents of his garage, Davido must have at least one of the most costly automobiles in the country. In 2019, he was said to have purchased a private plane for himself, but it turned out to be his father's.
In reality, Davido has more over 18 million Instagram followers and over 7.9 million Twitter followers, making him the most followed African performer on both platforms. Thanks to his massive online following, he is able to generate more income than most famous people. Hooper HQ, a London-based Instagram scheduling service, claims that davido is the wealthiest social media personality in Africa because he charges $91,800 (34.9 million naira) every post.
His performances and events consistently draw large crowds from across the world; following the huge success of his 30 Billion Gang concert in 2018, he sold out the O2 Arena in London in 2019 and played with other major Nigerian artists.
While attending Oakwood University in Alabama, USA, Davido found his passion for music. He bought some instruments and began producing beats in his dorm room. However, he eventually had to quit college due to poor academic performance. Even though his dad didn't approve of his being a musician, he moved back to London to pursue music full-time. In 2015, he returned to finish his degree at Babcock University, where he had previously earned an Associate's in music.
Davido's debut studio album, Omo Baba Olowo, which included prominent Nigerian musicians at the time, catapulted him into the public eye in 2011. His second song, Dami Duro, was similarly successful across the country.
Davido may have been born into affluence, but he still had to put in a lot of hard work to get where he is now. The name Davido is now synonymous with African music. Over the past decade, he has delivered us song after success. He has mastered the music industry and understands what his fans want.
Davido's overseas collaborations with major artists have also been fruitful. Akon, Meek Mill, Popcaan, Chris Brown, Tinashe, Wale, Rae Sremmud, Young Thug, Quavo, R.kelly, Khalid, Trey Songz, Boogie with da hoodie, Gunna, Cassanova, Becky G, and others have all collaborated with him, and his most recent album, A Better Time, released on November 13, 2020, features Nicki Minaj, Lil Baby, Nas, Young Thu.
See video, Davido’s mansion, exotic cars and luxurious lifestyle
In addition to his many nominations and victories, he received the Best Newcomer Award at the 2012 Kora Awards and the Best International Act at the 2014 MTV Video Music Awards, both of which he also won. prizes, including Best Male West African and Artist of the Year at the African Muzik Magazine Awards, Best Male Artist of the Year at the MTV Africa Music Awards, World's Best Male Artist at the World Music Awards, and a bunch more.
2. WIZKID
With a net worth of $22 million, Ayodeji Ibrahim Balogun, better known by his stage name Wizkid, is the richest and wealthiest singer and artist in Nigeria. He has endorsement deals worth millions of naira, which has elevated him to the top rank among Nigeria's richest musicians and artists. A one-year endorsement agreement for 54 million naira ($350, 000) was struck by Wizkid with Pepsi in 2012, and it was then extended for an additional two years. In 2013, the same year he inked an endorsement agreement with Guinness for the Guinness World of More event that took place at the Eko Convention Centre on Victoria Island in Lagos, he also agreed to an N110 million contract with Mtn.
In 2015, Wizzy was appointed as one of Globacom's top brand ambassadors; the agreement was for 128 million Naira. In 2017, he was appointed as a brand ambassador for the well-known vodka company Ciroc, and he had his own personalized Starboy Ciroc bottles made. In 2018, he took part in the Dolce & Gabbana fashion show in Milan and received $20,000 for wearing a mask and D & G clothing as he walked the runway. The same year, Wizkid signed a lucrative endorsement deal with Nike to create and unveil the Nigerian Super Eagles' official jersey for the 2018 World Cup in Russia. The deal is worth over 1.3 billion naira ($3.75 million).
Starboy signed an endorsement contract for $3 million, or 1 billion naira, with the United Bank for Africa (UBA) Group in 2019. In 2020, he will also sign a contract with Tecno Mobile, one of the leading mobile technology manufacturers. He was recently introduced in a commercial picture as the face of Puma after being appointed as the newest ambassador for the global sportswear and apparel company.
Wizkid owns several expensive vehicles, including a Bentley Continental GT Speed Convertible worth 50 million naira, a Mercedes Benz G63 AMG worth 65 million naira, a 2012 Mercedes-Benz Kompressor worth 9 million naira, a BMW X6 Crossover worth 12 million naira, a Porsche Panamera worth 13 million naira, a Porsche Cayenne worth 18 million naira, and a Porsche Cay
Starboy makes an absurd amount of money from his concerts and international tours in addition to song sales. Wizkid's performances range in price from 15 to 50 million Naira; during his yearly tours of the UK and the US, he often sells out venues like the O2 Arena. In 2018. Wizkid became one of the most paid musicians in the world after receiving 50 million rupees (more than 245 million naira) for his appearance at an Indian royal wedding.
He also has Nike-produced merchandise for his albums Made in Lagos MIL and Starboy, which he has sold several times. According to a London-based Instagram tool scheduling company, Hooper HQ, Wizkid charges $57, 300 (21.8 million naira) per post on Instagram, making him one of the most popular African artists on social media and one of the richest artists and musicians in Nigeria. He is also one of the most followed Africans online.
Since he was a young boy, Wizkid has had a gift and a great enthusiasm for music. In fact, he began recording songs at the age of 11 and released his debut album in association with some of his church buddies. The best afro beats singer in Africa and the richest and wealthiest musician in Nigeria, Wizkid has always dreamed of becoming famous since he was a small child.
He has worked on several significant and fruitful projects and partnerships with well-known artists domestically and abroad. He has collaborated with well-known musicians, including Drake, Chris Brown, Ty Dolla Sign, Skepta, Trey Songz, French Montana, Kranium, Future, H.E.R., Ella Mai, and Damian Marley. He was also a featured artist on Beyonce's album, The Lion King.
The One Dance song Wizkid collaborated on with Drake made him the first Afrobeat artist to have his name included in the Guinness Book of Records for being a part of the most streamed music in the world. Wizkid was also the first Nigerian artist featured on the US Billboard Hot 100. Additionally, this song topped the charts for over ten weeks in more than 15 other nations. His most recent album, Made in Lagos, debuted at number two on the Billboard Hot 100 World Album List on October 30, 2020, and was the first African album to do so on Spotify's Global Album chart.
See Video, Wizkid’s mansion, exotic cars and luxurious lifestyle.
Furthermore, the Startboy has been recognized with many domestic and international honors. With his help and participation in Drake's smash hit "One Dance," featured on Drake's album Views, he was nominated for a Grammy Award for Album of the Year in 2016. For his part in the music video for "Brown Skin Girl," Beyoncé's 2019 smash single, Wizkid was awarded the Grammy for Best Music Video on March 14, 2021.
Among his other accolades, he was named Male Artist of the Year and Hottest Single of the Year at The Headies in 2015 for his smash single "Ojuelegba." In 2015, his album "Ayo" was named Best R&B/Pop Album at The Headies (Nigeria Entertainment Awards). To his credit, he has a Ghana Music Award for African Artist of the Year (2016) to his name (African Pride Awards). In 2017, he was named the All Africa Music Awards' Song of the Year for his smash hit "Come Closer," featuring Drake and the Best West African Artiste and Artist of the Year. In 2019, he was named the Song of the Year for his smash hit "Fever" by both the AFRIMA and the MOBO Awards. Aside from a slew of other honors, in 2020 he won the Ashford & Simpson Songwriter's Award for his hit single Brown Skin Girl featuring Beyoncé at the Soul Train Music Awards and the NAACP Image Award for Outstanding Duo or Group at the NAACP Image Awards.