Top 10 Richest Musicians in Nigeria & their Net worth (2019 Forbes List)
Fans always get stuck in a debate about who the richest musician in Nigeria is in 2019; hence we decided to make our own research and provide you with an accurate list, based on Forbes recent rankings. You will soon find out the top ten richest musicians in Nigeria and their net worth in 2019.
There can be no doubt whatsoever that the Nigerian music industry is highly lucrative. The popular music artistes go home with mammoth pay-checks every year from striking several lucrative deals with top brands and companies all over the globe.
Understandably, their numerous fan base all over Nigeria are more than happy to follow and revel at their success. It is good to celebrate with them that celebrate.
But, as a matter of fact, there are several other yardsticks fans use in measuring the success of the top celebrities in Nigeria; the number of social media followers they command is one of them.
Musical performance over the past couple of years contribute a lot to a musician’s net worth; however, there are several other things to consider.
Aside from what many singers earn from the lucrative musical deals they strike & from the shows they attend, many of them have private ventures.
Therefore, calculating the net worth of a musician demands to put their private businesses into consideration.
Top 10 richest musicians in Nigeria (2019)
1. Davido – $25 million Net worth
David Adeleke, popularly known by his stage name Davido, is at the very top of our top 10 richest musicians in Nigeria in 2019, with a net worth of ₦9 Billion ($25 million). In other words, Davido is currently the richest musician in Nigeria.
Over the past year, it’s almost like every time Davido visits the studio to record any song it turns out to be a hit song; which explains why he has experienced so much success.
Coincidentally, Davido is also the most followed Nigerian celebrity on Instagram and other social platforms, and his tracks amass the highest number of views on YouTube.
Besides being OBO (Omo Baba Olowo), he went all out to become a made-man on his own note. And is currently signed up with several huge companies within& beyond Nigeria on lucrative endorsement deals.
Here’s a brief history of Davido:
He was born on the 21st of November 1992 in Atlanta, USA; into one of the wealthiest families in Nigeria.
Right from childhood, he developed a strong interest for a career in music; and despite, according to rumours, his father not initially endorsing the concept of his son becoming a musician, Davido had his own ideas and followed his passion. Ultimately, his dad succumbed and gave him the support he needed.
His perseverance and hard work have earned him a deserving 1st place spot in our top 10richest musicians in Nigeria.
Davido has several luxurious cars, mansions and recently added a private jet to his long list of possessions.
Many people are of the opinion that Davido had an easier start compared to several other musicians who are from broke or mid-class families. However, it’s imperative to say that Davido is highly talented and simply knows how to kill beats. Don’t you agree?
2. Wizkid – $22 million net worth
Ayodeji Ibrahim Balogun, popularly called by his stage name Wizkid, is the 2ndrichest musician in Nigeria with a net worth of ₦8 Billion ($22 million). Just a tiny fraction behind Davido in the pecking order.
He was born on On July 16th, 1990 in Surulere, Lagos State Nigeria, into a middle-class family. Similar to Davido, he had a passion for music right from a very young age, and even released his first amateur collaboration album at a very young age of 11, along with a group of four other friends.
Wizkid’s unique musical talent was first discovered by Banky W., who was responsible for overseeing the release of his first album, Superstar, and several other successful tracks.
The track that brought him into the limelight was titled holla at your boy; one of the tracks in the Superstar album which was released in 2010.
Wizkid has a lot of lucrative endorsement deals, with top brands all over the world, notably, Glo and Pepsi. And now owns a record Label named Star Boy Records.
His path to success was far from a straight one. He had to overcome the challenges of coming from a middle-class family to earn second place in our list on the top 10 richest musicians in Nigeria.
3. Don Jazzy – $20.8 million Net Worth
The brain behind Mavin Records, Don Jazzy, is also one of the top 10 richest musicians in Nigeria. He currently sits the number 3 spot in our list, with a net worth of $20.8 million(₦7.5 Billion).
Don Jazzy’s real name is Michael Collins Ajereh, and he was born on the 26th of November,1982 in Umuahia, Abia State Nigeria.
He rose to become a prominent figure in the Nigerian Music industry after he collaborated with D’banj to start up one of the biggest record labels in the early 2000s. The then Mo’Hits boasted some of the top musical talents from around Nigeria.
Not quite long after Mo’hits gained huge popularity, it had to be dissolved due to one of the founding fathers, D’Banj opting out due to personal reasons.
In a bid to save his musical career, Don Jazzy quickly launched another music label, and this time he called it Mavin Records; which has so far continued to experienced massive success.
Mavin boasts some of the best young talents from around Nigeria, including none other than Reekado Banks, Korede Bello, etc. along with another top, top singer, Tiwa Savage.
In similar fashion to how Mo’Hits records were run, Don Jazzy, aside from being the music producer, is also one of the main musicians.
His exploit in the Nigerian music industry has not gone without notice. He has a huge number of loyal fans on social platforms. Furthermore, he has earned himself a deserving spot in our list of top 10 richest musicians in Nigeria.
Don Jazzy and Mavin Records have several sponsorship deals with top companies and brands from around the world. If you’re a lady, he is one of the most eligible bachelors around, because he’s still not married yet, and is not known to be in any relationship.
4. D’Banj – $16.6 million net worth
Unsurprisingly, Oladapo Daniel Oyebanjo, popularly known by his stage name D’Banj, takes a well-deserved 4th place in our list of Nigeria’s top 10 richest musicians; just behind his former partner Don Jazzy. D’Banj’s net worth is currently estimated by Forbes to be around $16.6 million (₦6 Billion).
He was born on the 9thof June, 1980, in the city of Zaria, Kaduna State. In the early 2000s, D’Banj released several hit songs while he was still recording with Mo’Hits.
After splitting from Don Jazzy, he carried on with his musical career, releasing several hit songs including the then popular Oliver Twist. Some of his tracks have earned local and international awards. He is an ambassador for top brands like Globacom, Bank of Industry and many more others.
To hire D’Banj to your show means that you have to fork out to the tone of ₦6 million. It could even get higher than that, depending on several other factors.
5. 2Baba – $16.3 million net worth
Another popular face that’s making our list of the top 10 richest musicians in Nigeria is none other than the legendary Innocent Ujah Idibia, also known as 2Baba or 2face. He is estimated by Forbes to own assets worth to the tune of $6.3million (₦5.9Billion).
He was born on the 8thof September 1975, and started his musical career earlier than every other person making this list.
With over 20 active years in the industry, it is no surprise that he makes our list. His many years of activeness in the industry has also earned him several endorsements deals with top brands like Glo, Campari, Guinness, and many more others.
He has won several awards, owns several properties and is currently the CEO and owner of Hypertext records.
6. Peter Okoye (Mr P) – $16.1 million net worth
Peter Okoye, one of the extinct P-Square Duo, also makes our list of the top 10 richest musicians in Nigeria, with a net worth of $16.2Million (₦5.8Billion) as estimated by Forbes.
He was born on the 18th of November, 1981 in the city of Jos and started his musical career along with his twin brother, Paul Okoye. Together they produced the most successful musical duo Nigeria and Africa had ever seen.
Unfortunately, due to personal reasons, the successful musical duo had to split up; and, as a result, they now pursue separate musical careers and net worth. He currently goes by the stage name Mr P.
Although everyone’s favourite musical duo, P-Square, are no longer together, they are both doing very fine on their own. Peter Okoye is currently signed up with Olympic Milk, Kia Motors, and several other huge companies on lucrative sponsorship deals.
7. Paul Okoye (Rude Boy) – $15.6 million net worth
Also making our list of top 10 richest music artistes in Nigeria is none other than Paul Okoye – the other half of the defunct P-Square duo. He is estimated by Forbes to have a net worth of $15.6 million (₦5.6 billion), which is just a few digits shy of his twin brother’s net worth.
In like manner, he was born in Jos and began his musical career in the University of Abuja where he studied. He and his brother are renowned for their super-talented dancing and singing abilities. He appears to be less of a dancer than his twin, though.
In any case, he has been doing extremely fine on his own and has remained with his elder brother, Jude Okoye, who had been the producer for the then P-Square. Paul Okoye currently goes by the name Rude Boy.
8. Timaya – $13 million net worth
Enitimi Alfred Odom, popularly known as Timaya, is also one of the top 10 richest musicians in Nigeria, with a net worth of $13 Million (₦5 billion) according to Forbes’ estimations.
Timaya’s musical career is over a decade old, and he has had one the most active voices in the music industry. Give the beat to Timaya and he’d kill it; that was once the joke that paraded the music industry.
There’s practically no show in the south-south the “Egberi Papa 1 of Bayelsa” will not show his face. And that explains why he has amassed so much fortune for himself over the past couple of years.
Timaya is currently owner and CEO of DM Record Label (Dem Mama Records Label). Aside from owning a record label, and has sponsorship deals with multiple top brands like Glo and Hennessy.
His business, mansions and fleet of some of the latest luxurious cars are what was summed up to calculate his 5billion nairas net worth.
9. Bank W – $9.7 million net worth
Olubankole Wellington, Popularly called by his stage name Banky W, is the 9th most wealthy musician in Nigeria, with a net worth of $9.7 Million (₦3.5 billion). He is noticeably 8 places behind his former boy.
Notwithstanding, to make our list of top 10richest musicians in Nigeria is in itself a huge, huge achievement. And as a matter of fact, he did it in style.
Banky W sings in a kind of way that’s unmatched. His unique vocals are, without doubt, one of the best in Nigeria. No wonder he has experienced so much success in a country where R&B isn’t really the most fancied music genre.
His first big endorsement deal was signed with 9Mobile (formerly Etisalat), after which he went on to sign several lucrative deals with top local and foreign brands; notably, Uber. He is also the owner and CEO of EME records. All of his assets, businesses and deals are what our sources gathered to calculate his net worth.
He recently married one of the prettiest faces in the Nigerian movie industry, Adesuwa.
10. Olamide – $8.9 million net worth
Olamide Adedeji, popularly known as Olamide Badoo, also makes our list of the top ten richest musicians in Nigeria in 2019, with a net worth totalling the sum of $8.9 million (₦3.2 billion).
He is the current owner and CEO of YBNL record label that boasts a crop of top musical talents in Nigeria like LilKesh, Adekunle Gold, Chinko Ekun & Many more others.
Olamide’s musical career came into limelight in the early part of 2011 after releasing his debut album, Rhapsody. From the nation, he has gone on to release several albums and hit singles.
He has been one of the most consistent performers in the Nigerian Music industry. And has won several music awards including Hedges, MTV Base and many more.
His consistent performance paid shows and lucrative endorsement deals with top brands have done enough to earn him a well-deserved10th place richest musician in Nigeria.