Beyond the glittering awards and chart-topping hits, some artists possess musical prowess and command substantial wealth. While some of their wealth is obtained from music, others also obtain it through endorsement deals with reputable companies like Betking, Bet9ja, Nike, Pepsi, and even real estate.
What ties these artists together is a shared affinity for partnership deals, particularly with various betting sites. These platforms actively collaborate with celebrities to tap into their extensive fan base.
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A company like Betking, for example, is one of those betting sites with a penchant for partnering with high-profile celebs. Betking is already one of Nigeria’s leading bookmakers, and having either of these musicians on board would further consolidate their position on top of the tree.
In our exploration, we delve into the net worth of the seven richest musicians, shedding light on the diverse avenues through which they amass their fortunes.
1. Wizkid – $30 million net worth
Born Ayodeji Ibrahim Balogun in 1990, WizKid, at 32, is a celebrated Nigerian singer, songwriter, and record producer. His musical journey took off in 2009 with EME Records, and hits like “Holla at Your Boy” and the globally recognised “One Dance” with Drake made him a household name. In 2013, he founded Star Boy Entertainment, showcasing his business acumen.
WizKid’s accolades include being the first Nigerian to win a Grammy in 2020 and featuring on Beyoncé’s “Brown Skin Girl” in 2021.
With a reported net worth of $30 million, he thrives in music and through endorsements with Guinness, Pepsi, and others. Beyond his artistic pursuits, WizKid invests in real estate, owning properties in Los Angeles and Lagos.
As Nigeria’s musical and entrepreneurial standout in 2023, WizKid continues to redefine success in the industry and beyond.
2. Don Jazzy – $28 million net worth
Don Jazzy, the second wealthiest musician in Nigeria with a net worth of $25 million in 2023, has left an indelible mark on the music industry over three decades. Co-founding Mo-Hits Records and later establishing Mavin Records in 2012, he has propelled artists like Tiwa Savage and Rema to stardom.
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His influence spans the CD, download, and streaming eras, producing hits like “Oliver Twist.” Beyond music, Don Jazzy indulges in luxury with a notable car collection featuring a 2016 Cadillac Escalade, Bentley Continental Flying Spur, Range Rover Sport, and Porsche 911 Carrera. He also owns three Lekki, Banana Island, and Los Angeles mansions.
3. Davido – $27.6 million net worth
Davido, the son of Nigeria’s wealthy politician, Chief Adeleke, claims the spot as the third-richest musician in Nigeria in 2023, boasting an impressive average of 20 million YouTube views per video. With a net worth of $27.6 million, Davido is a standout figure contracted to Sony Records alongside global icons like SZA, Pink, Future, and Meghan Trainor.
His illustrious career includes being Africa’s former best-selling artist and a notable performance at the 2022 World Cup closing ceremony in Qatar, solidifying his status among Nigeria’s wealthiest musicians. Accolades such as BET and MTV awards and lucrative sponsorships from 1xBet, MTN, PUMA, and Guinness Nigeria showcase Davido’s global appeal and financial prowess.
In a testament to his influence, Davido secured a €12 million deal as the brand ambassador for Martell Cognac in 2021 and a similar role with PlayStation in 2022. His opulent lifestyle is mirrored in two lavish homes—a $20 million property in Atlanta and a ₦140 million residence in Banana Island. His automobile collection includes a Rolls-Royce Cullinan 2019, a Bentley Bentayga, a Bentley Continental GT, a Range Rover SV Autobiography, and a Toyota Land Cruiser.
With a mansion in Georgia, USA, and two homes in Lagos, Nigeria (including one in the exclusive Banana Island), Davido epitomises luxury living. Not to be overlooked is his ownership of a Bombardier Global 6000 private jet, affirming his status as a true icon in Nigeria’s music industry and beyond.
4. Burna Boy – $20 million net worth
Burna Boy, The African Giant, commands a $20 million net worth, securing the fourth spot among Nigeria’s richest musicians in 2023. Rising to global prominence in 2018, he is the first Nigerian with consecutive Grammy nominations and the second most-streamed Nigerian artist after Rema.
His opulent lifestyle includes a collection of high-end vehicles housed in his Lekki mansion, featuring a Red Rolls Royce Dawn Convertible, Ferrari 458 Italia, Bentley Continental, and a Mercedes Benz G-Wagon. With a net worth of $20 million, Burna Boy continues to make waves globally.
His musical journey since 2012 has seen him become a Grammy-winning artist, with hits like “Last Last” gaining recognition and even becoming one of Jay Z’s favourites in 2022. Burna Boy’s wealth is fueled by streaming success, notably with “It’s Plenty” named one of 2022’s most streamed songs.
Touring and ticket sales contribute significantly to his income, with the historic sold-out show at Madison Square Garden in April 2023 boosting his wealth by at least $7.3 million.
5. Olamide – $15 million net worth
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With a net worth of $15 million, Olamide, the Yoruba rap and street hip-hop maestro, ranks as the fifth richest musician in Nigeria in 2023. As the president of YBNL Nation, he has produced artists like Asake and Fireboy DML, boasting an extensive discography of 10 albums and over 40 singles.
In addition to musical accolades, Olamide has secured honours such as Best Indigenous Artist and Album of the Year, showcasing his multifaceted influence in the local music industry. His opulent lifestyle includes two homes in Lekki and Bariga, Lagos, and a garage filled with luxury vehicles, including a Range Rover Sports, Mercedes-Benz G Wagon, Range Rover Sports V8, Toyota Venza, and a Rolls-Royce Phantom.
Olamide’s enduring impact on the Nigerian music scene and impressive financial success solidifies his position as an iconic industry figure.
6. Psquare – $13 million net worth
Peter and Paul Okoye of Psquare jointly claim the title of the sixth-richest musicians in Nigeria in 2023 with a combined net worth of 26 million USD. Despite their 2016 split, their financial success during their prime, charging up to 15 million NGN per performance, remains a significant milestone in Nigerian music.
Paul Okoye, one-half of Psquare, resides in a 1.5 billion NGN condominium in Banana Island, Lagos, with an impressive collection of luxury vehicles. Meanwhile, Peter Okoye, known as Rudeboy, owns a magnificent home in Parkview Estate, Ikoyi, Lagos, and a fleet of high-end automobiles, including a Bentley Bentayga, Mercedes-Benz GLE43 AMG 4MATIC Coupe, Lamborghini Aventador Roadster, and a Lamborghini Huracan.
Psquare’s musical journey, spanning genres like dance-pop, R&B, hip-hop, and Afropop, began in secondary school. Apart from music, they actively invest in real estate. Each twin brother is estimated to be worth $13 million.
7. 2Baba – $10.2 million net worth
With an estimated net worth of $10.2 million, 2baba is the seventh-richest musician in Nigeria. The legendary African singer gained global recognition with his 2004 hit “African Queen,” solidifying his enduring musical legacy.
In 2022, 2baba showcased his financial prowess and commitment to nurturing talent by donating a multimillion-dollar music studio to the Faculty of Music at Obafemi Awolowo University. This act of philanthropy adds to his impressive list of awards, including the Order of the Niger (MON) from President Mohammed Buhari, MTV Music Awards, Headies, and BET Awards.
As one of Nigeria’s wealthiest musicians in 2023, 2baba maintains a modest profile despite owning luxurious residences in Ikeja, Festac, Lagos Island, and the United States. His collection includes a Ferrari Coupe, a Toyota Land Cruiser, and a Chevrolet Corvette Coupe.
Hailing from Benue, 2baba’s substantial net worth exceeds $10 million, solidifying his status among wealthy Nigerian singers. He has evolved into a prominent Nigerian musician with the Plantashun Boiz group since his early days.
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