Top 10 Richest Artists in Nigeria 2020
Vibrant shows, mind-boggling endorsement deals, chart toppers, and a lot of business interests. Welcome to the world of the top 10 richest artists in Nigeria. They control more than 50% of the cash that floats around the Nigerian music industry. Over time, they have built up their brand through their art, sweat, and tears. So it’s no surprise that they’ve made this list. Take a look at them!
- Davido – Estimated Net Worth = $34 million
David Adeleke, otherwise known as ‘Davido’ is reportedly the richest musician in Nigeria. Boasting up to three studio albums, and great tunes like ‘Blow my Mind’ and ‘If’, it’s no wonder that fans love him. However, the 30 billion crooner is a force of nature when it comes to his net worth. Deals with brands like MTN and Pepsi sets him above the rest. What’s more, he’s under contract with global entertainment brand, SONY Entertainment. Also, it does help to have a father who can spend more than $60 million on a private jet!
- Wizkid – Estimated Net Worth = $25 million
Talent abounds here but it’s definitely not the only thing. Ayodeji Ibrahim Balogun, also known as Wizkid, is a fabulous singer and song writer. You’ll remember famous hits like ‘Holla at your Boy,’ ‘Joro,’ and ‘Ojuelegba’ as being club bangers. However, deals with SONY Entertainment, Nike, Ciroc, and Dolce&Cabbana, will put a smile on anyone’s face, and a lot of money in their account. Wizzy is currently growing a global fan base and the stats point to him being Africa’s greatest musical export.
- Don Jazzy – Estimated Net Worth =$17.5 million
“It’s Don Jazzy again.” This singular phrase has laced some of the best tracks in the Nigerian music industry. Michael Collins Ajereh is a bona-fide music producer, owner of MAVIN records, and tallent spotter. Musicians like D’banj, Korode Bello, and Tiwa Savage, have Don Jazzy to thank for the kind of careers they have. Most of his wealth also comes from endorsement deals with brands such as Johnnie Walker, MTN, and Loya Milk.
- TuFace Idibia – Estimated Net Worth = $14 million
Also known as Innocent Idibia, the African Queen crooner has the bank balance to go along with an alluring voice that’s unmistakably rich and compelling to listen to. First part of a band called The Plantashun Bois, TuFace went solo, and the rest they say, is history. He’s worth about $14 million with most of his wealth accumulating over the years from record sales, and deals with Campari and Partner Mobile.
- Dbanj – Estimated Net Worth = $12.5 million
Oladapo Daniel Oyebanjo, popularly known as Dbanj is one rich artist with a lot of history in the game. He was at one stage the best and richest musician in Nigeria but time outside of the spotlight has seen that crown taken away. However, the ‘Tongolo’ ace still has the clout and investments to still be on a list such as this. One of such investments is the Cream Platform said to be worth more than $80 million.
- Tiwa Savage – Estimated Net Worth = $12 million
Tiwatope Savage is the only woman on this list, and the richest female music icon in Nigeria. Put it this way, Tiwa is to Nigeria what Beyoncé is to the United States. She’s that good. Fortunately, she also has the bank balance, and top properties to back up this claim. In a couple of years, she’ll probably be somewhere up this list.
Kele Kele Love and Eminado are two of her best hits. Recently, she was signed to the Roc nation music label, and has multiple endorsement deals with Maggi, Pepsi and Konga. Not bad if you consider the Nigerian music industry is still a fierce place for women.
- Timaya – Estimated Net Worth = $11
A surprise right? Well, not to Inetimi Timaya Odon because man has he worked his ass off! Talent brought him to the spotlight but creativity, consistency, and ability to reinvent himself, has put him on this list and in the hearts of Nigerians. Further, the ‘Dem Mama’ and ‘UKwu!’ ace has deals with Globacom Nigeria, Hennessey Nigeria, and Tecno Nigeria.
- Olamide Badoo – Estimated Net Worth = $10.5 million
With album titles like Rhapsodi and YBNL, and club bangers like ‘Bobo’ and other chart toppers, this is one indigenous rapper that let his craft do the talking. But the fact is money also speaks, and Olamide Adedeji has plenty of it. Thanks to deals with giants like Monster Energy Drink, Sterling Bank, and more. However, he was the top most musician in Nigeria for a while, and no doubt sold more than he can remember.
- Phyno – Estimated Net Worth = $10 million
“Word on the street is Phyno came up too fast.” This is one of the popular lines in one of his hit songs. Perhaps Chibuzor Nelson Azubuike should have paid more attention to it because he’s one very rich man and artist. All his money doesn’t come from music though. Endorsements with Globacom Nigeria, Monster Energy Drink, and Nairabet, has made a difference to his bank balance.
- Burna Boy – Estimated Net Worth = $8 million
Damini Ebunoluwa Ogulu, popularly called Burna Boy is currently the hot topic on everyone’s lips including the international scene. He was recently nominated for a Grammy, and boasts a lot of hits like Ye, African Giant, Dangote, and Like to Party. Burna is signed to a string of international companies including the record label company Bad Habit/Atlantic Records and Warner Music Group.
What do you think? These are currently the richest artists in Nigeria. They know their craft and sell themselves well. A group like Psquare would have made the list but their break up and solo careers has split whatever earning power they had into two.