Discussions about the most prosperous figures in the music industry regularly engage music enthusiasts. It is widely acknowledged that the music world is profitable, yet the ways money is amassed remain ambiguous to many. Speculations persist that musicians engage in illicit activities to amass wealth.
These inquiries surface on the internet daily, prompting us to compile this list to provide an overview of the lives of some of Nigeria’s most affluent musicians.
1. Wizkid – $30 Million
Wizkid is ranked second on the list of richest Nigerian artists in 2022. He is a Nigerian singer and songwriter born on July 16, 1990. His musical journey commenced at the age of 11 when he began recording and released a collaborative album with his group, the Glorious Five. The release of his debut album, Superstar, in 2011 marked his ascension to stardom while signed to the record label EME owned by Nigerian singer Banky W. Wizkid enjoys global recognition and has amassed numerous awards. He also founded Starboy Music and possesses a lavish mansion in Surlere, valued at approximately $13 million, along with a residence in Los Angeles, California. His car collection is estimated at over #200 million.
2. Davido – $29 million
Davido, the CEO of Davido Music Worldwide, possesses multiple mansions, cars, and investments due to his affluent background. Besides his musical endeavors, the 30-year-old is a director in his father’s company and recently relocated to his mansion on Banana Island. Known as the “Nightlife King,” Davido frequents opulent clubs with his partner, Chioma. His car collection is estimated at around #700 million.
3. Don Jazzy – $20 million
Don Jazzy, with the real name Michael Collins Ajere, is the wealthiest record producer. He established Mavin Records and Mo’Hits, which previously comprised D’banj, Wande Coal, D’Prince, and others. Don Jazzy is the exclusive producer of all songs by his label’s artists and owns mansions in Lekki, Banana Island, and Los Angeles, in addition to a high-end vehicle collection valued at #300 million.
4. Burna Boy – $20 million
Better known as Burna Boy, Oluwadamini Ogulu, is a singer and songwriter from Port Harcourt. He is also the only Nigerian artist with his mother as his manager, demonstrating her effectiveness. His vehicle collection is estimated at more than #600 million.
5. 2Baba – $18 Million
2Baba, known as Innocent Idibia, is a veteran musician, record producer, and entrepreneur, recognized for his extended tenure in the industry. He was once the wealthiest musician in Africa and Nigeria before the emergence of Davido and Wizkid. His car collection is worth approximately #200 million.
6. P-Square – $16 Million
P-Square, a renowned duo in the Nigerian music landscape, has played a significant role in shaping the industry. They were born in November 1981 and achieved breakthrough success with their debut album, Last Night, released in 2002. Their reformation in 2021 reinforced their influence. Mr. P’s cars are valued at over $300 million, while Rudeboy’s collection is estimated to be nearly $500 million.
7. Olamide – $15 Million
Olamide Baddo, a prominent Nigerian rapper and singer, holds a dominant position in the music sector. The rapper gained prominence with his debut single, Eni Duro, which propelled him to success. He manages a #340 million car collection.
8. Phyno – $12 Million
Azubuike Nelson Chibuzor, known as Phynofino, is distinguished for his seamless rap style in English and indigenous languages. Apart from music, he has investments in real estate and fashion. His automobile assets are valued at nearly $300 million.
9. TImaya – $11.4 Million
Inetimi Alfred Odon, popularly known as Timaya, founded ‘Dem Mama Records Limited.’ His #250 million mansion in Lekki and a car collection valued at nearly #300 million highlight his investments.
10. Asa – $10.5 Million
Bukola Elemide, professionally referred to as Asa, gained prominence with her debut single, Eye Adaba. Nominated for numerous awards, her assets amount to $10.5 million.
Asa typically maintains a low profile and avoids social media. These figures dispel any misconceptions about the financial standing of Nigerian musicians, showcasing the substantial wealth they have attained through their diverse endeavors.