Top 5 Richest Musicians in Nigeria (Updated List & Net Worth)
Nigeria’s music industry is one of the most profitable in Africa, producing global superstars who earn millions from streaming, endorsements, and international tours. Some of these artists have turned their success into business empires, making them the richest musicians in Nigeria.
In this guide, we’ll break down the top 5 richest Nigerian musicians, their net worth, and how they make their money.
Let’s dive in.
1. Wizkid – $100 Million Net Worth
Real Name: Ayodeji Balogun
Main Genre: Afrobeats, R&B
Biggest Hits: “Essence,” “Ojuelegba,” “Come Closer”
Wizkid is not just a superstar in Nigeria—he’s a global Afrobeats icon. With a Grammy award, sold-out concerts, and major deals, he sits at the top of the richest musicians in Nigeria list.
How He Makes Money:
- Streaming & Record Sales – His albums generate millions on Spotify, Apple Music, and YouTube.
- Endorsements – He has signed multi-million dollar deals with brands like Pepsi, UBA, and Tecno.
- Concerts & Tours – Sold out London’s O2 Arena (20,000 capacity) three times.
- Investments & Real Estate – Owns properties in Lagos, Ghana, and London.
Key Takeaway: Wizkid built a global brand, making him a leader in Afrobeats.
2. Davido – $90 Million Net Worth
Real Name: David Adeleke
Main Genre: Afrobeats, Pop
Biggest Hits: “Fall,” “If,” “Unavailable”
Davido is not just an artist—he’s an entertainment mogul. Coming from a wealthy family, he turned his music into a multi-million-dollar empire.
How He Makes Money:
- Streaming Revenue – His songs cross 100M+ streams on Spotify and YouTube.
- Endorsements – Deals with MTN, Infinix, Puma, and Martell.
- Concerts & Tours – Charges over $500K per international show.
- Business & Investments – Owns a music label (DMW), real estate, and luxury assets.
Key Takeaway: Davido’s hustle, brand partnerships, and business moves make him one of Nigeria’s wealthiest musicians.
3. Burna Boy – $80 Million Net Worth
Real Name: Damini Ogulu
Main Genre: Afrobeats, Dancehall
Biggest Hits: “Last Last,” “Ye,” “Gbona”
Burna Boy is one of the biggest Afrobeats exports, winning a Grammy and performing on the world’s biggest stages.
How He Makes Money:
- Streaming & Album Sales – His “African Giant” and “Twice As Tall” albums generated millions.
- Touring Revenue – First Nigerian artist to sell out Madison Square Garden (20,000 capacity).
- Endorsements – Deals with Chipper Cash, Martell, and Pepsi.
- Luxury Lifestyle – Owns a $3M mansion in Lagos and luxury cars.
Key Takeaway: Burna Boy’s success proves global appeal boosts wealth in the music industry.
4. Don Jazzy – $75 Million Net Worth
Real Name: Michael Collins Ajereh
Main Genre: Music Production, Business
Biggest Hits (as Producer): “Dorobucci,” “Eminado,” “Oliver Twist”
Don Jazzy isn’t just a musician—he’s one of Nigeria’s top music executives. As the CEO of Mavin Records, he has created stars like Rema, Ayra Starr, and Johnny Drille.
How He Makes Money:
- Music Production & Record Label – Owns Mavin Records, home to top Afrobeats artists.
- Brand Endorsements – Deals with Loya Milk, Betway, and MTN.
- Investments & Tech Startups – Invests in fintech, real estate, and other businesses.
Key Takeaway: Owning a record label and discovering talent can be more profitable than being an artist.
5. Olamide – $50 Million Net Worth
Real Name: Olamide Adedeji
Main Genre: Hip-Hop, Afrobeats
Biggest Hits: “Wo!,” “Infinity,” “Melo Melo”
Olamide is one of Nigeria’s biggest rap icons, but he’s also a business genius. His record label YBNL Nation helped launch artists like Asake, Fireboy DML, and Lil Kesh.
How He Makes Money:
- Music Streaming & Album Sales – One of the highest-streamed Nigerian rappers.
- YBNL Record Label – Owns rights to multiple hit songs and artists.
- Endorsements – Deals with Ciroc, Globacom, and Itel Mobile.
- Concerts & Tours – One of Nigeria’s most booked performers.
Key Takeaway: Olamide’s strategy of signing artists keeps his income flowing.
Final Thoughts: What You Can Learn from Nigeria’s Richest Musicians
The richest musicians in Nigeria don’t just rely on music—they build brands, businesses, and investments.
Want to make money in music?
- Diversify your income – Think beyond streams and focus on endorsements, businesses, and tours.
- Build a strong personal brand – Top artists have global appeal and sponsorships.
- Invest in other artists – Labels like Mavin and YBNL prove that signing artists can create long-term wealth.
Nigeria’s music industry is booming, and the next superstar could be you. Keep grinding, stay consistent, and learn from the best!
Who’s your favorite Nigerian musician? Drop a comment below!
