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Are you curious about the top 10 richest musicians in Nigeria in terms of their wealth? If so, you’ve come to the right place! Here we provide a list of the Top Ten Richest Musicians In Nigeria, along with their net worths and assets.
From hip-hop artist Wizkid to legendary singer Tuface Idibia, these artists have been instrumental in pushing Nigeria’s music industry further into the global streaming spotlight.
So if you’re looking for insight into Nigeria’s richest entertainers and potential ways to receive rapid cash, be sure to read this article!
Top 10 Richest Musician In Nigeria
Nigeria’s music industry has seen tremendous growth over the past few years, thanks to several highly successful Nigerian musicians.
Wizkid, Don Jazzy, Tuface Idibia, Davido and other top Nigerian artists have propelled Afro Beats to global recognition worldwide. Below are the top 10 richest musician in Nigeria.
10. Asa – $10.5million Networth
We start our top 10 richest musician in Nigeria with Nigerian/French musician Asa Bukola Elemide, better known as Asa, who first came to prominence with her debut single, “Eye Adaba.”
That song quickly catapulted her to the winner of the 2008 Constantin Award in Paris. This prestigious award was decided by a panel of 19 music industry professionals!
Since then, Asa has been nominated for multiple awards, including several Headies in 2015 for Best R&B/Pop Album and Best Vocal Performance (Female). After a brief hiatus, she returned with new material “V”.
Unfortunately, due to her desire for privacy, we’re unable to learn any details about her homes or cars. Asa currently has an amazing net worth of 10.5 million dollars!
9. Timaya – $11.4million Networth
Timaya, a.k.a Plantain Boy, is one of Nigeria’s wealthiest and most successful musicians.
Born on August 15th, 1980, Timaya has an estimated net worth of $11.4 million—putting him in 9th place on Clacified’s list of Nigeria’s richest musicians.
He made his money through DM Records, the music label he created; plus the hits released over the course of his career—one such hit being 2007’s “True Story”, followed by other top songs like “Gift and Grace” in 2008 and “De Rebirth”.
His vast wealth also comes from his ₦250m mansion up in Lekki, Lagos State and the multiple colour Mercedes G-wagons that often make headlines online.
Other big names signed to his label include King Perry, Runtown and Patoranking.
8. Phyno – $12 million Networth
Having an estimated net worth of $12 million Phyno has made a name for himself as one of Nigeria’s top musicians.
Starting his career in 2003, he has since covered everything from music production to collaborations.
He and Olamide Baddo have been friends since they both rap in Igbo.
In addition to being awarded the best song and collaboration, Phyno also had roles in Genevieve Nnaji’s “Lionheart” movie and starred in the video for “For The Money” with Peruzzi.
He had endorsement deals with brands such as Nairabet, Nigeria breweries, and Airtel Telecommunications, among others.
Moreover, he owns a flat duplex at Chevron Drive valued at ₦170 million with 3 bedrooms, a ₦70 million house in Enugu, and numerous cars.
His newest single is by collaborating with Tekno on the song “Current.”
7. Olamide – $15 million Networth
With a net worth of $15 million, Olamide Adedeji deserves to be 7th on our list of top 10 richest musician in Nigeria.
The popular rap artist and president of YBNL Nation was born on March 15th, 1989 and has been in the music industry since day one-he started out with Coded Tunes label.
Over the years, he’s released 10 albums, 40 Eps and bagged several awards along the way.
Most recently, his feature on Portable’s Zazu Zeh single has been a massive hit that propelled him to even greater heights.
Olamide also hinted at his next body of work possibly being his last as he puts the finishing touches to make it “the best.”
When it comes to living life lavishly, Olamide doesn’t shy away from showing off his luxury; he owns two fancy mansions in Lagos, Nigeria as well as a selection of expensive cars.
6. Psquare – $16 million Networth
Peter and Paul Okoye, commonly known as the music group, Psquare, have a combined net worth of $16 million.
They shot to fame after forming their group in 2003 and released their debut album entitled Last Nite.
During this time, they commanded high fees for performances of up to 15 million naira per show.
Their successful career came to an abrupt end in 2016 due to an ongoing feud between the two brothers over their elder brother and manager Jude Okoye’s alleged part in it.
After a lengthy feud, they reunited last year in 2020 to release Jaiye(Ihe Geme) signaling the return of their relationship once more.
5. Tuface Idibia – $18 million Networth
Innocent Ujah Idibia, better known as 2Baba and 2Face, is one of the 5 wealthiest musicians in Nigeria with a current net worth of $18 million.
As a Benue State native, 2Face has since become an icon of the Nigerian Afropop scene. In the early 2000s, he made his mark in the industry with hits like ‘African Queen’, ‘Amaka’ and ‘Oyi’.
He has also received several awards such as MTV Music Awards, Headies and BET Awards.
4. Burna Boy – $20 million Networth
Damini Ebunoluwa Ogulu, better known as Burna Boy, is the 4th wealthiest musician in Nigeria with a net worth of $20 million.
Burna rose to fame in 2012 when he released his debut album L.I.F.E., and ever since then, he’s made waves in the music industry.
His 2022 album “Love Damini” was hugely successful, as well as his track ‘Last Last’, which was named on rapper Jay-Z’s list of favorite songs of 2022 and ended up being Spotify‘s most streamed song for that year.
He has also won numerous awards such as Best International Act at the 2019 BET Awards and African Artist of the Year at the 2020 Vodafone Ghana Music Awards.
In 2021 Burna Boy made history when he received the Best World Music Album at the 63rd Annual Grammy Awards becoming the first Nigerian solo artist to win this award.
Last April, Burna sold out Madison Square Garden making him the first Nigerian artist to do so—he earned N3 billion naira ($7 million) from ticket sales alone!
Additionally, reports say that Burna owns an 8-bedroom mansion at Lekki in Lagos, several luxury vehicles and other assets that contribute to his multi-millionaire status.
3. Don Jazzy – $20 million Networth
Don Jazzy has established himself as a leading figure in the Nigerian music industry. His wealth and fame, which continues to rise each year, is estimated to be over $20 million. This puts him as third on the Top Ten Richest Musicians In Nigeria.
The multi-talented producer has achieved success from his own record label, Mavin Records which he founded after the split of Mo-hits Records with Oladapo Daniel Oyebanjo (Dbanj).
A few of the exciting names under his label include Ayra Star, Rema, Crayon, Ladipoe, Magixx, Korede Bello, Johnny Drille and more who have created massive hits.
Furthermore, Don Jazzy has been awarded ‘Producer of the Year’ by Apple Music for his song titled ‘Over the Moon’.
Due to his financial success, he is known to have a strong taste for luxury cars and houses.
Don Jazzy has become an icon in the Nigerian music industry, having been crowned the fourth wealthiest African musician and number three in Nigeria currently.
2. Davido – $29 million Networth
David Adeleke, a Nigerian-American musician and producer commonly known as Davido, is number two on our list of the top 10 richest musician in Nigeria with an estimated net worth of $29 million.
He gained recognition as an Afrobeats superstar by FORBES in 2020 and has since released hit singles like ‘Fall,’ ‘Assurance,’ ‘If,’ and ‘Dami Duro’ which have each garnered millions of YouTube views.
The 30-year-old singer is also the son of one of Nigeria’s wealthiest men, Chief Adeleke.
With endorsements from major brands such as MTN, PUMA and Guinness Nigeria, Davido has become the best-selling music artist in Africa and even featured at the World Cup closing ceremony in Qatar 2022 alongside other music stars from around the world.
1. Wizkid – $30 million Networth
Number one among the top 10 richest musician in Nigeria is Wizkid. In 2022, the dude emerged as Nigeria’s richest musician with an estimated net worth of $30 million.
He broke records worldwide following the release of his debut album “Holla at Your Boy” and gained immense recognition for his album “Made in Lagos,” which featured Justin Bieber and Tems on the track “Essence.”
This song topped the United States Afrobeats chart according to Billboard.
On November 21, 2022, Wizkid and Tems were awarded at the American Music Awards and Wizkid was recognized as Favourite Afrobeat Artist.
His influence has also helped cast Nigeria into a global music epicentre.
In terms of possessions, Wizkid owns a luxury home in Surulere which is worth N13 million plus another home in Los Angeles.
This article was updated 3 months ago