Are you looking for the Top 10 Richest Musicians in Nigeria? Then you are in the right page.
The Nigeria music industry, is one of the biggest in the entertainment industry that have produced many great musicians over time. Not just in Nigeria, these musicians are counted among the best in all of Africa and the world at large. There are many musicians with immense talents huge popularity and has made so much millions in their career.
In this article, we will only list the top 10 richest musicians in Nigeria 2024 with their net worths and biography. We also wrote articles on The Top 10 richest governor in Nigeria and The Top 10 richest men in Nigeria. Feel free to read about them to.
Who is The Richest Musician in Nigeria?
Damini Ebunoluwa Ogulu popularly known as Burna Boy, is the richest musician in Nigeria with an estimated net worth of $80 million. The African Giant himself is a Nigeria singer, songwriter and rapper. Known for his unique blend of Afrobeat, reggae and dance hall music.
Burna Boy is a Grammy Award winner and the first Nigerian to be nominated for Grammys in consecutive years. He is the second most streamed artist after Rema.
Burna Boy is the most successful musician in Nigeria, his luxurious mansion located in Lagos, Nigeria is Worth over #5 billion. He also has luxurious fleet of cars including a Bugatti Chiron and Lamborghini SVJ. All this contributed to his astonishing net worth of $80 million.
Top 10 Richest Musicians in Nigeria 2024
Based on money made from music, endorsements and overall net worths, below are some of the top 10 richest musicians in Nigeria.
- Burna Boy (Net Worth: $80 million)
- Wizkid (Net Worth: $65 million)
- Davido (Net Worth: $60 million)
- Don Jazzy (Net Worth: $40 miliion)
- Olamide (Net Worth: $35 million)
- P-Square (Net Worth: $31 million)
- Mr Eazi (Net Worth: $30 million)
- Timaya (Net Worth: $27 million)
- Flavor (Net Worth: $25 million)
- Phyno (Net Worth: $20 million)
Top 10 Richest Musicians in Nigeria 2024, Their Net worth and Biography
Burna Boy (Net Worth: $80 million)
Damini Ebunoluwa Ogulu, popularly know for this stage name Burna Boy, is the richest musician in Nigeria with a net worth of around $80 million. Other than this, he is a Grammys winner and the second most streamed artist in Nigeria.
Burna Boy is a Nigerian singer, songwriter and record producer. He is the founder and CEO of spaceship record, a Nigeria-based record label. Burna is also signed to an American Record Label called the Atlantic Records.
Background Information
- Full Name: Damini Ebunoluwa Ogulu
- Stage Name: Burna Boy
- Date of Birth: 2 July, 1991
- State of Origin: Rivers State
- Genres: Afrobeat, Reggae, Dancehall and Pop.
- Record Label: Atlantic Records
- Awards: The Headies Award, BET Award, Grammys Award.
- Years Active: 2010-Present
Wizkid (Net Worth: $65 million)
Ayodeji Ibrahim Balogun, known by his professional name as Wizkid is the second richest musician in Nigeria with an estimated net worth of $65 million. He is a well-known Nigeria singer, songwriter and record producer.
The 33 years old artist started his music journey in 2009 with EME Records and he became famous with his hit song “Holla at your boy” and his collaboration with international superstars.
Wizkid has accumulated so much wealth through record sales, endorsement deals and sold out concerts.
Background Information
- Full Name: Ayodeji Ibrahim Balogun
- Stage Name: Wizkid
- Date of Birth: 16 July, 1990
- State of Origin: Surulere, Lagos State.
- Genres: Afrobeat, R&B and Afropop.
- Record Label: Star Boys
- Awards: The Headies Award, BET Award, Grammys Award, MTV Africa Music Award, Billboard Music Award, NACCP image award, MTV Europe award.
- Years Active: 2001-Present
Davido (Net Worth: $60 million)
David Adeleke Adedeji, popularly know by his stage name Davido, is the third richest Nigerian musician on our list of top 10 richest musicians in Nigeria with an estimated net worth of over $60 million. He is a Nigerian songwriter, singer and record producer. He is also regarded as the most followed Nigerian artist on Instagram, one of the most improved Afrobeats artists of the 21st century, wizkid and burna are credited alongside him for popularizing the genre globally.
Davido is the founder and CEO of DMW and HKN Records, a Nigeria based record label. He is also signed to an American Record Label called the Sony Music Entertainment and RCA records.
Since his debut 2009, davido has built a remarkable career and accumulate so much wealth and multi million endorsement deals from sponsorships like 1XBET, MTN, PUMA, Martel and Guinness Nigeria.
Background Information
- Full Name: David Adeleke Adedeji
- Stage Name: Davido
- Date of Birth: 21 November, 1992
- State of Origin: Osun State.
- Genres: Afrobeat, Afropop and Pop.
- Record Label: DMW, HKN, Sony Music, RCA.
- Awards: MOBO Award, Headies Award, BET Award, Grammys Award nominee, MTV Africa Music Award, Billboard Music Award, MTV Europe award, Kora Award, NMVA nomination, Nigeria Entertainment Award.
- Years Active: 2009-Present
Don Jazzy (Net Worth: $40 miliion)
Michael Collins Ajereh, born 26 November 1982 popularly known as Don Jazzy, the music maestro and CEO of Mavins record, also known as the biggest music producer in Africa, holds the position of the fourth wealthiest musician in Nigeria.
Don Jazzy, has played a vital role in shaping Nigeria’s music industry. Apart from producing hits for top artists, Don Jazzy has made so much wealth through endorsement deals and investments in various sectors. He has an estimated net worth of $40 million, luxurious mansions and fleet of cars.
Background Information
- Full Name: Michael Collins Ajereh
- Stage Name: Don Jazzy
- Date of Birth: 26 November, 1982
- State of Origin: Abia State
- Genres: Afrobeat, Afropop.
- Record Label: Mo’Hits, Mavins, Very Good Beats.
- Awards: Headies Award, BET Award, Nigeria Music Award, Nigeria Entertainment Award, City People Entertainment Award, Beatz Award.
- Years Active: 2002-Present
Olamide (Net Worth: $35 million)
Olamide Gbenga Adedeji, popularly known as Olamide is a legend and the CEO of YBNL (Yahoo Boy no Laptop) records, his influence in music industry is unmatched.
The Nigeria rapper and songwriter has nurtured talents like Adekunle Gold, Asake and Fireboy DML with an impressive collection of 10 albums and over 40 singles to his credit.
Since his debut in 2011, Olamide has built a remarkable career, securing more than five prestigious awards such as the Headies Award, All Africa Music Award, Sound City MVP Award Festival, Nigeria Entertainment Award, MOBO Award and many others.
With a net worth of $35 million, Luxurious mansions, fleet of cars and many endorsement deals. Olamide remains a legend and iconic figure in the music industry.
Background Information
- Full Name: Olamide Gbenga Adedeji
- Stage Name: Olamide
- Date of Birth: 26 March, 1989
- State of Origin: Bariga,, Lagos State
- Genres: Afrobeat, Hip Hop, Rap
- Record Label: YBNL Label
- Awards: Headies Award, Nigeria Music Award, Nigeria Entertainment Award, City People Entertainment Award, MOBO Award, Sound City MVP Award Festival etc.
- Years Active: 2011-Present
P-Square (Net Worth: $31 million)
Peter Okoye and Paul Okoye are Nigerian most influential musicial duo, they are popularly known for their stage name P-Square. P-Square faced separation in early 2017, but their investment keeps them on the list of wealthiest musicians in Nigeria.
They co writer, co dancer and co record producers have had a successful career and earned so many awards, to the extent of competing with Don Jazzy as best producers.
They’ve have won numerous co awards and individual awards including 9 headies, 7 Nigeria Music Awards (NMA), 6 Ghana Music Awards, 5 Kora Awards, and 5 Sound City MVA Awards.
Their Net worth of $31 million reflects in their success by owning a luxurious mansion in Atlanta, USA, worth over $4 million, twin residential mansion in Banana, Island Lagos worth over $6 million and fleet of cars.
Background Information
- Full Name: Peter and Paul Okoye
- Stage Name: P-Square
- Date of Birth: 18 November, 1982
- State of Origin: Ifite Dunu, Anambra State
- Genres: Afropop, R&B, Dance Pop, Hip hop
- Record Label: Square Records, Konvict Muzik, Universal Music SA, Suare root entertainment.
- Awards: The Headies Award, BET Award, Grammys Award.
- Years Active: 2017-Present
Mr Eazi (Net Worth: $30 million)
Oluwatosin Oluwole Ajibade, stage name Mr Eazi, is a Nigerian singer, songwriter and record executive. He is also the originator of “Banku Music” (a combination of Ghanaian highlights with Nigerian chord progressions and patterns.
In 2008, Mr Eazi moved to Kumasi in Ghana to further his education, where he studied Mechanical Engineering at Kwame Nkrumah University of Science and Technology (KNUST). During his time of study, he began booking artist to perform at college parties.
Additionally, Mr Eazi showed interest in music after recording his guest verse on “My Life”, a song that gained popularity at KNUST.
Since his debut in 2013, Mr Eazi gained an international recognition following the release of his debut mixtape “About to Blow”. Today he is one of the wealthiest musicians in Nigeria, with real estate investment scattered all over Rwanda, Tanzania and Ghana. His marriage to the daughter of Nigeria’s wealthy businessman and Philanthropist Femi Otedola contributed to his vast wealth.
Background Information
- Full Name: Oluwatosin Oluwole Ajibade
- Stage Name: Mr Eazi
- Date of Birth: 19 July, 1991
- State of Origin: Rivers State
- Genres: Afrobeats and Banku Music
- Record Label: Banku Music, emPawa Africa
- Awards: The Headies Award, MOBo Award, Nigeria Entertainment Award, Sound City MVP Award, WhatsUp TV Africa Music Award.
- Years Active: 2012-Present
Timaya (Net Worth: $27 million)
Timaya, whose full name is Inetimi Alfred Timaya Odon (15 August, 1980) is a Nigerian singer, songwriter and founder of DM (Dem Mama) records, a Nigeria-based record label which he is only signed to.
As the president of DM label, Timaya brought talented artists like Patoranking, Runtown and King Perry to limelight.
Finally, he is not just a musicial maestro but also a successful businessman following his investment in oil and gas, real estate, and owner of luxurious 8 bedroom duplex in Lagos.
Background Information
- Full Name: Inetimi Alfred Timaya Odon
- Stage Name: Timaya
- Date of Birth: 15 August, 1980
- State of Origin: Odi, Bayelsa State
- Genres: Dancehal, Regga, Hip hop, Afrobeats, Soca.
- Record Label: DM Records
- Awards: The Headies Award, Nigeria Entertainment Award, AFRIMMA, Grammys Award.
- Years Active: 2005-Present
Flavor (Net Worth: $25 million)
Chinedu Izuchukwu Okoli also known as Flavor N’abania or simply Flavor is a church drummer since 13. He began his music career as a drummer in 1999 and studied music after a music company gave him scholarship. Flavor gained world recognition after the release of his hit song “Nwa Baby (Ashawo Remix).
Flavor is currently signed to 2nite Entertainment, he is also regarded as the king of Highlife in Nigeria. He is super rich and has been consistent in the industry for over 18 years.
Flavor has accumulated so much wealth through music, endorsement deals, and sold out shows both in Nigeria and abroad. He owns right to all his music rights and has secured his place as one of the richest musician in our list.
Background Information
- Full Name: Chinedu Izuchukwu Okoli
- Stage Name: Flavor N’abania, Ijele, Palliative Ųmų Ashawo.
- Date of Birth: 23 November, 1983
- State of Origin: Anambra State
- Genres: Igbo Highlife and Gospel
- Record Label: 2nite Entertainment
- Awards: The Headies Award, Nigeria Entertainment Award, Ghana Music Award, Channel O Music Video Award, Hip-hop World Award (Headies), City People Entertainment Award.
- Years Active: 2005-Present
Phyno (Net Worth: $20 million)
The tenth wealthiest musician in Nigeria on our list is Chibuzo Nelson Azubuike professionally known as Phyno Fino. He is a Nigerian rapper, singer, songwriter and recording producer. This incredible rich rapper was born and raised in Enugu State but is a native of Anambra State.
Phyno started his music career in 2003 and is known for rapping in Igbo language. Since his debut album “No Guts No Glory” in 2014, Phyno has built a remarkable career securing many ambassadorial deals for tip brands like Monster Energy Drink, Glo, AEL NG, and Naira BET.
He currently purchased 20 units of detached Terrace building worth approximately 1.4 billion naira. Phyno is the founder and CEO of Penthauze label, a Nigeria-based record label and has also proven he’s force to be reckoned with.
Background Information
- Full Name: Chibuzo Nelson Azubuike
- Stage Name: Phyno Fino, Obago.
- Date of Birth: 9 October, 1986
- State of Origin: Anambra State
- Genres: Igbo Rap, Hip-hop
- Record Label: Penthauze, Sputnet.
- Awards: The Headies Award, Nigeria Entertainment Award, City People Entertainment Award.
- Years Active: 2003-Present
Conclusion
Nigerian musicians have not only made a name for themselves locally but have also gained international fame and recognition. With their unique sounds and infectious beats, they continue to captivate audiences worldwide and are truly deserving of their status as some of the richest musicians in Africa.
Frequently Asked Questions (FAQs)
How accurate are these net worth figures?
The Net worth figures are based on different sources such as industry estimates, media reports and financial analysis. Atimes the figures may not be exact.
Do these musicians earn only from music sales?
No, thus musicians don’t only earn from music sales. These musicians earns money from different sources including music sales, endorsement deals, concerts, royalties, and investments in others businesses.
Do Nigerian musicians have international recognition?
Yes, many Nigerian musicians such as Davido, Burna Boy, Wizkid, Rema and many more have gained international recognition and have collaborated with artist from around the world.
