The following is a list of the top 10 richest Nigerian artists and net worth in 2023, based on their music earnings, endorsements, assets, and properties.
The Nigerian music industry is a globally recognised and engaging entertainment sector that has experienced unprecedented growth in recent years. It is one of the fastest-growing industries in Nigeria, with renowned artists earning large sums of money from the genre. This industry is known to be one of the highest paying industries in the country.
- Davido – $90 million
- Wizkid – $80 million
- Don Jazzy – $58 million
- Burnaboy – $40 million
- Psquare – $37.6 million
- Timaya – $35 million
- D’banj – $30 million
- 2face – $27 million
- Flavour – $23 million
- Olamide – $21 million
1. Davido
David Adeleke, popularly known as Davido, the son of Chief Adeleke. He is the wealthiest Nigerian musician in 2023, with a net worth of $90 million. He has a significant contract with Sony Records, a considerable achievement being a prominent and well-known record company. Davido once held the title of African best-selling artist. He has won several awards, including BET and MTV Awards, and has gained sponsorship from MTN, PUMA and GUINNESS NIGERIA as a brand ambassador after achieving worldwide fame.
Davido displays his reputation as one of the wealthiest Nigerian musicians with two opulent houses, a 140-million NGN property on Banana Island, and a $20 million home in Atlanta.
A Toyota Land Cruiser, A Roll-Royce Cullinan 2019, a Range Rover SV, and a Bentley Bentayga are among Davido’s collections of automobiles.
2. Wizkid
Wizkid is the second wealthiest musician in Nigeria, his estimated net worth is approximately $80 million. He is the first Nigerian musician to sell out 02 Arena for three consecutive nights.
Wizkid owns two mansions, one of these is located in Sulere, Nigeria, and is valued at around 13 million NGN. The other is situated in Los Angeles, California. In addition to his mansions, Wizkid also possesses a noteworthy assortment of automobiles, among which is a Mercedes-Benz (with plate number 1), a Porsche Panamera, a BMW X6 crossover, and a Lamborghini.
Wizkid is a recipient of the prestigious Headies Award, and he is currently the most streamed artist on Apple Music.
3. Don Jazzy
Don Jazzy is the third-richest musician in Nigeria, with an estimated $58 million. He is the co-founder of the “mo-hit” music label alongside D’banj.
Don Jazzy and D’banj eventually split ways in 2021, leading to the establishment of Marvin Record, Nigeria’s leading record owned by Don Jazzy.
Reekado Banks, Dr Sid, Wande Coal, Tiwa Savage, and Iyana have made a name for themselves through Marvin Record in the same way Rema, Korele Bello, Magixx, Ladipoe, Buju , DNA Princeton, Crayon, Ayra Starr, Boy spyrn ,Bayani , Di’Ja and John drille have all garnered a sizeable following and amount of recognition.
Don jazzy produced the entirety of Wade Coal’s Mushin 2 mo hits, one of the best-selling debut albums ever. He also produced and co-wrote D’banj Oliver Twist, the first successful Cross-border hit in Nigeria.
Don jazzy’s car collection consists of a Range Rover Sport, a Cadillac Escalade, a Bentley Continental Flying Spur and a Porsche Carrera.
4. BURNA BOY
Burnaboy is the fourth richest Nigerian artist, estimated at $40 million. He is the first in Nigeria to win a Grammy Award after being nominated six times.
Apart from his outstanding musical career, Burnaboy also enjoys a lavish lifestyle. His luxurious house, located in the prestigious area of Lekki in Lagos, boasts not just one or two but eight spacious bedrooms.
This stunning property is a testament to his success and serves as a symbol of his hard work and accomplishments. When it comes to automobiles, Burnaboy has exquisite taste. His impressive car collection includes a 2022 Lamborghini Urus, a Range Rover Autobiography, a 2013 Ferrari 458 Italia and a Roll-Royce Dawn convertible.
5. PSQUARE
Peter Okoye and Paul Okoye, known as “Mr P” and “Rude Boy”, are the psquare. They have a combined net worth of $37.6 million. They are the fifth richest musician in Nigeria.
As one of Nigeria’s wealthiest artists, Mr Paul okoye of psquare has a condominium in Banana Island, Lagos. He also has expensive automobiles, including a G wagon, a Porsche 718 Cayman, and a Dodge Chandler.
Also, “Rude Boy” owns an illustrious home in Parkview Estate, ikoyi, Lagos. He also has a collection of cars, including a Lamborghini Aventador and a Bentley Bentayga.
6. Timaya
Timaya is Nigeria’s sixth richest musician, with an estimated fortune of $35 million. He was a former “Dem Mama Soldier” music label member. He is the CEO of DM RECORD.
Aside from his remarkable achievements in the music industry, Timaya is also known for his luxurious lifestyle. He resides in a stunning house worth 250 million NGN located in the prestigious area of Lekki, Lagos.
Furthermore, his exquisite car collection includes a luxurious Bentley Continental GT, a stylish Mercedes Benz GLE, a sophisticated Lexus LX570 2015, and several other impressive vehicles.
Timaya’s success not only highlights his musical talent but also serves as an inspiration for aspiring artists in Nigeria and beyond.
7. D’banj
Oladapo Daniel, popularly known as D’banj aka Kokomaster, is the seventh richest Nigerian artist, with an estimated fortune of $30 million. He is the co-founder of the Mohit music label. He is the first Nigerian artist to release a cross-border tune with his single “Oliver Twist”.
D’banj is the ambassador of SLOT and Nigeria’s first United Nations youth ambassador for peace.
D’banj has a house at Banana Island; his collection of automobiles includes a Toyota land cruiser Prado, A Bentley, a 2015 Porsche Carrera, and an Aston Martin vantage.
8. 2Face Idibia
2face Idibia, known as 2baba, is the seventh richest Nigerian artist with an estimated $27 million. He donated a music studio to the music faculty of Obafemi Awolowo University (OAU) Osun State. He has won the MTV, Headies, and BET awards as a musician.
Apart from his professional accomplishments, 2face Idibia enjoys the fruits of his success with his luxurious properties.
He owns not only a lavish house in the United States but also a remarkable residence in Ikeja, fedac, Lagos island. His opulent lifestyle is further evident in his impressive automobile collection, which includes notable vehicles such as the Toyota Land Cruiser, a sleek Ferrari coupe, a stylish Chevrolet Corvette coupe, and many more.
9. Flavour
Chinedu Okoli, aka “Flavour” is the ninth richest Nigerian artist, with an estimated fortune of $23 million. He is a renowned Igbo artist, and in addition to his incredible musical career, Flavour has also established himself as a prominent brand ambassador for several renowned Nigerian companies.
He proudly represents Nigerian breweries Life Beer, Bullet Energy Drink, and MTN Telecommunication, showcasing his versatility and ability to connect with a wide range of audiences.
Among his overall possessions are a sleek Range Rover and a luxurious Mercedes Benz G3, just to name a few
10. Olamide
Olamide is a well-known Yoruba rap artist, the tenth richest Nigerian artist, with an estimated $21 million.
In addition to his financial success and contributions to the music industry, Olamide has also received several accolades. Among these honors is the prestigious title of Best Indigenous Rap Artist, which highlights his mastery of delivering rap in his native Yoruba language.
When it comes to his taste in automobiles, Olamide has a penchant for luxury and style. His impressive collection includes coveted vehicles like the Range Rover Sport, Mercedes Benz G-Wagon, Rolls-Royce Phantom, and many more.
