The Top 10 Richest Artists in Nigeria 2024: Forbes Edition
Nigeria’s music industry has exploded onto the global stage, producing artists who dominate charts and earn massive incomes through their music, endorsements, and entrepreneurial ventures. According to Forbes, the top 10 richest Nigerian artists in 2024 are a testament to the country’s vibrant music scene and the lucrative potential it holds. In this article, we will explore these influential artists, their net worth, and how they’ve amassed their fortunes.
1. Wizkid – $50 Million
Wizkid, born Ayodeji Balogun, continues to reign supreme as Nigeria’s richest artist in 2024. With an estimated net worth of $50 million, Wizkid’s success story is nothing short of remarkable. The Afrobeat superstar has sold millions of records worldwide, headlined international tours, and secured lucrative endorsement deals with brands like Nike and Pepsi. His record label, Starboy Entertainment, has also contributed significantly to his wealth.
2. Davido – $45 Million
David Adeleke, popularly known as Davido, is a close second with a net worth of $45 million. The “FEM” hitmaker’s impressive fortune is attributed to his music sales, sold-out concerts, and brand endorsements. Davido’s record label, DMW (Davido Music Worldwide), is home to several successful artists, further boosting his income. His global appeal and strategic investments in real estate and technology startups have solidified his financial standing.
3. Burna Boy – $40 Million
Damini Ogulu, known by his stage name Burna Boy, is another Nigerian artist who has achieved global acclaim. With a net worth of $40 million, Burna Boy has earned a significant portion of his wealth from international tours, album sales, and streaming royalties. The Grammy-winning artist’s unique Afro-fusion sound has resonated with audiences worldwide, leading to numerous endorsement deals and profitable partnerships.
4. Don Jazzy – $35 Million
Michael Collins Ajereh, better known as Don Jazzy, is a prolific music producer and the founder of Mavin Records. With a net worth of $35 million, Don Jazzy’s influence extends beyond music production to successful business ventures in technology and real estate. His label has nurtured some of Nigeria’s biggest talents, including Rema and Ayra Starr, contributing significantly to his wealth.
5. Olamide – $30 Million
Olamide Adedeji, or simply Olamide, is a dominant figure in the Nigerian music industry, particularly in the hip-hop genre. With a net worth of $30 million, Olamide’s success comes from his extensive music catalog, endorsement deals, and his record label, YBNL Nation. His ability to consistently produce hits and support emerging artists has cemented his place among Nigeria’s wealthiest musicians.
6. Tiwa Savage – $25 Million
Tiwa Savage, often referred to as the Queen of Afrobeat, has a net worth of $25 million, making her the richest female artist in Nigeria. Her success spans across music sales, international tours, and endorsements with brands like Pepsi and MTN. Tiwa Savage’s versatility and global appeal have made her a sought-after artist, contributing to her impressive fortune.
7. Phyno – $20 Million
Chibuzor Nelson Azubuike, known professionally as Phyno, is a prominent rapper and songwriter with a net worth of $20 million. Phyno’s unique blend of Igbo language in his rap music has garnered a massive fanbase and lucrative deals. His success is also linked to endorsement deals with major brands and his record label, Penthauze Music.
8. P-Square – $18 Million Each
The dynamic duo, Peter and Paul Okoye, known collectively as P-Square, have made a significant impact on the Nigerian music scene. Each brother boasts a net worth of $18 million. After a brief hiatus, the duo reunited and returned to the music scene with a bang, releasing hit singles and embarking on successful tours. Their combined efforts in music, real estate, and business ventures have contributed to their substantial wealth.
9. D’banj – $16 Million
Oladapo Daniel Oyebanjo, better known as D’banj, is a veteran artist with a net worth of $16 million. D’banj’s career has spanned over a decade, earning him international recognition and numerous accolades. His wealth comes from music sales, endorsements, and successful business ventures, including his Koko Holdings company.
10. 2Baba – $15 Million
Innocent Ujah Idibia, popularly known as 2Baba or 2Face, is a legendary artist with a net worth of $15 million. 2Baba’s career spans over two decades, making him one of Nigeria’s most enduring and successful musicians. His income is derived from music royalties, endorsement deals, and real estate investments. 2Baba’s influence and legacy in the Nigerian music industry are undeniable.
The Nigerian music industry has grown exponentially, with artists not only achieving local success but also making waves on the international stage. The top 10 richest artists in Nigeria, according to Forbes in 2024, are testament to the immense talent and business acumen present in the country’s entertainment sector. From Wizkid’s global dominance to Tiwa Savage’s groundbreaking achievements, these artists have set a high bar for future generations. Their wealth is not just a reflection of their musical prowess but also their ability to capitalize on opportunities beyond the studio, making them true icons in the world of entertainment.
These artists continue to inspire millions of aspiring musicians and entrepreneurs across Africa and the world, showing that with talent, hard work, and strategic business moves, the sky is the limit. As the Nigerian music industry evolves, it will be exciting to see who rises to the top next.
