The Nigerian music industry has grown into a global business venture with a turn over of multi-billion naira return on investments since the last two decades. Here’s a look at top richest musicians who artistically express themselves via songs churned out en masse to the delights of millions across the globe, headlining shows and performing at others with major sold-out feature. While some of the artistes on this list make the ‘we love to hate them clique, there is no denying that we love their sound and our unfailing love for it, like Yemi Alade, said a couple of days back, makes them smile to the bank.
ESTIMATED NET WORTH: N5 billion
Despite the recent infighting that rocked the brand which has the duo brothers Peter and Paul Okoye, famously known as Psquare have stayed relevant in the music industry, snagging deals and headlining major shows and concert along the way. The brothers, who are ambassadors to several brands to include telecommunication company, Glo which came with a Mercedes Benz G Wagon and Range Rover vogue , which costs not less than N25m, Olympic Milk alongside a paycheck of N250million. Skol beers and Kia Motors, are the richest musician in Nigeria. They reportedly charge a whooping $50,000 for shows. They own four houses; an omole estate house, an Ikoyi home, a banana island home and apartments in Buckhead in L.A. Paul, on his part owns a record label [Rudeboy Records] and a real estate business, while Peter, owns a budding football agency. Add all these with their over a million record sales, and other exotic cars worth over N200 million has Psquare’s estimated net worth at N5 billion.
ESTIMATED NET WORTH: N4 billion.
He recently signed a multi million dollars record deal with Song Music, save for the thousand of foreign currencies he flaunts on social media, American born Nigerian singer, Davido a.k.a Son Of Mercy, stated clearly that asides his numerous assets, he has $2million in his bank account, which we think might be his trust fund[just saying]. He is a brand ambassador for Closeup, Pepsi, formerly an ambassador for telecommunications company MTN, Guinness Nigeria, and recently snagged a Sony endorsement deal reportedly worth $1million. He owns a Lekki mansion worth about N120 million and is at the verge of acquiring a new one, also believed to be worth several millions of Naira. He also owns fleet of cars to include a Rolls Royce Phantom worth N100 million, a 2015 Range Rover Sport worth N35 million, a 2015 Audi worth N20 million, A Toyota Land Cruiser worth N28 million, Mercedes Benz G-class AMG Series worth over N40 million, Mercedes Benz Sedan AMG series worth over N50 million and a Porsche Carrera worth about N35-45million. He also owns two music labels, HKN, co-owned with elder brother and DMW, solely owned by him. Coupled with shows/concerts he performs at, record sales and royalties, Davido’s estimated net worth is N4 billion.
ESTIMATED NET WORTH: N3.5 billion
Currently riding on international stride and stars, Wizkid, comes in as number three on our list. From owning a Surulere house worth about N15 million to his Lekki home which is estimated at N65 million. Wizkid, asides his rumored soon to be made public deal with Sony, owns his own record labels, Starboy Records and Starboy Worldwide, which houses 5 musicians in total. He was a brand ambassador for MTN where he reportedly was paid N45 million before sliding into the tent of rival telecommunications company Glo, where he is reportedly been paid N120 million. He also has a renewed two years Pepsi dealworth N140 million, and over a million sales in record. Starboy, is an avid lover of automobiles and has quite a few luxury cars in his garage, they include; a Hyundai Sonata which costs about N6 Million, a BMW X6 worth N11 Million, a Mercedes 2012 Compressor which costs N9 Million, a Bentley reportedly worth N45 Million, a new Porsche Panamera worth N15 million, he got barely a month after crashing the old one and a Can-am supercharged bike estimated at N3.5 billion.
ESTIMATED NET WORTH : N2.5 billion.
From sold out concerts to sold out albums Owo blow & Orobo crooner, Olamide aka Baddo Sneh, is the fourth artiste on our list. Olamide, who first signed a mega deal with telecommunications company Etisalat in 2013, renewed the multi million naira deal in 2015. He is also snagged a deal with Ciroc which is reported worth close to N45 Million. In 2013, he also became the brand ambassador for Guinness with the deal also reportedly worth several millions of Naira. In 2014, he became the brand ambassador for SureBet 24/7, an online sport betting company for a whooping N20 million naira. He is the CEO of YBNL, a music label which currently houses singersAdekunle Gold and Temmi Ovwasa. Olamide, also makes money from shows and concerts with some being sold out. He charges between N3-5million per show bookings. He is also the owner of two petrol filling stations and three houses; one on the island and the other two on the mainland. His luxurious home on the Island is reportedly worth N38 Million. The other two houses situated in Bariga are said to be worth over N20 Million each. He splashed a whooping N6 Million on a Toyota Venza automobile for his producer and owns a Mercedes G-Class worth N22 million, Range Rover sport worth about N15 Million and formerly owned a 2012 Model.
ESTIMATED NET WORTH: N1 billion
Timi Dakolo, is the fifth atiste on our list. Since hitting the limelight by emerging winner at the inaugural season of West African Idol in2007, Timi Dakolo, has not only remained in the consciousness of the people but also his accountant. The ‘Wish Me Well’ cooner, is known for his love for luxury cars as his garage has 2 cars running into millions. He owns a Chevrolet camaro which is worth about N8 million and a range rover sport worth N23 million. In 2014, Timi, made headlines with his valentine gift to wife, Busola, a completed building, where the family currently lives. On money made fro music, this vocal powerhouse, makes a lot of money performing at private and corporate events where he confirmed he gets paid handsomely. Timi, is one of the few artistes in the country, who performed at a paid event almost every weekend in the year, with that, we can all imagine how fat his bank accounts are. His estimated net worth is about N1 billion.