The conversation of who the richest players in the music industry are is one that often springs up among music lovers.
Fans understand that the music industry is quite lucrative but still cannot fathom how the money is really made.
Most would argue that musicians are into other dirty businesses and believe that they make their monies via these means.
These searches come up day in; day out on the internet, and to ease your stress, we decided to put this list together, to give you an insight into the lives of some of Nigeria’s richest musicians.
1. Wizkid $30 Million
Wizkid comes 2nd on this list of the richest Nigerian artist of the year 2022. Born on the 16th of July, 1990, he is a Nigerian singer and songwriter. he began recording at the tender age of 11, and released a collaborative album with his group then, tagged the Glorious five.
He shot to prominence in the year 2011 after the release of his debut album, Superstar – a 17-track body of work. This was while he was under EME, a record label owned by Nigerian singer, Banky W. Wizkid is a multi-award-winning act, that is not only recognized in Nigeria but globally.
He is also the founder of Starboy Music. Wizkid owns a luxurious mansion in Surlere worth about #13 million. He also owns a house in Los Angeles, United States.His garage of cars has been estimated to be worth over #200 million.
2. Davido $29 million
Davido, the label boss of Davido Music Worldwide The 30-year-old has several mansions and cars to his name, as well as, a series of investments owing to his wealthy background. And that’s not all, he is also a director in his dad’s company. he recently moved into his banana island mansion.
The Afrobeat singer has 4 children with 4 different baby mamas. Sadly, he recently lost one of them, Ifeanyi, and went on to marry his mum, Chioma.
What constantly shocks his fans is how he makes out time for each of them. he has often been awarded the best dad by his numerous fans.
Davido’s could be tagged the nightlife king as he is often seen in luxurious clubs with the love of his life, Chioma. His entire garage of cars has been estimated to b worth about #700 million.
3. Don Jazzy $20 million
When it comes to record production, Don Jazzy, whose real name is Michael Collins Ajere is the richest. He is the founder of Mavin Records and equally founded Mo’Hits, which use to comprise D’banj, Wande Coal, D’Prince, and a few others.
Don Jazzy is the sole producer of all the songs of his label artists, the likes of Ayra Starr, Magixx, Rema, DNA, Ladipoe, Korede Bello, and a host of others.
He is said to have about 3 mansions, in Lekki, Banana Island, and Los Angeles, USA. That is aside from his garage of luxurious rides, which has been estimated to be worth about #300 million.
4. Burna Boy $20 million
Oluwadamini Ogulu, widely known as Burna Boy is a Portharcourt-born singer and songwriter. He is currently the only Nigerian artiste, whose mother doubles as his manager, and she sure does an amazing job.
He was born on the 2nd of July, 1991, and he is the only son of his parents and also the eldest among 3 other female siblings.
His maternal grandfather used to work as the manager of the great music legend, Fela Anikulapo Kuti. This means that his mother has been grounded in Afrobeats for donkey years.
His garage of cars is said to be worth over #600 million.
5. 2Baba $18 Million
2Baba is one legendary musician who has been around for over 2 decades. Innocent Idibia is a Nigerian singer, songwriter, record producer, and entrepreneur, whose stage name is 2Baba was a member of the now-defunct Plantashun Boiz.
A fun fact about 2Baba would be that he was once the richest musician in Africa and Nigeria before the likes of Davido and Wizkid took over.2baba has an entire garage of cars worth about #200 million.
6. P-Square $16 Million
The Nigerian music industry will not be without the likes of P-Square. The duo is arguably one of the richest in the country.
They were both born in November 1981, and market their 40th birthday last month. Their debut album, Last Night was released in the year 2002, and from it, they made their big break. Sadly, the duo split in 2016 and became solo artists. However, they came back in the year 2021 and became an even bigger force.
Mr. P has cars worth over #300 million, while Rudeboy’s cars have been said to be worth almost #500 million.
7. Olamide $15 Million
Olamide Baddo, the street King cannot be left out of the list of the richest musicians in Nigeria. He is a Nigerian rapper and singer whose impact on the music industry cannot be overemphasized. he is one of the biggest forces to reckon with when it comes to the music business.
Olamide rose to prominence after his sit single, Eni Duro, a rap track that gained lots of attention and we can say it is a track that set him on the path of success. Olamide is a versatile artist who raps in both English and Yoruba. He released his debut album, Rapsodi in 2011.
The label boss’ cars are said to be worth about #340 Million.
8. Phyno $12 Million
Phynofino, the fine boy of the music industry goes by the name Azubuike Nelson Chibuzor. He became popular for his rap style in both English and indigenous languages fluently.
His style of rap adds a unique vibe to his music and makes them addictive. Asides from music Phyno have also invested in real estate and fashion. His cars are worth almost #300 million.
9. TImaya $11.4 Million
Inetimi Alfred Odon, widely known as Timaya is a Nigerian artist, popular for his song, Plantain seller. He was born on the 15th of August, 1980. He is the founder of ‘Dem Mama records limited.
He started his music career in the year 2015 with his single, Dem mama, which also featured on his debut album, True Story.
Apart from music, Timaya also has several investments. The 41-year-old has a mansion in Lekki worth #250 million. His cars, on the other hand, are worth almost #300 million.
10. Asa $10.5 Million
Bukola Elemide, widely known as Asa is a Nigerian/French musician. Her debut single, Eye Adaba rose Asa to prominence.
Asa has won several awards including being nominated for “Best R&B/Pop Album”, “Best Alternative Sound”, and “Best Vocal Recording Of The Year”.Asa has a quite discrete personality and does not subscribe to social media life.