Nigerian musicians have not only accumulated substantial money, but they have also influenced global perceptions of African music, notably the Afrobeats genre.
It’s vital to remember that the net worth statistics cited are dependent on a variety of factors, including their sponsorships, assets, and overall income garnered from their music careers.
The purpose of this article is to look at the lives and careers of Nigeria’s top five richest artists as of 2023.
1. Don Jazzy – Net Worth: $52 Million
Don Jazzy, the richest singer in Nigeria, with a stunning net worth of $52 million. For almost three decades, he has been a significant figure in the Nigerian music industry. Don Jazzy co-founded Mo-Hits Records with Dbanj, which contributed greatly to his income. After splitting from Dbanj, he founded Mavin Records, one of Nigeria’s major record labels.
Don Jazzy’s influence can be traced back to three distinct eras: the CD era, the download age, and the streaming era. Wande Coal’s “Mushin 2 Mo’ Hits” and D’banj’s “Oliver Twist,” both landmark albums in Nigerian music history, are among his production credits. His opulent lifestyle includes a fleet of high-end vehicles such as a 2016 Cadillac Escalade and a Bentley Continental Flying Spur.
2. PSquare – Net Worth: $37.26 Million
PSquare, Peter and Paul Okoye, come in second with a combined net worth of $37.26 million. The duo had a successful career, charging as much as 15 million NGN every performance. Despite the fact that they disbanded in 2016, their influence and money remain enormous. Paul Okoye owns a 1.5 billion NGN apartment in Lagos’ Banana Island, as well as an outstanding collection of luxury automobiles.
3. Davido – Net Worth: $27.6 Million
With a net worth of $27.6 million, Davido, the son of one of Nigeria’s wealthiest politicians, Chief Adeleke, is the third-richest musician in the country. He is signed to Sony Records and has a lengthy resume, including a performance at the World Cup closing ceremony in Qatar in 2022. Davido’s fortune has also been increased by sponsorship partnerships with companies such as MTN, PUMA, and Guinness Nigeria.
4. Wizkid – Net Worth: $26 Million
Wizkid is Nigeria’s fourth-richest musician, with a net worth of $26 million. He created history by becoming the first Nigerian to sell out London’s O2 Arena three nights in a row. His song “Essence” became the first Nigerian song to chart on both the Billboard Hot 100 and the Billboard Global 200. Wizkid owns two residences and several fancy vehicles, including a Lamborghini Urus and a Mercedes-Benz G63 AMG.
5. Burna Boy – Net Worth: $16 Million
With a net worth of $16 million, Burna Boy completes the top five richest musicians in Nigeria. He is the first Nigerian to gain consecutive Grammy nominations and, behind Rema, is the most streamed Nigerian artist. Burna Boy’s earnings are primarily derived from touring and ticket sales, and he has an eight-bedroom mansion in Lekki, Lagos.