The topic of the wealthiest players in the music industry comes up frequently among music fans.
Fans understand that the music industry is lucrative, but they still don’t understand how the money is made.
Most people believe musicians are involved in other dirty businesses and make money through these means.
These searches appear on the internet daily, so we decided to compile this list to give you an insight into the lives of some of Nigeria’s richest musicians.
1. Wizkid – $30 Million
Wizkid is ranked second on this list of the richest Nigerian artists in 2022. He is a Nigerian singer and songwriter born on July 16, 1990. At 11, he began recording and released a collaborative album with his group, dubbed the Glorious Five.
He rose to prominence in 2011 with the release of his debut album, Superstar, a 17-track collection. This was while he was signed to EME, a record label owned by Nigerian singer Banky W. Wizkid is a multi-award-winning act well-known not only in Nigeria but worldwide.
He founded Starboy Music as well. Wizkid owns a lavish mansion in Surlere worth approximately $13 million. He also has a home in Los Angeles, California. His car collection is estimated to be worth more than #200 million.
2. Davido – $29 million
Davido is the CEO of Davido Music Worldwide. Because of his wealthy background, the 30-year-old owns several mansions and cars and a number of investments. Not only that, but he is also a director in his father’s company. He recently moved into his mansion on Banana Island.
The Afrobeat singer has four children from four different women. He recently lost one of them, Ifeanyi, and married his mother, Chioma.
How he makes time for each of them continues to astound his fans. His many fans have frequently voted him the best father.
Davido has been dubbed the “Nightlife King” because he is frequently seen in opulent clubs with his love, Chioma. His entire car collection is estimated to be worth around #700 million.
3. Don Jazzy – $20 million
Don Jazzy, whose real name is Michael Collins Ajere, is the richest record producer. He founded Mavin Records and Mo’Hits, which previously included D’banj, Wande Coal, D’Prince, and a few others.
Don Jazzy is the sole producer of all his label artists’ songs, including Ayra Starr, Magixx, Rema, DNA, Ladipoe, Korede Bello, and a slew of others.
He owns three mansions in Lekki, Banana Island, and Los Angeles, California. That is in addition to his garage of high-end vehicles, which is estimated to be worth around #300 million.
4. Burna Boy – $20 million
Oluwadamini Ogulu, better known as Burna Boy, is a singer and songwriter from Port Harcourt. He is currently the only Nigerian artist whose mother also serves as his manager, and she does an excellent job.
He was born on July 2, 1991, and is the only son of his parents and the eldest of three female siblings.
His maternal grandfather was the manager of Fela Anikulapo Kuti, the great music legend. This means that his mother has been immersed in Afrobeats for a long time.
His car collection is said to be worth more than #600 million.
5. 2Baba – $18 Million
2Baba is a legendary musician who has been active for over two decades. Innocent Idibia, better known by his stage name 2Baba, is a Nigerian singer, songwriter, record producer, and entrepreneur. He was a member of the now-defunct Plantashun Boiz.
A fun fact about 2Baba is that he was once the richest musician in Africa and Nigeria before Davido and Wizkid came along.
2baba has a garage full of cars worth approximately #200 million.
6. P-Square – $16 Million
The Nigerian music industry will not be the same without P-Square. The couple is arguably among the wealthiest in the country.
They were both born in November 1981 and recently celebrated their 40th birthdays. Last Night, their debut album, was released in 2002, which was the catalyst for their big break. Unfortunately, the duo split in 2016 and went their separate ways. However, they returned in 2021 and became an even stronger force.
Mr. P has cars worth more than $300 million, while Rudeboy’s cars are said to be worth nearly $500 million.
7. Olamide – $15 Million
The street King, Olamide Baddo, cannot be left off Nigeria’s richest musicians list. He is a Nigerian rapper and singer whose contributions to the music industry cannot be overstated. In the music industry, he is one of the most powerful forces to be reckoned with.
Olamide rose to prominence following his debut single, Eni Duro, a rap track that garnered a lot of attention and can be said to have set him on the path to success. Olamide is a multi-talented rapper who raps in both English and Yoruba. Rapsodi, his debut album, was released in 2011.
The label boss’s cars are estimated to be worth approximately #340 million.
8. Phyno – $12 Million
Azubuike Nelson Chibuzor is Phynofino, the fine boy of the music industry. He rose to prominence for his ability to rap fluently in English and indigenous languages.
His rap style adds a unique vibe to his music and makes it addictive. Apart from music, Phyno has also invested in real estate and fashion. His automobiles are worth nearly $300 million.
9. TImaya – $11.4 Million
Inetimi Alfred Odon, better known as Timaya, is a Nigerian musician best known for his song Plantain Seller. He was born on August 15th, 1980. He founded ‘Dem Mama Records Limited.’
He began his music career in 2015 with his single, Dem Mama, which was also included on his debut album, True Story.
Timaya has several investments in addition to music. The 41-year-old owns a #250 million mansion in Lekki. His automobiles, on the other hand, are worth nearly #300 million.
10. Asa – $10.5 Million
Bukola Elemide, known professionally as Asa, is a Nigerian/French musician. Asa rose to prominence with her debut single, Eye Adaba.
Asa has been nominated for several awards, including “Best R&B/Pop Album,” “Best Alternative Sound,” and “Best Vocal Recording Of The Year.”
Asa has a quiet personality and does not participate in social media.