The Nigerian music industry continues to be a powerhouse not only in Africa but on a global scale. Our music has transcended borders, earning these artists massive recognition and incredible wealth. In 2024, some musicians are celebrated for their talent and business acumen, raking in billions of naira through music, endorsements, and entrepreneurial ventures.
Here’s a look at the top 10 richest Nigerian musicians of 2024:
1. Davido – ₦8.2 Billion
Davido, the “OBO” (Omo Baba Olowo), leads the pack with a staggering net worth of ₦8.2 billion. Known for hits like Fall and FEM, he has built his empire not only through music but also with multiple endorsement deals, including one with MTN and Guinness. His global tours and successful business ventures have cemented his status at the top of Nigeria’s music wealth chart.
2. Wizkid – ₦8 Billion
Right behind Davido is Starboy, Wizkid, with a net worth of ₦8 billion. Wizkid’s international collaborations, including hits with Drake and Beyoncé, have helped him build a massive global fanbase. With endorsement deals from Ciroc, UBA, and Nike, among others, Wizkid continues to reign as one of Africa’s biggest stars.
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3. Don Jazzy – ₦7.7 Billion
Don Jazzy is more than just a producer—he's a mogul. As the founder of Mavin Records, his influence in the music industry extends to discovering talents like Rema and Ayra Starr. With his net worth sitting at ₦7.7 billion, Don Jazzy has also capitalized on endorsement deals with Loya Milk and Sky Vodka, making him one of the richest music figures in Nigeria.
4. Burna Boy – ₦6.5 Billion
Grammy-winning Burna Boy has taken Afrobeats to new heights. His ability to blend African rhythms with international appeal has won him accolades, including multiple BET awards and Grammy nominations. With a net worth of ₦6.5 billion, Burna Boy is not just one of the richest but also one of the most celebrated African artists globally. Endorsements with Star Lager and Globacom further add to his financial success.
5. Mr. P (Peter Okoye) – ₦6.2 Billion
Formerly part of the iconic duo P-Square, Mr. P has successfully carved out a solo career since the group’s split. With a fortune of ₦6.2 billion, his wealth comes from music, endorsement deals, and various entrepreneurial ventures.
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6. 2Baba (Innocent Idibia) – ₦6 Billion
A true legend in the Nigerian music industry, 2Baba’s legacy spans decades, and his influence is undeniable. Though he has slowed down in releasing music, his vast endorsement deals with companies like Guinness and Airtel, alongside his lasting relevance in the industry, have earned him a net worth of ₦6 billion.
7. Olamide – ₦5.5 Billion
A true legend in the Nigerian music industry, 2Baba’s legacy spans decades, and his influence is undeniable. Though he has slowed down in releasing music, his vast endorsement deals with companies like Guinness and Airtel, alongside his lasting relevance in the industry, have earned him a net worth of ₦6 billion.
8. Phyno – ₦4 Billion
Like Olamide, Phyno has championed indigenous rap and made it mainstream. His collaborations, endorsements, and hit albums have earned him a place on this list with a net worth of ₦4 billion.
9. Rude Boy (Paul Okoye) – ₦4 Billion
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The other half of P-Square, Rude Boy has continued to release chart-topping hits since the group’s split. With a net worth of ₦4 billion, he remains one of the richest musicians in Nigeria, thanks to his solo career and business ventures.
10. Timaya – ₦3.8 Billion
Timaya, the dancehall king, rounds out the top 10 with a net worth of ₦3.8 billion. Known for hits like Dem Mama and I Can't Kill Myself, Timaya has built a lasting career through music, endorsement deals, and real estate investments.
Conclusion
These artists are making waves with their music and strategically investing in other ventures, from record labels to real estate and endorsements. The Nigerian music industry remains a hub of immense talent and wealth, with these musicians leading the way.
Want more updates on Nigeria’s entertainment industry? Stay tuned to Supremevibez for the latest on your favorite artists, music releases, and more.
Sources:
- RNN: Top 15 Richest Musicians in Nigeria
- Spynaija: Top 10 Richest Musicians in Nigeria 2024
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