Many artistes have even been able to diversify their source of wealth. some have investments which includes oil and gas, real estates, technology, clothing lines etc.
The following is a complete list of the richest musicians in nigeria;
10. BANKY W
Empire Mates Entertainment (E.M.E) founder Olubankole Wellington has remained a top influencer in the music industry for the past couple of years. he has a couple of endorsements deals with international brands which includes, SAMSUNG, UBER and a host of others.
Banky W is also a film actor, film producer, cinematographer and most recently a politician. in 2017, Banky W married film actress, Adesua Etomi.
He is reportedly worth N3.5 billion
9. OLAMIDE
Olamide Adedeji is one of the most famous indigenous rappers in nigeria. he launched his own label imprint YBNL NATION in 2012 and has seen his popularity soar higher and higher ever since.
In july 2018, Olamide signed a multi-million naira endorsement deal with telecommunication giant GLOBACOM coupled with previous endorsement deals, most notably HENNESSY.
The bariga-born rapper runs an annual tour across european countries (especially britain), america even nigeria.
In January 2015, Olamide's long term partner Adebukunmi Aisha Suleiman gave birth to their first child, Batifeori Maximilliano Adedeji.
Olamide is reportedly worth N3.6 billion.
8. TIMAYA
Enetimi Alfred Odom, popularly known as Timaya is currently the 8th richest musician in nigeria.
The Dem Mama boss became famous after the release of his critically acclaimed debut album "TRUE STORY" which gained massive airplay across the country.
Timaya reportedly charges N8 million per event performance. he's currently under an endorsement contract with GLOBACOM and HENNESSY.
A couple of months back, Timaya completed his multi-million naira mansion in Lekki Lagos where he and his family currently resides.
He is currently worth N4 billion.
7. PAUL OKOYE
Paul Okoye is one half of the defunct legendary music duo 'PSQUARE' . he goes by the stage name "RUDE BOY". Since there separation back in 2017, Rude boy has been dishing out hit jams back to back and has remained strong in the music scene.
Prior to their separation, Paul Okoye and his twin brother used to be the richest artistes in nigeria but the figures has however diminished since their separation.
Paul Okoye is reportedly worth a mouth-watering N5.6 billion
6. PETER OKOYE
Peter Okoye is the other half of the defunct legendary pop duo 'PSQUARE' . more than his twin brother, peter okoye has managed to amass endorsement deals with both local and international brands even while they were still together as a group.
He currently goes by the stage name "MR P" and is reportedly worth N5.8 billion.
5. 2BABA
Innocent Ujah Idibia is currently the 5th richest musician in nigeria, he is also one of the most celebrated and decorated nigerian artiste of all time.
In 2004 after he became a solo artiste, 2face shot into limelight following the release of his debut solo album "FACE TO FACE", which produced hits like "african queen, nfana ibaga, ole".
2baba currently has a multi-million naira endorsement deal with telecommunication firm GLOBACOM and is also rumoured to own a night club in lagos.
he is reportedly worth a whopping N5.9 billion.
4. D'BANJ
D'banj is a multi-award winning artiste who rose to fame with his former partner and friend Don jazzy in 2005 after the release of "TONGOLO" and "WHY ME?" .
In 2012 d'banj signed a record deal with 'GOOD MUSIC', an american record label owned by rapper KANYE WEST.
He is currently worth N6 billion.
3. DON JAZZY
Don jazzy sits at number 3 following his exploits as a label executive. the master producer is renowned for his undying astuteness in the music business, he is popular for bringing unknown individuals into stardom, most notably, 'WANDE COAL, REEKADO BANKS, KOREDE BELLO, DI'JA etc.
Apart from his exploits in the music world, don jazzy is also an astute and diversified businessman, elongating his coast through numerous business cycles.
He is reportedly worth N7.5 billion.
2. WIZKID
Ayodeji Ibrahim Balogun, popularly known as Wizkid is the founder of Starboy Entertainment, launched in 2013 after leaving Empire Mates Entertainment (E.M.E). wizkid has no doubt been one of the most consistent nigerian music stars in recent years, taking our local music sounds to the international scene.wizkid is a multi-award winning artiste and has seen his fame rise beyond the shores of the continent to the world at large.
In 2017, Wizkid caught the attention of the international scene when he collaborated with canadian rapper Drake to record the chart-topping single "come closer". he went further to record more collaborations with popular american rappers and singers.
Wizkid is reportedly worth N10.5 billion
1. DAVIDO
David Adeleke is the son of business magnate 'Adedeji Adeleke' . born in atlanta, georgia, davido released his debut single "back when" in 2011 and has risen to the top ever since.
The pop star left HKN MUSIC and established his own label, "davido music worldwide (DMW)" which houses artistes like MAYORKUN, PERUZZI, DREMO, IDOWEST etc.
In 2017 Davido had quite an incredible and amazing recording year, releasing several chart-topping jams which includes IF, FALL, LIKE DAT, FIA etc, also headlining several concerts both local and international.
Davido has amassed several awards both in nigeria and the international scene and has contributed his quota in putting the nigerian sound amongst contemporary global demand.
Davido is reportedly worth N12 billion
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