Nigeria’s music industry has produced some of Africa’s wealthiest entertainers, with top artists earning millions from streaming, touring, endorsements, and business ventures.
10. Phyno ($8-15 Million)
Chibuzo Nelson Azubuike, known as Phyno, holds the tenth spot with an estimated net worth between $8-15 million (₦13-24 billion). The 38-year-old rapper built his wealth by rapping predominantly in Igbo, dominating Eastern Nigeria’s market.
His Penthauze record label has discovered talents like Nuno and Rhatti, while his annual Phynofest in Onitsha draws over 12,000 fans yearly. Endorsement deals include Monster Energy ($1 million), Guinness, and Hennessy. He commands fees exceeding ₦10 million per show and won Best Indigenous Artist at the Soundcity MVP Awards 2025.
Recent purchases include a Mercedes-Maybach S680 Sedan (₦100+ million), plus properties across Lagos. His streaming catalogue continues generating consistent royalties after over a decade in the industry.
9. Tiwa Savage ($10-13 Million)
Tiwatope Omolara Savage is Nigeria’s wealthiest female artist with an estimated net worth between $10-13 million (₦16-21 billion). Her 2019 Universal Music Group deal ($7 million) made her the first Nigerian female artist to be signed to a significant global label, and she later became MAC Cosmetics’ Face of Africa.
The 45-year-old Berklee College graduate commands $80,000-100,000 per international show. Endorsements with Pepsi, MTN (₦30 million), L’Oréal, Dolce & Gabbana, and Globus Bank generate millions in annual revenue. In 2023, she launched Savage Music Group, her independent label, giving her complete ownership of new music rights.
Real estate includes a ₦75 million Lekki mansion and a $1.7 million London apartment (2022) with a gym and a cinema. She won Best Female Artist at the African Music Awards 2025.
8. Olamide ($12-20 Million)
Olamide Gbenga Adedeji’s net worth sits between $12-20 million (₦19-32 billion). The 36-year-old built wealth primarily through his YBNL Nation label, which Billboard called one of the “gatekeepers of Nigerian music.”
YBNL discovered and developed Fireboy DML, Asake, Adekunle Gold, and Lil Kesh. The label’s EMPIRE distribution deal has reportedly generated over $10 million in revenue. In 2024, Olamide became the first Nigerian rapper nominated for a Grammy (Best African Music Performance for “Amapiano” with Asake).
Endorsements with Cîroc, Guinness, Goldberg Lager (₦50+ million annually), and Sterling Bank bring in millions each year. His annual OLIC shows generate over ₦100 million per edition. Assets include a Lekki Phase 1 mansion (₦200-500 million) and a Lamborghini Aventador (₦230 million).
7. Rema ($15-22 Million)
Divine Ikubor, just 25 years old, has accumulated an estimated $15-22 million (₦24-35 billion), primarily driven by one viral hit. “Calm Down,” featuring Selena Gomez, became the first African song to surpass 1 billion Spotify streams and peaked at number 3 on the Billboard Hot 100. The track generated approximately $4 million in Spotify royalties alone.
Discovered by D’Prince and signed to Mavin subsidiary Jonzing World, Rema commands show fees from $150,000 to $3 million. He earned $3 million performing at the Ambani wedding in Mumbai in July 2024. His total Spotify streams exceed 5.2 billion.
Endorsement deals with Pepsi, Puma, Tommy Hilfiger, and Nike include profit-sharing arrangements and equity stakes. Recent car purchases include a 2025 McLaren GTS (₦600+ million), a Mercedes-AMG G63, and a Lamborghini Urus S (combined ₦700+ million). His Grammy nomination for the album HEIS and inclusion on Barack Obama’s 2022 summer playlist cemented his global relevance.
6. 2Baba ($15-28 Million)
At 49, Innocent Ujah Idibia maintains an estimated net worth of $15-28 million (₦24-44 billion). His 29-year career continues generating royalties, particularly from “African Queen,” which Billboard ranked as the number one Afrobeats song of all time in 2025.
His longevity is his wealth engine. Decades of hit songs generate consistent catalogue royalties, while endorsement deals with Globacom (renewed in 2025), First Bank, and Campari provide ongoing income. As Campari’s first African ambassador, a Member of the Order of the Niger, and a UNHCR Regional Goodwill Ambassador, his brand value extends beyond music.
He announced separation from wife Annie Idibia in January 2025, but continues performing at high-profile events, commanding premium fees.
5. Don Jazzy ($25-35 Million)
Michael Collins Ajereh’s February 2024 sale of a majority stake in Mavin Records to Universal Music Group valued the company at an estimated $125-200 million, representing the largest exit in African entertainment history. His personal net worth sits between $25-35 million (₦40-55 billion), though his stake from the UMG deal likely positions him for significantly more.
The 42-year-old built Mavin into a hit-making factory, currently housing Rema, Ayra Starr, and Crayon. As producer and co-writer on countless hits over two decades, he collects ongoing royalties. He won Producer of the Year at the Soundcity MVP Awards 2025.
Beyond music, he owns Jazzy’s Burger restaurants, Mavin Energy Limited (petroleum), Mavin Real Estate, plus tech investments. Endorsements with Samsung (₦110 million), Glo, inDrive, and Quidax supplement income. Properties include a ₦500 million Banana Island mansion and a Los Angeles home.
6. P-Square ($25-37 Million)
Peter and Paul Okoye maintain a combined net worth estimated between $25-37 million (₦40-59 billion) despite their 2017 split. Paul Okoye (Rudeboy) is individually wealthier, with an estimated $15-16 million, while Peter (Mr P) holds an estimated $10-12 million.
Their legacy catalogue continues generating substantial passive income from decades of hit songs. Properties span Ikoyi, Lekki, Banana Island, and Atlanta. Peter runs PClassic Records while Paul operates Fire Department Inc.
Their reunion has reignited commercial interest and endorsement opportunities. The P-Square brand proved remarkably resilient, with both brothers maintaining strong fan bases even during their public feud.
3. Burna Boy ($22-50 Million)
Damini Ebunoluwa Ogulu commands an estimated net worth between $22-50 million (₦35-79 billion), though his manager, Jude Okoye, once claimed Burna earned $80-100 million over four years from touring.
The 33-year-old became the first Nigerian male solo artist to win a Grammy when Twice as Tall took Best Global Music Album in 2021. His 11 career Grammy nominations across six consecutive years make him the most Grammy-nominated African artist ever. He was the first Nigerian to headline a U.S. stadium (Citi Field, 2023), first African to headline a UK stadium (London Stadium, 2023), and first non-Francophone Afrobeats artist to headline Stade de France (2024).
Stadium shows generate his highest income, with fees exceeding $1 million per performance. His July 2025 album No Sign of Weakness features Travis Scott, Mick Jagger, and Stromae. Endorsements include Pepsi, Chivas Regal, Gucci, and Hugo Boss.
His car collection includes a one-of-one Ferrari Purosangue (₦1+ billion), McLaren Senna (₦3.2 billion), and diamond-encrusted Rolls-Royce Cullinan (₦1+ billion).
2. Wizkid ($30-50 Million)
Ayodeji Ibrahim Balogun rose from a middle-class Lagos household to an estimated net worth between $30-50 million (₦45-79 billion). The 35-year-old became the first Nigerian to top the Billboard Hot 100 with Drake’s “One Dance” (2016), which became the first song to reach 1 billion Spotify streams.
“Essence” featuring Tems became the first Nigerian song to chart on the Billboard Hot 100, peaking at number 9 with Justin Bieber’s remix. His November 2024 album Morayo broke Spotify’s record for the biggest African album streaming debut.
Starboy Entertainment, his record label, provides complete creative control and higher revenue percentages. Major endorsement deals include UBA ($3 million), Nike ($3.75 million for 2018 World Cup jerseys), and Puma.
Assets include properties in Lagos and a reported $15 million Los Angeles home, plus a luxury car fleet valued at over ₦5 billion: a McLaren 750S MSO (₦1.7 billion), a Ferrari 296 GTS (₦1.2 billion), a Ferrari SF90 Stradale (₦1.4 billion), and five Rolls-Royces. He reportedly earned $5 million for performing at Cristiano Ronaldo’s 2025 birthday party.
1. Davido ($55-100 Million)
David Adedeji Adeleke tops the list with an estimated net worth of around $100 million (₦158.9 billion), though his wealth includes access to his billionaire father’s fortune. Dr Adedeji Adeleke owns Pacific Holdings, whose private jet Davido frequently uses.
The 32-year-old, born in Atlanta and raised in Lagos, has accumulated 5 billion career streams, five Grammy nominations, and annual earnings estimated at $20 million. His DMW Records launched successful careers for Mayorkun and Peruzzi. His 2025 5ALIVE tour generated $1.6 million from just three shows.
Endorsements with Puma, Martell, Infinix, and Pepsi collectively exceed $5 million yearly. Real estate includes a ₦1.5 billion Banana Island mansion and Atlanta property. His car collection features a Rolls-Royce Cullinan and a Lamborghini Aventador S Roadster, totalling over ₦2 billion.
His April 2025 album 5ive, featuring Chris Brown, Victoria Monét, and Omah Lay, debuted at number one. In November 2025, he secured his fifth Grammy nomination for “With You” (with Omah Lay), making him the most Grammy-nominated Nigerian artist in history.
Key Wealth Sources for Nigeria’s Top Musicians
The richest Nigerian musicians generate wealth through five primary channels:
Touring and Live Performances: Burna Boy earns $1+ million per stadium show, Davido generated $1.6 million from three 2025 tour dates, and Wizkid consistently sells out international venues.
Record Label Ownership: Don Jazzy’s Mavin-UMG deal valued the company at $125-200 million. Olamide’s YBNL, Davido’s DMW, and Wizkid’s Starboy Entertainment generate recurring revenue from signed artists.
Endorsements: Top artists earn $2-7 million annually from partnerships with telecoms (Globacom, MTN), beverage brands (Pepsi, Hennessy), and global companies (Puma, Nike).
Real Estate: Banana Island and Lekki properties in Nigeria, plus holdings in London and Los Angeles, provide asset appreciation and diversification.
Business Ventures: Don Jazzy’s restaurant chain, Olamide’s distribution deals, and various tech investments supplement music income.
