Music as we all know is one of the most entertaining art form and cultural activity in Nigeria. Many music fan today debate on “the richest musician in Nigeria” and this article on the top five richest musician in Nigeria is going to clear this uncertainty among fans.
Year after year, Hundreds of Nigerian artists through their music, artistically express themselves by releasing hundreds of musics to the delights of millions across the globe, headlining shows and performing at some other concerts with major sold-out tickets.
Nowadays, hip-hop music has exceptionally displaced the traditional songs and through its influence, the best part of the youths now find it enjoyable at the expense of the long-established songs of our old grannies. Here are the five richest musicians in 2018.
Top 5 Richest Musicians In Nigeria
5. Timi Dakolo
One of the Richest musicians in Nigeria 2018
ESTIMATED NET WORTH: N1 billion
Timi Dakolo, is the number five top musician on our list. Since hitting the limelight by emerging winner at the inaugural season of West African Idol in2007, Timi Dakolo, has not only remained in the consciousness of the people but also his accountant.
On money made fro music, this vocal powerhouse, makes a lot of money performing at private and corporate events where he confirmed he gets paid handsomely.
Timi, is one of the few top artistes in the country, who performed at a paid event almost every weekend in the year, with that, we can all imagine how fat his bank accounts are. His estimated net worth is about N1 billion.
This stylish and rich musician is best known for his love for luxury cars as his garage has 2 cars running into millions. He owns a Chevrolet camaro which is worth about N8 million and a range rover sport worth N23 million. In 2014, Timi, made headlines with his valentine gift to wife, Busola, a completed building, where the family currently lives.
One of the Top five richest musicians in Nigeria 2018
ESTIMATED NET WORTH : N2.5 billion.
‘Abule Sowo‘ crooner, Olamide aka Baddo Sneh, is the number four on our list of the top 5 richest musicians in Nigeria 2018. Olamide, who first signed a mega deal with telecommunications company Etisalat in 2013, renewed the multi million naira deal in 2015. He is also snagged a deal with Ciroc which is reported worth close to N45 Million.
In 2014, he became the brand ambassador for SureBet 24/7, an online sport betting company for a whooping N20 million naira. In 2013, he also became the brand ambassador for Guinness with the deal also reportedly worth several millions of Naira.
He is the CEO of YBNL, a music label which currently houses singers Adekunle Gold and Temmi Ovwasa. Olamide, also makes money from shows and concerts with some being sold out. He charges between N3-5million per show bookings.
Olamide one of the best musicians, also owns of two petrol filling stations and three houses; one on the island and the other two on the mainland. His luxurious home on the Island is reportedly worth N38 Million. The other two houses situated in Bariga are said to be worth over N20 Million each. He splashed a whooping N6 Million on a Toyota Venza automobile for his producer and owns a Mercedes G-Class worth N22 million, Range Rover sport worth about N15 Million and formerly owned a 2012 Model.
ESTIMATED NET WORTH: N3.5 billion
The number three on our list is Wizkid one of the richest musicians in Nigeria is Currently riding on international stride and stars. From owning a Surulere house worth about N15 million to his Lekki home which is estimated at N65 million.
Wizkid, asides his rumored soon to be made public deal with Sony, owns his own record labels, Starboy Records and Starboy Worldwide, which houses 5 musicians in total.
This rich Nigerian musician was a brand ambassador for MTN where he reportedly was paid N45 million before sliding into the tent of rival telecommunications company Glo, where he is reportedly been paid N120 million. He also has a renewed two years Pepsi deal worth N140 million, and over a million sales in record.
Starboy, is an avid lover of automobiles and has quite a few luxury cars in his garage, they include; a Hyundai Sonata which costs about N6 Million, a BMW X6 worth N11 Million, a Mercedes 2012 Compressor which costs N9 Million, a new Porsche Panamera worth N15 million, a Bentley reportedly worth N45 Million, he got barely a month after crashing the old one and a Can-am supercharged bike estimated at N3.5 billion
Richest musicians in Nigeria
ESTIMATED NET WORTH: N4 billion.
Save for the thousand of foreign currencies he flaunts on social media, American born rich Nigerian singer, Davido a.k.a Son Of Mercy, stated clearly that asides his numerous assets, he has $2million in his bank account, which we think might be his trust fund.
He is a brand ambassador for Closeup, Pepsi, formerly an ambassador for telecommunications company MTN, Guinness Nigeria, and recently snagged a Sony endorsement deal reportedly worth $1million. He owns a Lekki mansion worth about N120 million and is at the verge of acquiring a new one, also believed to be worth several millions of Naira.
Davido one of the best musician in Nigeria, also owns fleet of cars to include a 2015 Range Rover Sport worth N35 million, a Rolls Royce Phantom worth N100 million, a 2015 Audi worth N20 million, A Toyota Land Cruiser worth N28 million, Mercedes Benz G-class AMG Series worth over N40 million, Mercedes Benz Sedan AMG series worth over N50 million and a Porsche Carrera worth about N35-45million.
He also owns two music labels, HKN, co-owned with elder brother and DMW, solely owned by him. Coupled with shows/concerts he performs at, record sales and royalties, Both Wiz Kid and Davido are among the best musicians in Nigeria 2018. Davido’s estimated net worth is N4 billion.
ESTIMATED NET WORTH: N5 Billion.
Peter and Paul Okoye, famously known as P-square is one of the best musicians in Nigeria who have stayed relevant in the music industry, snagging deals and headlining major shows and concert along the way. P-square, the first on this list of the top five musicians in Nigeria have an estimated net worth of N5 billion.Their journey into music can be traced back to Jos where they started out. They were initially known for their break dancing which they learnt from their mentor, Michael Jackson.
However, the rich twins have since moved on to carve a niche for themselves in the entertainment industry which has catapulted them to the top of the rich-list in the industry. Peter and Paul Okoye are graduates of Business Administration from the University of Abuja Over the last decade, P-square has released a total of 6 albums which include Last nite.
Get squared Game over Danger The invasion Double trouble Also, many of their singles have become national and international hit, some of these include E no easy, Chop my money, Beautiful Onyinye, Personally, Ejeajo, Bring it on and Getting down Over the years, P-square has won several national and international awards. Some of these include Channel O Music Award, Mtv Africa Music Awards, KORA Awards, the headies and many more.
The duo having grown into being one of the best and richest musicians in Nigeria, has multi-million Naira investments in real estate across the country. Also, their endorsement deal with telecoms giant, Glo is said to run into hundreds of millions of Naira.
Whenever this rich music duo are billed to perform at any event in the country, they earn an average of N20 million per show. And when they perform outside the country, the fee is usually double of their local fees. However, in September 2017, this illustrious group broke up, with Peter Okoye sending a termination letter to the group’s lawyer. Each of them is now trying to embark on a solo music career and this news have not been welcome well by their music fans so well.
Hope you had a nice read!
On our next post we’ll be talking about the Top 10 Richest Musician In Nigeria and Their Worth so stay tuned.
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