Top 10 Richest Musicians In Nigeria In 2023

Everyday. Sunday through Saturday, 30BG, The FCs, and other fanbases throw punches around about who the real G.O.A.T of the Nigerian music industry is. And, since less talk more facts is — some sort of — a mantra linked to one of the fanbases in this fandom war, we have researched and curated an article on the top 10 richest musicians in Nigeria in 2023 based on facts. 

By and large, the Nigerian music industry has witnessed significant growth and evolution over the past few decades. But boy, are we about to disregard the roles Nigerian music artists and their fanbases play in the widespread popularity of this “gospel?!” Well, we always deliver our units, so not to worry. 

Somewhere in our minds, it feels as though we all have resolved to agree that Wizkid is the popsy of this Afrobeats sound and by extension, the Nigerian music industry. Talk about a “daddy figure” (good Lord, is he not?!), uniqueness, fanbase, and earnings, maybe? Chile, you better continue reading and not break bottles because the keyboard war is about to be settled. 

Top 10 Richest Musicians in Nigeria in 2023

Davido has 30BG who delivers their units in all aspects of their “fandom-ship,” yet it seems as though they are not anywhere close to Wizkidʼs. Nah, how hard haven’t The FCs sucked his sound?! 

Meanwhile, we have Don Baba J (Don Jazzy), who is without any debate The Don of this game. Peter PSquare and Rudeboy of The Okoye twins, recently reunited to make their impact more loud and clear. 

Oh, and the Odugwu of Burna Boy the African Giant. Outsiders be doing the most these days for real but anyway, moving on. 

There’s Olamide the baddest baddo amid all these keyboard wars. Then, there’s Flavour Nʼabania of Ukwu Sarambara and Phyno Fino of Eze Nnulu! These don’t care much for digital punches, and neither do their fanbases. 

Without a doubt, there are many other big names in the game, so check out our list of the top 10 richest musicians in Nigeria in 2023, and their estimated net worth according to Forbes to see why they merit the Greatest Of All Times status. 

From top to bottom; here goes: 

1. Davido with a net worth estimated at $90 million — the G.O.A.T, nah? 
2. Wizkid with a net worth estimated at $70 million
3. Don Jazzy with a net worth estimated at $55 million
4. Burna Boy with a net worth estimated at $40 million
5. Timaya with a net worth estimated at $35 million
6. D’banj with a net worth estimated at $30 million
7. 2Face Idibia with a net worth estimated at $27 million
8. Flavour with a net worth estimated at $23 million
9. Olamide with a net worth estimated at $21 million
10. Phyno with a net worth estimated at $20 million

DAVIDO 

The number one richest Nigerian Musician on our list of the top 10 richest musicians in Nigeria in 2023 is Davido of the 30BG fanbase. OBO, who we now know as Davido was born David Adedeji Adeleke on November 21, 1992, in his birth country, Atlanta, Georgia in the United States of America. 

Presently 30 years old, David was raised by his billionaire businessman father, Chief Deji Adeleke, and his university lecturer deceased mother, Mrs. Vero Adeleke. Davido is originally from Ogun State in the South-Western part of Nigeria. He holds dual citizenship: American citizenship and Nigerian citizenship. 

Meanwhile, he had his university education at the prestigious Babcock University, Ogun State. He graduated with a Bachelor’s Degree in Music in 2015.

The founder and Chief Executive Officer (CEO) of Davido Music Worldwide (DMW), Davido recently released his fourth studio album, Timeless. With the amount of influence and success he has made over the last decade of being in the game, Davido is presently the richest musician in Nigeria in 2023, according to Forbes. David Adedeji Adeleke isn’t called the OO1 of the game for no reason, he has an estimated net worth of about $90 million.

Latest Nigerian music

Davido Cars and Houses 

David Adeleke has a Getaway Mansion in Georgia, United States, and two Mansions in Lekki, Lagos State, Nigeria. These are some of his cars:

Bentley Bentayga (₦108 million)

Range Rover SV Autobiography (₦98 million)

Porsche Panamera Turbo S (~₦22.8 million)

Range Rover Sports (₦84 million – ₦90 million)

Chevrolet Camaro GS (₦9.4 million)

Bentley Continental GT (~₦95 million)

Mercedes-AMG GLS63 (~₦45 million)

Toyota Land Cruiser (~₦30 million)

Audi R8 (₦23.4 million)

Mercedes G-Wagon (~₦21 million)

Range Rover Sport 

Chevrolet Camaro

Porsche

Audi Q7 (₦12 million

Rolls Royce Cullinan 2019 (~₦350 million)

WIZKID 

Making it at number two in our list of the top 10 richest musicians in Nigeria in 2023 is Wizkid of the FC fanbase. Starboy, who we now know as Wizkid was born Ayodeji Ibrahim Balogun on July 16, 1990, in Surulere, Lagos State, South-Western part of Nigeria. 

Presently 32 years old, Wizzy schooled briefly at the famous Lagos State University before dropping out just a few years after his admission. Through his parentsʼ suggestion, he reapplied for admission and later got admitted to Lead City University in Lagos. However, he dropped out the second and last time to focus full-time on his music career. 

By the way, Wizkid started his career in 2001 at the young age of eleven. With his hit international records ranging from Essence to his Made in Lagos album, Ayodeji Ibrahim Balogun has an estimated net worth of about $70 million. He is recognized as the second richest Nigerian musician in 2023 — after Davido — according to Forbes. Meanwhile, he is the CEO and founder of the record label, Star Boy Records.

DON JAZZY 

Don Jazzy: a proper noun meaning G.O.A.T in the game. With an estimated net worth of about $55 million, Don Jazzy is the number third richest Nigerian musician in 2023 — after Wizkid — according to Forbes. Don Baba J, who we now know as Don Jazzy was born Michael Collins Ajereh on November 26, 2982, in Umuahia, Abia State, South-Eastern part of Nigeria. 

Presently 40 years old, Don Jazzy started playing musical instruments such as the drums, traditional instruments, and bass guitar at the age of 12. He spent a few years at the prestigious Ambrose Ali University Ekpoma, Edo State before dropping out to focus more on his musical career. 

Looking at his career portfolio, Don Jazzy has single-handedly invested twice as much in up-and-coming musicians than any Nigerian musician would ever in the coming decades. With his famous record label, Mavin Records, The Don has signed musicians such as Rema, Ayra Starr, Magixx, and Boy Spyce, to mention only a few. 

BURNA BOY 

The number four Nigerian musician to make it to our top 10 richest musicians in Nigeria in 2023 is Burna Boy. Odugwu, who we now know as Burna Boy was born Damini Ogulu on July 2, 1991, in Port Harcourt, Rivers State, South-Southern part of Nigeria. 

Presently 31 years old, Burna Boy started making music when he was about ten years old. His family is known for their rich musical heritage, so music formed an integral part of Burnaʼs childhood years. Meanwhile, he started his music career professionally in 2010 at age 19.

The only son of his parentsʼ four children, Damini Ogulu spent his childhood/adulthood years between the United Kingdom and Port Harcourt. With his decade-long contributions to the Nigerian music industry, he is known for his latest hit songs such as “Last Last.” 

A 2015 Best Pop Artist of the Year at the Headies Award and Europe Music Awards winner, Burna Boy also boasts of being a Grammy Awards winner. According to Forbes 2023 estimates, he has an estimated net worth of about $40 million. 

TIMAYA

With an estimated net worth of about $35 million, Timaya made it to our list of the top 10 richest musicians in Nigeria in 2023. He was born Enitimi Alfred Odom on August 15, 1980, in Port Harcourt, Rivers State, South-Southern part of Nigeria. Presently 32 years old, he is originally a native of Bayelsa State. 

His 2006 single titled “True Story” shot him into the spotlight. Otherwise, he is also known for his hit single “Dem Mama,” which is one of the songs in his first debut studio album. By the way, he started his career in 2005, and is now the founder and CEO of the record label named after his hit single: “Dem Mama Records.” 

Latest Nigerian music

DʼBANJ 

Born Oladapo Daniel Oyebanjo on June 9, 1980, in Zaria, Kaduna State, Northern part of Nigeria, Daniel is who we now know as DʼBANJ. Known as the “Koko Master” for his hit single, DʼBANJ is originally from Ogun State, Nigeria. 

Meanwhile, he graduated with a Bachelor’s Degree in Mechanical Engineering from the prestigious Oxford University, London, United Kingdom. With an estimated net worth of about $30 million, DʼBANJ is the sixth richest Nigerian musician to make it to our list of the top 10 richest musicians in Nigeria in 2023. 

2FACE IDIBIA 

2Face Idibia is the seventh richest Nigerian musician in 2023. He was born Innocent Ujah Idibia on September 18, 1975, in Jos, Plateau State, Northern part of Nigeria. However, he is originally from Idoma in Benue State, Nigeria. 

Presently 47 years old, 2Face Idibia had his higher education at the Institute of Management and Technology (IMT) in Enugu, where he graduated with a National Diploma (OND) in Business Administration Management. Looking at Forbes’ estimate, he has an estimated net worth of about $27 million. 

FLAVOUR NʼABALIA

Born Chinedu Okoli on November 23, 1983, in Achara Layout, Enugu State, South-Eastern part of Nigeria, he is originally from Umunze in Orumba South Local Government Area of Anambra State, Nigeria. He is the first son of three siblings and seven step-siblings. 

Flavor, who is known for his hit single “Ukwu Sarambara,” is the eighth Nigerian musician to make it to our list of the top 10 richest musicians in Nigeria in 2023 is Flavour Nʼabalia. Meanwhile, his net worth is estimated to be $23 million. 

Presently 39 years old, he had his elementary education at Robinson Primary School in Uwani, Enugu State. For his high school, he attended Uwkunanaw Boys Secondary School in Achara Layout, in Enugu State, Nigeria. 

OLAMIDE 

Olamide was born March 15, 1989, in Bariga, Lagos State, South-Western part of Nigeria. Also known by the alias Olamide Baddo or Baddest Guy Ever Liveth, the Nigerian music star decided to pursue a career in the music industry in 2000 at the age of 11. By 2010, he had gained widespread popularity and he was opportune to perform at the Hip Hop World Awards. 

Having been in the game for decades and having invested several human resources in a handful of up-and-coming Nigerian music artists, Olamide still invests as much in new acts through his record label, YBNL Nation Record Label, for which he is the CEO and founder. He has an estimated net worth of about $21 million, according to Forbes 2023 estimate. 

PHYNO FINO 

Last but not least Nigerian musician to make it to our list of the top 10 richest musicians in Nigeria in 2023 is Phyno Fino. He was born Azubuike Chibuzor Nelson on October 9, 1986, in Abakpa-Nike, Enugu State, South-Eastern part of Nigeria. However, he is originally from Anambra State. 

Presently 36 years old, the Eze Nnunu crooner who we now know as Phyno Fino started learning how to play musical instruments such as drums and piano during his high school years at Abakpa. Meanwhile, he currently has an estimated net worth of about $20 million. 

Here you have it, from top to bottom list of the top 10 richest musicians in Nigeria in 2023 and their net worth according to Forbes 2023 estimate. 

Over to you, what do you think about the list? Did your G.O.A.T make it to this “list of real G.O.A.Ts” or we should go to court? Anyway, whatever may be the case, share your opinions in the comments section.