One of the fastest-growing businesses in Nigeria is the music industry, which has been going on a worldwide streaming binge. Some of the most renowned artists on the planet have come from this sector.
The Nigerian-inspired Afro Beats genre, which enjoys widespread acclaim, has had a positive impact on how people see Africa and particularly Nigerian music.
Do you need immediate money? See our ranking of the top quick loan applications in Nigeria that provide loans up to 5 million naira.
Nigerian performers like Wizkid, Don Jazzy, Phyno, Tuface Idibia, Davido, and others are responsible for the industry’s success.
Also, get Latest Songs Here..Six9ja Music.
The top 10 wealthiest Nigerian artists in 2022, as determined by Forbes, will be profiled in this article along with their lifestyle preferences. Some of the artists that made it to our list of the wealthiest musicians in 2021 and 2022 also made it to our list in 2022.
Davido-Net Worth is $40 Million
Nigerian-American With an estimated $40 million net worth, David Adeleke will be the wealthiest musician in Nigeria in 2022. The DMW chairman was also referred to by Forbes in 2020 as an Afrobeats superstar. With notable hit songs including “Fall,” “Assurance,” “If,” and “Dami Duro,” he has established himself in the music business despite coming from a wealthy family.
Davido averages 20 million views for each of his videos on YouTube. Davido, who is the son of Chief Adeleke, one of the richest men in Nigeria, is a signed artist with Sony Records, a record company that has also released music by Tiwa Savage, Tekno, and other artists.
One of Africa’s most well-known artists is without a doubt the Afrobeat sensation. Due to his financial savvy in the music industry, Davido was included on the Forbes Africa 30 Under 30 list in 2018. He is today one of the most popular musicians both in Africa and internationally.
He has signed several popular performers to the DMW record label, including Mayorkun, Dremo, Peruzzi, and others.
Davido has earned several honors since he first gained notoriety, including BET and MTV awards. Additionally, he has endorsed MTN and Guinness Nigeria on a number of occasions, winning the hearts of other companies and enhancing his financial standing.
- David signed an endorsement deal worth N30 million with MTN on April 6, 2012.
- He signed a multi-millionaire deal with Guinness for the ‘Guinness world of more concert’ on October 24, 2013.
- Davido signed an endorsement deal with Infinix Mobile on May 9, 2018.
- David became the brand ambassador for Martell Cognac in 2021(€12 million)
- David is the brand ambassador for Playstation. He announced the deal on March 14, 2022.
Davido’s Cars And Houses
Davido owns two known luxurious homes; his home in Banana Island, Lagos, which costs a reported
- Rolls Royce Cullinan 2019 (₦350 Million)
- Bentley Bentayga (₦108 Million)
- Bentley Continental GT (₦95 Million)
- Range Rover SV Autobiography (₦98 Million)
- Land Cruiser Toyota (₦30 Million)
According to estimates, David demands no less than $10 million for each show. His music and sponsorships are his main sources of revenue, contributing to his $40 million net worth.
Wizkid-Net Worth Is $30 Million
According to statistics, Wizkid is the second-richest singer in Nigeria, with a staggering estimated net worth of $30 million as of 2022.
The father of two and afrobeat musician is the first Nigerian to sell out the 02 venue in London three days in a row.
Since the release of his first track, Holla at your dude, he has shattered several records.
An accomplished vocalist, Wizkid has worked with international musicians like Drake, a Canadian rapper, on songs like “One Dance,” which broke the record for Spotify’s most-played song in 2016 and joined the Guinness Book of Records.
Brown Skin Girl, a song he co-wrote with Beyonce for her “Lion King: Gift” album, won the Grammy for Best Music Video.
His smash album “Made In Lagos” saw phenomenal success in 2021, and his song “Essence,” which featured Tems, reached the top of the charts all over the world.
Angelique Kidjo defeated Essence to win the Grammy for Best Global Song of the Year.
Due to his reputation in the business and various endorsement agreements, Wizkid has amassed an enormous amount of wealth and success.
- Wizkid became a brand ambassador for Ciroc in 2018
- Wizkid bagged an endorsement deal with Pepsi, Guinness, and Techno
- Wizkid was also pinned as brand ambassador for MTN, GLO, and UBA
- Wizkid got endorsement deals with Nike, Puma, and Dolce & Gabbana
Wizkid‘s Cars And Houses
In addition to a lavish property in Los Angeles, California, Wizkid also has a mansion in Surulere, Nigeria, valued at roughly N13 million. Wizkid’s carrier collections include:
- BMW X6 crossover (₦8.7 million)
- Porsche Panamera (~₦50.8 million)
- Lamborghini Urus (₦80 million)
- Used Mercedes Benz G63 AMG (₦55 million – ₦65 million)
3. Don Jazzy
Don Jazzy-Net Worth is $20 Million
The third-richest artist in Nigeria is Michael Collins Ajereh, better known as Don Jazzy. The accomplished producer, label owner, and vocalist has plotted out his career in music and made a name for himself.
According to estimates, the CEO of Mavin Records, Don Jazzy, is reportedly worth an astounding $20 million, which has an impact on his tastes and way of life.
His musical career gained speed when he co-founded Mo-hits recordings with Oladapo Daniel Oyebanjo, better known as Dbanj.
With its main performers, Wande Coal, D’Prince, and Dr. Sid, Mo-Hits Records achieved success in the music business.
However, things took a bad turn, and the Mo-hits group disbanded. Whatever the case, the end of Mo-hits marked the start of something more significant.
MAVIN RECORDS, the personal record label of Don Jazzy, was established on May 7, 2012.
With musicians like Ayra Starr, Rema, Crayon, Ladipoe, Magixx, Korede Bello, Johnny Drille, and others, the record company has seen tremendous success.
Tiwa Savage, who later joined the Universal label, was really the first Queen of Mavin recordings.
Don Jazzy has won accolades for his production work, including Mr. Endowed at the 2011 Headies and Producer of the Year for the song “Over the Moon.”
For the song “Dorrubucci” at the Headies 2014, he also received a special recognition award: City People Entertainment 2015 and Producer of the Year.
Based on Don Jazzy’s standing as the wealthiest artist in Nigeria, the Mavins CEO has made little effort to lead a healthy lifestyle in terms of vehicle and home purchases.
Don Jazzy’s Cars
- 2016 Cadillac Escalade(N40 million)
- Bentley Continental Flying Spur(N90 million-N120 million)
- Range Rover Sports(N67million -N80million)
- Porsche 911 Carrera(N₦1.9million – ₦68million)
4. Burna Boy
Burna Boy-Net Worth of $20 Million
Damini Ebunoluwa Ogulu, aka Burna Boy, is Nigeria’s 4th richest musician, with a net worth of $20 million in 2022. He was on the list of the richest artists in both 2021 and 2020.
The Grammy award-winning singer, rapper, songwriter, and dancer is one of the forerunners of the Afrobeat genre across the globe. The River state indigene, Burna Boy, rose to national acclaim in 2012 after he released ‘Like to Party’ from his debut album L.I.F.E.
Between 2019 and 2022, Burna Boy won Best International Act at the 2019 BET Awards and was announced as an Apple Music Up, Next artist.
He was recognized as the year’s top African artist at the 2020 Vodafone Ghana Music Awards. In the same year, Burna’s album Twice as Tall was nominated for the same category at the 63rd Annual Grammy Awards, making him the first Nigerian with successively nominations at the Grammys.
By 2021, Burna Boy bagged the Best World Music Album at the 63rd Annual Grammy Awards, a first for a Nigerian solo artist.
The “Odogwu” crooner recently recorded massive success with “Last last,” his first single from his upcoming sixth studio album ‘Love, Damini’; which debuted at number 1 on the UK Afrobeats chart.
Burna Boy is the first artist in the world with two hits to peak at number 1 on the chart.
The song, ‘Last Last’ is on other streaming platforms, with over 4 million streams on Spotify. In April, Burna Boy shut down Madison Square; he became the first Nigerian music artist to headline a sold-out concert in Madison Square Garden in New York, USA.
Each ticket for the concert sold stood at nothing less than $80 on an average of $2250. Burna Boy reportedly raked N3 billion naira from the show.
Burna Boy’s Cars And Houses
According to reports, the “Kill dem” singer bought himself an 8-bedroom exotic mansion at Lekki in Lagos. The singer also owns an expensive garage of cars, including;
- Burna Boy Range Rover Autobiography(N26 million-N38 million)
- 2022 Lamborghini Urus Novitec Edition( N332million)
- Burna Boy 2013 Ferrari 458 Italia(N120 million)
- Burna Boy Rolls-Royce Dawn Convertible(N125 million)
5. Tuface Idibia
Tuface Idibia-Net Worth is $18 Million
The projected net worth of Innocent Ujah Idibia, alias 2Baba, 2Face, as of 2022 is $18 million, making him the fifth-richest singer in Nigeria.
He was also among the top 10 wealthiest artists in Nigeria in 2021 on our list.
2Face, a native of Benue State, has established himself as a renowned Afropop performer in Nigeria.
He started his career with the band Plantashun Boiz before going solo. The African Queen singer, who was signed to Kenni’s Music, published his first studio album there under the name “African Queen.”
In 2004, the song “African Queen” launched him to fame. Since then, 2Face has continued to leave his imprint on the music business with singles like “Amaka,” “Oyi,” etc.
Additionally, he has received 70 honors, including those from the MTV Music Awards, Headies, and BET Awards.
Ikeja, Festac, Lagos Island, and the US are just a few of the exotic homes that 2Face is pleased to call his own.
The singer of “Amaka” does a great job of keeping his array of vehicles to himself.
Owners of the Ferrari Coupe, Toyota Land Cruiser, and Chevrolet Corvette Coupe include 2Face Idibia. The cost of the vehicles was (142 million – 177 million).
6. Psquare-Networth Is $16 Million
With a combined estimated net worth of $16 million, Peter and Paul Okoye are among the wealthiest couples in the nation. Following the formation of their Psquare combo, the twin musicians achieved fame.
Peter and Paul were born in Jos, Plateau State, in November 1981. Their “Last Nite” album was published in 2003. This record was referred to be their “major break.”
At the time, P-square was succeeding well and charging up to 15 million naira for a performance.
Before their relationship became strained and they split up, they had already had an impressive music career.
The Split-up and Reunion
They went under the aliases Mr. P and Rudeboy until they split up in 2016.
Their older brother Jude Okoye, often known as Engees, was at the center of their contentious breakup. He was reportedly fired from his position as their manager when they split up.
The pair reunited to work on a song together last year after nearly six years of conflict.
Mr P Cars
Mr P owns a tastefully furnished apartment in Banana Island Lagos, and it is worth N1.5 billion naira. He also owns an expensive fleet of cars, including:
- Range Rover(₦50 million-₦82 million)
- G Wagon(N70 million-N180 million)
- Dodge Challenger(N8 million-N36 million)
- Porsche 718 Cayman(N36 Million-N62 Million)
Rudeboy Cars And Houses
Rudeboy owns an expensive property in Parkview Estate, Ikoyi Lagos, Nigeria. He also has several cars, including:
- Bentley Bentayga(N80 million-N170 million)
- Mercedes-Benz GLE43 AMG 4MATIC Coupe(N36 million-N90 million)
- Lamborghini Aventador Roadster(₦140 million – ₦282 million)
- Lamborghini Huracan(₦80 million – ₦120 million)
Olamide-Net Worth is $15 Million
Olamide Adedeji, nicknamed Baddo Sneh, is projected to have a net worth of $15 million in 2022, making him the seventh-richest singer in Nigeria. On March 15th, 1989, Olamide was born in Bariga, Lagos State.
The local rapper is widely known for singing mostly in his native Yoruba, a trait that has won him popularity in the streets.
Although Olamide today owns his record label YBNL Nation and produces musicians like Asake, Fireboy DML, Jayboi, and others, he first entered the music industry with the Coded Tunes label.
Olamide’s music became well-known in 2012 following the release of his single Eni Duro. Additionally, the 2011 release of his album Rapsodi helped him advance in the field.
After Rapsodi came YBNL, his second album, which had a few tracks that quickly gained him more acclaim.
The singer of “Anifowose” has released almost 40 EPs in addition to 10 albums.
In the Nigerian music business, he has also won several accolades, including Best Indigenous Artist and Album of the Year.
He recently collaborated with street performer Portable on his song “Zazoo Zeh” in 2021. The song has won praise and admiration throughout the country.
Olamide has also said that his next discography could be his last. He said he was making “the best” of it by adding the final touches. The rapper said that he will only release singles moving forward after “Unruly.”
Olamide Cars And Houses
Olamide owns two luxurious mansions in Lekki and Bariga, Lagos. His garage is also filled with expensive cars, including:
- Range Rover Sports (#15 million)
- Mercedes-Benz G Wagon (~₦23 million)
- Range Rover Sports V8 (₦84 million – ₦90 million)
- Toyota Venza (#6 million)
- Rolls-Royce Phantom (~₦204 million)
Phyno-Net worth is $ 12 million
The eighth-richest artist in Nigeria is Azubuike Nelson, alias Phyno, who is expected to have a net worth of $12 million by 2022. The Anambra state native’s high goal of becoming a doctor was ultimately eclipsed by his musical skills.
Since he started his music career in 2003, Phyno has also worked as a producer for well-known artists including Flavour, Timaya, Mr. Raw, and others.
Rapping in their native tongues is a trait shared by Phyno and Olamide Baddo. Additionally, they are close friends.
Awards given to Phyno include those for best song of the year and best collaboration.
Additionally, in the song “Doings,” he collaborated with Flavour, and in 2020, he will release the hit song “Highway” with DJ Kaywise.
At the end of the year, 2020 saw the official video for Phyno’s song, “For The Money,” with Perruzi. Following the release of his 2020 debut song, “Never,” followed “For The Money.”
In 2018’s “Lionheart” by Genevieve Nnaji, he made his acting debut. With Nairabet, Nigerian breweries, Airtel Telecommunications, and other companies, Phyno secured endorsement arrangements.
Phyno’s Cars And Houses
He is the proud owner of a million-naira flat duplex at Chevron Drive. The apartment reportedly cost about ₦170 million and has 3 bedrooms.
Phyno reportedly owns a ₦70m luxury house in Enugu – his hometown. He also owns a flashy list of cars.
- Bentley Continental GT(₦73.7 million)
- Rolls Royce Phantom(₦170 million)
- Toyota Avalon(₦13 million)
- Range Rover sport(₦90 million)
Timaya-Net Worth is $11.4 Million
On August 15, 1980, Inetim Timaya Odom, better known as Timaya or “plantain boy,” was born.
He has a net worth of $11.4 million, making him the 9th-richest artist in Nigeria.
Dem Mama Soldiers was the musical ensemble that Tina’s started with.
He published “True Story” in 2007. Other significant singles include “Gift and Grace,” which was published in 2008, and his third album, De Rebirth, came soon after True Story.
King Perry was signed by Timaya, a 41-year-old CEO of the DM record company. The record company was also home to Runtown and Patoraking.
Timaya’s Cars And Houses
Timaya currently owns a delectable ₦250 million mansion at Lekki, Lagos State. The singer never fails to show off, especially with his viral Mercedes G-Wagon cars in different colours, which once went viral on social media.
No doubt Timaya has an enviable care collection including;
- Mercedes-Benz GLE (₦20 million – ₦22 million)
- Bentley Continental GT (~₦76 million)
- Lexus LX570 2015 (₦29,000,000 – ₦39,000,000)
- Mercedes-Benz G55 AMG (₦60 million – ₦85 million)
Asa- Net Worth of $10.5 Million
The breakthrough hit by Nigerian/French vocalist Asa Bukola Elemide, alias Asa, “Eye Adaba,” propelled her to fame.
She beat out 10 other singers to win the French Constantin Award in 2008 thanks to the album “Asa,” as determined by a panel of 19 music industry professionals in Paris.
Asa has received several honors, and she was nominated for the 2015 Headies for “Best R&B/Pop Album,” “Best Alternative Song,” “Best Vocal Performance (Female),” and “Best Recording of the Year.”
After a brief hiatus, Asa returned with her new album “V” in 2022. Asa lives a quiet life and has kept her business private, so her cars and houses are unknown.
Right now, Asa is reportedly worth $10.5 million.
Get Latest New News Here, Were Are Updating 247 >> Six9ja News<<
Do you find Six9ja useful? Click here to give us five stars rating!