Top 10 list of richest Nigerian musicians and artists in 2020

Tochi Juliet
By Tochi Juliet

The Nigerian music industry is one of the fastest-growing industries in the country. It has produced amazing singers over the years. Here are the top 10 richest Nigerian musicians in 2020.

Top ten richest musicians in Nigeria 2020

The Nigerian music industry is one of the fastest-growing industries in the country. It has produced amazing singers over the years. Here are the top 10 richest musicians in Nigeria in 2020.

Nigerian musicians and artists rank among the richest musicians/artists in Africa and the world, with many of them winning lots of international awards and featuring in many countries.

Music has catapulted many Nigerian artists from the life of nothing to something, from grass to grace. Many of them who had nothing are now living luxurious lives due to their progress in the music industry.

Timaya, Wizkid, 2face, P-Square, and many others were poor from their roots, but today, thanks to their amazing careers in the music industry, they have gained fame worldwide.

Here are the top 10 list of the richest Nigerian musicians and artists currently making waves in the music industry.

1. Wizkid - Net worth of $20 Million

Wizkid is the number 1 in our list of the top 10 richest musicians & artists in Nigeria. Wizkid's net worth is estimated at 20 million U.S dollars.

Apart from singing, Wizkid also secured many endorsements deals with MTN Nigeria and GLO ( which paid him N120 million to become its ambassador).

Wizkid also increased his net worth when he secured multi-million deals with Pepsi and Guinness that brought him more money on the table.

In July 2019, the talented singer added more to his net worth after he confirmed a mega-deal signing for United Bank for Africa (UBA) as their brand ambassador.

Singer Ayodeji Ibrahim Balogun proudly known as Wizkid, is a singer and songwriter. Wizkid began his musical carrier at the age of 11 in a local church near his home. Back then, he joined a local band called the Glorious Five.

Wizkid released an album at the age of 11 in collaboration with the group Glorious Five.

Wizkid later met OJB Jezreel during his struggling days, and he became his mentor. He then started visiting Jezreel’s studio, watching and learning from the recordings by artists like 2 Face Idibia and Sound Sultan.

Wizkid then joined Empire Mates Entertainment (E.M.E) in 2009, and from there, his career in the music Industry kick-started.

Ayodeji Ibrahim Balogun known as Wizkid, is the richest Nigerian musician with the net worth of $20 Million

Born on the 16th of July, 1990, in Surulere, Lagos, Wizkid was the first Nigerian musician to rise to be recognised in the Guinness Book of World Record for the most played song Spotify.

This is as a result of the song he did with Drake titled “One Dance”.

He now owns Starboy Entertainment and has been waxing stronger in the music industry as the day goes by.

According to the 2020 Forbes list, Wizkid happens to be the richest Nigerian musician with a $20 Million networth.

Wizkid's car collections and houses

Wizkid has a ₦13 million mansion in Surulere, Lagos, and another one in Los Angeles. Wizkid's car collection includes:

  1. Lamborghini Urus (₦80 million)
  2. Porsche Panamera (~₦50.8 million)
  3. Used Mercedes Benz G63 AMG (₦55 million – ₦65 million)
  4. BMW X6 crossover (₦8.7 million)

2. Davido - Net worth of $19 Million

David Adeleke, popularly known as Davido, is the second richest musician and artist in Nigeria. Davido's net worth is estimated at 19 million U.S dollars.

Davido was born in Atlanta, United States of America, to the rich and wealthy Nigerian family of Dr Adedeji Adeleke, a co-founder of the Adeleke University in Osun state and the CEO of Pacific Holdings Limited.

Davido's net Worth is from music and endorsement projects such as the $78,296 MTN endorsement deal, Guinness Nigeria, and Infinix mobile.

Davido net worth and wealth is also affected positively by his YouTube channel, which has attracted over 663 million views since it was created.

Before ‘Dami Duro’, which announced Davido to the world, Davido released his first single, 'Back When’, featuring Naeto C, although the song didn't trend much.

On Oct. 30, 2011, Davido released ‘Dami Duro’. He co-produced the single with Shizzi, which Clarence shot in Lagos.

The song Dami Duro came with an amazing video in Jan. 2012, and it became the talk of the town with frequent airplay by the media.

David Adeleke is the second richest Nigerian musician in 2020 after Wizkid

Davido released his debut studio album on July 17, 2012, Omo Baba Olowo (Child of a Wealthy Person) under HKN Music Record Label. The song was equally a hit song as it gained him more fans.

Since then, he has released countless singles, which have brought him popularity, money and international recognition.

Davido was the OBO executive producer and worked with other producers like Jay Sleek, Spellz, Maleek Berry, and others. It featured popular musicians like Sina Rambo, Ice Prince, Kay Switch, B-Red, 2 Face and Naeto C.

Davido has two mansions in Lekki, Lagos, and a getaway mansion in Georgia, USA with Exotic cars

Davido's cars and houses

Davido has two mansions in Lekki, Lagos, and a getaway mansion in Georgia, USA. Davido's car collection is dazzling with:

  1. Rolls Royce Cullinan 2019 (~₦350 million) 
  2. Bentley Bentayga (₦108 million)
  3. Bentley Continental GT (~₦95 million)
  4. Porsche Panamera Turbo S (~₦22.8 million)
  5. Range Rover Sports (₦84 million - ₦90 million)
  6. Range Rover SV Autobiography (₦98 million)
  7. Chevrolet Camaro GS (₦9.4 million)
  8. Audi R8 (₦23.4 million)
  9. Audi Q7 (₦12 million)
  10. Mercedes-AMG GLS63 (~₦45 million)
  11. Mercedes G-Wagon (~₦21 million)
  12. Toyota Land Cruiser (~₦30 million) several cars like a Porsche, Range Rover Sport and Chevrolet Camaro

3. Don Jazzy – Net worth of $18.5 million

Collins Michael Ajereh, known as Don Jazzy in the music scene, is the third richest Nigerian Musician. Don Jazzy is from Umuahia in Abia State and was born on the 26th of November, 1982.

Don Jazzy's net worth is estimated to be over $18 million. Don Jazzy is both a music producer, entrepreneur and musician.

Don Jazzy is known for his wonderful music production. His hard work, incorporated with his persistent ability, easily make up sound business relationships for him both in Nigeria and across the border.

Don Jazzy started his music career working with D’banj to make various hit tracks as Mo'hits record before they went their separate ways in 2012. After which, he created the new record label Mavin Records.

Collins Michael Ajereh, who is known as Don Jazzy in the music scene, is the third richest Nigerian Musician.

Don Jazzy has effectively groomed and established several superstars like Wande Coal, D’Prince, Tiwa Savage, Reekado Banks and many more. 

Aside from singing and producing, he also has profitable contracts with companies like MTN and Loya Milk.

His career has brought him awards as a top music producer. Don Jazzy is not married despite his age; he focuses on making more good music and raising more stars in the Nigerian music industry.

Don Jazzy has 3 mansions, one at Lekki, one in Banana Island, Lagos, and another at Los Angeles and many exotic cars

Don Jazzy's houses and cars

Don Jazzy has 3 mansions, one at Lekki, one in Banana Island, Lagos, and another at Los Angeles, USA. He also rides exotic cars, including:

  1. Porsche 911 Carrera (~₦42 million)
  2. Bentley Continental (~₦25 million)
  3. Cadillac Escalade (~₦27.2 million)
  4. Used Mercedes Benz E350 (~₦20 million)

4. Burna Boy - Net worth of $17 million

Burna Boy, whose real name is Damini Ebunoluwa Ogulu, is a Nigerian singer, songwriter, rapper and dancer. Burnaboy is an indigene of Mbiama in Ahoda West LGA of Rivers State.

Burna Boy is the fourth richest Nigerian musician and artist in 2020; Burna Boy's net worth is $17 million.

Burna was born in Rivers, Port Harcourt, precisely before his parents relocated from Port Harcourt to Lagos. 

Burna Boy whose real name is Damini Ebunoluwa Ogulu is a Nigerian singer, songwriter, rapper and dancer.

His parents' relocation to Lagos was possibly the best move for Burna's music career, as the biggest names and best resources are domiciled in Lagos.

Burna boy became famous in the music industry in 2012, after he released his hit single ‘Like to Party’ from his debut album L.I.F.E. Although the album was debuted on the 13th of August 2013 by Aristokrat Records, five singles were released in 2012.

They sold 40,000 copies of L.I.F.E. on the first day of its release and sold its marketing rights to Uba Pacific for 10 million Naira. Leriq produced the album. Other artists featured in the collection are 2face, M.I, Reminisce, Wizkid, Timaya, and Olamide.

Burna boy left Aristokrat records in 2014, and in 2015 he established his record label named Spaceship Entertainment. He debuted his second album ‘On a Spaceship’ on the 25th of November 2015.

His music career has been a super success, with the young man making global waves and is currently Nigeria's hottest international music export.

Currently, he is a brand ambassador to Globacom, Nigerian Breweries Plc, and Mortell Cognac.

Burna Boy's as one of the Nigeian richest musicians has exotic cars and houses

Burna Boy's cars and houses

Burna Boy is an exotic car lover. According to the award-winning musician, he bought his first car at the age of 17. It was a Range Rover.

  • Lexus
  • Bentley
  • Mercedes-Benz G Wagon.
  • 2013 Ferrari 458 Italia
  • Rolls Royce Down Convertible

5. 2Baba (2Face) – Net Worth of $16 million

2Face was born on the 18th of September 1975 in Jos. His real name is Innocent Ujah Idibia. 2Face is an indigene of Benue State even though he was born in Jos, Plateau State.

2Face is the 5th richest Musician in Nigeria, with a net worth of $16 million.

2Face 2Baba rose from nothing to something and then became one of the best Afropop singers in Africa.

2face started with a group called Plantashun Boiz and, after a while, went solo. His music career has continued to flourish continuously.

Tu face was a top signing for Kennis Music early in his career, with whom he released the first album 'African Queen'.

The release of the album ‘African Queen’ brought him to the limelight in 2004, and since then, he has remained on top of his game as every of his song is a major hit.

2face has won himself awards like the Headies, MTV Music Awards, and BET Awards.

Innocent Ujah Idibia (2baba) born on the 18th of September is an indigene of Benue State one of the Nigerian musicians who rose from nothing to something in the music industry

Tuface's luxurious apartment and cars

2face has acquired quite a good amount of luxury, ranging from cars to mansions, but he likes to keep his life very private.

Tuface owns 2 mansions in Lagos and relaxation lounges at Lagos Island, Festac, Ikeja, and a luxurious apartment in the US.

Asides his cars, he also has a multi-million naira mansion in Lagos, Benue and a luxurious apartment in the US.

2baba is not very open about his collection of cars, but here are the cars that were caught ridden by 2Face:

  • Chevrolet Corvette Coupe (~₦45million)
  • Ferrari Coupe (₦57 million - ₦80 million)
  • Used Toyota Land Cruiser Prado (₦30 million – ₦52 million)

6. Olamide – Net Worth of $12 million

Olamide Adedeji, who maintained his first name Olamide on stage but is also called Baddo due to his street music's nature, was born on March 15th, 1989, in Bariga, Lagos State.

Are you wondering about Olamide net worth? Olamide's net worth is estimated to be $12 million - making him the 6th richest musician in Nigeria.

Olamide is well known to sing mostly in his native language Yoruba, and this has gained him many fan base and followership across western Nigeria, especially Lagos.

Olamide, who now has an estimated net worth of $12 million, commenced his journey into the music world with the Coded Tunes label but currently puts a lot of effort to raise a few other artists through his YBNL record label.

Olamide Adedeji  born on March 15th, 1989, in Bariga, Lagos State, one of the richest Nigerian musicians

Olamide's career blossomed in 2010 when he released his single 'Eni Duro' and in 2011 his album Rapsodi. The successful album was followed by the second album YBNL, which featured a few hit singles that made Olamide popular in no time.

Today, he has seven studio albums.

He has bagged so many awards in the Nigerian music industry as Best Indigenous Artist, Album of the year, and many others and many nominations.

Olamide's houses and cars

Being the 6th richest musician in Nigeria has an estimated net worth of $12 million. Olamide owns 2 mansions in Lekki and Bariga, Lagos and a flashy garage with pricey cars including:

  • Mercedes-Benz G Wagon (~₦23 million)
  • Range Rover Sports V8 (₦84 million - ₦90 million)
  • Used Rolls-Royce Phantom (~₦204 million)

7. Phyno – Net Worth of $11 million

The music star Chibuzo Nelson Azubuike aka Phyno was born on the 9th of October 1986.

He reportedly coined his stage name Phyno from the word “Phenomenal, " highlighting his own taste and music brand.

Phyno's net worth is estimated to be $12 million - making him the 7th richest musician in Nigeria.

Phyno is a man with different talents that extends even to the academic world. His education level with a degree in Public Admin is enough to get you thinking that he should not have become a musician, but here he is, a very successful musician.

Undoubtedly, deciding to make music was a good move by Phyno as this has thrown him into the spotlight.

Phyno is a man with different talents and one of the top ten richest musicians in Nigeria

Phyno hails from Anambra State. He is from a family of five; he is the fourth child with one brother and three elder sisters.

He was raised in Enugu State, where he completed his schooling and started his music career.

Phyno wanted to be a pilot or a doctor. He played drums and piano, and at the same time, could create his rendition of every recording he heard.

Fortunately, he had chosen to become a musician, and it was the right choice that brought him $11 million.

The singer started his career in 2003 and even moved to Lagos for his careers. He has also acted as a producer for such well-known stars as Flavour, Timaya, Mr Raw and several others.

He is a very close friend of Olamide Baddo, as they both carry the pride of their local identities being the Igbo and Yoruba languages, respectively.

Phyno has got about five proper awards like the best collabo, song of the year awards, and others amidst many nominations in different musical categories.

Being one of the richest musicians in Nigeria, Phyno owns many extravagant assets such as houses and exotic cars

Phyno's Cars and Houses

Being one of the richest musicians in Nigeria, Phyno owns many extravagant assets such as a 3 bedroom duplex worth about N170 million at Chevy View Estate, Chevron Drive in Lekki another mansion at Enugu State.

He also owns expensive cars, including a Rolls Royce Phantom:

  • Rolls-Royce Phantom (~₦204m)
  • Lamborghini Gallardo Spyder (₦74.6 million - ₦117.9 million)
  • Polaris Slingshot (~₦7.3 million)
  • Bentley GT Coupe (~₦72.7 million)
  • Range Rover Sports (₦84 million - ₦90 million)
  • Toyota Avalon (~₦11 million)

8. Timaya – Net Worth of $10.5 million

"The plantain boy", as Timaya always calls himself, was born on the 15th of August, 1980.

His official name is Initime Alfred Odom. He started a music group called ‘Dem Mama Soldiers’, which he used as a platform to set off on his musical career.

Timaya's net worth is estimated to be $12 million - making him the 8th richest musician in Nigeria.

The King of Dancehall in Nigeria began his music career from the lower ranks and even was a backup singer for some musicians before going solo with K Solo's help.

His music career saw the release of his first song professionally in 2005, titled “True Story”, after which subsequent ones surfaced, like “Gift and Grace” released in 2008 as well as De Rebirth. Timaya rose to international recognition and prominence after his third album 'Rebirth'.

He now owns the DM record label, which he signed King Perry. This was after the likes of Patoranking and Runtown had been groomed to shine.

Timaya the number seven among the top ten richest musicians lives a comfortable life as he has a mansion worth ₦250 million at Lekki, Lagos State and many exotics cars

Timaya's houses and cars

Timaya has a mansion worth ₦250 million at Lekki, Lagos State. Timaya owns 3 Mercedes G-Wagon cars in different colours.

Besides the Benzs, Timaya's car collection is enviable with other expensive rides; see below:

  • Porsche 911 Carrera (~₦42 million)
  • 2 Range Rover Sports (₦84 million - ₦90 million)
  • Mercedes-Benz G55 AMG (₦60 million - ₦85 million)
  • Mercedes-Benz GLE (₦20 million - ₦22 million)
  • Bentley Continental GT (~₦76 million)
  • Lexus LX570 2015 (₦29,000,000 - ₦39,000,000)
  • Used Lexus GX 460 (₦25 million - ₦42 million)

9. Peter Okoye and Paul Okoye – Net Worth of $10 million each

Peter and Paul Okoye, the twin music artists, became stars from standing together to form the P-Square identity.

They were born in November 1981; in Jos, Plateau State, they successfully built their music career until they parted ways due to misunderstanding.

Paul Okoye now has a solo career just like his brother Peter and is known under the stage name Rudeboy. Peter is building a career on his own too.

As he is popularly known, Peter or Mr P had made ambassadorship deals with companies like Kia Motors and Olympic Milk. 

Peter Okoye known with his stage name Mr P flaunts his exotic cars and houses in Lagos state

Mr P's Cars and Mansion

Mr P has a mansion in Lagos, Nigeria, and another one in Atlanta, USA. He is also a real car collector. He owns exquisite cars that are not inferior to any celebrity, including:

  • 2 Range Rovers (₦50 million - ₦82 million)
  • BMW X6 (₦23.5 million - ₦28 million)
  • Dodge Challenger (₦10.8 million - ₦22 million)
  • Porsche 718 Cayman (~ ₦22 million)
  • Mercedes AMG GL63 (~₦45 million)
  • Bentley Mulsanne (~₦125 million)
  • Jeep Wrangler (~ ₦12.6 million)

Paul Okoye popurlarly known as Rude Boy poses with his cars

Paul Okoye (Rudeboy)'s Cars and Mansion

Paul Okoye, currently known as RudeBoy, has houses in Nigeria and outside the country, and none of the houses is less than mansions.

His collections of cars include Rolls-Royce Phantom (~₦204 million)

  • Rolls Royce Ghost (₦191 million - ₦247 million)
  • Land Rover Range Rover (₦50 million - ₦82 million)
  • Lamborghini Gallardo (₦74.6 million - ₦117.9 million)

10. Flavour - Net Worth of $9.5 million

Chinedu Okoli, popularly known as Flavour, was born on the 23rd of November 1983 in Enugu State. He is from Orumba South Local Government Area in Umunze, Anambra state.

Flavour's net worth is estimated to be $12 million - making him the 10th richest musician in Nigeria.

Music for Flavour started at the age of 13. He started as a young boy who loves to drum and became the drummer for his church choir.

His professional drum career started in 1999 after he studied music due to an invitation to join the professional music company on the grounds of scholarship.

Chinedu Okoli, popularly known as Flavour, born on the 23rd of November 1983 in Enugu state hails from Orumba South Local Government Area in Umunze, Anambra state, Flavour is the tenth richest Nigerian musician

In his first album, 'Nabania', which brought him to the limelight, Flavour collaborated with Mr Raw.

Flavour has received lots of awards for different categories such as the 2014 Channel O Music Video Awards, Most Gifted Afro Pop “Ada Ada” Nominated

  • 2014 Nigeria Entertainment Awards Indigenous Artist of the Year Nominated
  • He also won Best Traditional Artist -Best Video of the Year “Ada Ada” – Won
  • City People Entertainment Awards Musician Of The Year (Male) Nominated
  • Best Collabo of the Year “Oh! Baby (You & I)”(Chidinma featuring Flavour N’abania) Nominated
  • Video of the Year “Ada Ada” – MTV Africa Music Awards 2014 – Best Live Act

Flavour has a great sense of car choices, here are his exotic cars

When one talks about celebrities known for exotic lifestyles, Flavour can not be exempted from this subject matter. Flavour has a great sense of car choices. His car collections include:

Flavour's Cars

  • Lexus LX 570
  • Black Mercedes Benz G-wagon (40 million)
  • Land Rover (N25 million)
  • BMW X6 (18 million)