Davido net worth 2024: sources of income, and endorsements

Davido is a Nigerian artist popularly known as "OBO the Baddest." Davido's net worth is about $40 million as of 2023, making him Nigeria's third-richest musician and one of Africa's wealthiest artists.

Davido is one of the most well-known musicians in Nigeria, along with Wizkid and other artists, so it's not surprising that he has a high net worth. He has won lots of music awards and endorsements. All these factors, including the fact that he comes from an influential background, contribute to Davido's high net worth.

This article will delve deeply into discussing Davido's net worth and how he makes his money, including his endorsement deals, performances, and shows. The article will also shed some light on Davido's lifestyle and what he spends his money on.

Davido had an estimated net worth of $16 million in 2019. But, his talent and hard work paid off, as his net worth increased to $25 million in 2020, $27.6 million in 2023, and a now over $40 million in 2024.

Aside from coming from a wealthy family, Davido is a hustler who wishes to make his own money and name and not depend solely on his father's wealth.

Many wonder about the source of Davido's wealth, while some link his wealth and fame to his father. However, Davido has strived to make himself rich, as he has been known to have bagged many endorsement deals.

Forbes listed Davido as one of the African artists who produces and releases songs that top different charts.

Davido has also landed many endorsement deals, working with many high-profile brands, including MTN and Guinness Nigeria.

Davido endorsement deals

Davido is a brand ambassador for several multi-million-dollar companies such as AXE, Travelbeta, Pepsi, MTN, etc.

Aside from his ambassadorship, Davido is reaping the fruit of his relentless labour in the studio, as many multi-million-dollar companies are ready to sign endorsement deals with him.

On April 6, 2012, Davido signed an endorsement deal worth N30 million with MTN, the largest mobile network in Africa.

Later, Davido was shown to be the face of MTN Pulse, a marketing campaign in Nigeria for young people.

On October 24, 2013, the Guinness company endorsed Davido, who performed in the "World of More Concert" alongside other top Nigerian music artists like Olamide, Wizkid, Tiwa Savage, D'banj, and many more.

On May 9, 2018, he announced an endorsement deal with Infinix Mobile, a Hong Kong-based smartphone manufacturer.

Davido landed another deal with Bay Ice in 2023, which gave birth to the Bay Ice 001 Automatic Skeleton Watch Collection, selling between ₦2.5m to ₦20m.

Other sources of Davido's income

Davido's primary source of income is from music; he charges enormous amounts for his performances and shows. It has helped increase his net worth.

For local shows, Davido charges between N10 million and N40 million, while for performances abroad, he earns between $100 and $200,000, a considerable amount to increase his net worth.

Davido, as a famous musician, attends more than 40 shows annually. When you multiply the number of shows mentioned by the cash figure he collects, Davido's hard work equates to his net worth.

Davido garners over 663 million views on his videos on his YouTube page, a platform that has increased his income and net worth.

Davido founded his music label, DMW, in 2016, shortly after signing up with Sony Music, and it became another source of income. His first major signing in DMW was Mayorkun.

In the DMW, even though he is making money and increasing his net worth, Davido has helped raise many talented musicians in Africa.

Davido, while speaking about DMW, said, "People fail to understand you can't be on top forever; having these artists helps me stay afloat and be current with new stuff."

To be clear, Davido is a young musician whose high net worth is due to his unrelenting hard work in the music industry. While Davido's father is rich and influential, it would be wrong to solely attribute his high net worth to his father's wealth.

Davido's background and rise to fame

Davido's real name is David Adeleke. Davido is the son of a famous Nigerian billionaire, Dr. Adedeji Adeleke, one of Nigeria's richest men with a massive net worth.

Davido's success in the music business has led to a steady rise in his net worth.

Davido began his journey into the music industry at an early age, but in 2011, Davido became a solid public figure in the music industry. Davido went viral after he released the song "Dami Duro."

Davido co-produced the single Dami Duro with Shizzi, which Clarence shot in Lagos. The song Dami Duro came with a fantastic video in January 2012.

Dami Duro became the talk of the town with frequent airplay on different media platforms.

In 2011, when he released "Dami Duro," which was a hit, he made his way straight into the music industry. Dami Duro's song raised his net worth to a high level.

Currently, Davido is one of the richest Nigerian musicians with a vast net worth due to his efforts in the music industry and the release of much music.

Davido's lifestyle

Davido, with a net worth of over $25 million, is known for his luxurious and expensive lifestyle. He constantly boasts of his flashy and costly belongings.

Davido, on his Instagram handles, once shared a picture of his family's private jet on social media, which attracted many reactions from both fans and haters.

He equally wrote on Twitter, "Bought already." "It's not soap; it's hard work and ambition!" Many congratulated him, while some termed it a show of arrogance.

Due to his huge net worth, Davido lives his luxury life to the fullest; he once bought Rolex watches for his two daughters at a cost of 30 million naira each ($80,000), bringing the total to 60 million naira.

He equally flaunted the Rolex watch he bought for his PA, Santusgee, in Dubai. Santusgee didn't waste time announcing it on Instagram. He wrote on Instagram, "The pandemic couldn't stop me! ROLLY GANG! #30BG4LThanks@davido!"

Because Davido lives an expensive lifestyle and frequently flaunts his wealth, some people argue that his net worth exceeds $25 million.