Table of contents
1. Davido (Net Worth: ₦160 Billion)
2. Wizkid (Net Worth: ₦80 Billion)
3. Don Jazzy (Net Worth: ₦51 Billion)
4. 2Baba (Net Worth: ₦43 Billion)
5. Burna Boy (Net Worth: ₦35 Billion)
6. Olamide (Net Worth: ₦32 Billion)
7. D’banj (Net Worth: ₦25 Billion)
8. Timaya (Net Worth: ₦22 Billion)
Nigeria’s music industry is not just rich in talent, it’s also rich in literal cash. From sold-out global tours and multimillion-dollar endorsement deals to real estate, tech startups and fashion lines, these top Nigerian musicians have turned their musical fame into serious wealth. Here’s a breakdown of the top 10 richest musicians in Nigeria in 2025, how they make their money, and the power moves behind their massive fortune.
1. Davido — Richest Musician in Nigeria with a Net Worth of $40 – 100 Million (₦160 Billion)
Depending on who you ask, you’ll find out Davido is the richest musician in Nigeria. His net worth is estimated between $40 million and $100 million. That massive gap says one thing: he’s rich-rich.
How He Became One of the Richest Musicians in Nigeria:
Davido started his music career in 2011 and exploded with hits like Dami Duro and If. Over the years, he has built his wealth from sold-out concerts, streaming royalties, and high-paying endorsement deals with brands like Pepsi, Infinix, and Martell. But his biggest shift came when he moved from brand endorsements to equity deals, owning part of the brands he promotes.
Standout Money Moves:
In 2022, Davido joined Martell Cognac not just as a brand ambassador, but as a strategic partner: a deal that secured him equity stakes. In 2024, he revealed earning $1.3 million from his sold-out concert at the 19,000-capacity Madison Square Garden in New York, the United States.
Major Income Streams
- Music: A hitmaker with billions of streams, global tours, and five monster albums. He reportedly made over $600K per show on his 2023 Timeless Tour.
- Endorsements: Pepsi, MTN, Infinix, Puma, Martell, and more.
- Business: Co-owns DMW (Davido Music Worldwide) record label. Also dabbles in crypto, NFTs, and angel investing.
- Old Money: Let’s not lie. He comes from wealth, which helped him go further and become one of the richest musicians in Nigeria faster.
2. Wizkid — Estimated Net Worth: $50 Million (₦80 Billion)
Wizkid sits comfortably at around $50 million, making him one of the richest musicians in Nigeria and the silent billionaire of Afrobeat.
How He Became One of the Richest Musicians in Nigeria:
Wizkid became a global star after his 2010 breakout single, “Holla at Your Boy.” He gained even more traction with Ojuelegba and the Drake-assisted One Dance. He’s since earned millions from streaming, international tours, and brand partnerships with Tecno, Puma, and UBA.
Standout Money Moves:
Wizkid is among the richest musicians in Nigeria, with multiple income streams beyond music. In 2022, Wizkid signed a multi-billion naira deal with Puma to become the face of their Suede Classics campaign. He’s also one of the few African acts to sell out the O2 Arena three times.
Major Income Streams
- Music: Multiple albums, Grammy awards, and consistent international streaming.
- Endorsements: Glo, Pepsi, Dolce & Gabbana, Cîroc.
- Tours: Made millions from his Made In Lagos tour across Europe and North America.
- Starboy Inc.: His record label (Starboy Entertainment) and personal brand.
3. Don Jazzy — Estimated Net Worth: $32 Million (₦51 Billion)
Don Jazzy’s net worth is $32 million. He became one of Nigeria’s richest musicians without going on tour, earning from music production, Mavin Records, and business deals.
How He Became One of the Richest Musicians in Nigeria:
Don Jazzy is the brain behind Mo’Hits and later Mavin Records. While he doesn’t perform like his peers, he became one of the top 10 richest musicians in Nigeria by producing some of Nigeria’s biggest hits, launching top stars like Rema and Ayra Starr, and striking deals with global labels like Universal Music Group. He is also a venture capitalist and has a stake in Flobyt WiFi and other tech startups.
Standout Money Moves:
Don Jazzy built Mavin into a talent factory, then in 2019, he signed a multi-million-dollar investment deal with Kupanda Holdings to expand Mavin into a global music powerhouse.
Major Income Streams
- Mavin Records: One of the most profitable and influential labels in Africa.
- Talent Development: Signed and produced for Rema, Ayra Starr, Johnny Drille, Tiwa Savage, etc.
- Tech and Business: Investor in multiple tech startups, including crypto and NFTs.
- Brand Deals: Samsung, Betway, Loya Milk, and more.
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4. 2Baba — Estimated Net Worth: $15 – $27 Million (₦43 Billion)
2Baba is an icon with a net worth between $15M and $27M, depending on how many royalties came in this quarter.
How He Became One of the Richest Musicians in Nigeria:
2Baba made his mark with timeless hits like African Queen and has remained relevant for over two decades. He earns from back catalogue royalties, shows, and endorsements with Guinness, Campari, and Airtel. He also runs nightclubs and other businesses, securing his spot as one of the richest musicians in Nigeria.
Standout Money Moves:
Long-term licensing deals for his early catalogue continue to generate millions in passive income: regular royalties from global platforms for African Queen and other hits.
Major Income Streams
- Music: Evergreen catalogue still performs across Africa.
- Endorsements: Airtel, Oraimo, Campari, Guinness.
- Business: Owns the Rumours nightclub franchise, invests in real estate.
- Speaking & Advocacy: Paid appearances and campaigns.
5. Burna Boy — Estimated Net Worth: $22 Million (₦35 Billion)
With an estimated net worth of $22 million, Burna Boy is one of the richest musicians in Nigeria. He is living proof that Grammy wins come with global-level money.
How He Became One of the Richest Musicians in Nigeria:
Burna Boy’s global rise began with Ye in 2018 and exploded after winning the Grammy for Twice As Tall. He makes money from international shows, royalties, and merch. His deals with brands like Star Lager and Chipper Cash also add to his wealth, securing his spot among the richest musicians in Nigeria.
Standout Money Moves:
In 2023, Burna Boy sold out London Stadium (80,000 seats), reportedly earning over $10 million from one show. He earned over $1 million from his sold-out Madison Square Garden concert, becoming the first African artist to headline and sell out Madison Square Garden in 2022.
Major Income Streams
- Music: International tours, streaming millions, and festival headliner fees.
- Endorsements: Star Lager, Chipper Cash, and Glo.
- Merch and Fashion: Burna Boy-branded merchandise, limited drops and luxury collabs.
- Appearance Fees: NBA All-Star Game, UEFA Finals, etc.
6. Olamide — Estimated Net Worth: $15 – $20 Million (₦32 Billion)
Between his own hits and the stars he’s groomed, Olamide’s net worth is quietly touching $20 million, placing him among the richest musicians in Nigeria.
How He Became One of the Richest Musicians in Nigeria:
Olamide built his empire from the ground up, rapping in Yoruba and connecting deeply with street audiences. He’s earned millions from album sales, concerts, and brand deals with companies like Glo and Ciroc. His label YBNL has also signed and profited from breakout stars like Fireboy DML and Asake.
Standout Money Moves:
In 2020, YBNL signed a joint venture deal with EMPIRE, giving Olamide international distribution and millions in backend royalties.
Major Income Streams
- Music: 10+ albums, hundreds of local shows, and digital royalties.
- Label: YBNL Nation (home to Asake, Fireboy, and more).
- Brand Deals: Goldberg, Cîroc, Etisalat.
- Streaming & Publishing: Earnings from both his music and artists’.
ALSO READ: The 40 Greatest Olamide Songs of All Time, Ranked By Fans
7. D’banj — Estimated Net Worth: $16 Million (₦25 Billion)
At ~$16 million, D’Banj proves that one viral hit can set you up for life, if you play it right.
How He Became One of the Richest Musicians in Nigeria:
D’banj rose to fame with Tongolo and became an international figure with Oliver Twist. After leaving Mo’Hits, he focused on entrepreneurship, including tech (CREAM Platform), agriculture, branding deals with Beats by Dre, Heritage Bank, and more, putting him among the top 10 musicians in Nigeria.
Standout Money Moves:
In 2016, D’banj launched his Music-Tech startup for talent discovery, the CREAM platform, which was valued at over $100 million. The startup also secured a partnership with MTN in 2025. In the early 2010s, he landed a G.O.O.D Music deal with Kanye and pioneered celebrity endorsement culture in Nigeria.
Major Income Streams
- Music: Oliver Twist, Fall in Love, and other classics.
- Endorsements: Power Fist, Bank of Industry, Heritage Bank, MTN, SLOT, Globacom.
- Entrepreneurship: Former co-owner of Koko Garri and founder of a MusicTech startup for talent discovery: CREAM Platform.
- Brand: The Koko Master persona is a business on its own.
8. Timaya — Estimated Net Worth: $14 Million (₦22 Billion)
With ~ $14 million to his name, Timaya quietly stays in his lane and in his money.
How He Became One of the Richest Musicians in Nigeria:
Timaya built a solid fan base from his early Dem Mama days and became one of Nigeria’s top dancehall acts. He earns from performances, digital sales, and deals with Hennessy and Glo. He also invested early in real estate, positioning him as one of the richest musicians in Nigeria.
Standout Money Moves:
Timaya’s early investment in Lekki real estate, now worth several billions, continues to pay off. Rarely releases music now, but still makes bank.
Major Income Streams
- Music: One of the most consistent hitmakers of the 2010s.
- Label: DM Records
- Live Shows: Remains a big draw in diaspora concerts.
- Endorsements: Glo, Hennessy.
- Lifestyle Branding: Custom jewellery, luxury homes.
9. Mr P (Peter Okoye) — Estimated Net Worth: $11 Million (₦17 Billion)
Since the P-Square split, Mr P has maintained his position as one of the richest musicians in Nigeria with a ~$11 million net worth.
How He Became One of the Richest Musicians in Nigeria:
As one-half of P-Square, Mr P made his initial fortune from the group’s blockbuster tours and album sales. As a solo artist, he now earns from music, fitness business (Zoom Lifestyle), and endorsement deals with Olympic Milk and Kia Motors.
Standout Money Moves:
The P-Square reunion tour in 2022 reportedly grossed over $5 million globally.
Major Income Streams
- Music: Solo career, royalties from P-Square catalogue.
- Dance & Fitness: Owns the Zoom Up platform for fitness and dance.
- Endorsements: Olympic Milk, KIA Motors.
- YouTube Revenue: P-Square still racks up streams.
10. Tiwa Savage — Richest Female Musician in Nigeria With a Net Worth of $10 Million (₦16 Billion)
Tiwa is the only woman on this list with a net worth close to $10 million.
How She Became One of the Richest Musicians in Nigeria:
Tiwa Savage is one of Africa’s most influential female pop stars and among the richest musicians in Nigeria. She earns from concerts, streaming revenue, and global deals with brands like Pepsi, Maggi, and Tecno. Her UMG contract also earns her foreign-currency royalties.
Standout Money Moves:
In 2019, Tiwa signed a global recording deal with Universal Music Group, giving her access to the international market. In 2023, she played at King Charles’ coronation in London; an Afrobeat diplomatic flex, and owns her masters from many early songs.
Major Income Streams
- Music: Strong discography, international features, consistent tours.
- Endorsements: Pepsi, Maggi, Tecno, Twisco, MTN.
- Fashion & Film: Brand collabs and a growing Netflix presence.
- Publishing: One of the few Nigerian women signed to Roc Nation.
What Nigeria’s Richest Musicians Reveal About Music Money
The richest Nigerian musicians’ money moves highlight the new rules of building wealth through creativity:
- Ownership Is Everything: Nearly every artist on this list runs their own record label or entertainment company. In today’s industry, control over rights, royalties, and distribution is the cornerstone of long-term wealth.
- Global Reach, Local Relevance: The richest musicians have cracked a crucial formula, growing international audiences without losing their Nigerian fan base. It’s not global or local; it’s both.
- Multiple income streams are non-negotiable: Music money is just the gateway, but real wealth comes from diversifying into other ventures, such as fashion, liquor, tech, etc.
- Real Estate Reigns: From Lagos to London, property remains a top choice for investment. It reflects cultural values around land ownership and a desire for stable, long-term assets in a volatile economy.
- Wealth Is Coming Faster: New-generation stars like Burna Boy hit major wealth milestones earlier than their predecessors, suggesting a maturing industry with better structures, contracts, and business practices.
Bottom Line
Whether dropping hit songs, touring the world, or cashing out from endorsements and businesses, the top 10 richest musicians in Nigeria have turned fame into a serious fortune. The lesson? Talent is incredible, but knowing how to monetise it makes you rich-rich.
And these musicians aren’t just making bank, they’re shaping culture, building empires, and rewriting the rules of African wealth. Whether through smart investments, global partnerships, or owning their art, Nigeria’s top musicians are proving that music isn’t just entertainment, it’s serious business.
Editor’s Note: This article uses multiple sources to estimate wealth figures, recognising that net worth calculations involve some degree of speculation. Figures should be understood as informed estimates rather than definitive statements.
