Top 10 Richest Nigerian Musicians 2022 – Forbes List
Have you been wondering who the Richest Nigerian Musician is or who the top 10 richest Nigerian musicians in Nigeria are? Well, wonder no more as Kamer Connect has got you covered.
In this article, we will be telling you who the richest musician in Nigeria is and the top 10 richest musicians in Nigeria.
It is always difficult coming up with a list of the Richest Nigerian musicians yearly as calculating their network is sure not an easy task. There are several factors to consider and they are into other businesses they are involved in as well. However, there is always a platform that manages just well to do that every single year and that is Forbes.
So this is the list of the top 10 Richest Nigerian Musicians in 2022.
- Timaya – $10 million
Inetimi Timaya Odon, better known by his stage name Timaya, is a Nigerian singer and songwriter. He was born on 15 August 1980 and hails from Odi, Bayelsa state.
According to Forbes, Timaya is worth $10 million.
He is the founder of DM Records Limited. Timaya began his solo career in 2005 with the release of “Dem Mama”, which also appeared on his debut album. He went on to release True Story the following year. His second album Gift and Grace was released in 2008.
Timaya created his own record label, DM Records Limited, and groomed artists like Patoranking and Runtown.
In 2011, Timaya was appointed a Peace Ambassador by the Inter Religious and International Federation for World Peace
- Phyno – $10 million
Chibuzor Nelson Azubuike), better known as Phyno Fino, is a Nigerian rapper, singer, songwriter, and record producer. He was born on 9 October 1986.
Forbes estimates that Phyno is worth $10 million.
Phyno who is renowned for rapping in his native Igbo language started his music career as a producer in 2003. He released his debut studio album No Guts No Glory in 2014.
- D’banj – Over 10 million
“He face show, he shoe shine, he teeth show and he money come plenty well well.”
Oladapo Daniel Oyebanjo, better known by his stage name D’banj, is a Nigerian singer, rapper, businessman, and the founder of Mo’ Hits Records with producer Don Jazzy. He was born on 9 June 1980.
D’banj was one of the main judges of Nigerian idol season 7. Forbes estimates his net worth to stand at over $10 million.
Aside from music, D’Banj has also ventured into information technology, particularly in the areas of value-added services and Content digital distribution. He is the owner of digital companies MCOMM Ltd (Median Mobile Communications Limited, A Value Added Service Content Provider) and D’ Kings Men Media Limited (a 360 Media Company).
He also partnered with MTN Nigeria in 2016 to launch THE CREAM PLATFORM.
- Olamide – $12 million
Olamide Gbenga Adedeji known professionally as Olamide (and also Olamide Baddo, BaddoSneh or simply Baddo) is a Nigerian rapper and singer. He was born on 15 March 1989 and is one of the biggest and most influential artists in Africa. He records in Yoruba and English.
The rapper is also the founder of the YBNL Nation record label.
Forbes estimates Olamide’s networth to stand at $12 million.
lamide started his career when he released the debut single, “Eni Duro,” in 2010. He has so far released several albums, EPs and singles.
He is also the brand ambassador of several Nigerian brands.
- P Square – $16 million
On the sixth spot, we have the Okoye brothers; Paul and Peter Okoye. We can in fact consider them two of the some of the biggest legends of the industry. They were both born in Jos on November 18, 1981.
They have been doing music for decades together though they decided to go their separate ways a few years ago. Peter now goes by the name Mr. P while Paul now goes by the name Rude Boy.
Forbes estimates that the two brothers are worth $16 million.
It is not surprising that the two brothers are on the list of top 10 richest musicians in Nigeria, considering that they have been in the industry for quite a long while and have released some of the biggest hits of all time.
- 2Baba – $16 million
Before he changed his artistic name to 2Baba just a few years ago, of course, we all knew him as 2Face.
However, his real name is Innocent Ujah Idibia. He was born on 18 September 1975 and he is an influential musician, singer, songwriter, record producer and entrepreneur.
He was formerly part of “Plantashun Boiz” but they later parted ways and he signed to the Kennis Music Record Label.
Forbes estimates 2Baba net worth to stand at $16 million.
Aside from making money from music, 2Baba also makes money from performing in concerts in Nigeria and beyond.
He also makes money from several endorsement deals.
In 2016, he became the first African ambassador of Italian alcoholic liqueur Campari. As early as 2005, he was named as an ambassador of Guinness beer. He is also the brand ambassador for National Agency for Food and Drug Andministration and Control, signed an endorsement deal with Airtel Nigeria, Globacom telecommunication in May 2019, brand ambassador of Pazino Homes and Gardens, a real estate firm and more.
- Burna Boy – $17 million.
Fourth on this list of Top 10 richest Nigerian musicians is the man who considers himself the African giant; Burna Boy.
Damini Ebunoluwa Ogulu, known professionally as Burna Boy, is a Nigerian singer, Songwriter, and Performing artist who was born on 2 July 1991.
He rose to fame in 2012 after releasing “Like to Party”, the lead single from his debut studio album L.I.F.E (2013)
Forbes estimates his net worth to stand at $17 million.
His main source of income is his music. The Grammy Award-winning singer sold Up to 40,000 copies of L.I.F.E. on the first day of its release. He also sold L.I.F.E marketing rights to Uba Pacific for 10 million Naira.
And did you know he owns his own record label like most Nigerian top musicians? In February 2015, he founded the record label Spaceship Entertainment. Interestingly, this was just eight months after he parted ways with Aristocrat Records.
- Don Jazzy – $18 million
He was in fact the richest musician in Nigeria just a few years ago.
Collins Michael Ajereh, known professionally as Don Jazzy is the third on this list and Forbes estimates his net worth to stand at over $18 million.
He was born on November 26, 1982 and hails from Abia State in Nigeria.
It’s no surprise that Forbes estimates his net worth at over 18 million as he does not only make his money from music but is also a music producer, boss of one of the biggest music houses in Africa; Mavins Records Label and an Entrepreneur.
He is also the brand ambassador of several Nigerian brands like V-milk, MTN V Bank and Loya milk. He has influenced, mentored, and supported several upcoming musicians and comedians both in Nigeria and out of Nigeria by promoting or collaborating with them.
- Davido – $19 million.
Davido is the second richest musician in 2022. Forbes estimates his net worth to be $19 million.
David Adedeji Adeleke popularly known as Davido and sometimes OBO is an American-Nigerian singer, songwriter, and record producer. He was born on November 21, 1992 in Atlanta, Gorgia, United States of America (USA).
It is definitely not surprising that Davido is not just one of the richest Nigerian musicians but in fact one of the top two. It would have rather been surprising if he was not in the top 2 or top 3. That is because he makes a lot of money from his various endorsements with top brands like Guinness Nigeria, Infinix mobile, Pepsi, MTN Nigeria, and more.
His social media following especially on Instagram, Facebook, TikTok, and YouTube are also sources of income for Davido. He is one of the most followed African celebrities on Instagram and his YouTube has so far amassed close to 700 million views. That is sure a great income stream.
He also performs in several international shows and local concerts where he makes millions of naira.
The Richest Nigerian musician according to Forbes is Wizkid. He is worth $16.4 Million.
His real name is Ayodeji Ibrahim Balogun but he is known professionally as Wizkid and at times Starboy. The Nigerian singer and songwriter was born on 16 July 1990.
His main sources of wealth is definitely music and in July 2019, he added to his net worth after signing a multi-million naira deal with the United Bank for Africa (UBA) as their brand ambassador.
Wizkid is not just the richest musician in Nigeria, he is also one of the most successful, most loved and most followed musicians in Nigeria.
He has been very consistent with his art as well, for someone who has been in the music industry for 13 years. His songs still top Billboard’s top 100 Hot music and he won the award for Best Music Video at the 63rd Annual Grammy Awards in 2021 as a lead artist on Beyoncé’s “Brown Skin Girl”.