Asake net worth is estimated at $1.2 million. He owns a house in Lagos State and among the cars he drives are a Range Rover Velar and Lamborghini. He made his money primarily from his extensive career as a musician, with some of his best hits including “Sungba” and “Lady”.
Asake’s name is not new in the Nigerian music industry. He is one of the fastest-rising musicians in the country whose songs have continued to hit various charts. With singles like “Omo Ope”, “Sungba” and “Mr Money”, the 28-year-old Afropop singer is fast becoming one of the richest musicians in Nigeria. Here are facts to know about how Asake grew his net worth.
What is Asake’s Net Worth?
Asake’s net worth is estimated at $1.2 Million which is roughly 557 million Nigerian Naira. He accumulated his wealth mostly from his fast-growing career as a musician. Asake whose real name is Ahmed Ololade began his musical career in 2020, writing songs and releasing them to the listening ears of his few friends and fans at the Obafemi Awolowo University where he was studying for a degree in dramatic arts.
At the University, he was known as ‘Medoo’ and he released a song titled JOO HAA under that stage name. The 28-year-old ‘Mr Money With The Vibe’ crooner had early exposure to music from his parents who were lovers of classical music.
However, as he grew older, he became more inclined to dance and only added singing to his career because dancing couldn’t fetch him enough money. Taking a bold step to shun dancing for singing, Asake released “Mr Money” in 2020 followed by a remix with Zlatan and Peruzzi respectively titled “Mr Money” and “Lady” which eventually got some attention but not to the mainstream extent.
His freestyle, “Lady”, particularly played a good role in his rise to the limelight. Produced by Blaque Beats, it went viral after it was reposted by several celebrities and social media influencers like Tunde Ednut, Broda Shaggi, and Sydney Talker. Asake continued to release more singles, including “Medusa” and “Yan Yan” before he was signed to Olamide’s YBNL Records imprint in February 2022.
The same month, he was shot into the limelight with the release of his hit single “Omo Ope” and his debut extended play, Ololade, featuring his breakthrough songs “Omo Ope” and “Sungba”. A remix of “Sungba” which he did with Burna Boy followed a month after.
July 2022 saw Asake signing a distribution deal with YBNL NATION and Empire Distribution. It was followed by the release of his debut studio album Mr Money with the Vibe (MMWTV) on September 8, 2022. The album contained hit singles like “Terminator”, “Peace Be Unto You” and the “Sungba” remix with Burna Boy. It also was well-received by fans in Nigeria and across the world.
Asake’s “MMWTV” went further to break several records globally, leading to his world music tour one of which was at the O2 Academy Brixton in London where he sold out 3 dates. After the release of his debut album “MMWTV” Asake has been making history in the music industry, the album has been topping different countries’ music charts since its release.
The album was the first Afrobeat debut album to debut on UK official album chart. Today, Asake is one of Nigeria’s fastest-rising singers whose songs trend globally. He has two official albums, an Extended Play and several hit songs.
Asake’s Songs include
- Mr Money
- Omo Ope (ft Olamide)
- African something
- Gbale Lo
His Studio albums
- Mr. Money with the Vibe (2022)
- Work of Art (2023)
- Ololade (2022)
As a reward for his hard work and commitment to making good music, Ololade Asake has received quite a number of very important awards. They include;
- City People Music Award For Best Collabo of the Year 2020
- City People Music Award for Popular Song of the Year 2020
- City People Music Awards for the Street Music of the Year 2020 Nomination
- Soundcity MVP Awards for Male Most Valuable Person of the Year. (2023)
How Asake Net Worth Came About
Asake accumulates his income from various sources. This, of course, includes record and album sales, streaming royalties, live performances, music tours, and brand endorsement deals. All these are the channels through which his net worth grows.
Sales from hit songs and albums are among the biggest ways Asake and his likes make their income. Depending on his agreement with his record label, the YBNL star gets a
share of every one of his records that is sold. A portion of the monies also goes to his manager, agents, promoters, PR teams, and sound engineers.
His debut album, Mr. Money with the Vibe, was no doubt Asake’s biggest project at the time. As a whole, the album reached Number One on the Top Albums Chart in 31 countries worldwide, including Nigeria, the UK and Ireland. Some of the songs off the album also reached Number One in 14 countries worldwide. Some also reached the Daily Top 100 in 60 countries worldwide.
How Much Does Asake Make from Streaming Royalties?
Streaming platforms pay artists royalties for songs that are streamed or downloaded. Artists like Asake are paid based on the number of times a sound recording is played and in most cases, these monies are directly deposited into the artist’s bank account every month or quarter. Asake receives royalties from various streaming platforms like Spotify, Apple Music, iTunes, and YouTube, to mention just a few.
What could be considered his biggest earnings from streaming royalties followed the release of his debut studio album. The euphoric 12-tracker album successfully set a new record on Apple Music after becoming the African album with the most first-day streams as well as the most opening three-day streams. It also became the first African album to have all its tracks occupy the top 10 spots on Apple Music Nigeria Top 100.
At the time of its release, at least three songs from the album had already peaked among the first ten positions on Apple Music’s national chart. For several months, his hit singles, “Sungba”, “Omo Ope”, “Terminator”, “Peace Be Unto You” and others maintained the number 1 spot on the Apple music chart.
This rave of achievement helped him to record 1 billion total streams with 4.5M monthly listeners on Spotify in less than 9 months after Olamide signed him. With platforms like Spotify paying $4 for every 1,000 streams and $4000 for every million streams, there is no doubt that Asake has generated millions from streaming.
His Earnings from Music Tours and Concerts
Going on tours and concerts are some other ways the likes of Asake makes huge financial income. One of the entertainer’s biggest moments was when he sold out 3 dates at the O2 Academy Brixton in London following the wide positive reception his album received globally. Although the exact number of tickets sold was not revealed, there is no doubt that the Nigerian-born singer returned home with significant financial growth.
On May 27 through 28, 2023, Asake joined the likes of Burna Boy, Beenie Man, Dadju, REMA, and CKay at a concert in Miami, USA. He was also at Manchester Academy, and Bowlers Exhibition Centre, in Manchester, UK.
On the final date of Asake’s Brixton Academy shows, several people were critically injured during a crowd crush. Two people – 33-year-old concertgoer Rebecca Ikumelo and 23-year-old security guard, Gaby Hutchinson – later died of their injuries.
His Endorsement Deals
Like most artists in the country, Asake gains huge income from brand endorsements. In 2022, he bagged a multimillion-naira ambassadorial deal with a cryptocurrency firm, Roqqu Pay. Though the exact amount was not stipulated, it is said that the deal was worth tens of millions of naira. The same year, he became the first Nigerian brand ambassador for the betting platform Parimatch.
List of Asaka’s Endorsement Deals
- Roqqu Pay
Where Is Asake’s House?
Went from hustling for free bedspace to investing in real estate 🏡 pic.twitter.com/8bThB7fnVw
— ASAKE (@asakemusik) August 18, 2022
Asake owns a house worth millions of Naira in Lagos, Nigeria. The Terminator crooner made it known to the public on his Instagram page. Although he went no further to reveal the interior of the luxury mansion, it is speculated that the single-storey house is worth hundreds of millions of Naira.
List of Asake’s Cars
Like every other wealthy celebrity out there, the YBNL signee, Asake, has acquired a number of luxury items, including cars. Among his rides is a Land Rover Range Rover which was spotted beside him in a video he made celebrating his newly-acquired mansion.
Asake’s SUV brand is said to be worth over N150 million. It’s a 5-door compact luxury crossover SUV which comes with a front engine and four-wheel drive layout. The latest model of the luxury ride has special features that include a new plug-in hybrid model with an estimated 48 miles of electric range.
In May 2023, the Nigerian Afro-fusion singer reportedly joined the list of the elite in Nigeria who owns a Lamborghini Porsche. The report about the ride followed a viral clip shared online by a netizen who captured the moment the car was being transported to
Asake’s mansion on the island.
While Asake is yet to speak up on his said new ride, the all-black convertible caused a lot of stir on social media with netizens hailing his quick rise to fame.
Asake’s Cars include
- Range Rover Velar