Davido’s net worth is estimated at $27.6 million, which is over 21 billion naira. The Nigerian singer garnered his wealth from his stellar music career, endorsement deals, and other business ventures.
Singing comes naturally for Davido, and if you combine his talent and hard work, you will agree that he deserves his fame and fortune. He dropped out of school in the United States to begin a music career in Lagos, Nigeria, and that bold move has paid off handsomely. His music is so good that he has managed to export it beyond the shores of his home country. Now, Davido proudly stands in the league of Africa’s richest musicians.
What Is The Net Worth of Davido?
Davido is reportedly worth $27.6 million, making him the third richest musician in Nigeria, behind only Don Jazzy and P-Square. He is also listed as the sixth richest musician in Africa, following the likes of Senegal’s Youssou N’Dour and Akon, South Africa’s Black Coffee, and Congolese rapper Gims.
Back home in Nigeria, Davido’s net worth is believed to have surpassed that of his co-stars, Wizkid and Burna Boy, who were previously leading with $21 million and $17 million, respectively. In 2019, New African magazine listed Davido as one of the 100 most influential Africans, and in February 2021, he appeared on Time magazine’s Time 100 Next List.
Davido’s Net Worth in Naira
In Nigerian naira, Davido’s net worth is approximately ₦22 billion. This is equivalent to his $27 million net worth if calculated with the exchange rate of 1 dollar to 850 naira.
The young Nigerian artist derives from a variety of sources, including music sales, endorsement deals, performances, paid public appearances, and even YouTube views and streams. Davido also has personal business ventures and investments that are helping to boost his net worth.
Highlights of How Davido Began His Music Career
Davido is a singer, songwriter, and record producer. He began his music career while attending Oakwood University in his late teens when he started making his own beats and investigating music production. Moved by his passion for music, Davido collaborated with his cousins B-Red and Sina Rambo to form the music act KB International. He later dropped out of school to fully pursue his music career.
Davido relocated to Lagos, Nigeria, and released his debut single, “Back When,” in 2011. He later gained fame after releasing “Dami Duro”, the second single from his debut studio album Omo Baba Olowo (2012). Dami Duro not only peaked at number 1 on Gold Myne’s list of the top 10 songs of 2012, but it also won Hottest Single of the Year at the 2012 Nigeria Entertainment Awards and was nominated for Best Pop Single and Song of the Year at The Headies 2012. The song’s music video also won several awards, including the ‘Most Gifted Newcomer Video of the Year and ‘Best Video’ by a New Artiste at the 2012 Nigeria Music Video Awards.
While Dami Duro became the ground upon which Davido made his successful rise to stardom and financial growth, his other hit singles like “Skelewu,” “Aye,” and “If” contributed immensely to his financial growth.
Today, with four successful music albums under his belt, Davido has no doubt made (and is still making) a remarkable mark in the Nigerian music industry and the world at large.
- Omo Baba Olowo (2012)
- A Good Time (2019)
- A Better Time (2020)
- Timeless (2023)
- Son of Mercy (2016)
How Much Davido Makes from Music Album Sales
Davido makes huge income from percentages of each of his albums that were sold. This is called the royalty percentage, and it often falls between 10% and 20% of every album that is sold. David released his first studio album, Omo Baba Olowo, in 2012. He may not have generated much income from the album as it received generally negative reviews from music critics, who denounced its lyrical content and his songwriting. However, the 7-track album managed to win the Headies 2013 Best R&B/Pop Album, even though the exact amount Davido made from it was not revealed.
Growing up in the music industry, Davido continued to work on his music career. Each album he released represented a better version of him. November 22, 2019, saw the young music artist releasing his second studio album, A Good Time. This is a five-track album that contains hit songs like If, Fall and Assurance. The album sold out quite well and even better than his debut album.
The success of the album paved the way for his third album, A Better Time, which was released on November 13, 2020, through his Music Worldwide (DMW). The album gulped a total of $2 million in production and was listed 8 on Billboard’s World Digital Song Sales chart. It debuted at #170 on the album chart and became Davido’s first-ever album to debut on the US Official chart.
Davido made his biggest album sale with his 4th music album, Timeless. The album, which was released on March 31, 2023, through Davido Music Worldwide, Columbia Records, and Sony Music Entertainment, recorded the highest number of album pre-orders by an African artist, breaking the previous record set by another Nigerian artist, Burna Boy, with his Grammy-winning album “Twice as Tall.”
The album also recorded the highest number of first-day album sales by an African artist. The album sold over 1 million copies on its first day of release, breaking the previous record held by Burna Boy. While the new album helped to cement Davido’s position as one of the biggest African artists in the world today, it also increased his wealth massively.
Music tours and concerts are among the many areas contributing to his huge financial growth. His music career has seen him travel to many countries of the world, where he entertains thousands of his fans with his songs, and he smiles home with money made from ticket sales.
Davido’s Income from Streams and Views
Aside from making income from album sales, Davido also makes meaningful income from digital platforms like Spotify, Apple Music, Deezer, YouTube, and YouTube Music. The young artist’s music has been streamed more than 2 billion times, and he paid for each of his songs that is played on any streaming platform. This is called a mechanical royalty. Over the years, the young artist has continued to boost his income from streaming platforms.
One of Davido’s biggest earners online so far is with his Timeless album, which apparently broke several streaming records: It had the biggest debut week ever with over 22 million streams four days after its release and over 50 million on-demand streams in its first week alone. At the moment, it has over 200 million on-demand streams, with 185 million of those streams earned during the 26 weeks of the first half of the year.
Davido has over 8 million monthly listeners on Spotify and 171 million listeners on Apple Music. He also has one of the highest music views on YouTube. Now, streaming his songs on each of these platforms has generated massive income for the young Afrobeats singer. For example, he is believed to have earned roughly $615,600 from his Timeless album played on Spotify, which pays an average of $0.004 per stream.
He also garnered over $1.7 million from Apple Music. The 31 year-old has also garnered 110 million streams from the album on YouTube and could have made up to $440,000 based on the 0.004 per stream payable on the platform.
Other Avenues Where Davido Builds His Net Worth
Aside from record sales and streaming platforms. Davido’s net worth also receives a massive boost from other ventures:
As one of the major social media influencers in Africa, Davido has endorsement deals with several major brands, including Pepsi, MTN, Head & Shoulders, and Axe. These endorsement deals, which are usually offered by major brands, pay him a significant amount of money each year—money running into hundreds of millions of naira. For instance, he was paid a whopping N30 million when he signed a deal with Africa’s largest network, MTN, on April 6, 2012.
On October 24, 2013, the Guinness Company endorsed him, who performed in the “World of More Concert” alongside other top Nigerian music artists like Olamide, Wizkid, Tiwa Savage, D’banj, and many more, and on May 9, 2018, he signed a deal with Infinix Mobile, a Hong Kong-based smartphone manufacturer. Currently, Davido has endorsement deals with French Cognac Martel, PUMA and Wema Bank
List of Davido’s brand Endorsement Deals
- Guinness company
- Infinix Mobile
- 1xbet, MTN-Plus
His Business ventures
Davido owns a record label, Davido Music Worldwide (DMW). His record label, which he established on 8 April 2016, is home to recording acts, such as Dremo, Yonda, Peruzzi, Idowest from Lagos Island, DJ Ecool, Danagog, B-Red, Deekay, May D, Deinde, Ayanfe, Liya, Morravey, and Logos Olori. It also houses producers like Fresh vdm and Speroach Beatz.
Artists affiliated and formerly signed to the label include Ichaba, Lola Rae, Lil Frosh, and Mayorkun. Record label owners like him make money from sales, touring, merchandise, and anything they can sell that has the band’s or artist’s name on it.
How Much Does Davido Charge Per Show?
Davido charges a significant amount of money for each performance. As reported, the “Fall” singer charges anywhere between ₦10 million and ₦40 million per show in Nigeria and between $100,000 and $200,000 for shows abroad. Davido is one of the highest-paid entertainers in Africa presently and only shows up to the biggest shows.
As a famous musician, Davido attends more than 40 shows annually. When you multiply the number of shows mentioned by the cash figure he collects, Davido’s hard work, no doubt, equates to his net worth. His Timeless Concert in Lagos, Nigeria, attracted all levels of his fans across Nigeria, with tickets being sold from N20,000 to millions. His successful music career has seen him perform at various important events across the world. So far, has performed in countries like Portugal, the USA, and the United Kingdom.
How Much Did FIFA Pay Davido for World Cup Appearance?
Davido was paid $1 million by FIFA for a one-minute performance at the 2022 FIFA World Cup held in Qatar. It was announced in November 2022 that Davido and Aisha had been scheduled to perform “(Hayya Hayya) Better Together” at the World Cup’s final ceremony. Aside from the financial income he made, Davido gained more fame as he performed to more than 85,000 spectators and over 2 billion watching online and television broadcasts.
For his performance in Qatar, he wore the 2010 Man: Straight Coloured Diesel Jeans worth $601.13. He paired the pants with the J-Graham Man: Bomber Jacket with detachable satin that cost around $884.64. To complete this neutral look, he paired his outfit with Puma Velophasis sneakers.
Who Signed Davido?
Davido is currently not signed to any record label. He owns his own record label named Davido Music Worldwide (commonly known as DMW). Prior to the establishment of his record label, Davido was signed with various record labels. He made his music debut as a member of the group KB International, and in 2016, he was signed to Sony Music Entertainment. Some months later, he founded DMW.
He has since released several albums and singles under the label. Although the Nigerian singer, songwriter, and record producer is currently signed to his record label, Davido Music Worldwide, he didn’t begin his journey from the top but started from the bottom like almost everyone else. Without any official record label backing, Davido dropped his debut single in 2011 titled “Dami Duro”.
Davido’s House and Cars
Davido owns several properties in Nigeria, including a mansion in Lekki, Lagos. He also owns a fleet of luxury cars, including a Lamborghini Aventador, a Rolls-Royce Phantom, and a Bugatti Veyron. His mansion in Lekki is a 10-bedroom, 12-bathroom property that is worth an estimated $10 million. The mansion has a swimming pool, a gym, and a movie theatre. His second mansion, which is located in Atlanta, Georgia, USA, is reportedly worth around $20 million.
Davido’s Charity and Philanthropic Works
Davido is a role model for many young people in Nigeria and has made a significant impact on the country’s music scene. He is also a philanthropist and has used his platform numerous times to raise awareness about social issues such as poverty and HIV/AIDS. The singer is heavily into philanthropy and has donated money to several charities, mostly through the David Adeleke Foundation (DAF) and the Save the Children Foundation.
In 2022, the singer, through his foundation DAF, disbursed over N200m to 424 orphanage homes in Nigeria. This, according to him, is a tradition that started a few years ago around his birthday, and he hopes to continue.
Frequently Asked Questions
How Old is Davido?
Davido is 31 years old. He was born on November 21, 1992.
Who is Richer Davido or Wizkid?
As of 2023, Davido is richer than Wizkid. Davido’s net worth is estimated to be $27 million, while Wizkid’s net worth is estimated to be $20 million.
How Much is Davido’s Private Jet?
Davido’s private jet is worth approximately $20 million. The Afrobeats singer bought his private jet, a Bombardier Challenger 605, in 2018, making him the youngest person in Nigeria to own a private jet.
How Much is Davido’s Lamborghini?
Davido’s Lamborghini Aventador is worth approximately $3 million. The millionaire singer bought the ride in 2021.