Who Is The Richest Musician in Nigeria? Meet the Top 20

Music is undoubtedly among the highest-paying careers in Nigeria, including politics and sports. This is one reason why many Nigerian youths see music as a fast track to riches. Several successful artists in Nigeria rose from zero to hero and are now enjoying unimaginable wealth by doing what they know best – singing. In music, popularity or fame is determined by the number of followers an artist has, the number of downloads his songs have, the frequency of shows he performs, and the number of endorsements he gets. Hence, the question of who is the richest musician in Nigeria has often been asked.

All these may or may not translate into wealth; thus, the list of the richest musician in Nigerian is mainly determined by their total value of assets. We will give you the richest musician in Nigeria based on his net worth and 19 others that make up the top 20 list. Here are the top 20 richest musicians in Nigeria and their estimated net worth in dollars.

1. Davido

  • Net Worth: $40 million
  • Age: 29 years old
  • Active Years: 2011 – present
  • Other Sources of Income: Endorsements deals, Motorsports, Record labels
  • Best Known For: Aye and Gobe.

Davido (David Adeleke Adedeji) is an American-born Nigerian recording artist, performer, and record producer. He is the richest musician in Nigeria, and his wealth is gotten from his music career, endorsement deals, and other gainful ventures he is into. For just a decade in the music industry, he has achieved a lot of fame and wealth than those who had been in the industry before him. The son of a billionaire businessman, Davido has made his way to the top as the richest musician in Nigeria through his efforts and contributions in the music industry.

Young and talented, the Aye and Gobe Crooner started singing officially in 2011. He is the co-owner of HKN Music. Davido has won a BET Award, a Kora Award, a Channel O Music Video Award, a Ghana Music Award, a Nigeria Music Video Award, two MTV Africa Music Awards, two African Muzik Magazine Awards, and five Headies Awards.

Sources of Davido’s Income

As a musician, Davido’s main source of income is his music career. He earns from the sales of his albums, online music download and views, and many other ways. He also owns some other businesses that fetch him money. In 2018, he announced that he was expanding his businesses into movies and aviation. Here’s a breakdown of his other sources of income apart from music.

  • Endorsement Deals: Davido has signed some endorsement deals with major companies, including MTN. His fame and rank in the music industry have brought many endorsement deals his way. He is an ambassador to AXE, Pepsi, Travelbeta, Closeup, and Guinness. He signed a partnership deal, together with his company DMW, with a payment company called Bitsika. Part of his net worth comes from these endorsement deals he signed with these multi-national companies, among many others.
  • Davido Music Worldwide: Before he founded his record label, he was a co-owner of the HKN record label. He co-founded the company with his older brother Adewale Adeleke in 2011. Later on, in 2016, Davido founded Davido Music Worldwide (DMW). His record label has signed many artists into acts, and he produces his music through his company.
  • Director at Pacific Holdings: Davido owns a share in his father’s company, Pacific Holdings, alongside his other siblings. They are all directors at the company. This also contributes to his net worth.
  • Concerts and Performances: This is another major source of income for musicians. Davido earns a chunk of his net worth from the paycheques he gets from concerts and performances. When invited to shows for live performances, for each show, he charges from $100,000 – $200,000 for international shows and N10 million for local shows.
  • Motorsport: Davido announced in 2018 that he was starting a motorsport business. This is a motorized racing or non-racing competition.

How He Spends His Net Worth

Davido lives a luxurious lifestyle just like other celebrities. He spends his money on luxury cars, houses, expensive watches, and jewelry, among other things. His garage is decorated with fancy cars, including the Toyota Land Cruiser $77,000, Bentley Bantayga worth $277,000, Mercedes G-Wagon worth $54,000, Range Rover SUV Autobiography worth $231,000, Porsche Panamera Turbo S worth $64,000, etc. Davido also acquired a private jet worth N9.7 billion. He bought two Rolex wristwatches for his two daughters and an N45 million car for Chioma, the mother of his son.

2. Wizkid

Richest Misician in Nigeria

  • Net Worth: $30 million
  • Age: (age dob=”19900716) years old
  • Active Years: 2001 – present
  • Other Sources of Income: Record label, Endorsement Deals, Business, Concerts
  • Best Known For: “Holla at Your Boy,” Superstar

Wizkid (Ayodeji Ibrahim Balogun), the crown prince of African music, started his musical career at age 11. However, he rose to prominence in 2010 with the release of the song Holla at Your Boy after signing a record deal with Banky W’s record label, Empire Mates Entertainment (E.M.E.). Wizkid has good looks, great vocals, massive fans, and now a fat bank account. His massive net worth earned him the spot as the second richest musician in Nigeria.

How Wizkid Acquired His Wealth

Wizkid makes te chunk of his wealth from his musical career. However, he is not relaxed with his music career alone, as he has other music-related ventures and sources of income. Apart from the sales of his albums and other online earnings, he also earns greatly from endorsement deals and other businesses.

  • Endorsement Deals: Wizkid earns a chunk of his net worth from the numerous endorsement deals he signed with national and multinational companies. He signed endorsement deals with companies like Guinness, Pepsi, Glo, Nike, UBA, Ciroc, etc. He earns greatly from these deals.
  • Live Shows: Like other musicians, Wizkid earns greatly from live shows and performances. He charges not less than N3 million for performances and concerts.
  • Record Label: Wizkid owns a record label called Star Boy Entertainment. The record label has signed some musicians into the act and earned him some more money.
  • Star Boy Clothing Line: Wizkid is the founder of Star Boy Clothing Line, whose branches are located in Lagos and Manhattan, New York. He unveiled his brand in Manhattan on 11 August 2018, with Starboy-branded jackets, T-shirts, sweatshirts, mainly in green and white color. With this business, he aims at taking the Nigerian brand to the United States.

How Wizkid Spends His Wealth

Starboy is not a lavish spender like other musicians, but his lifestyle still speaks of his wealth. In his car collections are Hyundai Sonata worth $33,000, Lamborghini Prime X2 of $60,000, Bentley Continental GT speed worth $109,000, Mercedes Benz G63 worth $145,000, and BMW X6 worth $26,000.

He owns houses in various strategic locations in Nigeria and Los Angeles. Recently, he spent N3.6 million on dinner with his friends at OX Restaurant in Victoria Island, Lagos.

3. Don Jazzy 

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  • Net Worth: $18.5 million
  • Age: 39 years old
  • Active Years: 2002 – present
  • Other Sources of Income: Business, Endorsements, Acting, Record Label
  • Best Known For: Dorrubucci, Pop Something, Mr. Endowed, Over the Moon

Don Jazzy (Michael Collins Ajareh) is a Nigerian multi-award-winning record producer, singer, songwriter, audio engineer, former CEO of Nigerian record label Mo’ Hits Records, and the current CEO of the Mavin Records label. As a producer, he produced all of D’Banj’s hits until D’Banj left the label. Don Jazzy produced other hits like Dorobucci, Eminado, Adaobi, Godwin, and Katapot, among others.

Sources of Don Jazzy’s Income

The main source of Don Jazzy’s source of income is his music career and other music-related businesses. He is a record producer, businessman and earns greatly from endorsement deals. Here’s a breakdown of how he made his impressive net worth.

  • Music Production and Singing: He makes a chunk of his net worth from the sales of his albums. Don Jazzy co-founded Mo-hits, a record label, with D’banj in 2004. On the disbandment of the record label, he founded Mavin Records in 2012. Mavin Records has produced songs for popular Nigerian artists like Tiwa Savage, D’Prince, Korede Bello, etc.
  • Endorsement Deals: Don Jazzy has inked some endorsement deals over the years. He has signed some endorsements with companies like Konga, MTN Nigeria, Loya Milk, Johnnie Walker, among several other companies.
  • Business:  He established an oil business called Mavin Energy Limited in 2013 with his younger brother. The company supplies petroleum products like cooking gas, petrol, diesel, and kerosene to companies, factories, and homes.
  • Acting: The record producer made an acting debut in the movie, Introducing the Kujus and The Last 3 Digits. He has also been seen in various drama series and short films ever since. This adds more money to his already fat pocket.

How He Spends His Wealth

Don Jazzy spends his money on fancy cars, luxurious houses, and other expensive items. Among his car collection are the 2016 Cadillac Escalade, Bentley Continental Flying Spur, Range Rover Sports, and Porsche 911 Carrera. It has been rumored for a long time that the singer owns a private jet, but it has not been confirmed. In addition, Don Jazzy owns a two-story mansion in Lekki, Lagos State, Nigeria.

4. Burna Boy 

  • Net Worth: $17 million
  • Age: 30 years old
  • Active Years: 2012-present
  • Other Sources of Income: Concerts, Endorsement Deals, Record Label
  • Best Known For: Twice as Tall, African Giant

Burna Boy (Damini Ebunoluwa Ogulu) is a Nigerian songwriter, singer, and rapper. He started his career in 2010 and 2012, released his first single, “Love to Party.” Since his venture into the music industry, he has made a name for himself and garnered his massive net worth from this career.

Sources of Burna Boy’s Net Worth

His music career is the major source of his wealth. Burna earns from sales of his albums, online sources, endorsement deals, record labels, and performances in concerts. Here’s a look at how he accrued his impressive net worth.

  • Concerts and Shows: Burna Boy charges at least N7 million for events in Nigeria and up to $60,000 for international events. He earns money from hosting concerts and invitations to perform or grace concerts and events.
  • Endorsement Deals: The musician earns from the many endorsement deals he has signed with several companies. Some of the companies he is an ambassador to are GLO, Nigerian Breweries Plc, Mortel Cognac, etc.
  • Record Label: Burna founded a record label called Spaceship Entertainment. This record label is a company under the group Spaceship Collective owned by his mother, Bose Ogulu. The company has signed different artists, produced several songs and albums, and contributed a chunk to his net worth.

How He Spends His Money

Burna owns a luxurious eight-bedroom mansion with a swimming pool in Lekki, Lagos State. Also, his car collection is impressive with cars like G-Wagon, Rolls Royce Dawn Convertible, 2013 Ferrari 458 Italia, Mercedes Benz S-Class, Bentley Continental GT, and Range Rover Autobiography.

5. 2-Baba 

Richest Musician in Nigeria

  • Net Worth: $16 million
  • Age: 46 years old
  • Active Years: 1994 – present
  • Other Sources of Income: Endorsements, Concerts, Record Label
  • Best Known For: African Queen

2baba (Innocent Ujah Idibia) is one of the most celebrated pop artists in Nigeria and Africa at large. Tuface started singing with Blackface and Faze. They formed a band, Plantashun Boiz, which saw the successful release of three songs. However, their band was disjointed, and each of the artists went their separate ways. Tuface released his popular song African Queen and later the album Face to Face in 2004. Since then, he continued to release songs and albums, perform at concerts and events and successfully amassed the net worth he enjoys today.

Sources of 2-baba’s Wealth

Tuface makes his money from music and other investments. Sources of his wealth include endorsement deals, sales of music albums, concerts, and other businesses.

  • Endorsement Deals: Tuface has some endorsement deals with some multinational and national companies. Some of these companies are Guinness, Airtel, and Campari.
  • Real Estate Business: The musician has a deal with Haven Homes, a real estate company. His earnings from this real estate company and other real estate dealings have also contributed to his net worth.
  • Business: He was paid $189,000 for his song “African Queen,” which was used as a theme song in the movie Phat Girlz.
  • Record Label: Tuface Idibia founded a record label called Hypertek Entertainment. This record label has signed acts like Dr. Victor Uwaifo and Dammy Krane.
  • Live Performance and Concerts: For live performances and concerts, Tubaba charges at least N3 million.

How He Spends His Money

Tuface owns luxurious houses in Lagos, the United States, and relaxation lounges located at FESTAC and Victoria Island, Lagos. In his car collection are Toyota Land Cruiser, Chevrolet Corvette Coupe, and Ferrari Coupe.

6. Rudeboy 

  • Net Worth: $16 million
  • Age: 40 years old
  • Active Years: 2003 – present
  • Other Sources of Income: Record Label, Endorsement Deals, Business
  • Best Known For: Fire Fire, Reason With Me

Rudeboy (Paul Okoye) is a Nigerian songwriter, singer, and record producer. He started singing with his twin brother, Peter Okoye until the group’s disbandment in 2017. He released his first solo track after the disbandment in 2017. He has continued to release songs with and without collaborations.

How He Earns and Spends His Money

The musician has some endorsement deals with companies like Olympic Milk, Skol Bee (located in Congo), and Glo Telecommunication. Rudeboy founded his record label called Fire Department Inc in 2019, which fetches him more income. The record label has produced several songs and albums and has signed some artists into acts.

Rudeboy has a luxurious mansion at Parkview Estate in Ikoyi, Lagos State, Nigeria. He has another mansion at Banana Island. Also, he owns a house in Atlanta, Georgia, located close to his brother’s house. He owns a fleet of fancy and expensive cars in his garage. Included in his car collections are Bentley Bentayga, Mercedes Benz GLE43 AMG 4MATIC Coupe, Lamborghini Aventador Roadster, Lamborghini Huracan, BMW X6, Jeep Wrangler, Range Rover, and 2014 Mercedes Benz C-Class Coupe.

7. D’Banj 

Dbanj

  • Net Worth: $13.5 million
  • Age: 41 years old
  • Active Years: 2004 – present
  • Other Sources of Income: Record label, Endorsement deals, and other businesses
  • Best Known For: Oliver Twist

D’banj (Oladapo Daniel Oyebanjo) is a Nigerian songwriter, singer, rapper, TV personality, and entrepreneur. The Koko master was born on 9 June 1980. The energetic performer and harmonica player have won several music awards, including the awards for Best African Act at the MTV Europe Music Awards 2007, Artist of the Year at the MTV Africa Music Awards 2009, and Best-selling African Artist at the 2014 World Music Awards. His biggest and most successful song ever was “Oliver Twist,” produced by Don Jazzy.

Sources of D’banj’s Wealth

Like other artists, D’banj earns from his music career, endorsements, and other ventures.

  • Record Label: D’banj co-founded Mo’ Hits with Don Jazzy, but they later disbanded. He has his record label called DB Records.
  • Endorsement Deals: D’banj inked some endorsement deals with Bank of Industry, Heritage Bank, Beats by Dre, Ciroc Nigeria, SLOT, etc.
  • Other Businesses: The musician owns a value-added service content provider called MCOMM Ltd (Median Mobile Communications Limited. Also, he owns a 360 media company with the name D’Kings Men Media Limited. In addition, his media company partnered with the Bank of Industry, MTN Nigeria, to establish the CREAM platform. This is a creative talent platform that helps in the discovering of new talents in Nigeria.

D’banj has acquired several luxurious cars for himself and has been seen with a lot of them. Among his car collection are 2015 Porsche Carrera, Ferrari f430, and two Aston Mavin Vantage. He also owns houses and other luxurious items.

8. Olamide 

Olamide

  • Net Worth: $12 million
  • Age: 33 years old
  • Active Years: 2010 – present
  • Other Sources of Income: Endorsement Deals, Record Label
  • Best Known For: Shoki, Baddest Guy, Durosoke, Yemi My Lover

This Lagos-based Nigerian hip-hop rap artiste, Olamide (Olamide Gbenga Adedeji), was born on 15 March 1989, and he records mostly in his native tongue, Yoruba. He released his debut studio album Rapsodi in 2011, and in 2013, Olamide became the first Nigerian to sign an endorsement deal with Ciroc. He has built a fortune for himself. His song “Eleda Mi” has 1.2 million views on YouTube. He is believed to be the mastermind behind the rise of Shoki.

How Olamide Earns and Spends His Net Worth

Olamide earns from his numerous endorsement deals with companies like Etisalat, Peak Milk, and Guinness. He also has a music label named YBNL Nation (Yahoo Boy No Laptop), founded in 2012. He spends the money he makes on expensive cars, houses, and other luxurious items. Some of his cars are Mercedes Benz G-Class, Rolls Royce Phantom, Lamborghini, among others. In addition, he owns houses in several locations in the country.

9.  Mr. P 

  • Net Worth: $11 million
  • Age: 40 years old
  • Active Years: 2003 – present
  • Other Sources of Income: Record Label, Endorsement Deals, Acting, Dancing
  • Best Known For: Cool it Down, Wokie Wokie, For My Head, Senorita

Mr. P (Peter Okoye) is Rudeboy’s twin brother. Together, they trended under the name P-Square until they went their separate ways in 2017. After separating, Mr. P released the songs “For My Head” and “Cool it Down” in 2017. Since then, he has continued to release songs and make appearances. When they separated, they equally shared some of the properties they co-owned and sold some and shared the money. In such a short period, they have bounced back in their music careers and made it to the list of richest musicians in Nigeria.

Sources of Mr. P’s Wealth and What He Spends them On

Like Rudeboy, Mr. P owns a record label called PClassic Label, which signed artists like DJ Switch and has seen the production of many songs and albums. He also has some endorsement deals he earns from, some of which are deals with Olympic Milk, Adidas, Kia Motors. He also owns a reality TV show titled “Dance with Peter.” In addition, he is also a dancer and acting. He has been seen in comedy skits with Mr. Macaroni, and later in 2021, he joined the Nollywood industry with the debut movie Shanty Town.

He spends his money on expensive things like cars and houses. His car collection includes Range Rover, Dodge Challenger, Mercedes Benz G-Wagon, and Porsche 718 Cayman. Mr. P owns a mansion in Banana Island, Lagos, and another one in Atlanta, Georgia.

10. Phyno  

  • Net Worth: $11 million
  • Age: 35 years old
  • Active Years: 2003 – present
  • Other Sources of Income: Endorsements, Record Label, Acting
  • Best Known For: Fada Fada, High Way, Financial Woman, Egedege

Phyno (Chibuzor Nelson Azubuike) started his musical career as a producer in 2003 and is known for rapping in the Igbo language. Phyno is a living genius and a hard-core rapper; he is hot in the market, no wonder every musician wants a collaboration with him. His musical prowess and fat bank account qualified him to be among the richest musicians in Nigeria.

Sources of Income for Phyno and How He Spends His Money

The main source of his wealth is his music career and other music-related businesses. He made an acting debut in 2018 in the movie Lionheart. He owns the Penthauze Music label, which was founded in 2008, and has signed artists like Runtown, StormRex, etc. Phyno also earns from endorsement deals he signed with companies like Airtel, Nairabet, Guinness, and Nigerian Breweries.

He has a fleet of cars in his garage, including Rolls Royce Phantom, Range Rover, and Bentley Continental GT. He owns a mansion in Net worth and other strategic locations in the country.

11. Timaya

  • Net Worth: $10.5 million
  • Age: 41 years old
  • Active Years: 2005 – present
  • Other Sources of Income: Record Label, Endorsements, Business
  • Best Known For: Dem Mama, Bum Bum, Sexy Ladies, I Concur

Timaya (Inetimi Alfred Odon) is the founder of South-South hip hop group Dem Mama Soldiers. His solo career began in 2006 with the release of “Dem Mama,” which also appeared on his debut album, True Story.  The Egberi Papa 1 of Bayelsa once won the hearts of his fans talking about how he sold plantain on the streets. Timaya has risen from a plantain hawker to one of the richest musicians in Nigeria.

He founded the record label DM Records Limited, which has seen the production of several songs and albums. Timaya also does some business in the fashion world, real estate, and the oil and gas industry, which fetches him more income. He earns from endorsement deals he has signed with companies like MTN, Hennessy, and GLO.

Timaya owns three mansions in three strategic locations in Nigeria; one in Lekki and the other two in Port Harcourt City. His car collection includes fancy cars like Mercedes Benz G55 AMG, Mercedes Benz GLE, Bentley Continental GT, etc.

12. Flavour 

  • Net Worth: $9.8 million
  • Age: 38 years old
  • Active Years: 2005 – present
  • Other Sources of Income: Record Labels and Endorsement Deals
  • Best Known For: N’abania, Nwa Baby, Adamma, Golibe

Flavour (Chinedu Okoli) began his musical career as a drummer in a church in Enugu. He is currently signed to 2nite Entertainment and is known for these songs “Nwa Baby,” “Baby Oku,” “Ada Ada,” and “Golibe.” Currently, Flavour is one of Africa’s most sought-after performing artists.

Flavour earns greatly from endorsement deals, sales of his songs. He inked endorsement deals with companies like Nigerian Breweries, Bullet, MTN, etc. He owns and earns from 2nite Enter10ment and 2nite Music Group.

He spends on fancy and luxurious cars like the 2014 Mercedes Benz G63, BMW X6, Lexus LX570, 2014 Range Rover Vogue. He also owns elegant houses in several locations in the country.

13. Banky W. 

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  • Net Worth: $9 million
  • Age: 41 years old
  • Active Years: 2002 – present
  • Other Sources of Income: Talent Management Firm, Endorsements
  • Best Known For: Umbrella, All I Want Is You, Be My Lover, The Wedding Party

Banky W. (Olubankole Wellington) was born on 27 March 1981. The R&B artist started with a remix of Rihanna’s Umbrella and has evolved into an international superstar. He is known for wearing bowler hats and his hit songs Lagos Party, Yes/No, Be My Lover, and Good Good Loving. 

How Banky W. Acquires and Spends His Wealth

From Etisalat to Samsung, Banky W has endorsed huge deals and earns a chunk of his net worth from these deals. He is not just a singer but also an actor. His debut movie, The Wedding Party, bought him many more fans and added more money to his already fat bank account. As a singer, he owns a talent management firm called Empire Mates Entertainment E.M.E. that has signed many artists and produces for many others and manages talents.

He has an eye for luxury and a fancy lifestyle. Banky owns a luxurious mansion at Lekki, Lagos State. In his car collection are Rolls Royce Phantom, Toyota Land Cruiser Prado, and Range Rover 2008 edition.

14. M.I Abaga

  • Net Worth: $7 million
  • Age: 40 years old
  • Active Years: 2004 – present
  • Other Sources of Income: Acting, Endorsement Deals, Record Label
  • Best Known For:  Crowd Mentality, Bad Belle, Monkey, Phase 2

The artist and music executive of Chocolate City, M.I (Jude Abaga) is a revolutionary Nigerian hip-hop rapper. He rose to fame in 2006 when his song “Crowd Mentality” became popular in his hometown, Jos. Since then, he has won several awards. MI has made a name for himself in the industry. He is credited with the success of people like Ice Prince Zamani. He has garnered enough money from his several endeavors to qualify to be among the richest musicians in Nigeria.

He is the CEO of Chocolate City, a record label founded by Audu Maikori, and he earns from it. M.I also founded a record label called Loopy Records, which contributes to his net worth. He earns from endorsement deals that he signed with various companies like GLO. He also earns from his acting career as he acted in the movies Chief Daddy and Namaste Wahala. M.I owns a fleet of fancy cars like Mercedes G-Wagon and Bentley Continental GT.

15. Reminisce

  • Net Worth: $7 million
  • Age: 41 years old
  • Active Years: 2008 – present
  • Other Sources of Income: Endorsement Deals, Record Label, Acting
  • Best Known For: Oja, Gbedu, Let It Be Known, Ibile, Ponmile

Reminisce (Remilekun Abdulkalid Safuru) is a Nigerian rapper, songwriter, and singer. He is recognized both nationally and internationally. He has been in the industry for over a decade and has garnered an impressive net worth for himself. Like others, music is the major source of his net worth. He also earns from his record label LRR Record.

In addition, Reminisce earns from the numerous endorsement deals he has signed. The brands he endorses are Samsung Mobile, Frapapa betting company, Origin, and others. He also made his debut in the movie industry with the movie titled Angelina.

He owns a mansion in Ikorodu, Lagos State. The rapper also spends on cars, and in his collection is the 2017 Lexus SUV and many others.

16. Patoranking

  • Net Worth: $6.5 million
  • Age: 31 years old
  • Active Years: 2009 – present
  • Other Sources of Income: Endorsement deals, Record Label, Other Businesses
  • Best Known For: Alubarika, Abule, Mon Bebe, Girlie O

Patoranking (Patrick Nnaemeka Okorie) is one of Nigeria’s finest reggae-dancehall artists. In 2010, he signed a record deal with K-Solo’s Records and released “Up in D Club,” since then, he has been making a good name for himself in the music industry. His number one song, Girlie O, featuring Tiwa Savage, has made over 3.5 million views on YouTube, contributing to his mammoth wealth. Here’s how he made it to the list of the richest musicians in Nigeria.

He accrued his wealth through his musical career and other ventures he is involved in. He earns from album sales and performance fees. Endorsement deals also add to his net worth; he signed endorsement deals with Premium Vodka drink, Lagos City Marathon, Airtel Nigeria, among others. He also earns from his record label Amari Musiq label. Patoranking signed a distribution deal with VP Records.

He spends on his car collection are Porsche Boxter, Porsche 911, Mercedes Benz G55, Mercedes G-Wagon, 2014 Range Rover SUV. Patoranking is among the Nigerian celebrities who own houses in Lekki. He owns a luxurious house at Elite Metro Graden, Lekki, Lagos State.

17. Kcee

  • Net Worth: $5 million
  • Age: 43 years old
  • Active Years: 2013
  • Other Sources of Income:  Endorsement Deals and Live Performances
  • Best Known For: Sweet Mary J, Agbomma, Billion Squad, Burn, Limpopo

Kcee (Kingsley Chinweike Okkonkwo) is a Nigerian songwriter and songwriter. He started his singing career in 2012 with his winning in Star Quest. He later delved into singing fully with his partner and friend Hajie. He was formerly part of the hip-hop group called KC Presh. Later in 2011, they separated and went their separate ways. In 2020, he released his first single titled “Sweet Mary J.” With this, he has been in the spotlight to date and has amassed the net worth he now enjoys today as one of the richest musicians we have in Nigeria.

Sources of Income for Kcee and What He Lavishes them On

Kcee earns greatly from endorsement deals. He started signing endorsements in 2013. He signed endorsement deals with MTN, Magnum and was appointed by Patience Jonathan as the Peace Ambassador to the Federal Republic of Nigeria. He also earns from his music career, sales of music albums, and online channels. In addition, Kcee earns from live performances and concerts.

The musician lavishes his money on expensive cars, houses, and other items. Some of the cars in his car collection are Toyota Land Cruiser, Gold Plated Cadillac Escalade, Mercedes Benz G-Wagon, BMW 7 Series, etc. He owns two mansions, one at Lekki and the other at Uli, Anambra State, his hometown.

18. Tiwa Savage 

  • Net Worth: $5 million
  • Age: 42 years old
  • Active Years: 1996 – present
  • Other Sources of Income: Endorsement Deals, Acting,
  • Best Known For: Kele Kele Love, O Yeah, All Over, Ma Lo, Eminado, Wanted, Oyi remix, Dorrobucci

Tiwa Savage (Tiwatope Savage Balogun) is one of Nigeria’s hottest music divas. The singer, songwriter, and great performer is one of the richest musicians in Nigeria. Her breakout hit was “Kele Kele” Love. And she has collaborated with artists like Flavour, Reekado Banks, Patoranking, etc. She is a force to reckon with in the Nigerian music industry. She is the first female artist to be an Ambassador to Pepsi. She is the only female musician who made it to this list of the top 20 richest musicians in Nigeria.

How Tiwa Makes and Spends Her Money

Tiwa earns from Endorsement deals. She has a distribution and management deal with Roc National, a publishing deal with Sonny ATV Music publishing, and others. She is an ambassador to companies like Maggi, Forte Oil, and Star Radler. Savage founded her record label 323 Entertainment Record alongside her former husband, Tunji Balogun (Tee Billz), which adds to her net worth.

She spends on expensive cars, and in her collection are Toyota Land Cruiser, Prado SUV, Red Volkswagen EOS Convertible, Rolls Royce Phantom, Mercedes Benz V-Class, among others. She also owns a house at Haven Homes in Richmond Estate, Lekki Lagos State.

19. Ice Prince 

  • Net Worth: $5 million
  • Age: 37 years old
  • Active Years: 2004 – present
  • Other Sources of Income: Endorsement Deals, Performances and Album Sales, Acting
  • Best Known For: Oleku, Kolo, Superstar, If I Tell You, Feelings

Ice Prince (Panshak Henry Zamani) rose to fame after releasing Oleku, one of Nigeria’s most remixed songs of all time. He won the 2009 Hennessy Artistry Club Tour. The Chocolate City rap artist has won other achievement awards, including one BET Award, The Headies Awards, Nigeria Entertainment Awards, and two Channel O Music Video Awards. His most popular song Oleku has 3.1 million views on YouTube.

Endeavors That Contributes to Ice Prince’s Net Worth and What He Spends Them On

The musician earns greatly from his music career. He inked some endorsement deals with national and multi-national companies like Etisalat, Addidas, Jovago.com, and Dusse Cognac. He is the founder of Super Cool Cats record label, which contributes to his net worth. He also has a career in acting. Ice Prince starred in the 2013 movie House of Gold and the TV show Shuga, season 3.

Ice Prince spends his net worth on cars, houses, and other luxurious items. In his car collection are Lamborghini, Bentley GT, Mercedes Benz, and Range Rover. He also owns a grand mansion in Banana Island, Lagos State.

20. Iyanya  

  • Net Worth: $5 million
  • Age: 35 years old
  • Active Years: 2008 – present
  • Other Sources of Income: Endorsement Deals, Record Label,
  • Best Known For: Kukere, Your Waist

The Calabar-born Iyanya Onoyom Mbuk, popularly known as Iyanya, came to the limelight after winning the 2008 MTN Project Fame West Africa. He started recording his album after 2008, and he came up with My Story. Although his first album did not sell much due to distribution and promotion problems, he continued until the release of his hit song Kukere. The song bought him fans from Nigeria, Ghana, and The United Kingdom. He won the Artist of the Year award at The Headies 2013. He rose from a contestant soliciting votes to a famous and wealthy musician. Iyanya’s most popular hit song Kukere currently has more than 15 million views on YouTube.

Sources of Iyanya’s Income

He is the co-owner of Made Men Music Group (MMMG) which contributed a large chunk of his net worth. He signed endorsement deals and became an ambassador to Solo Phones, Zinox Computers – Nigeria’s first certified branded computers. He also has endorsement deals with other companies. He was appointed a Senior Special Assistant Tourism and Advertisement by Prof. Ben Ayade, governor of Cross River State, Nigeria. He also earns from concerts and performances.

How He Spends His Wealth

Like other musicians and celebrities, Iyanya has an eye for fancy cars and luxurious houses. Some of the cars in his car collection are 2 Range Rover Evogue Sport Utility, 2013 Mercedes Benz E350, BMW X6, Bentley Continental GT, Land Cruiser Prado SUV, and 2012 Aston Martin Vanquish. The musician also owns a magnificent mansion in Nigeria.

Recap of the Top 20 Richest Musicians in Nigeria

  1. Davido – $40 million
  2. Wizkid – $30 million
  3. Don Jazzy – $18.5 million
  4. Burna Boy – $17 million
  5. 2-Baba – $16 million
  6. Rudeboy – $16 million
  7. D’Banj – $13.5 million
  8. Olamide – $12 million
  9. Mr. P – $11 million
  10. Phyno – $11 million
  11. Timaya – $10.5 million
  12. Flavour – $9.8 million
  13. Banky W. – $9 million
  14. M.I Abaga – $7 million
  15. Reminisce – $7 million
  16. Patoranking – $6.5 million
  17. Kcee – $5 million
  18. Tiwa Savage – $5 million
  19. Ice Prince – $5 million
  20. Iyanya – $5 million
Ajumoke Nwaeze
Ajumoke Nwaeze is a Creative Writer and Sensational singer, whose essence is to live, love and impact.

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