Adewale Adeleke is a 33 years old Nigerian music producer, co-owner of the HKN music record label, and the Executive Director of Pacific Holdings with a net worth of $50 million. He is also known as the elder brother of Davido, the famous Nigerian superstar musician.
The Adeleke family is quite a popular family in the Nigerian society and thanks to Davido who happens to be the last of the Adeleke children, the family’s name has gained more public fame than it ever had. While the young pop artist is unarguably the most popular in the Adeleke family, he sure has siblings who are doing quite great for themselves in their various fields, including Adewale Adeleke. Here are some interesting facts we have to share with you.
Adewale Adeleke is Davido’s Elder Brother
Born on December 11, 1988, Adewale Adeleke is one of the two known sons of the famous Nigerian billionaire, business magnate, and president of Adeleke University, Adedeji Adeleke. Adewale was born in Atlanta, Georgia, USA, and like his younger brother Davido, he carries dual citizenship of America and Nigeria.
Adewale is Yoruba by tribe, and a native of Osun State, South-West Nigeria. However, his mother, Veronica Imade, who was a University lecturer, was from Benin in Edo State. She passed away on March 6, 2003, when Adewale was about 15 years of age.
Aside from Davido who happens to be his youngest sibling, Adewale has sisters whose names are Ashley Coco Adeleke-Adaji and Sharon Adeleke – Ademefun. Interestingly, his two sisters are married and are doing quite well for themselves in their various careers.
Also a married man, Wale’s wife’s name is Ekanem Kani with whom he welcomed their first child and daughter Maya. Talking about his educational background, Adewale is a graduate of Columbia University where he studied and graduated on Monday, 18 May 2015, with a Bachelor’s Degree in Business Administration.
A look At How Adewale Adeleke’s Net Worth of $50 Million Accrued
Being a member of the wealthy family may have helped the Adeleke children achieve so much financial success but aside from the family’s wealth, Adewale Adeleke has gone out of his way to ensure he made meaningful wealth for himself.
Today, while he shares in his father’s whopping net worth of about $700 million as the first son, Adewale has through hard work and dedication to his career, been able to raise for himself an estimated net worth of $50 million. Here is a breakdown of Adewale’s source of wealth.
He Co-owns a Record Label Called HKN Music
Music for sure runs in the blood of the Adelekes and while he may not be a singer like his now-famous brother Davido, Adewale is also into music production. He is the chairman and producer in charge of the HKN Music (‘Honorable Kings of New-school’) largely known as the record label home to the famous music artists Sina Rambo and B. Red.
The music company which belongs to the family was co-founded by Adewale and his younger brother David. The record label enjoyed a phenomenal rise in profile particularly in 2013 and 2014, as it was responsible for the production of Davido’s debut studio album Omo Baba Olowo, which was released by HKN Music in July 2012.
The 33 year old was also one of the executive producers of the album which initially received wide negative reviews from music critics, who denounced its lyrical content. However, the album went on to win The Headies 2013 ‘Best R&B/Pop Album’. It also received a nomination for Album of the Year in 2013 and Best Album of the Year at the 2013 Nigeria Entertainment Awards. HKN indeed was able to build its success on the crest of the wave of Davido’s phenomenal success.
Though not much has been heard about the record label since Davido left it to form his own record label known as the Music Worldwide (DMW), the music label is believed to be doing well. It initially started with five artists – Davido, Danagog, B-red, and Sina Rambo and in 2016, it added two young lads, Mayorkun and Dremo. The exact amount Adewale makes from the record label as the chairman is not known but it is enough to contribute to his fast-growing net worth.
Adewale is also the Executive Director of Pacific Holdings Limited
In 2015, Adewale Adeleke was appointed executive director of his father’s Energy Company, Pacific Holdings. The company which has its headquarters in Lagos State, Nigeria, is a diversified conglomerate with 6 major companies; Pacific Drilling Company Ltd, Pacific Farm Ltd, Inter-trade Warehousing Ltd., Junior Venture Ltd., Pacific Freightliners Ltd., and Pacific Gas Company Ltd.
Wale runs the company with his father who is the CEO and in 2021, his younger brother David was incorporated into the business as a director alongside his other brother and sisters who are all equally playing a pivotal role in Pacific Holdings. Adewale has been able to work with his father to increase the worth and value of the company.
Aside from this company, it is largely believed that as one of the sons of the Adelekes’ he has stakes in most of his father’s other businesses including Adeleke University and a non-profit NGO called Springtime Development Foundation (SDF). However, his personal income from these family businesses is not known.
Comparing Adewale Adeleke’s Net Worth with Davido’s
Wale and his brother David have come a long way together as siblings and as business partners. Aside from playing pivotal roles in their father’s various businesses, these two have individually worked hard to raise their financial standards. However, while Davido might be the most popular one in the family, he apparently has a lower net worth. The ‘FEM’ crooner disclosed so himself in an interview saying that all his siblings are richer than he is.
Giving reasons why his income is much lower than that of his brother and the rest of the family, Davido pointed fingers at the family business saying he would make a much higher income if he was working in his father’s power plant. This could be a valid point as Adewale whose net worth is estimated at $50 million appears to be way richer than his brother Davido whose net worth on the other hand is estimated at $40 million.
Aside from making much of his income from their father’s multiple businesses, Wale appears to be more prudent with spending than his brother. Disclosing this in a live Instagram interview with Ubi Franklin, the HKN chairman said he is more business-minded than his younger brother who, for instance, runs his DMW “like a charity organization”.
He further noted that his brother neither signs contracts with his artists nor does he take money from those signed to his label. This, according to him, was how the HKN Music was run but he had to restructure it because he could not afford to keep throwing money around the way his brother does with DMW.
The young artist Davido had earlier revealed that his decision to pursue his musical career rather than focus on the family business like the rest of his siblings was because he loved music as a craft. He also chose not to monetize his record label as many other artists would because he is more interested in helping young and upcoming artists and was not really after profit.
Despite their differing financial stance, Davido and his brother work together and respect each other. Their father, Adedeji Adewale, who still leads with a net worth of over $700 million, is largely being referred to as the richest man in Osun State and one of the richest and most successful businessmen in Nigeria.