Nigerian musicians are arguably some of the richest to ever grace the African Continent and in this article, we will be focusing on the richest hip-hop artists in Nigeria for the year 2019. These Nigerian musicians make money through various means. Some of these means include endorsement deals, album/music sales and streaming, music shows and lots more.
The net worth of these Nigerian musicians is gotten from the total wealth of the musician, gig fees, endorsements deals and feasible investments by these artists in the year in review.
Interested in knowing the net worth of your favourite Nigerian musician? Continue reading as we’re about to get down to the business of the day and that’s a list of the richest musicians in Nigeria according to Forbes for the year 2019.
1. Don Jazzy
- Networth (Forbes) – $30 Million
- Current Age(2019) – 36 years (26 November 1982)
- Record Label – Supreme Mavin Dynasty
Michel Collins Ajereh who is popularly known as DonJazzy is a Nigerian music producer, singer, songwriter, and entrepreneur who is based in Nigeria.
Donjazzy is the founder and CEO of Supreme Mavin Dynasty Music Records which is home to many talented Nigerian musicians which include Rema, Korede Bello, Dr. Sid, D’Prince, Johnny Drille, POE, and recently – Crayon.
According to Don Jazzy, he worked as a security guard in the United Kingdom and after a while, he discovered that he could make money by playing the bass guitar.
After a while, he joined a band-owned by his friend and started playing at restaurants and different venues.
After some time, the band got so popular and even got to the point where they made up to £500 per gig and even played at the wedding for the President’s daughter at the time and this further lured in into starting music production.
He later came back to Nigeria and set up the now Mavins Records in 2012 and it is regarded as the most successful record label in the whole of Nigeria right now.
After extensive research and visiting a good number of net worth-niched websites, we found out the that Donjazzy is the 3rd richest musician in Africa with Wizkid and Davido coming after and this automatically makes him the richest musician in Nigeria for 2019 according to Forbes Magazine with an estimated net worth of $30 Million.
- Networth (Forbes) – $20 Million
- Current Age(2019) – 28 years (16 July 1990)
- Record Label – Star Boy Music
Ayodeji Ibrahim Balogun, popularly/professionally known by his stage name – Wizkid or Star Boy is a Nigerian professional singer and songwriter who was born on the 16th of July 1990.
Wizkid is an incredibly rich Nigerian musician. Just last year(2018) it was reported that Wizkid was paid a whopping sum of $681,200(245.9 Million Naira) to perform in India at a Royal wedding at Umaid Bhawan Palace.
He also has many endorsement deals, cars, houses and the popular Star Boy record label which has some popular Nigerian and foreign musicians signed into it.
Some of the musicians signed into Star Boy records include Legendary Beatz (Uzezi & Okiemute Oniko), L.A.X, R2bees, Mr Eazi, Efya, and Terri.
Wizkid also has lots of endorsement deals with brands in Nigeria and around the world.
Some of these brands include Glo, Pepsi, Ciroc, Nike, and Dolce & Gabbana. He is the 2nd richest musician in Nigeria for 2019.
- Networth (Forbes) – $16 Million
- Current Age(2019) – 26 years (21 November 1992)
- Record Label – Davido Music Worldwide (DMW)
David Adedeji Adeleke popularly referred to as Davido is a Nigerian singer, songwriter and record producer who is currently based in Nigeria, West Africa.
He was born in Atlanta, Unites States of America but was raised in Lagos State, Nigeria.
Davido was born into a rich family but he hasn’t allowed that to make him lazy as he’s is regarded as one of the most hardworking musicians in the Nigerian music industry.
So far, 2019 has been another great year for the DMW boss as he has achieved a lot in his entire music career this year.
Some of his achievements include getting various local and international awards, performing on various international stages, and selling out various shows around the world.
Davido also has a huge number of endorsements deals with various top brands back home here in Nigeria and internationally. Some of these brands include Infinix, Pepsi, MTN Nigeria amongst others.
These achievements have so far added a lot to Davido’s net worth as he is also ranked as one of the richest musicians in Africa(5th precisely).
He is the 3rd richest musician in Nigeria with an estimated net worth of over $16 Million.
- Networth (Forbes) – $15.6 Million
- Current Age(2019) – 39 Years (9 June 1980)
- Record Label – DB Record, GOOD Music, Mercury, Sony Music Entertainment
Oladapo Daniel Oyebanjo who is widely known as DBanj or Koko Master is a Nigerian born musician, singer, songwriter, entrepreneur, television personality, and rapper who is also based in Nigeria.
He adopted the name – DBanj from a combination of his first name, Dapo, and his surname, Oyebanjo.
Although DBanj doesn’t do more of music these days, you can be sure that his investments in Nigeria and abroad are keeping his net worth on the high side.
DBanj is also a brand ambassador for many brands in Nigeria and internationally. One of his companies – CREAM Platform was recently was valued to worth over $100,000,000 by an American firm.
He is currently one of the richest people in Africa and the 4th richest musician in Nigeria for 2019 with an estimated net worth of $14 Million.
5. 2Baba (2Face Idibia)
- Networth (Forbes) – $14 Million
- Current Age(2019) – 43 Years (18 September 1975)
- Record Label – Hypertek Digital
Innocent Ujah Idibia A.K.A 2Baba is a highly respected Nigerian singer, songwriter, record producer and entrepreneur who is based in Lagos State, Nigeria.
With over 20 years of active participation in the Nigerian music industry, it is no surprise that he makes it to our list of the top 10 richest musicians in Nigeria and earning the 5th spot on the list.
2Baba also has a huge amount of endorsement deals with various top brands in Nigeria and internationally. Some of these brands include Glo, Campari, Guinness, and many more others.
With an estimated net worth of $14 Million, 2Baba is regarded as one of the richest Nigerian hip-hop musicians.
6. Peter Okoye (Mr. P)
- Networth (Forbes) – $14 Million
- Current Age(2019) – 37 Years (18 November 1981)
- Record Label – P Classic Records
Although everyone’s favourite duo PSquare are no longer together, they are both doing fine on their own. Peter Okoye and his brother in the then PSquare used to occupy the first slot on the list of the richest musicians in Nigeria until their split.
Mr. P is one of the richest artists in Nigeria with a fleet of cars, houses, investments and endorsement deals to his name.
Peter Okoye is currently signed up with Olympic Milk, Kia Motors, and several other top brands on lucrative sponsorship deals.
7. Paul Okoye (Rudeboy)
- Networth (Forbes) – $13.7 Million
- Current Age(2019) – 37 Years (18 November 1981)
- Record Label – Rudeboy Records
Occupying the 7th spot on our list of the richest musicians in Nigeria, we have Paul Oloye who is professionally known as Rudeboy or King Rudy.
He is the other half of the defunct P-Square duo(the first being Peter Okoye – Mr. P).
With an estimated net worth of $13.7 billion, you can be sure that Rudeboy is doing well even after splitting up with his brother – Peter Okoye(Mr. P).
He has chosen to remain with his elder brother – Jude Okoye who had been the producer for the then P-Square duo.
Rudeboy also has a good number of sponsorship deals with various brands in Nigeria and abroad. He also embarks on shows in Nigeria, Europe, and America and shuts down the arenas at these places.
- Networth (Forbes) – $13 Million
- Current Age(2019) – 38 Years(15 August 1980)
- Record Label – Dem Mama(DM) Records
Nigerian legendary music star – Enitimi Alfred Odom who is popularly/professionally referred to as Timaya is one of the richest musicians in Nigeria 2019 and the 8th musician on our list today.
Although Timaya loves to keep a low profile as far as the Nigerian music industry is concerned, Nigerian music lovers can’t help it but always appreciate his style of music even from the beginning of his music career.
The former Plantation boys singer also has an estimated net worth of over $13 Million and 4.6 Billion when converted to naira.
Just recently, it was reported that the Dem mama records boss charges an estimated amount of 8 Million Naira to perform at a show which is called upon to perform… WOW!
Timaya also has many high-profit endorsement deals signed with top brands operating in Nigeria. Some of these brands include Nigerian TeleCo, Glo and Cognac brand – Hennessy Nigeria PLC e.t.c.
9. Banky W
- Networth (Forbes) – $9.7 Million
- Current Age(2019) – 38 Years (27 March 1981)
- Record Label – Empire Mates Entertainment
Occupying the 9th spot on our list, we have Nigerian R&B star – Mr. Olubankole Wellington who is widely known as Banky W. He is a Nigerian based singer, rapper, actor and politician.
The EME boss is one of the most bankable Nigerian artists for 2019. Banky decided to try his luck in politics by declaring his interest to run for the office of the Member House of Representatives for Eti-Osa Federal Constituency.
He did run for the post but became the first runner up even with a relatively unknown political party.
Before venturing into politics, Banky was and still is a singer, brand influencer and ambassador for various top brands like 9Mobile(formerly Etisalat), Samsung, Uber, and others with gains going into millions of Naira.
Banky W is happily married to popular Nigerian actress and model – Adesuwa Etomi and he’ s also a Nollywood actor, rapper, film producer, event host, public speaker amongst others. He’s also one of the most handsome musicians in the industry.
10. Olamide Badoo
- Networth (Forbes) – $8.9 Million
- Current Age(2019) – 30 Years (15 March 1989)
- Record Label – YBNL Nation
Olamide Adedeji who is popularly known as Olamide or Badoo is a Nigerian rapper and singer who mostly records music in his native language – Yoruba.
He is a Nigerian rapper who has been in the Nigerian music industry for so many years and he’s also one of the richest musicians in Nigeria for 2019 and the 10th artist in this list.
Olamide also has a good number of endorsement deals with various top brands in Nigeria. With an estimated net worth of $8.9 Million, you can be sure that Olamide is one of Nigeria’s most bankable musicians.
‘I Was Nearly Eaten Alive In A Village’ : Mr Ibu Shares Horrific Experience
Renowned Nigerian actor, Mr. Ibu known widely for his comic portrayal in movies has revealed how he was almost eaten alive by some cannibals in a remote place they went to shoot a movie.
Mr Ibu said that his colleagues had mistakenly left him behind at night after filming in the village when the near-death experience occurred. “My colleagues left me on set by mistake late in the night after shooting,” he told Daily Sun.
“However, the location manager had earlier admonished us to move in groups because, in the community, they eat human beings. However, it was quite late when we finished. We had two location buses and I was already sitting on the bus in front but because I was manager, I said let me organize the people on the bus behind before we moved.
“As I alighted, the bus in front zoomed off and before I made it to the second bus it also moved. I kept shouting as I chased both buses but nobody heard me and I was left alone.” Mr. Ibu said that his fear multiplied when he heard two male strangers speaking in a language he could understand, especially after remembering what the location manager told him.
According to him, the two men were discussing how tasty his flesh would be. The actor, born Mr Ibu explained that he approached the men and greeted them in the language they were speaking and they were surprised.
At this point, he said, one of the men told him to be prepared to run for his life as he was in danger. However, he revealed that a crowd kept gathering around him which heightened his anxiety.
Mr. Ibu said that it was at this time that his friends began to call out his name from afar.“They had returned just on time to rescue me with a team of policemen and vigilante. I was greatly relieved. The ordeal lasted for about two hours,” he disclosed.
Davido Shows Off His New House | WATCH
Davido is set to move into his new house at the plush vicinity of Banana Island.
This afternoon, the singer took to his Instagram stories to show off the crib which was built with an elevator.
In one photo he shared from inside the elevator, he wrote: ‘Always wanted to go up at the crib like this.’
Watch the video below.
Forbes Revokes Kylie Jenner’s Billionaire Status, Accuses Her Of Inflating Her Income
Kylie Jenner’s billionaire tag has been struck out by Forbes, months after being dubbed the world’s youngest billionaire.
Recall that in March 2019, the reality show star unseated Facebook’s Mark Zuckerberg, then 35, as the youngest-ever self-made billionaire (he was 23 when he made his first billion 11 years ago in 2008).
Forbes has now revoked the 22-year-old’s billionaire status, and also accused her of ‘lying about company figures and forging tax returns’ to reach the billionaire status in its report titled “Inside Kylie Jenner’s Web of Lies — and Why She’s No Longer a Billionaire”
The American business magazine which reviewed filings from Coty, the beauty giant which the mother of one sold 51 percent of her Kylie Cosmetics to in a deal valued at $1.2 billion in January 2020, found that Kylie’s beauty company “is significantly smaller, and less profitable than the family has spent years leading the cosmetics industry and media outlets to believe”.
Forbes further revealed that the numbers the Kardashian-Jenner family gave for Kylie Cosmetics were questionable, especially after comparing them to the numbers following Coty’s acquisition.
With this new information and the COVID-19 pandemic, Kylie’s net worth is now according to their calculations “just under $900 million.”
The report read;
“More than a third of that is the estimated $340 million in post-tax cash she would have pocketed from selling a majority of her company.
“The rest is made up of revised earnings based on her business’s smaller size and a more conservative estimate of its profitability, plus the value of her remaining share of Kylie Cosmetics—which is not only smaller than the Jenners led us to believe, but is also worth less now than it was when the deal was announced in November, given the economic effects of the coronavirus.
“Revenues over a 12-month period preceding the deal: $177million according to the Coty presentation, far lower than the published estimates at the time.
“More problematic, Coty said that sales were up 40% from 2018, meaning the business only generated about $125 million that year, nowhere near the $360 million the Jenners had led Forbes to believe.
“Kylie’s skincare line, which launched in May 2019, did $100 million in revenues in its first month and a half, Kylie’s reps told us. The filings show the line was actually “on track” to finish the year with just $25 million in sales.”
Stephanie Wissink, an equity analyst covering consumer products at Jefferies told Forbes;
“It’s fair to say that everything the Kardashian-Jenner family does is oversized. To stay on-brand, it needs to be bigger than it is.”
Forbes added that when they reached out to the Kardashian-Jenner family with “questions” on Kylie Jenner’s personal fortune which sits at just under $900 million (with more than a third of her earnings coming from the Coty sale), they stopped answering.
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