Rich List

Top 10 Richest Musicians in Nigeria 2022

Last Updated on January 4, 2022 by Akan

Last year Covid couldn’t stop these top 10 Richest musicians in Nigeria from stacking up some dough.

Also some new comers like Omah Lay and Bella Shmurda loss a lot of money because same Covid wouldn’t allow their fresh, young and vibrant audience shed some money love on them via show tickets sales and other related avenues.

2021 has been a slightly busy year, as it sees banger like “Fem” that was the anthem in the last “Endsars” protest in 2020 slow down, while “Essence” that was slow in growing in 2020 went over the roof making Big wiz once again the leader of the pack.

Burna Boy was Twice as Tall this year with the golden cup of Grammy in his already loaded shelves.

Burna boy top 10 richest nigerian musicians
Credit: Burna Boy Instagram

Olamide, Timaya and the Okoye brothers were on the low but with steady stream of nice songs which garnered some reasonable amount of money for them.

Bitcoin was at the center of things in the second quarter of the year, this makes some Nigerian musicians considered the novel means of investment.

To bring you this information about the richest musicians in the Nigeria music scene, we employed the same principles as Forbes and Fortune 500 analytical team.

With that said nothing much has changed from 2020, since 2021 witnessed few activities in the music scene.

Top 10 Richest Nigerian Musicians 2022

#1. Davido
Net worth: $32 Million Dollars

#2. Wizkid
Net worth: $30Million Dollars

#3. Burna Boy
Net worth: $28 Million Dollars

#4. Olamide
Net worth: $24 Million Dollars

#5. Patoranking
Net worth: $20 Million Dollars

#6. Timaya
Net worth: $18 Million Dollars

#7. Mr. P
Net worth: $16 Million Dollars

#8. Rudeboy
Net worth: $16Million Dollars

#9. Banky W
Net worth: $14 Million Dollars

#10. Phyno
Net worth: $10 Million Dollars

Please note that this is an estimate,  Because few of these musical icons send in their financial statements. However, considering due diligence observed while gathering this data we can beat our chest that we are close to the figure. Because Forbes Richest Persons data collation standard was used as one of our reputable reference.

Background of The Top 10 Richest Musicians in Nigeria

In The Early 90s nobody believed that Nigerian musicians will be earning any where from 100 million Naira a year.

The industry was so underrated and many musicians suffered a lot. Some of them we can’t here of again, while some hide there face due to shame.

Piracy and pirate guys in Alaba are one of the core reasons why artists could not make a reasonable living from their craft. they are the cause of the downfall of many musicians financials.

Its got so worst that musicians sometimes beg these guys to pirate their own songs. Just so that it could blow. but at the end they earn penny from their efforts.

Money Counter - Top 10 Richest Musicians in Nigeria
Credit: Pixabay

But today the case has change. New and old talented musicians are not smiling to the banks and shutting down clubs like Qlux and DNA. some are buying big mansions in big cities like Banana Island and Lekki Phase 1 for their great moms, while some are establishing big business like Wines and Lottery.

Now majority of Nigerian artists are amongst the top 10 richest musicians in Africa.

How Nigerian Musicians Make Their Money

There are several ways the richest musicians in Nigeria makes their money and amass a fortune while doing so.

  1. Music Sales
  2. Record Deals
  3. Publishing Deals
  4. Royalties
  5. Guest Appearances
  6. Concert and Festivals
  7. Endorsement Deals
  8. Sponsored Post on social media
  9. Insider Investing
  10. Merch Sales

What Cars Does The Richest Nigerian Musicians Drives

Being big requires you do big things and drive big costly cars made only for the rich. over the years as we conduct research on the top 10 Richest musicians in Nigeria we discovered that they all have thing in common and that is purchasing the same car brands.

below are the car brands Nigerian musicians love.

  • Mercedes Benz
  • Rolls Royce
  • Lamborghini
  • Porshe
  • BMW

Davido Profile

Top 10 Richest Nigerian Musician - Davido Net Worth
Credit: Davido/Instagram
Davido, Born in 1992 In Atlanta to a billionaire dad is the richest musician in Nigeria currently with a net worth of 32 million dollars.

The Afrobeat crooner who is also a producer ventured into the music scene with a heavy banger “Dami Duro” where he warned people not to stop him. because he is the son of a billionaire.

Davido has endorsed so many big corporations Like MTN, Infinix, Martell, Pepsi and a host of others.

(Side Note: we strongly believe that Davido is Forbes Richest Musician in Nigeria because the data is there to prove it and we are ready to assist Forbes when they are ready)

In November 2021 Davido distributed N250 million Naira to various charity organizations in Nigeria. The money was raised by both by him and his loyal friends in the industry. this act made CNN to give him a call asking what really happened.

Wizkid Profile

Top 10 Richest Musicians in Nigeria - Wizkid Net Worth
Credit: Wizkid/Instagram
Wizkid was born in Surulere Ojuelegba Lagos state. it was in this same city he found love for the afrobeat music which has now made him one of the biggest export from Nigeria and Africa as a whole. and also made him one of the richest male musician in Nigeria with an estimated net worth of $30 Million Dollars.

Finding his way back in the days, Wizzy once revealed that he doubled as a studio boy in Mo Dog Studio where he had the opportunity to meet top acts in those days. during this time he also gathered some experience in the music game and made some connections.

When its time for Machala to blow up, he never looked up. its has always been hits upon hits and also he has gather a massive following internationally.

Because of his huge brand, big companies like Pepsi, Techno, Guinness, Nike and so many others has approached Wizzy to be their brand ambassador.

Burna Boy Profile

Top 10 richest musicians in nigeria - burna boy net worth
Credit: Burna Boy/Instagram

Born Boy grew up in Port Harcourt and later traveled to the UK to further his studies.

he later came back to Nigerian where he found love in the Reggae Danceall genre which has turned him into the talk of the town locally and internationally.

His first debut single Like To Party was a smashed hit which took the “Run My race” crooner to places and enabled him to gather huge love and respect in the Nigerian music scene.

Burna has gather numerous awards and some endorsement deals till date since his emergence into the limelight.

Olamide Profile

Olamide Net Worth
Credit: Olamide/Instagram

Olamide was born and bread in Bariga a city in lagos where he found love for the rap game.

In the early days of his career Baddo worked with Id cabasa and Tony Payne who both gave him the platform on which he thrived upon.

After the passing away of Dagrin, Olamide took over the street of Lagos with his street jamz that later became the anthems of Lagos state and the intro of numerous top djs in the country.

Olamide rise to stardom  took everyone by surprise, but as he start to release hits upon hits and featured top ace musicians like wizkid, Davido, Timaya, Pphyno and many others, it became crystal clear that nothing can stand on the way of Baddoh.

Over the period of his career Olamide has had over a 50 hits jams that all got heavy loads of cash into his bank accounts.

Many show organisers made him the headliner of their events which cost a fortune. And many other companies approached him to become their brand ambassador, considering his high caliber status.

It has all been win, win, win for baddoh right from the emergence of the afro rap artist.

Patoranking Profile

Patoranking Net Worth acurees -2
Credit: Patoranking/Instagram

Patoranking who once hawked petty goods on the street of Lagos grew up in Ajegunle, a city where he found love for the music game.

Trying to showcase his talent to the busy Nigerian music

industry he had had to do several menial jobs to record his many under ground records of which many never see the light of day.

His break through came when he collaborated with Timaya and together they dropped a banger “Alubarika”…and that was the start of everything good in the life of the reggae dancehall artist.

Timaya Profile

Timaya net worth and bio - acurees
Credit: Timaya/Instagram

Timaya left Port Harcourt for Lagos to further his music career. juggling from one studio to the other he later found a stay with Eedris Abdulkareem who he back up for on several of his songs.

Later Timaya moved to be on his own and start recording songs. His first hit was “Dem Mama” a song he did to shed light on the impartiality happing in his home town in Bayelsa.

In the song he narrated how his small village was burnt down and the disaster happening in the south-south back in those days

With it heavy message behind it, the song quickly gained recognition amongst the people of Nigeria as a whole, both young and old could vibe to the song that was also packed with melodies and flavours that make a song unique.

For months the song was the talk of town. on this ground Timaya released another hit and it became a banger too. it also became a tradition for Timaya to keep dropping hits songs because it became clear that his vibrant ever growing fans are never getting tired of the Eberi Papa 1 of Bayelsa land.

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