April 18, 2024

Top 10 Richest Musicians in Nigeria: Assets and Career Successes


Top 10 Richest Musicians in Nigeria: Assets and Career Successes

The most populous country in Africa, Nigeria is a country blessed with different kinds of talent and the music industry has been churning out some of the very best across the country, with these talents going on to become some of the biggest stars and celebrities in Nigeria and across the world. Music has really projected numerous young and dedicated Nigerian talents from grass to the life of luxury. It is therefore only proper that we bring to you the list of top ten richest musicians in Nigeria and their net worth with the type of cars they drive. Enjoy!

10. Banky W
Making the 10th position in this list is none other than Banky W whose original name is Olubankole Wellington is a top African musician and also a great actor. He was born in the United States but returned with his parents as a child to their homeland, Nigeria where he had his basic school. Banky W decided to move back to America; to have his higher education and would later return in 2002 when he began his music career in earnest. Banky W is not the type of man who likes showing off
In building a career out of music, the then budding music star started up his own music Label along with his longtime friend, Tunde Demuren which they called the Empire Mates Entertainment (E.M.E). That Label was super instrumental in bringing up the world famous Star Boy Wiz-Kid. Banky has had a really successful career which has seen him release five studio albums and has featured in numerous music projects of other big stars across the country. Banky has also tried out acting and has stared in the popular Wedding Party, a movie set he reportedly met his beautiful wife. Banky W is now going political and has even contested for a position in the nation’s House of Representatives in last general election, though that effort was unsuccessful.
Olubankole Wellington is married to Adesua Etomi, the sultry Nollywood actress and they own a mansion along Admiralty way in Lekki phase 1, Lagos. He has bagged a lot of awards in the R&B music category since 2006. Banky has not only conquered the music industry but has done that with a number of awards to back his claim as one of the greatest musical acts to come out of the country.
Banky W. cars
Although being one of the richest musicians in Nigeria, Banky W. does not show off so much about his personal belongings. He was once spotted driving his 2008 Range Rover Sport (₦90 million) and a Toyota Prado (₦37 million) another time. People expected he would drive fancier cars like many other celebrities but he felt “what good is owning a Rolls Royce, if I’m still paying rent on the house I park it in?”

9. Phyno
Spotting our number 9 position is Chibuzo Nelson Azubuike aka Phyno. He was born on the 9th of October 1986. He reportedly coined his stage name Phyno from the word Phenomenal, which highlights his own taste and brand of music. Phyno is a man with different talents that extends even to the academic world. The level of his education with a degree in Public Administration is enough to get you thinking that he should not have become a musician; but here he is, a very successful musician. Undoubtedly, deciding to do music was a good move by Phyno as this has thrown him to the spotlight.
With more than 15 years of singing and composing, Phyno becomes one of the most iconic figures in the industry. Phyno began his musical career in 2003 and has remained a very successful producer as well, crafting exciting music beats for top musicians like Flavour, Mr. Raw, and Timaya to mention just a few. The boss of Penthauze has so many albums to his name, and collaborations with top music stars in Nigeria.
He hails from Anambra State being from a family of five, he is the fourth child with an only brother and all elder sisters. He was raised at Enugu State where he completed his schooling and started his music career. He is a very close friend of Olamide Baddo, as they both carry the pride of their local identities being the Igbo and Yoruba languages respectively. Phyno has got about five proper awards like the best collabo, song of the year awards, and others amidst many nominations in different musical categories.

Phynos cars and houses
Being one of the richest musicians in Nigeria, Phyno owns many extravagant assets such as the 3 bedroom duplex worth about N170 million at Chevy View Estate, Chevron Drive in Lekki, and another mansion at Enugu State. He also owns expensive cars including a Rolls Royce Phantom:
Rolls-Royce Phantom (~₦204m)
Lamborghini Gallardo Spyder (₦74.6 million – ₦117.9 million)
Pollaris Slingshot (~₦7.3 million)
Bentley GT Coupe (~₦72.7 million)
Range Rover Sports (₦84 million – ₦90 million)
Toyota Avalon (~₦11 million)


9. Burna Boy
Joining Phyno at the 9th spot in this compilation is controversy rave of the moment, Burna Boy. How many of you knew that this heavy Yoruba language crooner is actually a Port Harcourt boy. Well Burna Boy whose real name on the books is Damini Ebunoluwa Ogulu is originally an indigene of Mbiama in Ahoda West LGA of Rivers State. Burna was born in his home state of Rivers, Port Harcourt precisely before his parents made the 9 hour long relocation trip from Port Harcourt to Lagos.
His parents’ relocation to Lagos was possibly the best move for Burna’s music career, as the biggest names and best resources are domiciled in Lagos. So it made it super easy for Burna to sign his first deal with Aristokrat Records with whom he released his first studio album titled “the L.I.F.E. “
Burna Boy would go on to release three more Albums and mix tapes after leaving Aristokrat Records for Spaceship Entertainment, a Record Label he personally founded in 2015.
His music career has been a super success with the young man making global waves and is currently Nigeria’s hottest international music export. He only recently lost the 62nd Grammy Award to Angélique Kidjo in January but still clinched some really big personal awards in the year just ended. Hes surely one of the richest musicians in Nigeria 2020.

Burna Boy cars and houses
Early this year, Burna Boy threw the internet into frenzy with the sharing of the video of his massive multimillion naira Lekki mansion. The mansion is a sprawling 8 bedroom edifice with a massive swimming pool to match its class.
When it comes to cars, the music superstar has a very crazy taste and makes sure he keeps to the celebrity tradition of showing off expensive and extravagant personal effects. Only last December, the Odogwu crooner took possession of two very expensive and hot autos. He first showed off his Red hot Rolls Royce Dawn Convertible with a manufacturer stated retail price of about ₦200 million. And as if that was just child’s play, a few weeks later Burna went ahead to show off his crazy fast Latte grey Ferrari 458 Italia. The supercar is reportedly worth a whopping ₦84 million asking price.
Other cars in his intimidating garage includes:
Bentley Continental (₦164 Million)
Mercedes Benz G-Wagon (₦28 million)


8. Timaya
The plantain boy as Timaya always calls himself, duns our number eight position. He was born on the 15th of August, 1980. His real name is Initime Alfred Odom who started a music group called Dem Mama Soldiers which is what he used as a platform to set off on his musical career. The King of Dancehall in Nigeria began his music career from the lower ranks and even was a backup singer for some musicians before going solo with the help of K Solo.
His music career saw the release of his first song professionally in 2005, titled True Story after which subsequent ones surfaced like Gift and Grace released in 2008 as well as De Rebirth. He now owns the DM record label which signed King Perry after the likes of Patoranking and Runtown had been groomed to shine. This music star has 3 children from two women; Timaya’s talents speak through his awards and worth, as he has won a list of Reggae/ Dancehall awards.

Timayas cars and houses
Timaya has a mansion worth ₦250 million at Lekki, Lagos State. If you are an active follower of Nigerian artists on Instagram, you would have been surely informed of his 3 Mercedes G-Wagon cars in different colors which once went viral on the social media platform. Beside the Benzs, Timaya’s car collection is enviable with other expensive rides, see below:
Porsche 911 Carrera (~₦42 million)
2 Range Rover Sports (₦84 million – ₦90 million)
Mercedes-Benz G55 AMG (₦60 million – ₦85 million)
Mercedes-Benz GLE (₦20 million – ₦22 million)
Bentley Continental GT (~₦76 million)
Lexus LX570 2015 (₦29,000,000 – ₦39,000,000)
Lexus GX 460 (₦25 million – ₦42 million)

Not only a proud owner of exotic vehicles, Timaya has generous hands as well. The musician once presented his labal signee with a Ford Dodge Charger 2013 as an early Christmas gift.


7. Olamide
Olamide Adedeji was born on March 1989 at Bariga L.G.A, Lagos State. He maintained his first name on stage but has gotten the nickname, Baddo as a badge for his street energy down on his songs’ lyrics. The way he infuses the Yoruba language into his music, helped him build a huge fan base and followership across western Nigeria especially Lagos. Olamide is confidently sitted at the number seven position in the list of richest musicians in Nigeria 2020.
Besides his income from making music, he earns money from advertisements as well
The Ijebu native started out with Coded Tunes label, but currently puts a lot of effort to raise a few other artists through his YBNL record label. Baddo gathers more of his money through entertainment events and shows where he charges in millions of Naira and his brand ambassador deals with companies like Guinness, GLO, Ciroc, etc.
This music star has two kids by his girlfriend, Aisha Suleiman; and he has a house in Lekki phase 1, Lagos. He has bagged so many awards in the Nigerian music industry as Best Indigenous Artist, Album of the year and many others; as well as many nominations.

Olamides cars and houses
Being the 7th richest musician in Nigeria, Olamide owns 2 mansions in Lekki and Bariga, Lagos and a flashy garage with pricey cars including:
Mercedes-Benz G Wagon (~₦23 million)
Range Rover Sports V8 (₦84 million – ₦90 million)
Rolls-Royce Phantom (~₦204 million)


6. 2Baba
This Jos born music star, real name Innocent Ujah Idibia and born on the 18th of September, has made his way into our top ten richest musicians in Nigeria. The way Tu Baba rose from nothing to something and then become one of the best Afropop singers in Africa has been nothing short of amazing and has been a motivation for so many young people across the continent.
His music career has continued to flourish since he went solo from the Plantashun Boiz group he started with. Tu face was a top signing for Kennis Music early in his career with whom he released the first album that brought him to limelight in 2004 with the famous ‘African Queen’ song. He has won himself awards like the Headies, MTV Music Awards, and BET Awards. In his younger days, TuBaba was more of a Casanova and ended up with 5 kids from 3 different women before he got married to Annie Idibia whom he has 2 girls with.


2Faces cars and houses
Tuface owns 2 mansions in Lagos, as well as relaxation lounges at Lagos Island, Festac, and Ikeja. He is not very open about his rides, but here are the cars that were caught ridden by 2Face:
Chevrolet Corvette Coupe (~₦45million)
Ferrari Coupe (₦57 million – ₦80 million)
Toyota Land Cruiser Prado (₦30 million – ₦52 million)


5. Tiwa Savage
Tiwatope Savage was born on the 5th of February 1980 in Isale Eko, Lagos State. The music superstar is a graduate of Accounting from the University of Kent and is also a graduate of Berklee College of Music where she obtained a degree in music. Tiwa began her music career much more as a musical backup vocalist which she did until 2011 when she decided on starting off as a full blown brand by releasing her first single Kele Kele Love the same year. Tiwa Savage will later link up with Mavin records owned by famous music producer Don Jazzy in 2012. She is the proud occupant of the 5th position in this list, and merits it by all standard.
Tiwa’s life has not been devoid of controversies especially involving her marriage. The music star married her longtime manager and friend, Tee Billz Balogun in 2013, but the marriage began experiencing some unfortunate private turbulence that later became public knowledge sometime in 2016. Their marriage was blessed with a boy that Tiwa says melts her heart.

Tiwa Savage Cars and houses
Sometime in 2018, Tiwa Savage reportedly purchased a ₦75 million mansion in the highbrow Richmond Gate Estate in Lekki. This was actually the singers first house and it’s a beauty worth the price tag. On the car’s front, the singer owns a few very luxurious pieces with the most recent being customized Mercedes Benz V250 worth a whopping ₦60 million. It is worthy of note that the 2019 Mercedes Benz V250 has a starting price of about 32 million way lower than Tiwa’s Customized piece which costs almost double. The singer is known to have purchased a Red Volkswagen EOS Convertible in 2011 and also has a 2013 model Toyota Prado SUV which was a wedding gift from Don Jazzy at her white wedding ceremony in Dubai.
Mercedes Benz V250 (₦60 million)
Red Volkswagen EOS Convertible (₦3.8 million)
Toyota Prado SUV (₦17.42 million)


4. Peter and Paul Okoye
On the number four spot in this chart is the duo of Peter and Paul Okoye of P-Square fame, though now defunct, it is difficult to separate the image these sensational pup stars had built over the years as one entity, netting an incredible huge fan base in the process with total control of the social media space. A culmination of their combined asset earned them our number four spot.
The twin music artistes, who became stars from standing together to form the P-Square identity, were born in November 1981; and had successfully built their music career. They effectively set up a band, but they are currently separated while the majority of fans still accept them as one bond.

Mr. P or Peter Okoye and his brother made a great legacy in the Nigerian music industry
Peter or Mr. P as he is popularly known had made ambassadorship deals with companies like Kia Motors as well as Olympic Milk. He is married to Titilola Omotayo, and they have a daughter and a son.
Most of the musical achievements which he made were done while he was still with his twin brother Paul Okoye. They had won so many awards to be nominated as Artists of the Decade. The big question still on so many lips is, what is P Square net worth separated or not? Well lets have a look at their cars!!!

Peter Okoyes cars and houses
Mr. P has a mansion in Lagos, Nigeria, and another one in Atlanta, USA. He is also a real car collector. He owns exquisite cars that are not inferior to any celebrity, including:
2 Range Rovers (₦50 million – ₦82 million)
BMW X6 (₦23.5 million – ₦28 million)
Dodge Challenger (₦10.8 million – ₦22 million)
Porsche 718 Cayman (~ ₦22 million)
Mercedes AMG GL63 (~₦45 million)
Bentley Mulsanne (~₦125 million)
Jeep Wrangler (~ ₦12.6 million)

Paul Okoye, currently known as Rude Boy is married to his beautiful lover, Anita Isama who he had been with for a long time before getting married. They have 3 kids, the first son and a set of twins – 1 boy and 1 girl. He has released some songs since the PSquare separated.
Paul Okoyes cars and houses
This star artist has houses in Nigeria and outside the country, and none of the houses are less than mansions. P Square group was known to own a private jet; but since their break apart, no news has been heard about the jet but one thing for sure is that Paul has joined the list of Nigerian celebrities who drive Rolls-Royces.
Paul’s garage has fewer cars than his brother’s but costs way more with 2 Rolls-Royces:
Rolls-Royce Phantom (~₦204 million)
Rolls Royce Ghost (₦191 million – ₦247 million)
Land Rover Range Rover (₦50 million – ₦82 million)
Lamborghini Gallardo (₦74.6 million – ₦117.9 million)

3. Don Jazzy
Known for his wonderful music production, stage razzmatazz, and hard work incorporated with his persistent ability to easily make up sound business relationships both in Nigeria and across the border, Don Jazzy spots our 3rd position in this list. Don Jazzys full name is Collins Michael Ajereh, and he hails from Umuahia in Abia State, and was born on the 26th of November, 1982. Don Jazzy is unarguably the richest music producer in Nigeria.
He started his big music career working with Dbanj to make various hit tracks as Mo’hits record before they went their separate ways in 2012. After which he created the new record label Mavin Records. Don Jazzy has effectively groomed and established several superstars like Wande Coal, DPrince, Tiwa Savage, Reekado Banks and many more. Don Jazzy includes his deep voice in the music often, this touch adds a spectacular note even as he produces the beats for hit songs.
His career has brought him awards as a top music producer. Don Jazzy is not married despite his age, he focuses on making more good music and raising more stars in the Nigeria music world.
Don Jazzy’s cars and houses
Don Jazzy has 3 mansions, one at Lekki, one in Banana Island, Lagos and another at Los Angeles, USA. He also rides exotic cars including:
Porsche 911 Carrera (~₦42 million)
Bentley Continental (~₦25 million)
Cadillac Escalade (~₦27.2 million)
Mercedes Benz E350 (~₦20 million)

2. Wizkid
Adorning our second position is our diamond rated songbird, Wizkid, he is such a unique and talented musician who started right from a very young age. One surprising aspect of this young musician is the way he went global, collaborating with some of the biggest names in international music. His real name is Ayodeji Ibrahim Balogun, born on the 16th of July, 1990 in Surulere, Lagos. The 30-year-old star is the first Nigerian musician to rise up to be recognized in the Guinness Book of World Record for the most played song on Spotify. This is as a result of the song he did with Drake titled One Dance.
Many might feel absolutely jealous with Wizkid for his success from a very early age.
He began his big career with E.M.E records and released the ‘Superstar’ album that contained a hit track “Hola at Your Boy”. The song gave him the award for ‘next rated artist’ at the Headies, and he continued rising from there. He now owns the Starboy Entertainment and has not stopped giving good music to his fans.
The Starboy boss is not married, but has two children from different women, and he has been in series of controversies with a few other artists like his former boss – Banky W, Davido, Olamide and a few others.

Wizkid’s Cars and houses
Wizkid has a ₦13 million mansion in Surulere, Lagos and another one in Los Angeles. Wizkid net worth Forbes estimated value stands at about ₦11.69 Billion. The music superstar, who also has for himself private jets, maintains a car collection that is full of really expensive models.
Lamborghini Urus (₦80 million)
Porsche Panamera (~₦50.8 million)
Used Mercedes Benz G63 AMG (₦55 million – ₦65 million)
BMW X6 crossover (₦8.7 million)

1. Davido
Here comes the first on our list of the top 10 richest musicians in Nigeria. Davido, real name David Adeleke, born in Atlanta to a wealthy Nigerian family. His father, Dr. Deji Adeleke is a co-founder of the Adeleke University in Osun State and the CEO of Pacific Holdings Limited. The song Omo baba Olowo brought him stardom, as it went viral especially in Africa. He made some deals with companies such as AXE, Infinix, and a lot of others.
His music career started with the KB International group with his first album “Omo Baba Olowo”. He has featured both Nigerians and foreign stars, and these moves have brought him to the top class position in the industry. Davido co-owns the HKN music record with his brother, and they have artists like Peruzzi and some others signed to the label. Davido has bagged multiple awards in his music career from the Headies, MTV music, and a lot more.
Davido was born on the 21st of November, 1992 and is the youngest artiste in the list of richest Nigerian musicians. Davido is currently engaged to Chioma the mother of his son whom he gifted a ₦45 million Porsche as a birthday gift few years back. Before dating Chioma, he had two daughters with different ladies.
This iconic superstar also featured in Forbes list of top 10 richest musicians in Africa 2020 and the rich celebrity has signed with renowned world music label, Sony Records. David has toured the continent with his crew which he calls the 30 Billion Gang.
One of his hit tracks If and Fall have more than 60 million views on Youtube alone. David in an interview said he raked up $1m for those views.

Davidos cars and houses
Just like how he is advancing in the music industry, you can say Davido’s house and the car is second-to-none among Nigerian musicians. He has two mansions in Lekki, Lagos, a getaway mansion in Georgia, USA and his latest breathtaking mansion in Banana Island, Lagos. Davido’s car collection is dazzling with:
Rolls Royce Cullinan 2019 (~₦350 million) (rumored)
Bentley Bentayga (₦108 million)
Bentley Continental GT (~₦95 million)
Porsche Panamera Turbo S (~₦22.8 million)
Range Rover Sports (₦84 million – ₦90 million)
Range Rover SV Autobiography (₦98 million)
Chevrolet Camaro GS (₦9.4 million)
Audi R8 (₦23.4 million)
Audi Q7 (₦12 million)
Mercedes-AMG GLS63 (~₦45 million)
Mercedes G-Wagon (~₦21 million)
Toyota Land Cruiser (~₦30 million)

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