Following an extensive research, these musicians by far are the richest in Nigeria not only for their budding music career but also the amount of money they gather from endorsement deals and the likes. No. 5 is especially shocking, find the full list below:
1) Peter and Paul Okoye
Peter and Paul Okoye, famously known as Psquare have stayed relevant in the music industry, snagging deals and headlining major shows and concert along the way. The brothers, who are ambassadors to several brands including telecommunication company, Glo which came with a Mercedes Benz G Wagon and Range Rover vogue , which costs not less than N25million, Olympic Milk alongside a paycheck of N250million. Skol beers and Kia Motors, are the richest musicians in Nigeria.
They reportedly charge a whooping $50,000 for shows. They own four houses; an omole estate house, an Ikoyi home, a banana island home and apartments in Buckhead in L.A. Paul, on his part owns a record label [Rudeboy Records] and a real estate business, while Peter, owns a budding football agency. Add all these with their over a million record sales, and other exotic cars worth over N200 million has Psquare’s estimated net worth at N5 billion.
Save for the thousand of foreign currencies he flaunts on social media, American born Nigerian singer, Davido AKA Son Of Mercy, stated clearly that asides his numerous assets, he has $2million in his bank account, which we think might be his trust fund [just saying] .
He is a brand ambassador for Closeup, Pepsi, formerly an ambassador for telecommunications company MTN, Guinness Nigeria and recently snagged a Sony endorsement deal reportedly worth $1million. He owns a Lekki mansion worth about N120 million and is at the verge of acquiring a new one, also believed to be worth several millions of Naira.
He also owns fleet of cars to include a Rolls Royce Phantom worth N100 million, a 2015 Range Rover Sport worth N35 million, a 2015 Audi worth N20 million, A Toyota Land Cruiser worth N28 million, Mercedes Benz G-class AMG Series worth over N40 million, Mercedes Benz Sedan AMG series worth over N50 million and a Porsche Carrera worth about N35-45million. He also owns two music labels, HKN, co-owned with elder brother and DMW, solely owned by him. Coupled with shows/concerts he performs at, record sales and royalties, Davido’s estimated net worth is N4 billion.
Currently riding on international stride and stars, Wizkid, comes in as number three on our list. From owning a Surulere house worth about N15 million to his Lekki home which is estimated at N65 million. Wizkid, asides his rumored soon to be made public deal with Sony, owns his own record labels, Starboy Records and Starboy Worldwide, which houses 5 musicians in total.
He was a brand ambassador for MTN where he was reportedly paid N45 million before sliding into the tent of rival telecommunications company Glo, where he was reportedly been paid N120 million untill recently. He also has a renewed two years Pepsi deal worth N140 million, and over a million sales in record.
Starboy, is an avid lover of automobiles and has quite a few luxury cars in his garage, they include; a Hyundai Sonata which costs about N6 Million, a BMW X6 worth N11 Million, a Mercedes 2012 Compressor which costs N9 Million, a Bentley reportedly worth N45 Million, a new Porsche Panamera worth N15 million, he got barely a month after crashing the old one and a Can-am supercharged bike. Wizkid is currentlyestimated at N3.5 billion.
‘Abule Sowo‘ crooner, Olamide AKA Baddo Sneh, is the fourth artiste on our list. Olamide, who first signed a mega deal with telecommunications company Etisalat in 2013, renewed the multi million naira deal in 2015. He is also snagged a deal with Ciroc which is reported worth close to N45 Million.
In 2013, he also became the brand ambassador for Guinness with the deal reportedly worth several millions of Naira. In 2014, he became the brand ambassador for SureBet 24/7, an online sport betting company for a whooping N20 million naira. He is the CEO of YBNL, a music label which currently houses singers Adekunle Gold and Temmi Ovwasa. Olamide, also makes money from shows and concerts with some being sold out. He charges between N3-5million per show bookings.
He is also the owner of two petrol filling stations and three houses; one on the island and the other two on the mainland. His luxurious home on the Island is reportedly worth N38 Million. The other two houses situated in Bariga are said to be worth over N20 Million each. He splashed a whooping N6 Million on a Toyota Venza automobile for his producer and owns a Mercedes G-Class worth N22 million, Range Rover sport worth about N15 Million and formerly owned a 2012 Model.
5) Timi Dakolo
Timi Dakolo, is the fifth atiste on our list. Since hitting the limelight by emerging winner at the inaugural season of West African Idol in2007, Timi Dakolo, has not only remained in the consciousness of the people but also his accountant. The ‘Wish Me Well’ cooner, is known for his love for luxury cars as his garage has 2 cars running into millions.
He owns a Chevrolet camaro which is worth about N8 million and a range rover sport worth N23 million. In 2014, Timi, made headlines with his valentine gift to wife, Busola, a completed building, where the family currently lives. On money made from music, this vocal powerhouse makes a lot of money performing at private and corporate events where he confirmed he gets paid handsomely.
Timi is one of the few artistes in the country who performs at a paid event almost every weekend in the year, with that, we can all imagine how fat his bank accounts are. His estimated net worth is about N1 billion.