The Nigerian music industry has taken the world by storm, with Afrobeats leading the charge. From local talent to global superstars, Nigerian musicians have become some of the richest and most influential figures in Africa and beyond. In 2024, the wealth and success of these artists continue to soar, driven by music sales, global tours, endorsements, and entrepreneurial ventures. Here’s a look at the Top 10 Richest Musician in Nigeria 2024.
Top 10 Nigerian Richest Musicians
- Burna Boy
- Wizkid
- Davido
- Don Jazzy
- Olamide
- Tiwa Savage
- 2Baba (formerly 2Face Idibia)
- Rema
- P-Square (Peter and Paul Okoye)
- Flavor
Burna Boy
- Net Worth: $100 million (estimated)
- Career Highlights: Burna Boy, also known as the “African Giant,” has consistently been a dominant force in Afrobeats. His Grammy-winning album Twice as Tall brought him global recognition. In 2024, he continues to dominate the global stage with sold-out shows at Madison Square Garden and other iconic venues.
Revenue Streams:
- Music sales and streaming.
- World tours and concerts, particularly his sold-out “Love, Damini” tour.
- Endorsement deals with brands like Pepsi and Nike.
- Investments in tech startups and real estate.
2024 Achievements:
- Burna Boy released a highly anticipated new album this year, which topped the charts internationally and solidified his position as one of the world’s biggest stars.
Wizkid
- Net Worth: $95 million (estimated)
- Career Highlights: Wizkid, often referred to as “Starboy,” is one of the most recognizable names in Afrobeats. His international collaborations with Drake, Beyoncé, and other A-list artists have propelled him into the global spotlight.
Revenue Streams:
- Major music deals and streaming revenue.
- International tours, including his “More Love, Less Ego” world tour.
- Endorsements with brands like Cîroc, Puma, and Tecno.
- Investments in real estate and other business ventures.
2024 Achievements:
- Wizkid’s latest tour was a huge success, grossing millions of dollars, and he continues to solidify his place as a global superstar with his entrepreneurial ventures.
Davido
- Net Worth: $80 million (estimated)
- Career Highlights: Davido is known for his hit singles like Fall and If, which have garnered billions of streams. He’s a multi-award-winning artist and one of the most influential Afrobeats musicians globally.
Revenue Streams:
- Music sales and global streaming.
- Performances across Africa, Europe, and the U.S.
- Lucrative endorsement deals with MTN, Infinix, and Guinness Nigeria.
- Owner of DMW (Davido Music Worldwide), his record label.
2024 Achievements:
- Davido has maintained his status as a chart-topping artist, and his “Timeless” album released earlier in 2024 has been widely acclaimed.
Don Jazzy
- Net Worth: $75 million (estimated)
- Career Highlights: As the CEO of Mavin Records, Don Jazzy is a renowned music producer and entrepreneur. His influence in the Nigerian music industry has been significant, having nurtured talents like Tiwa Savage, Rema, and Ayra Starr.
Revenue Streams:
- Revenue from Mavin Records.
- Music production and songwriting credits.
- Endorsement deals with Loya Milk, MTN, and others.
- Investments in real estate and tech startups.
2024 Achievements:
- Don Jazzy continues to lead Mavin Records to success with groundbreaking acts like Rema making waves globally.
Olamide
- Net Worth: $65 million (estimated)
- Career Highlights: Olamide is a rapper, singer, and CEO of YBNL Nation, a label that has produced stars like Fireboy DML and Asake. Known for his consistency in releasing hits, Olamide has a massive following across Nigeria and beyond.
Revenue Streams:
- Music sales and digital streaming.
- Endorsements with companies like Cîroc and Monster Energy.
- Investments in fashion and real estate.
2024 Achievements:
- Olamide has continued to push the Afrobeats envelope with his latest album, which was well-received both locally and internationally.
Tiwa Savage
- Net Worth: $60 million (estimated)
- Career Highlights: Tiwa Savage is one of the leading female figures in Afrobeats, with an international following. Her collaborations with global stars and her role as a strong female voice in the industry have made her a powerhouse.
Revenue Streams:
- Music sales and concert tours.
- Endorsements with Pepsi, Procter & Gamble, and others.
- Fashion ventures and investments.
2024 Achievements:
- Tiwa continues to dominate the charts and headlines with her latest album and her collaboration with U.S. artists.
2Baba (formerly 2Face Idibia)
- Net Worth: $55 million (estimated)
- Career Highlights: 2Baba is one of Nigeria’s most respected and veteran musicians. With decades of hits under his belt, he has maintained relevance in the Afrobeats scene.
Revenue Streams:
- Music catalog sales.
- Real estate investments.
- Endorsement deals.
- Social activism and philanthropy.
2024 Achievements:
- Although not as active musically as before, 2Baba’s legacy and business ventures keep him among the wealthiest.
Rema
- Net Worth: $50 million (estimated)
- Career Highlights: Rema is one of the fastest-rising stars in Afrobeats, gaining international acclaim with his global hit Calm Down. His music appeals to a wide audience across continents.
Revenue Streams:
- Streaming revenue from hits like Calm Down.
- Concert tours across Europe, Africa, and the U.S.
- Brand endorsements with fashion and tech companies.
2024 Achievements:
- Rema’s “Rave & Roses” tour and his global streaming numbers have contributed massively to his wealth.
P-Square (Peter and Paul Okoye)
- Net Worth: $45 million (combined, estimated)
- Career Highlights: The dynamic duo, after their reunion, have re-established themselves as one of Africa’s biggest acts. Known for their energetic performances and evergreen hits.
Revenue Streams:
- Reunion tours and concerts.
- Music sales and endorsements.
- Investments in real estate and hospitality.
2024 Achievements:
- Their sold-out reunion tour has been a major highlight, grossing millions globally.
Flavour
- Net Worth: $40 million (estimated)
- Career Highlights: Known for his highlife music and smooth vocals, Flavour has built a strong fan base both in Nigeria and internationally. His music appeals to lovers of traditional African sounds.
Revenue Streams:
- Music sales and concert earnings.
- Endorsements and investments.
2024 Achievements:
- Flavor’s consistent performances and loyal fan base have helped him maintain his position among the wealthiest Nigerian musicians.
Comparison with Previous Years
- In 2024, the Top 10 Richest Musicians in Nigeria remain largely consistent with previous years, though artists like Rema have climbed significantly due to international success.
- Burna Boy and Wizkid continue to dominate, fueled by their global reach and solid business strategies.
Trends in the Nigerian Music Industry
- The rise of Afrobeats on the global stage has dramatically increased the wealth of Nigerian musicians.
- Streaming platforms, international tours, and brand collaborations with global companies are key drivers of their financial success.
- With the world’s growing interest in African culture, these musicians are positioned to continue amassing wealth in the coming years.
The Nigerian music industry is a powerhouse, producing some of the richest and most influential artists in Africa. As Afrobeats continues to captivate the world, the Top 10 Richest Musicians in Nigeria like Burna Boy, Wizkid, and Davido are at the forefront, leveraging their talents and business acumen to build lasting legacies. The future looks even brighter for these stars, and their net worth will likely continue to rise in the years to come.
