Richest Musicians In Nigeria According To Forbes (2024)

Nigeria's music industry has flourished on a global scale, with many of its artists gaining international recognition and amassing substantial wealth. Forbes' 2024 ranking of the richest Nigerian musicians highlights the immense financial success of top Afrobeats stars, who have transcended borders through their talent, brand endorsements, and successful ventures. Here is a breakdown of the wealthiest Nigerian musicians this year:

1. Davido (Net Worth: $100 million)

Davido, born David Adeleke, ranks as the richest musician in Nigeria and Africa in 2024 with a net worth of $100 million. His wealth comes from his successful music career, sold-out international tours, and lucrative endorsement deals. Beyond music, Davido has diversified his investments, contributing significantly to his impressive fortune. His endorsement deals include partnerships with brands like Infinix Mobile and Martell Cognac​

2. Don Jazzy (Net Worth: $50 million)

Michael Collins Ajereh, better known as Don Jazzy, is a renowned producer, songwriter, and entrepreneur. With a net worth of $50 million, he is the second richest Nigerian musician. Don Jazzy's wealth stems from his production company, Mavin Records, which has launched the careers of many successful artists. His investments and endorsement deals with Loya Milk and others have further boosted his fortune

3. Burna Boy (Net Worth: $30 million)

Burna Boy, born Damini Ogulu, is an international sensation known for his Afro-fusion music. With a net worth of $30 million, Burna Boy has accumulated wealth from his music sales, international tours, and endorsement deals with brands like Star Lager Beer and Globacom. Burna Boy's Grammy-winning album Twice As Tall and his performances at prestigious events such as Coachella have made him a global icon​.

4. Wizkid (Net Worth: $25 million)

Ayodeji Balogun, popularly known as Wizkid, ranks fourth on the list with a net worth of $25 million. Wizkid's success is rooted in his chart-topping hits, brand partnerships with major corporations like UBA, and successful tours. His collaborations with global stars such as Beyoncé have further elevated his status as one of the richest and most influential musicians in Nigeria​

5. Rema (Net Worth: $15 million)

Rema, born Divine Ikubor, is a fast-rising star who has solidified his position in the music industry, boasting a net worth of $15 million. Known for his distinctive sound and global hits like Calm Down, Rema's youth and talent have propelled him into the ranks of Nigeria's wealthiest musicians. His endorsement deals and international success are contributing factors to his growing fortune​.

Conclusion

These musicians have not only revolutionized the Nigerian music scene but have also become global ambassadors for Afrobeats, contributing to the genre's international popularity. Their wealth is not only a reflection of their music careers but also of their strategic business ventures and brand endorsements.

This list is dynamic, as the industry continues to evolve, and emerging artists like Rema are expected to challenge the dominance of the older stars in the coming years.