Nigeria’s music industry has always been a force to reckon with, producing chart-toppers that resonate globally. As we dive deeper into 2023, it’s clear that some artists are not just making waves musically but are also building impressive financial empires.
In this article, we’re shining a light on the top 10 richest musicians in Nigeria for 2023. Names like MR EAZI, with his groundbreaking billion-dollar net worth, and DAVIDO, a constant fixture in both music charts and business headlines, dominate the list.
Artists such as WIZKID, BURNABOY, and TIWA SAVAGE have given us anthems that define generations, all while smartly capitalizing on their brand. The industry veterans like DON JAZZY and the iconic PETER and PAUL OKOYE have shown that longevity in music can be both artistically fulfilling and financially rewarding.
From the meteoric rise of REMA to the consistent hits of OLAMIDE, we celebrate these musicians for their art, their savvy business moves, and the fortunes they’ve built along the way.
Here’s a look at the top 10 richest musicians in Nigeria for 2023 and their net worth.
10 Richest Nigerian Musicians 2023
| Rank | Musician | Net Worth |
|---|---|---|
| 1 | MR EAZI | $1 BILLION |
| 2 | DAVIDO | $100 MILLION |
| 3 | WIZKID | $90 MILLION |
| 4 | BURNA BOY | $80 MILLION |
| 5 | OLAMIDE | $70 MILLION |
| 6 | DON JAZZY | $68 MILLION |
| 7 | PETER OKOYE (OF P-SQUARE) | $60 MILLION |
| 8 | PAUL OKOYE (OF P-SQUARE) | $50 MILLION |
| 9 | REMA | $40 MILLION |
| 10 | TIWA SAVAGE | $35 MILLION |
1. Mr Eazi – $1 Billion
MR EAZI stands out not just for his unique sound but also for his impressive financial milestones. With a net worth of a whopping $1 billion, he comfortably sits atop our top 10 richest musicians in Nigeria for 2023 list.
His rise to fame can be traced back to his introduction of “Banku music”, a delightful fusion of Ghanaian beats with Nigerian rhythms.
This signature sound didn’t just earn him fans worldwide but also played a pivotal role in building his fortune.
But MR EAZI isn’t just a musician; he’s a visionary. His brainchild, emPawa Africa, is a testament to his entrepreneurial flair.
This platform, dedicated to unearthing and nurturing young African talents, has further solidified his position in the industry.
Names like Joeboy and J.Derobie, now household names, owe their success to emPawa’s mentorship.
Navigating the dynamic landscape of the music industry, MR EAZI has shown an uncanny ability to stay ahead of the curve. From the era of CDs to the dominance of streaming platforms, he’s remained a constant, with tracks like “Leg Over” racking up millions of streams on Spotify and YouTube.
Beyond his music, MR EAZI’s lifestyle mirrors his success. His love for luxury is evident in his choice of cars, homes, and even fashion. Whether it’s cruising in a Rolls Royce or donning designer outfits, he truly embodies the success of the Nigerian music industry in 2023.
2. Davido – $100 Million
DAVIDO, often dubbed the ‘Omo Baba Olowo’ (son of a wealthy man), has proven time and again that his success isn’t just a product of his affluent background but a result of sheer talent, hard work, and strategic moves. With a net worth standing at $100 million, he’s a dominant figure in our top 10 richest musicians in Nigeria for 2023.
From his breakout hit “Dami Duro” to international collaborations with artists like Chris Brown, DAVIDO has consistently delivered chart-topping tracks. His music, a blend of Afrobeats, hip-hop, and traditional Yoruba rhythms, has garnered him fans from Lagos to Los Angeles.
But DAVIDO’s influence extends beyond the microphone. His record label, DMW (Davido Music Worldwide), has been instrumental in shaping the careers of several artists, including Mayorkun and Dremo. This venture not only showcases his eye for talent but also his business acumen, further boosting his financial stature.
DAVIDO’s journey in the music industry is a testament to adaptability. He’s seamlessly transitioned from the age of album sales to the digital era, with hits like “Fall” and “If” amassing millions of streams on platforms like Apple Music and Spotify.
Living up to his status, DAVIDO’s lifestyle is nothing short of opulent. Known for his love for luxury cars, his collection boasts of brands like Lamborghini, Bentley, and Porsche. His philanthropic efforts, including scholarships for students and donations to orphanages, highlight the heart behind the superstar, making him a revered figure in the Nigerian music scene in 2023.
3. Wizkid – $90 Million
WIZKID, affectionately known as ‘Starboy’, has become a beacon of success in the Nigerian music industry. With a net worth of $90 million, he’s not just a star in Nigeria but a global icon, securing his spot in our top 10 richest musicians in Nigeria for 2023.
From local hits like “Holla at Your Boy” to international collaborations with the likes of Drake in “One Dance”, WIZKID’s musical journey is a blend of local authenticity and global appeal. His sound, deeply rooted in Afrobeats with a sprinkle of reggae and pop, has made him a favorite on both local radio stations and international festivals.
Beyond his vocal prowess, WIZKID’s strategic moves in the industry are commendable. His record label, Starboy Entertainment, has been a launchpad for several artists, further emphasizing his role as a leader and mentor in the music scene.
WIZKID’s adaptability is evident in his evolution over the years. From the days of physical album sales to the dominance of digital streaming, he’s remained relevant and in demand. Tracks like “Joro” and “Fever” are testament to his timeless appeal, racking up millions of streams across platforms.
Matching his musical success, WIZKID’s lifestyle is one of luxury and panache. His affinity for high-end brands, luxury cars, and prime real estate showcases the life of a superstar in full swing.
Yet, his initiatives, such as supporting upcoming artists and contributing to community projects, show the depth of his character, further solidifying his place as a key figure in the Nigerian music narrative in 2023.
“Music is a universal language, and I’m proud to be representing Nigeria on the global stage.” – Wizkid
4. Burna Boy – $80 Million
BURNA BOY, the self-proclaimed ‘African Giant’, has truly lived up to this title, both in musical stature and financial might. With an impressive net worth of $80 million, he’s a force to be reckoned with, firmly establishing himself in our top 10 richest musicians in Nigeria for 2023.
His music, a fiery blend of Afrobeats, dancehall, and reggae, has set him apart in a crowded industry. Tracks like “Ye” and “On the Low” have not only topped charts in Nigeria but have also gained massive traction internationally, showcasing his global appeal.
But BURNA BOY’s journey is more than just hit tracks. His album, “Twice as Tall”, not only won him a Grammy but also solidified his position as a global ambassador for African music. This recognition has undoubtedly contributed to his soaring net worth and international acclaim.
Beyond the stage and studio, BURNA BOY’s business ventures and endorsements add to his financial portfolio. Collaborations with international brands and appearances in global events have further boosted his brand value.
Living up to his superstar status, BURNA BOY’s lifestyle is a blend of African roots and global luxury. Whether it’s his unique fashion sense, which often marries traditional African styles with contemporary flair, or his collection of luxury cars and properties, he embodies the success story of modern African music.
His commitment to social causes, especially in advocating for African unity and rights, adds another layer to his persona, making him not just a musical giant but also a revered figure in the Nigerian music landscape in 2023.
5. Olamide – $70 Million
OLAMIDE, often referred to as ‘Baddo’, has become synonymous with street anthems and a sound that resonates deeply with the Nigerian populace. With a net worth of $70 million, he’s undeniably one of the financial heavyweights in our top 10 richest musicians in Nigeria for 2023.
From hits like “Wo” to “Science Student”, OLAMIDE’s music captures the pulse of the streets, blending indigenous Yoruba elements with contemporary beats. His ability to consistently release chart-toppers has not only earned him a massive fan base but also contributed significantly to his financial success.
But OLAMIDE’s influence isn’t limited to his own music. His record label, YBNL Nation, has been a springboard for several artists, including the likes of Fireboy DML and Adekunle Gold. This venture showcases his commitment to nurturing new talent and his vision for the future of Nigerian music.
OLAMIDE’s journey in the music world is marked by adaptability. He’s seamlessly transitioned from the era of CDs to the digital age, with his albums and singles gaining millions of streams across platforms like Apple Music and Boomplay.
Embodying the essence of a true Nigerian superstar, OLAMIDE’s lifestyle is a testament to his success. His love for luxury cars, designer brands, and prime real estate is well-documented.
Yet, his initiatives, such as supporting local talents and contributing to community projects, highlight the heart and soul behind the superstar, further cementing his legacy in the Nigerian music scene in 2023.
6. Don Jazzy – $68 Million
DON JAZZY, the maestro behind many of Nigeria’s biggest hits, has not only shaped the sound of the nation’s music but also built an empire that contributes to his impressive net worth of $68 million. His influence and financial acumen earn him a distinguished spot in our top 10 richest musicians in Nigeria for 2023.
Starting with Mo-Hits Records, which he co-founded with Dbanj, DON JAZZY set the stage for a new era in Nigerian music. However, it was the establishment of Mavin Records in 2012 that truly solidified his status as a music mogul. Under this label, artists like Tiwa Savage, Reekado Banks, and Rema have flourished, adding to the label’s success and, by extension, DON JAZZY’s wealth.
His production skills are legendary. From Wande Coal’s “Mushin 2 Mo’ Hits” to D’banj’s “Oliver Twist”, DON JAZZY’s touch turns songs into gold. In the streaming era, tracks released under his guidance, like Rema’s “Calm Down”, have achieved massive streaming numbers, further showcasing his relevance in modern music.
Beyond music, DON JAZZY’s lifestyle reflects his success. His collection of luxury cars, including a Bentley Continental Flying Spur and a Range Rover Sport, is a testament to his achievements.
Yet, it’s his humility, philanthropic efforts, and dedication to nurturing new talent that make him a beloved figure in the Nigerian music industry in 2023.
7. Peter Okoye (of P-Square) – $60 Million
PETER OKOYE, one-half of the legendary duo P-Square, has carved a niche for himself both as a part of the iconic pair and as a solo artist. With a commendable net worth of $60 million, he stands tall in our top 10 richest musicians in Nigeria for 2023.
P-Square, with hits like “Personally” and “Alingo”, dominated the African music scene for over a decade. Their harmonious blend of Western and African rhythms made them a household name not just in Nigeria but across the continent. The duo’s success significantly contributed to Peter’s wealth.
However, post the P-Square era, Peter, now known as Mr. P, embarked on a solo journey. Tracks like “Cool It Down” and “One More Night” showcased his versatility and proved that he could hold his own even outside the duo.
Beyond music, Peter’s business ventures, including a reality TV show and endorsements with brands like Olympic Milk and Kia Motors, have played a role in his financial success. His keen sense for business, combined with his musical talents, makes him a force to reckon with in the industry.
Living a life befitting his superstar status, Peter’s penchant for luxury is evident. From his palatial homes to a fleet of high-end cars, he enjoys the fruits of his labor.
Yet, his involvement in charitable causes and his dedication to mentoring upcoming artists show a side of him that’s grounded and connected to his roots, further solidifying his place in the Nigerian music narrative in 2023.
8. Paul Okoye (of P-Square) – $50 Million
PAUL OKOYE, the other magnetic half of the renowned P-Square duo, has continued to shine and make waves, both as part of the iconic pair and in his solo endeavors. Boasting a net worth of $50 million, he’s a significant figure in our top 10 richest musicians in Nigeria for 2023.
Together with his brother, P-Square created timeless classics like “No One Like You” and “Beautiful Onyinye”, songs that resonated across Africa and beyond. Their unique blend of catchy melodies and African rhythms set them apart, and their success as a duo played a pivotal role in amassing Paul’s wealth.
Embarking on his solo journey as Rudeboy, Paul showcased his depth and versatility with hits like “Reason With Me” and “Audio Money”. These tracks not only solidified his position as a solo artist but also added to his growing legacy in the music industry.
Outside of the recording studio, Paul’s business acumen shines through. His endorsements, including deals with brands like Globacom, have contributed to his financial portfolio. His ability to merge music with business has made him one of the industry’s leading figures.
Living a life that mirrors his achievements, Paul’s love for luxury can be seen in his collection of exotic cars, designer wear, and magnificent homes.
However, his commitment to philanthropy, his passion for promoting African music, and his dedication to nurturing young talent highlight the depth of his character, ensuring his place as a stalwart in the Nigerian music scene in 2023.
9. Rema – $40 Million
The young prodigy, REMA, has taken the Nigerian music scene by storm, proving that age is just a number when it comes to talent and success. With a net worth of $40 million, he’s a rising star in our top 10 richest musicians in Nigeria for 2023.
Bursting onto the scene with hits like “Dumebi” and “Iron Man”, REMA introduced a fresh sound that seamlessly blends Afrobeats, trap, and hip-hop. His unique style quickly caught the attention of music lovers, earning him a dedicated fan base in a short span of time.
Under the guidance of Mavin Records, REMA’s career has skyrocketed. His EPs, which include tracks like “Lady” and “Bad Commando”, have garnered millions of streams across platforms, showcasing his widespread appeal and the potential for even greater success in the future.
Beyond his musical achievements, REMA’s influence is evident in the trends he sets. From his distinct fashion sense to his signature hairstyle, he’s become a trendsetter for the youth, further amplifying his brand value.
Despite his rapid rise to fame, REMA remains grounded. His commitment to his craft, his connection with his fans, and his dedication to producing quality music ensure that he’s not just a fleeting sensation but a lasting figure in the Nigerian music industry in 2023.
10. Tiwa Savage – $35 Million
TIWA SAVAGE, the queen of Afrobeats, has consistently redefined the role of female artists in a predominantly male-driven industry. With a net worth of $35 million, she’s not only a musical powerhouse but also a financial force, securing her place in our top 10 richest musicians in Nigeria for 2023.
From her early hits like “Kele Kele Love” to international collaborations with artists like Wizkid in “Malo”, TIWA SAVAGE’s music resonates with fans across the globe. Her sultry voice, combined with her ability to weave stories into her songs, has made her a favorite among music enthusiasts.
Her journey, which began with Mavin Records, saw her rise to prominence with albums like “Once Upon a Time” and “R.E.D”. Her move to Universal Music Group further solidified her status as a global artist, with tracks like “49-99” gaining international acclaim.
Beyond her musical prowess, TIWA SAVAGE’s brand endorsements, including deals with Pepsi and Maggi, have contributed to her financial success. Her influence extends to fashion and beauty, with her trendsetting styles often making headlines.
Despite her superstar status, TIWA SAVAGE remains connected to her roots. Her advocacy for female empowerment, her involvement in charitable causes, and her dedication to promoting African culture ensure that she’s not just a musical icon but also a role model, making her a standout figure in the Nigerian music landscape in 2023.
“Being a woman in the industry means you have to work twice as hard to get the recognition you deserve. But I’m up for the challenge.” – Tiwa Savage
CONCLUSION
The Nigerian music industry, with its rich tapestry of sounds, rhythms, and talents, continues to make waves on the global stage. The artists on this top 10 richest musicians in Nigeria for 2023 list exemplify the passion, dedication, and hard work that goes into creating music that resonates with millions.
From veterans like DON JAZZY and P-SQUARE to newer sensations like REMA, each artist brings a unique flavor to the industry. Their financial success is a testament to their talent, business acumen, and the love they receive from fans both in Nigeria and abroad.
As we celebrate their achievements, it’s also essential to recognize the ever-evolving nature of the music industry. With streaming platforms, digital marketing, and global collaborations becoming the norm, the future holds even more promise for these artists and the upcoming talents waiting in the wings.
Here’s to the rhythm, beats, and melodies that these artists bring into our lives, and to the bright future of Nigerian music!
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Source: MandyNews.com
Kelly
June 26, 2023 at 12:08 PM
This is nonsense