Forbes 2020: Top 5 Richest Nigerian Male Artistes

 We all know that the Nigerian music industry is one of the fastest growing 'investment' in Nigeria. This is because Nigerian Artistes have not come to play, as they are consistently at the top of their games. 

Now and always, we have top Nigerian artistes who have set their records straight, by using their musical career and various endorsement deals to build wealth, culminating in making music one of the most lucrative arts in Nigeria.
With this, below are the top richest artistes in Nigeria:


Currently, Davido professionally known as David Adeleke is obviously one of the richest Nigerian artistes according to Forbes magazine 2020. He is also among the list of top 10 richest musicians in Africa 2020.
David Adeleke is the son of Dr. Adeleke, one of the wealthiest men in Nigeria.

Although so many individuals think Davido’s father’s wealth is the main reason he is so rich, however, the young star himself is undoubtedly a hard worker, and this has basically earned him the enviable spot on the list of top richest artistes.
Davido has his own record label known as DMW (Davido Music Worldwide).
Often called O. B. O (Omo Baba Olowo) by fans, he has also signed with SONY records, a renowned world musical label. In the digital sphere, two of his tracks “IF” and “FALL” have 60 million and even more on YouTube. Davido, in an interview said he raked in up to $1 million for those views alone. Still wondering how his wealth keeps flowing in?

In terms of assets, the King of the 30 billion gang has acquired so many cars and houses, he also serves as director in his dad’s company.
In terms of life show performances, Davido charges at rate of N10 million. News also has it that he recently purchased a private jet. As a brand ambassador to Infinix and a number of other companies, Davido has the net worth of N20 billion as estimated by Forbes.


Ayodeji Ibrahim Balogun (Wizkid), now often referee to as Starboy is the second richest Nigerian artiste on the list.
Wizkid came to limelight when he dropped his hit single “Holla At Your Boy” under the defunct E.M.E record.
Wizkid stands as one of the most celebrated artiste who has gone global, earning himself lots of International recognitions. He has featured with American Artistes in likes of Tinie Tempah, Beyonce, Drake and host of other popular American Artistes.
Wizzy has been nominated for a Grammy award, MTV Base award, and has won the best musician in Africa award, among his numerous wins. He has toured round the world especially America and Europe.
Adding to what made him grab the number two spot as the richest artiste in Nigeria, he charges as much as N12 million to perform on stage when performing within Nigeria, and however, charges more as gig fee when called to perform outside the country. Like other top musicians, he has signed endorsements that have helped increase his financial status, and these include endorsements with Globacom, Pepsi, and even MTN with a deal worth N40 million. He is the founder of Starboy music record label.
Wizkid has numerous flashy cars, houses, home and abroad. His net worth according to Forbes magazine is said to be 20 billion naira.


Michael Ajereh Collins who is popularly known as Don Jazzy, the founder of MAVIN records, is ranked the third richest music producer/artiste in Nigeria- Featured on Forbes richest African musicians alongside Davido and Wizkid.
To produce music beats, Don Jazzy charges from N600,000 upwards. He also has endorsement deals worth millions.
He has fleets of cars and beautiful mansions located in different parts of Nigeria. His net worth N17 billion.


Oladapo Daniel Oyebanjo popularly known as D’banj is one artiste that have made MONEY from his musical career, even though he has not really been in the game of making hit tracks for some time now. Notwithstanding, he is recognized by Forbes with a N16 billion net worth as he still receives endorsements from top companies in Nigeria.

And finally! On the Number 5 spot, we have

2 Baba

The ace musician who has made it clear he doesn’t want to be nicknamed 2Face anymore, but rather 2 Baba is the Fifth richest Nigerian artiste according to Forbes magazine.
Innocent Ujah Idibia has been extremely good in the entertainment industry as his relevance has constantly been on a top notch level.
After the defunct Plantashun Boiz, 2 Baba signed to kennis music record label where his reign began after releasing hit tracks like African Queen with the label. Ever since, he has been on the top list of richest artistes for a very long time and he is working so hard to maintain that position. 2 Baba has is own record label called “Hypertech”, and charges N2.5 Million for a show/event. His net worth by Forbes is estimated N15 billion.

Indeed, the music industry in Nigeria is a booming economy on its own, and this is made evident in the lives of these flourishing artistes.

At Afrobeat360, we look forward to seeing these artistes continue with their legacies, as many more join the league.

Afrobeats To The World!

Annie Cruz

Author: Annie Cruz

A die hard fan of Burna Boy & Wizkid, Anita Oronsaye a.k.a Annie Cruz is a lover of afro-fusion and just anything that defines great music!

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