FORBES: Seven Nigerian Musicians Rated As Richest In Africa




Forbes has rated seven Nigerian musicians as part of the 10 top richest musicians in Africa. Today, most Nigerian musicians are living their dreams. They live in opulence like their counterparts in other parts of the world. Here are just some of the successful.

The success story of Dapo Oyebanjo popularly known as D’Banj cannot only be quantified by naira but in dollars and pounds. The Ogun State-born lanky musician owns a range of investments which includes ‘Koko Water, Koko Garri, Koko Mobile, Koko Bar. His Koko Foundation is currently working on charitable initiatives for the less privileged.

He has a multimillion endorsement deals with Globacom, an energy drink company, Chris Aire, UAC, among others.  He currently has a recording deal with Kanye West’s G.O.O.D Music. He pockets between N5 million and N7million as performance fee for local gigs; $80,000 to $150,000 for African shows; £40,000 to £60,000 for UK shows; and $50,000 to $60,000 for American shows.

The pop star fondly called Tuface or Tubaba has so many awards which has distinguished him among the greats in the music industry. The CEO of Hypertek Records and Entertainment married to Nollywood actress, Annie Macaulay is a heavy investor in the real estate business.

According to him, it’s one ‘business that one cannot go wrong with.’ He owns a N200million Rumours Club in Festac town as well as in GRA, Ikeja with the same name. Reports say, he’s worth over N600m.

Aside endorsement deals from Guinness, Airtel and N30m from ‘Phat Girls,’ he charges between N4 million to N5 million per show. He has huge invested in stocks and real estates.

Bankole Wellington also known as Mr. Capable is in a world of his own as a specialist in RnB genre of music and he is smiling to the banks for his efforts.The Nigerian American who is CEO, Empire Friends Entertainment (E.M.E) records is instrumental to the soaring careers of multi millionaire musician, Wizkid and Skales.

Not much is known about his investments but he is rich enough to own a scholarship fund which supplies tuition fee, room, board at some universities for brilliant but indigent students.

He is on the Board of Trustees of ‘Lightup Nigeria’ which aims at ensuring regular power supply in the country. Banky W who is a lover of automobile is a brand ambassador for Etisalat as well as Face of Samsung in West African countries. He is an accomplished Master of ceremonies.


He is the CEO, Star Youngman Record label, an artiste that has a large followership base both locally and internationally especially in the UK.

Wizkid has headlined major events within and outside the shores of the country with a lot of awards to show for his hardwork. He no doubt lives like a prince.

With an eye popping mansion in Lekki, Lagos aside his expensive cars which includes a N15 million Porsche Panamera after crashing the first one, the ‘Caro’ exponent raked in millions with his multimillion naira endorsement deal with Pepsi, MTN. Wizkid also makes money from sale of CDs, shows as he charges N5 million per show, among other benefits.

Don Jazzy is an ace producer and entrepreneur par excellence. After the collapse of ‘Mo’Hits’ records, Don Jazzy established MAVIN Records, bringing Tiwa Savage on board. The successes of D’banj, Dr.Sid, D’Prince, K Switch and Wande Coal have the imprint of Don Jazzy.

The Delta State-born producer embraced the microphone at the age of five signed lucrative deals with Loya Milk, Samsung and MTN. He has interest in the oil and gas sector as well as real estate business.

Also included in the list are the identical twins P-square. The duos currently make more than $150,000 per show. They are signed to a 3 year deal with Globacom as ambassadors.

The twins joined Akon’s Konvict Music label in 2011 and also signed with Universal Music South Africa the following year.

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