Wizkid is currently the richest musician in Africa. His net worth is estimated to be around $50 million, same as Akon’s. D’Banj comes third with $40 million, while Davido is fourth with $25 million. Most of the artists on the list are Nigerian. Others are South African and Senegalese.
- Top 10 Richest African Musicians Overview
- Detailed Analysis: Africa’s Wealthiest Musicians
- 1. Wizkid (Starboy) – $50 Million
- 2. Akon – $50 Million
- 3. D’Banj (Koko Master) – $40 Million
- 4. Davido (OBO) – $25 Million
- 5. Burna Boy (African Giant) – $22 Million
- 6. Sarkodie – $20 Million
- 7. Black Coffee – $16 Million
- 8. Cassper Nyovest – $15 Million
- 9. Don Jazzy – $12.5 Million
- 10. Diamond Platnumz – $9 Million
- How African Musicians Build Wealth: Income Sources Analysis
- Music & Streaming Revenue
- Live Performances & Tours
- Endorsement Deals
- Record Labels & Artist Development
- Real Estate Investments
- Business Ventures
- Regional Breakdown: Wealth Distribution Across Africa
- Comparison: Nigerian Big 3 Rivalry
- Investment Trends Among Wealthy African Musicians
- Challenges Facing Wealthy African Musicians
- Future Wealth Projections: Current Trends to 2030
- Frequently Asked Questions: Richest African Musicians
- Important Disclaimers
The African music industry has taken the world by storm recently. Thanks to Afrobeats and the super-rich empires of Africa’s biggest music stars. Africa’s top musicians now compete with global superstars on sold-out international tours and multi-million dollar endorsement deals. But who exactly is among the richest African musicians on the continent currently?
Top 10 Richest African Musicians Overview
Are you a fan of African music? Here is a list of African richest musicians which states their worth according Naira value and Country. Check them out if you are still unsure of your favourite musicians. You can also explore more detailed Nigerian musicians wealth rankings for additional insights.
Exchange Rate (Current): $1 = ₦1,650
Here’s the current ranking:
- Wizkid (Nigeria) – $50 million (₦82.5 billion)
- Akon (Senegal/USA) – $50 million (₦82.5 billion)
- D’Banj (Nigeria) – $40 million (₦66 billion)
- Davido (Nigeria) – $25 million (₦41.25 billion)
- Burna Boy (Nigeria) – $22 million (₦36.3 billion)
- Sarkodie (Ghana) – $20 million (₦33 billion)
- Black Coffee (South Africa) – $16 million (₦26.4 billion)
- Cassper Nyovest (South Africa) – $15 million (₦24.75 billion)
- Don Jazzy (Nigeria) – $12.5 million (₦20.6 billion)
- Diamond Platnumz (Tanzania) – $9 million (₦14.85 billion)
Detailed Analysis: Africa’s Wealthiest Musicians
For a complete Forbes analysis of African musician wealth, let’s examine each artist individually.
1. Wizkid (Starboy) – $50 Million
The owner of Starboy Entertainment ranks as the richest musician in Africa currently with a net worth of 50 million dollars. Wizkid is an international star and a fortune-maker. His collaborations outside Nigeria and businesses are thriving. They are now worth millions of dollars.
Income Sources:
The annual earnings from music royalties and streaming services are estimated at ₦15 billion. International tours and concerts generate substantial revenue. Endorsements with Pepsi (which has been renewed multiple times), MTN, GLO (worth ₦128 million) and Guinness contribute significantly.
Starboy Entertainment record label operations add to his wealth. Real estate investments in Lagos and London provide steady returns.
Recent Achievements:
He became the first African artist to hold a sold-out headline show at Royal Albert Hall in 2017. Partnerships with Drake, Beyoncé, and other global icons followed. Multiple Grammy nominations and wins solidified his status.
Assets:
His mansion in Lekki, Lagos is estimated at ₦2 billion. London property portfolio expands his international presence. Luxury car collection includes Lamborghini and Porsche models. Private jet shares provide exclusive travel options.
2. Akon – $50 Million
The Senegalese-American singer Akon has a net worth of $50 million. Some of which has been lost due to Akon City project failures. Born Aliaune Thiam, he remains one of Africa’s most recognized names globally.
Income Sources:
Music royalties from hits like “Locked Up” and “Lonely” continue generating revenue. Akon battery powered street lights installation across Africa creates sustainable income. Konvict Muzik record label operations contribute to his wealth. Real estate and technology investments diversify his portfolio.
Recent Developments:
The Akon City project was officially abandoned back in July. A-Coin cryptocurrency became worthless. Josh Ross presents his collaboration “Drunk Right Now” which made its entrance on Apple Music Hot Country in June. Ongoing expansion of solar projects in West Africa continues, according to financial experts.
3. D’Banj (Koko Master) – $40 Million
D’Banj has an estimated net worth of $40 million. This makes him one of the richest African musicians currently. The Koko master used his global smash hit Oliver Twist to gather substantial wealth.
Income Sources:
He became internationally known from the hit “Oliver Twist” and a Sony Music Africa deal in 2012. Co-founded Mo’ Hits Records with Don Jazzy successfully. Globacom, Beats by Dre, and Ciroc Nigeria are all endorsed brands. DKM Media business ventures expand his empire.
Luxury Assets:
His collection includes a 2015 Porsche Carrera and Ferrari F430. Two Aston Martin Vantage models complement the fleet. Bentley and Rolls-Royce Phantom complete the luxury lineup.
Multiple properties in Lagos and Abuja showcase his real estate investments. Investment in Nigerian entertainment companies demonstrates business acumen.
4. Davido (OBO) – $25 Million
According to Forbes, Davido currently has a net worth of $25 million. But his fans, 30BG, say it should be more. David Adeleke has amassed wealth from music and family business connections.
Income Sources:
The athlete secured deals worth millions of dollars. This includes an MTN deal worth ₦30 million and a Ciroc vodka association worth $1 million. DMW (Davido Music Worldwide) record label generates substantial revenue. Real estate investments provide steady returns. Family wealth from father’s business empire adds support.
Recent Deals:
Infinix Mobile advertising campaign launched in 2018. Guinness association followed shortly after. International touring and festival appearances increased significantly. Streaming revenue from global hits continues growing.
Assets:
His mansion on Banana Island costs about ₦1.5 billion. Luxury car collection includes Bentley and Porsche models. Private jet access through family connections provides convenience.
Emerging artists like Naira Marley’s earnings show the growing wealth in Nigerian music.
5. Burna Boy (African Giant) – $22 Million
The Grammy award-winning Nigerian artist goes by the moniker “African Giant.” He has a net worth of $22 million thanks to hit albums. Global tours and impressive streaming numbers contribute significantly.
Income Sources:
Grammy-winning album sales and streaming generate millions. International touring includes prestigious Coachella appearances. Brand partnerships and endorsements add substantial income. Spaceship Entertainment record label operations contribute to wealth.
Achievements:
He became the first Nigerian artist to sell out Madison Square Garden. Multiple Grammy nominations and wins followed. Global collaborations with international superstars expanded his reach.
Similarly, Zinoleesky’s wealth demonstrates the rising fortunes of new generation artists.
6. Sarkodie – $20 Million
Sarkodie’s real name is Michael Owusu Addo. He is a Ghanaian hip-hop superstar and entrepreneur. He has approximately $20 million net worth currently.
Income Sources:
Member of the Sark by Yas clothing line provides fashion revenue. Brand ambassador for Samsung Electronics adds technology partnerships. Tigo Ghana Telecom partnership and Rapperholic tour sponsorship contribute significantly. SarkCess Music record label operations generate steady income. Real estate investments in Ghana diversify his portfolio.
Notable Achievements:
He became the first Ghanaian to win a BET award. Multiple album releases with strong sales in Ghana followed. Collaborations with international African artists expanded his influence.
Artists like Tekno’s net worth show the diverse revenue streams available to African musicians.
7. Black Coffee – $16 Million
Black Coffee is one of the wealthiest artists in South Africa. Music is the main contributor to his immense fortune. Black Coffee’s net worth is estimated to be more than 16 million dollars currently.
Income Sources:
International DJ performances at top venues generate substantial fees. Investing in technology startups and South African tech companies diversifies income. Partnering with luxury brands and investing in real estate adds stability. Electronic music production and album sales continue growing.
Global Recognition:
He performs regularly in Ibiza, Coachella, and worldwide festivals. Collaborations with global electronic music artists expand reach. House music pioneer status in South Africa creates influence.
8. Cassper Nyovest – $15 Million
Cassper Nyovest is one of the leading rappers and businesspeople from South Africa. He currently has an estimated net worth of $15 million.
Income Sources:
Family Tree Records started in 2014 provides label income. Ciroc Vodka, AG Mobile, Coca-Cola, Nike South Africa and Shoprite endorsement deals add revenue. Billiato liquor brand launched in 2021 shows business expansion. Ska Ba Hemisa Capsule Collection clothing line and Root of Fame sneaker brand diversify income.
Luxury Collection:
His fleet includes McLaren GT and Bentley GT Coupe. Rolls-Royce Wraith and BMW 428i complete the collection. Mercedes-Benz V-Class and Mercedes-Benz Microbus add variety.
Music industry analysts note the increasing diversification among richest African musicians.
9. Don Jazzy – $12.5 Million
Don Jazzy is a popular Nigerian record producer and entrepreneur. His net worth is estimated to be around $12.5 million according to Forbes currently.
Income Sources:
He helped set up Mo’ Hits Records initially. Later started Mavin Records successfully. The revenue streams include music production, brand endorsements, and partnerships with MTN and Loya Milk. Launched “Flobyt” free WiFi service in Lagos in 2017. Artist development and management add consistent income.
Industry Impact:
He discovered and developed multiple Nigerian superstars. Producer for international collaborations expanded his reach. Influential figure in Afrobeats development created lasting impact.
10. Diamond Platnumz – $9 Million
Tanzanian pop icon Diamond is considered the biggest artist in East Africa. He has been an influential figure since his rise to fame in 2012. WCB Wasafi, his label, is one of Africa’s most successful currently.
Income Sources:
WCB Wasafi record label operations generate substantial revenue. Bongo Flava music sales and streaming continue growing. Brand endorsements across East Africa add income. Concert tours and appearances provide performance fees.
Regional Dominance:
He’s regarded as the most popular and decorated artist in East and Central Africa. Believed to be the highest selling Tanzanian artist of ringtones in 2013. Strongest social media following in East Africa creates influence. Cross-border collaborations across Africa expand reach.
The growth in Nigerian entertainment wealth shows the expanding opportunities across entertainment sectors.
How African Musicians Build Wealth: Income Sources Analysis
Music & Streaming Revenue
Most music artist income comes from selling music, streaming, and royalties. Musicians are earning more from global streaming services like Spotify, Apple Music, and YouTube expanding in Africa. Top artists make millions of dollars from streaming annually. Wizkid and Burna Boy exemplify this trend.
Live Performances & Tours
International touring has become the biggest revenue source. African artists now charge six-figure fees for international festivals. Wizkid earns around $1-3M from stops in large markets currently.
Endorsement Deals
Income from telecommunications brands like MTN and GLO provides stability. Beverage brands such as Pepsi and Ciroc offer substantial partnerships. Foreign brands create international opportunities. Top musicians earn between 50 and 200 million Naira for major endorsement deals.
Record Labels & Artist Development
Successful artists set up record labels and sign new talent. This provides regular income and industry influence. Entertainment industry earnings demonstrate the potential across different entertainment sectors.
Real Estate Investments
Premium real estate in Lagos preserves and adds wealth. Banana Island, Lekki and Victoria Island are key investment areas. International property portfolios in London, Dubai, and Atlanta diversify holdings.
Business Ventures
Branching into fashion, tech, drinks and more creates extra cash flow. These ventures operate independently of music careers.
Regional Breakdown: Wealth Distribution Across Africa
Nigeria Dominance
Seven of the continent’s ten richest African musicians are Nigerian currently. This dominance stems from several factors:
- Largest African population (220+ million people)
- Strong entertainment industry infrastructure
- International Afrobeats recognition
- Corporate endorsement opportunities
South African Representation
South Africa contributes 2 artists (Black Coffee, Cassper Nyovest). Their focus areas include:
- Electronic/house music global appeal
- Established entertainment industry
- International touring opportunities
- Technology and business investments
West African Presence
Ghana (Sarkodie) and Senegal (Akon) show West African diversity beyond Nigeria. East Africa’s presence through Diamond Platnumz demonstrates regional musical influence.
Comparison: Nigerian Big 3 Rivalry
Wizkid, Davido and Burna Boy dominate African music wealth discussions currently. Here’s how they compare:
Wizkid tops the richest African musicians list with $50 million. His strengths include international collaborations and global streaming success. Recent growth shows 25% increase.
Davido currently sits at $25 million net worth. His strengths include social media influence and family backing. Recent growth shows 15% increase.
Burna Boy has $22 million currently. His strengths include Grammy recognition and live performance revenue. Recent growth shows 30% increase.
Fans express strong emotions over these rankings. Davido’s 30BG fans remain unhappy that he ranks below Wizkid.
Young Nigerian entertainers show the expanding opportunities for the next generation.
Investment Trends Among Wealthy African Musicians
Real Estate Focus
Lagos luxury properties remain popular investments. Banana Island, Lekki, and Victoria Island lead preferences. International property portfolios in London, Dubai, and Atlanta provide diversification. Commercial real estate investments add steady income.
Technology Ventures
Fintech and cryptocurrency investments offer growth potential. Akon’s experience shows the risks involved. Music streaming platform investments create industry synergy. Tech startup partnerships provide innovation exposure.
Entertainment Business
Record label ownership and artist development create ongoing revenue. Music production and studio investments support careers. Event promotion and venue ownership add performance opportunities.
Luxury Assets
High-end vehicle collections remain status symbols. Rolls-Royce, Lamborghini, and Bentley models dominate. Private jet shares and ownership provide convenience. Luxury watches and jewelry collections display wealth.
Entertainment industry reports highlight the growing sophistication of African artist investments.
Challenges Facing Wealthy African Musicians
Economic Volatility
Currency fluctuations impact wealth valuations significantly. The recent depreciation of the Naira against the Dollar affects calculations.
Limited Infrastructure
Africa’s financial infrastructure continues developing. This limits investment options compared to Western markets.
Political Instability
Regional political issues can affect touring schedules. Business operations and asset security face challenges.
Market Access
African artists gain worldwide recognition currently. However, they still encounter barriers in major international markets.
Future Wealth Projections: Current Trends to 2030
Growth Drivers
Expanding global Afrobeats recognition creates opportunities. Increasing African streaming market penetration drives revenue. Growing international touring opportunities expand earning potential. Rising brand endorsement values reflect market growth.
Emerging Artists
New generation artists show wealth-building potential. Rema, Fireboy DML and Omah Lay could join rankings within five years.
Market Expansion
The international development of African music offers rich opportunities. Both established and emerging artists benefit from this trend.
Frequently Asked Questions: Richest African Musicians
Wizkid currently leads with an estimated $50 million net worth, tied with Akon. However, different sources provide varying estimates. Actual figures likely differ from published numbers.
Primary sources include music streaming and sales. Live tours and performances generate substantial revenue. Endorsement deals provide steady income. Record label operations, real estate investments and other business ventures diversify portfolios. Most successful artists maintain multiple income streams.
Nigeria’s huge population (over 220 million people) creates massive market opportunities. The well-established entertainment industry provides infrastructure support. International recognition of Afrobeats genre drives global appeal. Strong corporate endorsement market creates wealth-building opportunities beyond other African countries.
Celebrity wealth estimates use publicly available information about earnings, assets, and businesses. Real net worth figures may differ widely from published estimates. Private financial information remains undisclosed for most celebrities.
Current estimates suggest Wizkid ($50 million) has higher net worth than Davido ($25 million). This ranking generates significant debate among fans. Actual figures may differ from published estimates.
Important Disclaimers
Wealth Estimate Accuracy: All net worth estimates are based on publicly available information from various sources. They may be inaccurate. Celebrity wealth calculations require assumptions about private financial information that isn’t publicly disclosed.
Forbes Attribution: Many sources across websites attribute African musician wealth rankings to Forbes. However, Forbes has never published a verified list of wealthiest musicians in Africa. Wealth estimates come from various entertainment industry sources and financial publications.
Currency Conversions: Naira conversions use the current exchange rate and vary daily. USD figures provide more stable wealth comparisons over time.
Source Verification: This analysis combines multiple sources and should be considered entertainment industry reporting. It should not be treated as verified financial documentation.
Last updated: Currently. Conversion Rate: $1 = ₦1,650
