Richest musicians in Africa right now and their source of wealth

Richest musicians in Africa

The African music industry is one of the fastest-growing industries in the world, with an ever-increasing number of gifted singers heralding the scene's arrival. As a consequence, the earning potential of these artists has increased, and the richest musicians in Africa now compare favourably with their international peers classed in the upper echelons of the world's wealthiest singers.

The proliferation of digital music platforms, which have made it simpler for African artists to connect with a global audience and gain recognition outside of their home countries, has fueled this expansion.

Additionally, the accessibility of collaborations between African musicians and international performers has contributed to the boom of the industry.

This article provides a list of the richest singers in Africa, with some diversifying their income streams through endorsements and investments in other industries.

10. Fally Ipupa

With his distinctive technique of fusing African melodies with contemporary pop music garnering him a worldwide fan base, Congo's Fally Ipupa is the tenth richest musician in Africa.

Before launching a flourishing solo career, Fally Ipupa ascended to prominence as a member of the Congolese group Quartier Latin International. Several of his albums, including "Droit Chemin," "Arsenal de Belles Melodies," and "Tokooos," have been commercially and critically successful.

Fally Ipupa's involvement as a judge on "The Voice Afrique Francophone" and his collaborations with a number of well-known artists, including R. Kelly, Olivia, and Booba, have further enhanced his status as one of the richest singers in Africa.

9. Burna Boy

Burna Boy, whose actual name is Damini Ebunoluwa Ogulu, has amassed a net worth of $16 million, to become the ninth-richest African musician.

Burna Boy is also the highest-paid musician in Africa, with the Nigerian ranking for seven of the ten most lucrative single shows by an African artist. Midway through 2022, his One Night in Space performance at Madison Square Gardens was the most expensive ever by an African, generating at least $1,576,641 in ticket sales. 

Burna Boy is presently the second most-played Nigerian artist on Spotify, as his distinctive Afrofusion sound, which combines elements of Afrobeat, dancehall, and hip-hop, has earned him global recognition. 

Throughout his career, he has received numerous awards and honours, such as the BET Award for Best International Act in 2019 and 2020, the MTV Europe Music Award for Best African Act in 2019, and the Grammy Award for Best Global Music Album in 2021 for his album "Twice as Tall."

In addition to his music career, Burna Boy has obtained lucrative endorsement agreements with major brands, including Pepsi, Star Lager, and Hennessy, which have substantially contributed to his wealth and stature as one of the richest musicians in Africa.

In addition, Burna Boy has made strategic investments in various industries, including real estate, fashion, and technology, and he owns the record label Spaceship Entertainment.

Time Magazine designated him among the 100 most influential people globally in 2020.

8. Wizkid

One of the continent's most recognisable personalities, Wizkid, whose actual name is Ayodeji Ibrahim Balogun, is the seventh richest musician in Africa. 

In 2016, he collaborated with Canadian rapper Drake on the international chart-topping single "One Dance," which helped introduce Wizkid's music to a wider audience. In addition, he has collaborated with international artists such as Beyoncé, Skepta, and Future, among others.

Wizkid has signed lucrative endorsement agreements with major brands in Nigeria and beyond, including Pepsi, Puma, Tecno MTN, Glo ($240,000), UBA, and Guinness, all of which have contributed to his position as one of the richest artists in Africa.

In September 2022, he became the first African to headline Rolling Loud, and two months later, he became the second African musician to generate over a million dollars in a single event with his performance at Madison Square Garden. 

Wizkid has also invested in a record label, Starboy Entertainment, and a clothing line, which have helped him diversify his income streams and increase his net worth.

Hopper ranked him 84th on its list of Instagram Rich Celebrities 2022, with each of his posts costing an estimated $92,000, making him one of the richest musicians in Africa.

Wizkid possesses an approximately $26 million mansion in Surulere, Nigeria, and one in Los Angeles, California, in the United States. His automobile collection contains:

  • BMW X6 crossover ($17,400)
  • Porsche Panamera ($101,600)
  • Lamborghini Urus ($160,000)
  • Used Mercedes-Benz G63 AMG ($110,000–$130,000). 

7. Davido

One of the performers at the most viewed sporting event ever, the 2022 FIFA World Cup, Davido, whose actual name is David Adedeji Adeleke, is the sixth richest musician in Africa.

Davido's father is the chief executive officer of Pacific Holdings Limited and co-founder of Adeleke University in Osun State. Being one of Africa's richest artists, Davido has collaborated with Chris Brown, Meek Mill, and Summer Walker, among others.

The singer has garnered numerous accolades for his music, including BET accolades, MTV Africa Music Awards, and MOBO Awards.

Due to his music sales, concert tours, and endorsement agreements, including those with Guinness Nigeria, Infinix Mobile, and MTN, Davido is one of Africa's wealthiest musicians.

The Nigerian is also a successful entrepreneur, having founded the music label DMW (Davido Music Worldwide), which has signed a number of successful artists.

The Nigerian is rumoured to earn up to $20,000 per performance in Nigeria and $30,000 per international appearance. After a prolonged hiatus following the murder of his son, he released "Timeless" in 2023, one of the best-performing albums in modern Nigerian history.

In addition to the music industry, Davido is a successful industrialist with interests in fashion and real estate. To boost his status as one of the richest artists in Africa, he has invested in a real estate firm.

In 2020, New African magazine designated him one of the 100 most influential Africans. According to Hopper, each of Davido's Instagram posts is estimated to be worth $131,000, ranking him 61st among the Instagram-richest celebrities worldwide.

Davido possesses two residences in Lekki, Lagos, and one in Georgia, United States, as well as one of the continent's most opulent vehicle collections, which consists of:

  • 2019 Rolls-Royce Cullinan ($700,00).
  • Bentley Bentayga (216,000 dollars).
  • Bentley Continental GT ($190,000).
  • Porsche Panamera Turbo S ($45,600)
  • Range Rover Sports ($168,000–$180,000)
  • Range Rover SV Autobiography ($200,000)
  • Chevrolet Camaro GS ($18,800)
  • Audi R8 ($46,800)
  • Audi Q7 ($24,000)
  • Mercedes-AMG GLS63 ($90,000)
  • Mercedes G-Wagon ($42,000)
  • Toyota Land Cruiser ($60,000)

6. Gims

As a solo artist and a member of the group Sexion d'Assaut, the Congolese rapper Gims, also known as Maitre Gims, has attained considerable success in the music industry. Having sold millions of records and garnered numerous accolades, Gims is the sixth-richest musician in Africa. 

As a solo artist, Maitre Gims has released a number of successful albums, including "Subliminal" and "Ceinture Noire," both of which have been certified multi-platinum in France. The French-born musician's collaborations with other accomplished artists have increased his popularity, revenues, and standing as one of Africa's richest artists. 

In addition, Gims has diversified his revenue streams by expanding into other industries, including the ownership of a record label, MMC (Monstre Marin Corporation), and a perfumery brand.

In 2018, he launched his clothing line, Vortex, and has participated in charitable endeavours such as aiding orphanages in Africa.

Additionally, Gims has served as a judge on the French version of The Voice, which has increased his visibility and earnings.

Maitre Gims has ventured into other fields, including fashion and philanthropy, in addition to his prominence as a musician.

5. PSquare

As evidenced by their numerous popular songs, accolades, and sold-out shows and concerts, Nigerian music duo PSquare are the fifth richest musicians in Africa. They have collaborated with Akon, Rick Ross, and T.I., among other international performers. In their prime, they were among the highest-paid musicians in Africa.

Prior to their 2016 split, PSquare, composed of identical twin brothers Peter and Paul Okoye, was one of the best-selling African artists of all time and was worth over $100 million.

This net worth has since plummeted, despite their reconciliation in 2021, but still maintains some relevance on the African music scene.

In addition to their music career, PSquare had multiple other sources of income, including endorsement deals with various brands, real estate investments, ownership of a record label, Square Records, and successful clothing lines.

During their heydays, Psquare capitalised on their enormous following and large fan base to generate substantial revenue through merchandise sales and concert ticket sales.

4. Black Coffee

With over two decades of experience in the music industry, Black Coffee, whose actual name is Nkosinathi Innocent Maphumulo, is the fourth wealthiest African musician. He has performed at some of the world's largest music festivals and events, allowing him to gain a global fan base and amass a substantial net worth.

Black Coffee is the first South African to receive a BET Award (2016) in the "Best International Act: Africa" category. He also won the Best Deep House DJ award at the DJ Awards in Ibiza for three consecutive years, from 2015–2017.

As one of the richest artists in Africa, Black Coffee has collaborated with international music superstars such as Drake, Usher, and Alicia Keys and has performed at key international music festivals, including Coachella, Tomorrowland, and Ultra Music Festival.

Black Coffee has also exhibited extraordinary business acumen, enabling him to create a lucrative brand and become one of Africa's richest musicians.

He has partnered with several companies, including Axe, Ballantine's, and Samsung, and established his record label, Soulistic Music, which has contributed to the success of a number of artists.

Black Coffee's status as Africa's wealthiest DJ is also due to diversifying his revenue streams, as he has invested in real estate and other businesses. For example, he owns a portion of the popular Soweto nightclub Zone 6 Venue and has invested in a Durban coffee establishment.

Black Coffee possesses opulent residences in Los Angeles, California, and South Africa, the latter of which is valued at approximately $400,000.

To live up to his status as one of the richest musicians in Africa, Black Coffee owns an impressive collection of automobiles, including a Mercedes-Benz Station Waggon, a Mercedes-Benz CLK, a $100,000 Bentley GT Continental, and a $50,000 Maserati.

3. Don Jazzy

Don Jazzy whose actual name is Michael Collins Ajereh, has established a successful two-decade career in the music industry to become the third richest musician in Africa. 

His productions have dominated the rankings in Nigeria, other African nations, and worldwide. Additionally, he has collaborated with international artists such as Jay-Z, Kanye West, and Beyoncé, which has increased his exposure and income.

Don Jazzy owes his status as one of the richest musicians in Nigeria to entrepreneurship and investments in multiple businesses, in addition to his music production career. He co-founded Mavin Records, the leading record label in Nigeria, which presently houses Rema, the most-played Nigerian artist on Spotify.

Under his guidance, Mavin Records has produced some of the greatest successes in Nigerian music, including Calm Down, Nigeria's most-played song of all time, and has collaborated with many of the industry's most prominent artists.

Don Jazzy also owns a clothing line and can primarily attribute his status as one of the richest artists in Africa to endorsement deals with companies like Samsung, MTN, Loya Milk, and Johnnie Walker.

Don Jazzy also co-founded the now-defunct but highly successful record label Mo' Hits Records and has invested in several other companies, including the technology venture Flobyt.

Don Jazzy possesses a luxurious fleet of exotic vehicles, including:

  • Porsche 911 Carrera ($84,000)
  • Bentley Continental ($50,000)
  • Cadillac Escalade ($54,400)
  • Mercedes-Benz E350 ($40,000)

2. Akon

Having sold over 35 million albums and won numerous Grammys during a career that began in the early 2000s, Akon, whose full name is Aliaume Damala Badara Akon Thiam, is the second richest musician in Nigeria. 

Collaborations with several other renowned artists, including Eminem, Michael Jackson, Madonna, Lady Gaga, R. Kelly, 50 Cent, and Dr. Dre, have increased the Senegalese's popularity and earnings.

Guinness World Records recognises Akon as the first solo artist in history to simultaneously hold the number one and number two positions on the Billboard Hot 100. 

While many consider Akon more American than Senegalese, Africa's second-richest artist has stated emphatically in multiple compositions that the black continent remains his root.

Akon's status as one of the richest singers in Africa is attributable to his involvement in multiple business ventures, including his record label, Konvict Muzik, and an apparel line, Aliaune.

The success of the Konvict Muzik record label's artists, such as T-Pain and Lady Gaga, has helped Akon generate income, which he has invested in various industries, such as cryptocurrency and renewable energy.

The Senegalese have also invested in real estate, including a $6 million residence in Atlanta and a plan to construct the futuristic Akon City in Senegal.

Akon has also been involved in philanthropic endeavours, including the introduction of the Akon Lighting Africa initiative, which seeks to provide electricity to millions of Africans.

As well as being one of Africa's richest musicians, Akon is a Pepsi muse and a Hollywood associate best known for his portrayal in American Heist, a remake of Steve McQueen's 1959 film "The Great St. Louis Bank Robbery."

1. Youssou N'Dour

Having enjoyed both critical acclaim and commercial success over the course of his career and being considered one of the continent's most influential figures, Senegal's Youssou N'Dour is the richest musician in Africa. The sources of N'Dour's fortune include his successful music career, his entrepreneurial endeavours, and his involvement in numerous business and political ventures in Senegal.

Throughout his career, the Senegalese icon has released over 30 albums and won numerous accolades, including the 2005 Grammy Award for Best World Music Album.

As one of the richest singers in Africa, N'Dour has collaborated with Peter Gabriel, Bruce Springsteen, and Neneh Cherry, among others, and has enjoyed success in Africa, Europe, and the United States.

In addition to his musical career, N'Dour's status as the richest artist in Africa is attributable to his participation in a number of successful commercial ventures. In Senegal, he controls several businesses, including a record label, a television station, and a nightclub.

Also, N'Dour has been involved in a variety of political and social causes in Senegal, including serving as the country's Minister of Culture and Tourism from 2012 to 2013 and advocating for causes such as HIV/AIDS awareness, child protection, and human rights.