We present you a list of the top 10 richest musicians in Africa 2020. Afrobeats is also sometimes referred to as Afro-pop and Afro-fusion. Don Jazzy has stated he prefers “Afro-pop” rather than afrobeats. Wizkid, Burna Boy, and Davido all use Afro-fusion or Afro-pop to describe their music. Mr Eazi also refers to his music as ‘Banku Music’ to denote the influence Ghana has had on his music (Banku is a Ghanaian dish).
Nigerian artist Tekno signed a multi-million dollar deal with Columbia Records. In August 2017, he released “Pana”. The song was a hit in Nigeria, but failed to propel Tekno’s career into America as was hoped. On October 1, 2017, Wizkid became the first African artist to hold a sold-out headline show at the Royal Albert Hall.
It is said that music gives a soul to the universe, wings to the mind, flight to the imagination and life to everything. Music is a powerful tool that causes joy and other interesting emotions. Due to this, most people value musicians for their artistic talents which results to devotion and intense support, this is why we are coming up with the most recent update of Forbes ranking of the richest musicians in Africa 2020.
According to reports, the top ten richest African music artists were determined by a number of factors such as endorsements, Youtube views, brand value, Show rates, earnings, sales, awards, bookings, popularity, and social media presence, appearance in newspapers, investment and so on. In August 2019, Mr Eazi launched emPawa Africa, a talent incubation initiative to nurture and support up-and-coming artistes in Africa. The platform will be used to help promote upcoming artists and give them a major platform. The initiative is also supported by YouTube Music.
As of year 2020 the richest African musician is Wizkid from Nigeria. He is arguably the biggest African artist of the past decade and he has accumulated quite a lot of wealth over the years with an estimated net worth of 27 million dollars
List Of The Richest Musicians In Africa 2020:
Believe it or not, as of year 2020 Wizkid is the richest musician in Africa. And he has been accumulating all these money since 2010. In 2012, Wizkid signed a one-year endorsement deal with Pepsi reportedly worth 350,000 U.S dollars. He travelled to Beirut, Lebanon with Tiwa Savage for a Pepsi commercial shoot.[ On 28 May 2013, Premium Times reported that Wizkid signed a one-year deal with MTN Nigeria.
The newspaper also reported that Wizkid’s Pepsi contract was renewed for two additional years. In November 2013, Wizkid signed an endorsement deal with Guinness for the Guinness World of More concert, held at the Eko Convention Centre of the Eko Hotel and Suites in Victoria Island, Lagos. In June 2015, Pulse Nigeria reported that Wizkid ditched MTN and signed a ₦128 million deal with GLO.
Wizkid is arguably currently the uncrowned king of African music. He has strengthened his achievements as the owner of Starboy Entertainment –one of the top record labels in Nigeria. Also, Wizkid is one of the musicians who has gotten much recognition by bagging numerous awards and appearing in exclusive musical nominations. As of now, the star artist is said to be worth $27 million.
2. Davido – $ 25 million
Davido is a Nigerian singer, record producer and songwriter. His 2011 single “Dami Duro” spread like virus all over Nigeria and he became famous for his widely acclaimed 2012 debut album “Omo Baba Olowo”. THENET NG reported Davido had signed a ₦30 million endorsement deal with MTN. In 2015 he signed a 1 million dollar deal with Ciroc vodka. He has signed many multi-million dollar deals since then. The deal unveiled him as the face of MTN Pulse, a marketing campaign aimed at Nigerian youth. On October 24, 2013,
Pulse Nigeria reported Guinness Nigeria had signed Davido for an endorsement deal. As part of the deal, Davido performed at the Guinness World of More Concert alongside artists including P-Square, D’banj, Wizkid, Ice Prince, Burna Boy, Olamide, Phyno, Chidinma, Waje and Tiwa Savage.[ On May 9, 2018, Guardian Life reported Davido had signed an endorsement deal with Infinix Mobile, a Hong Kong-based smartphone manufacturer. He is believed by many to be the richest musician in Africa 2020 because of his father’s wealth.
Along with his elder brother Adewale Adeleke, Davido is the co-owner of HKN Music (a record label home to Sina Rambo, B. Red and DeeKay). He has produced songs for Naeto C, Skales, Tiwa Savage and Sauce Kid. At the moment, the Nigerian superstar is worth $25 million.
3. Black Coffee – $16 Million
Going by the birth name Nkosinathi Maphumulo, Black Coffee is not just a legendary South African musician but also one of the prestigious musicians Africa presently is proud of. Within and outside South Africa, Black Coffee has made music the main factor behind his immense fortune and great wealth. Due to this, he is said to be South Africa’s richest musician with his net worth currently around $16 million. Вlасk Соffее іѕ nоt оnlу а lеgеndаrу Ѕоuth Аfrісаn DЈ but аlѕо оnе оf thе рrеѕtіgіоuѕ muѕісіаnѕ Аfrіса рrеѕеntlу bоаѕtѕ оf.
Sarkodie owns the Sark by Yas clothing line, which was launched on April 27, 2013. The clothing line has accessories for men, women and children. In 2012, he was officially unveiled as the Brand Ambassador for Samsung Electronics at the University of Ghana, Legon. As part of the event, Samsung unveiled the Samsung Galaxy Pocket and Chief Hero Phones that had customized wallpapers of Sarkodie and his signature; users had the opportunity to download exclusive tracks of Sarkodie. He is the richest musician in Ghana and one of the richest African musicians as of 2020
He also launched the Obidi Chief headphones and signed an endorsement deal with FanMilk Ghana in 2013. Sarkodie is currently in partnership with Tigo Telecommunications Ghana, a brand that sponsored his 2013 Rapperholic tour. Sarkodie started out as an underground rapper and with the assistance of Duncan Williams, his former manager, his career was launched.
He is a Ghanaian hip hop recording artist and entrepreneur from Tema. His first single from his fourth album, Mewu, sold about 4,000 copies on the first day of its release in Ghana. He was also the first Ghanaian to win a BET award.
5. Don Jazzy – $12.5 million
Don Jazzy going by the birth name Michael Collins Ajereh is well known as a singer and producer. Impressively, he is 3rd on the list of the richest musicians in Nigeria.
On 7 May 2012, Ajereh announced a new record label, Mavin Records. Ajereh said, “I see Mavin Records being the power house of Music in Africa in the shortest possible time.” On 8 May 2012, he released an album featuring the artists signed to his label. The songs on the album included: Amarachi, Forever, Oma Ga, Take Banana and Chocolate, YOLO and the anthem I’m a MAVIN. Mavin records signed the vocalist, Tiwa Savage. Ajereh built a social network platform called “Marvin League” to complement and market his label.
Don Jazzy has been making waves for long and prominently, he has featured with notable superstars locally and internationally. As of now, his net worth stands at $35 million.
6. Cassper Nyovest – 12 Million
Cassper Nyovest is a South African rapper, dancer, songwriter, entrepreneur and record producer. Born and raised in Mahikeng, North West, he is regarded as one of the most successful artists in South Africa. In 2014, he established his own record label, Family Tree Records. Nyovest rose to fame with the release of his debut studio album, Tsholofelo (2014) which produced the successful singles “Gusheshe” and “Doc Shebeleza. Nyovest garnered several endorsement deals with various companies, notably with vodka brand, Ciroc which is one of his biggest endorsement deal in his career so far. Being the richest musician in South Africa gets him on this list.
Their endorsement began in 2017, when Nyovest displayed in his music video, Tito Mboweni several Cîroc bottles. Ciroc then unveiled their deal with Nyovest. In 2015, Nyovest endorsed with MTN and AG Mobile in launching a smartphone named, AG Hashtag which was inspired and partly designed by him
AKA is a South African rapper, songwriter, record producer, singer and entrepreneur. Born and raised in Cape Town, Western Cape, Forbes gained significance after releasing his single “Victory Lap” which was released from his debut album, Alter Ego (2011). On April 2018, Forbes alongside vodka brand Cruz launched the watermelon-flavoured drink with his initial on the bottles. That same month, Forbes was featured as a special guest on WWE Live events which where held in Johannesburg and Cape Town. Being second richest rapper in South Africa gets him on the list of the richest African artists 2020.
As for 2019, he was the roastee for the Comedy Central Roast special.he album was certified platinum then later certified double platinum by RiSA as for 2019. Touch My Blood sixth single “Fela in Versace” featuring Kiddominant received higher commercial success compared to the other singles.
On 8 April 2019, Forbes was featured on a WWE live event in Cape Town and Johannesburg, South Africa. In February 2019, he was the featured roastee in Comedy Central SA annual roast special.
8. Diamond Platnumz – $9 million
You would expect to see the biggest artist in East Africa on this list, the Tanzanian pop icon Diamond has been nothing but influential since he gained prominence in 2012. He has remained ever consistent and always introducing new sounds to the bongo world. Since his rise he has signed and nurtured several artists who are now huge names in Africa via his label WCB Wasafi which is definitely one of the biggest and most successful record labels in Africa if not the most successful.
Diamond is considered influential among his fans, and is said to be the most loved and decorated East and Central African artist at the moment. He is believed to be the highest selling Tanzanian artist of ringtones by mobile phone companies in 2013 as well as being among the artists earning the highest income in the African Great Lakes region’s music industry.
9. Tiwa Savage – $8 milion
Fortune have smiled on Tiwa this past decade, and yes she is the richest female musician in Africa as of 2020. Savage has been involved in many youth empowerment and breast cancer screening projects across Nigeria. She helped raise money for an organisation that builds schools in her hometown. Savage signed an endorsement deal with MTN Nigeria in July 2013, reportedly worth ₦30 million. She also signed endorsement deals with Pepsi, Forte Oil and Maggi
10. D’Banj – $ 6 million
D’banj is best known internationally for his 2012 summer hit “Oliver Twist”, an uptempo dance fusion of Afrobeats and electronic dance music that topped the African charts in 2011 and was a top 10 hit in the UK singles chart in 2012 reaching No. 2 on the UK R&B chart. As of 2016, D’banj is ranked to be the richest solo musicians in Nigeria according to Forbes List.
In December 2012 D’banj signed a mega deal with Sony. Speaking on the importance of the deal to Sony, the managing director of Sony Music Entertainment, Sean Watson, said: “Partnering with D’Banj is a seminal event for us at Sony Music Entertainment Africa. We’ve always admired his talent and to be able to assist with bringing D’Banj’s music to millions of fans, established and new, across the continent is an honour for us. We are very excited about being a part of it.
With D’banj’s first album came his first endorsement from an energy drink called Power Fist.In May 2013, D’banj was named the Bank of Industry (BOI) ambassador. In November 2013, D’banj re-signed a multi-million Naira deal with Globacom, the company he parted ways with in 2010. In June 2014 D’Banj Secures Deal With Heritage Bank. In October 2014, D’banj was named the official African ambassador for Beats by Dre. In February 2015, D’banj was named the official African ambassador for Ciroc Nigeria.