With a net worth of $30 million as of 2021, Holla at Your Boy hitmaker, Wizkid sits comfortably on top as the richest musician in Nigeria. Named Ayodeji Ibrahim Balogun at birth, the Afrobeat singer is widely recognized in Africa and beyond. According to reports, his massive wealth accrued from multiple sources like music, business, endorsements, licensing, and the likes. Wizkid is among the Nigerian singers who charge the highest fees for live shows and performances. Though he makes the most money from endorsements, the music superstar still has other ventures to thank for a few digits of his net worth.
As the richest Nigerian musician, one would expect Wizkid to follow the trend of other celebrities in the country who lavish tremendous wealth on their lifestyle and this is exactly the case with the young artist. His car collection is nothing short of legendary, comprising of only the best of the biggest brands. The hitmaker can also boast of houses in choice areas of the country especially Lagos. To cap it all, he acquired a house in the United States, in a very expensive spot for real estate. In addition to the aforementioned, the celebrated musician also spends a fortune on clothes and accessories.
How The Journey Began For Wizkid
According to Wizkid himself, his career in the music industry started the day he decided to join his local church choir. Besides, he has always drawn inspiration from artists like Fela Kuti, Bob Marley, 2Baba, King Sunny Ade, Sound Sultan, and the likes. He started recording his own music at age 11 in genres ranging from Afropop, Afrobeat, dancehall, reggae, pop, and hip-hop. He was not deterred by the lack of support on the side of his family but decided to make music a full-time career.
Wizkid was just 15 when he began to form valuable connections with established musicians in the music industry, learning from them in the process. He went under the moniker Lil Prinz, performing as a solo artist from 2001 to 2006 and joining some friends from his local church choir, the emerging music sensation formed the band, Glorious Five. The band didn’t last long but before disbanding, they were able to drop a single studio album.
His Story Began to Change After He Met OJB Jezreel
Wizkid was still struggling when he ran into OJB Jezreel who was an already established record producer. The star went under Jezreel’s mentorship and started making regular visits to his studio, watching, as well as learning from big names like Sound Sultan and 2Baba. After he dropped out of school in 2009, the talented musician recorded a deal with EME (Empire Mates Entertainment); it was at this point that Banky W realized his great talent and immediately signed him to EME.
He assumed the name Wizkid and began recording his first studio album Superstar before the end of 2009. The same year, a successful collaboration with rapper M.I resulted in the award-winning song Fast Money which received tremendous airplay in both Nigeria and abroad. In 2010, he dropped the single Holla at Your Boy, the lead track in his first album Superstar, earning the Next Rated Award; this happened at the 2011 Headies. Consequently, Wizzy dropped other singles from Superstar namely Don’t Dull, Tease Me/Bad Guys, Pakurumo, Love My Baby, and Oluwa Lo Ni. Superstar finally dropped in 2010 to critical acclaim, sweeping awards and nominations in its wake.
Wizkid’s Net Worth Makes Him the Richest Musician in Nigeria
In recent times, the African Wizkid has been considered the richest musician in the country and this assertion has been backed by a lot of credible sources. According to a 2021 estimation by Forbes international, the Holla at Your Boy hitmaker is worth an astounding $30 million dollars which, if converted to Nigeria’s local currency, runs into billions.
We have equally seen sources that pegged the young singer’s fortune at above $30 million and some have even come with an amount that doubles that. However, even at $30 million, Wizkid still maintains his position as the richest musician in the Nigerian music industry. His strongest contender according to reports is Davido. We cannot conclude the talk about Wizkid’s net worth without giving a mention to the first money the musician ever made. When he was known as Lil Prinz with the music group Glorious Five, he made about ₦10,000 from his very first track.
It goes without saying that the singer’s cash flow comes from multiple sources. They include;
It is an established fact that the singer started with music which went on to open in-roads into other sources of generating revenue. As soon as he burst to prominence, Wizkid started featuring in live shows and performances. In an interview session, the singer said he makes and will continue to make huge sums of money through shows and live performances. He added that the reason he is highly sought after for live performances is that he possesses a wide range of singing talent.
At the earlier stage of his singing career, the Caro crooner’s charges per live show ranged from N3 to N5 million. In fact, there are shows where he was paid N5 million just for appearing for a mere 10 minutes. As time goes on, the young artist continued to gain more popularity in the entertainment industry, and needless to mention, his charges per show also increased with additional exposure. These days, Wizkid smiles to the bank with a whopping $10 million per show; this is just a paltry sum compared to what he earned after selling out the London 02 Arena.
The amount he makes from tours, record sales, and sales of albums is equally huge. Made In Lagos which is his latest album recorded above 200 million streams on several digital platforms just in 2020. After he featured Tems in his hit single Essence, the song went on to make Barack Obama’s Favorite tracks of 2020.
The Singer Has Made Tons of Money From Licensing
Licensing is another sure and easy way of generating revenue for the Caro singer. He doesn’t even need to lift a finger to accomplish this. All Wizkid needs to do is give permission for his tracks to be used in commercials, in the movies, and on television shows. His songs have equally been used for streaming on some music platforms like YouTube, iTunes, Spinlet, and many others. According to research, Wizkid has recorded over $200,000 just from online streaming of tracks like Come Closer and My Love, just on Spotify alone.
His Endorsements are Only With A-list Brands
When he first surfaced in the limelight, Wizkid was earning a lion’s share of his wallet from music. However, as time rolled by, the young talent gained more popularity which resulted in an increase in the high demand for his endorsement deals. What this means in essence is that his endorsements soon overtook music as the major contributor to his bottom line.
A very good example was his deal with MTN which offered him ₦45 million in 2015 as a renewal incentive after he has been the face of the brand for less than that amount. According to Premium Times, the singer’s initial deal with MTN was signed in 2013 and it was just for one year. However, within the time of the renewal, Globacom came with an irresistible offer of ₦128 million, snatching the music star from MTN.
One of his best-known endorsements was the one he inked with Pepsi Cola in 2012. It was a one-year deal worth the sum of $350, 000. The commercial shooting for the deal was done in Beirut Lebanon and he had to travel to the site with other stars such as Tiwa Savage. Wizzy later agreed to a renewal of his Pepsi deal for an additional two years.
In fact, Wizkid’s endorsement portfolio comprises only A-list companies; he has large players like Guinness to his credit. His deal with the top-notch company was signed in November 2013 and it was for the Guinness World of More Concert which was held at Eko Hotel and Suits VI, Lagos, precisely at the Eko Convention Center.
Perhaps Wizkid’s biggest endorsement in Nigeria so far is his deal with UBA, the United Bank of Africa. In 2019, he signed a contract with the bank worth the whopping sum of $3 million which was equivalent to ₦1 billion at the time. His international endorsements include deals with Ciroc Premium Vodka, Sony, and many more.
Wizkid’s Most Recent Endorsement Deals are With Puma and Tecno
In October 2020, sportswear brand Puma made Wizkid their latest ambassador; it became public knowledge with the unveiling of their latest campaign images. This made him the new face for the re-launch of the brand’s Puma Suede Classics range. Ayodeji Ibrahim Balogun spoke about the collaboration, recognizing it as a big honor.
According to Wizkid, He loved the Puma brand growing up; thus, it felt completely natural for him to become the brand’s ambassador. Moreover, the Caro crooner campaigned for the launches of Puma X JD Sports on November 4, 2020; this happened at JDSports.co.uk, as well as all the major JD Sports retailers scattered all over Europe.
His deal with the mobile phone company Tecno precedes his Puma contract. In March 2020, he signed a contract worth millions of dollars with Tecno which marked his first mobile endorsement.
A Recap of Wizkid’s Endorsement Deals
• Pepsi Cola
• Dolce & Gabanna
• Ciroc Premium Vodka,
• United Bank of Africa
The Hitmaker Has Also Featured In Modeling
He has international deals in modeling with top-notch brands like Dolce and Gabanna. He also inked several deals with the likes of Nike. Wizkid was at a Milan fashion show in 2018 when the music superstar walked alongside the likes of Naomi Campbell; For this deal, Dolce and Gabanna reportedly paid him $20, 000. His best-known deal with Nike involved posing in a tracksuit the company designed for the official jersey of the Nigerian Super Eagles used in Russia at the 2018 World Cup. The contract is said to worth an astounding $3.75 million.
He Established His Own Imprint in 2013
Wizkid announced his intention to float his own recording company Star Boy Entertainment on the 5th of March 2013. Subsequently, he started dropping albums and singles in their numbers. His self-titled album Ayo came in September 2014, marking his second studio album with singles like On Top Your Matter, Jaiye Jaiye, Joy, One Question, Show You the Money, and Bombay.
Sounds from the Other Side, his third studio album hit the music stand in 2017. He has collaborated with many A-list artistes both in Nigeria and abroad. Wizkid is associated with the likes of Chris Brown, Drake, Trey Songz, TY Dolla Sign, Major Lazer, and Tyga. Wizkid dropped his latest album in 2020, titled Made in Lagos. He signed a multi-album deal in 2017 and it was with the international brand, RCA Records. He also inked one with Sony Music International the same year.
Launching Star Boy Entertainment has one major advantage for the hitmaker in the sense that it gives him the leverage to earn more from his performances, albums, and singles without giving out a major cut to any label as he used to do in the past. Thus, the launch of his imprint practically kept the money in his pocket. Today, The Nigerian Star Boy is one of the most popular musicians in Africa and beyond. The young artist has left his footprints on the sands of time and would forever be remembered for his contribution to the global music industry.
The singer has also revealed his future plans to launch his own clothing line. Wizkid made this known in 2017 after he dropped his third studio album, Sound From the Other Side.
Highlights of WizKid’s Best Moments in his Music Career
• Holla at Your Boy (first hit 2010)
• Caro (Song, 2014)
• Ayo (Album, 2014)
• Manya (Song, 2017)
• Fake Love (Song, 2018)
• African Bad Gyal
• Superstar (2011)
• Ayo (2014)
• Sounds from the Other Side (2017)
• Made in Lagos (2020)
• Soundman Vol. 1 (2019)
Wizkid Spends Big on Real Estate, Cars, Clothes, and Accessories
Spending money without holding back has become part of Nigerian celebrities. In the case of the Fake Love crooner, he invests heavily in real estate both in Nigeria and abroad. The singer is also a big fan of plush automobiles, and the number keeps increasing as time rolls by.
He Has Several Houses Both Home and Abroad
Wizkid is one Nigerian musician with notable investments in real estate. The singer has some choice properties in Lagos; his mansion in Lekki alone is worth over $189,040 and the price keeps appreciating with time. He also owns another beautiful property in the Surulere area of Lagos; the house is equally a mansion with its market price estimated at $36 million.
His houses in Nigeria notwithstanding, the famous musician has also invested in the American real estate industry as he is said to have acquired a property in the US worth N200 million. Wizkid’s house in the US is located in Los Angeles and was first made known by Nigeria’s most famous blogger Linda Ikeji, leading to a melee between the duo.
He is a Fan of Some of the Most Expensive Fashion Brands
There are men who don’t seem to care about expensive clothes but Wizkid is obviously not among them. The young singer decks up in clothes and accessories worth a fortune. Wizzy is a big fan of A-list fashion brands like Gucci and Dolce & Gabbana and needless to mention that their apparel doesn’t come cheap. Just one of his wristwatches is said to be worth $1.2 million; the watch is made with diamond.
Wizkid gave an insight into his sense of fashion in February 2015 when he was interviewed by Vogue Magazine’s journalist, Alex Frank. According to the Nigerian artist, he mostly appears in a mixture of traditional Nigerian clothes and street wears. Pharrell Williams he said is among his fashion style icons.
Wizkid Has Been Spotted Cruising Around Town In Exotic Cars
From what is obvious, the music superstar has great admiration for exotic automobiles. He has cars in their numbers, mostly from the top-notch brands. His garage houses a Porsche Cayenne, Black Honda Accord I-VTEC, A Hyundai Sonata, BMWX6, Blue Volkswagen Convertible, Bentley, Mercedes Benz 2012 Compressor, Mercedes Benz G63 AMG, A Lamborghini Prime, Porsche Panamera, and many other luxurious cars. Reportedly the music icon owns a private jet but this is yet to be confirmed. Below is a list of some of his cars and their market prices.
• Lamborghini Urus worth ₦80 million
• Porsche Panamera bought at the rate of ₦50.8 million
• Used Mercedes Benz G63 AMG costing between ₦55 million to ₦65 million
• BMW X6 crossover with the market price of ₦8.7 million