Ventures Africa, after presenting the list of Nigerian
billionaires, has now compiled a list of the “5
Richest Contemporary Entertainers In Nigeria”
Here they are below:
Tom Jackson looks at the five richest entertainers
in Nigeria, in no respective order.
2face
Born Innocent Idibia, the former member of the
band, Plantashun Boyz, is among the richest artists
in the industry. With two platinum records already
behind him, Tuface (2Face) is speculated to be
worth about 550 million naira ($3.47 million). He
has had endorsement deals from companies such as
Guinness, which earned him 20 million naira
($125,000) and Airtel, which earned him 22 million
naira ($139,000).
He was also rumoured to have collected 30 million
naira ($189,000) from the producers of the Phat
Girls movie. Tuface has invested heavily in real
estate and stocks, and made bug money from it. He
once said his goal was to recover all the wealth
taken from Africa.
D’banj
Apart from his music interests, D’banj has moved
into other sectors. His interests include Koko
Mansion, a TV reality show, Koko Lounge, an
upscale hangout in Lagos and the UK, Koko
Foundation, a charity, and Koko Mobile. There are
also rumours that he is set to launch Koko Records.
The bulk of his money comes from endorsements –
his endorsement deal with Globacom
telecommunications cost 70 million naira
($442,000).
He has a multi-million naira endorsement with
energy drink Power Fist, a deal with the makers of
the Virgin Colour soft drink and another huge deal
with a popular jeweller. Another endorsement which
runs into millions is with Chris Aire, with D’banj
acting as the face of his watches.
He collects between 5 million naira ($31,500) and 7
million naira ($44,200) as performance fee for local
gigs, and even bigger fees across the rest of Africa
and in the US and the UK. Like his old boss, Don
Jazzy, D’banj also bagged a recording deal with
Kanye West’s G.O.O.D Music. D’banj once said, “I
work hard so that money, awards, endorsements,
bookings and kokolets chase me.”
Don Jazzy
Real name Michael Enebeli, Don Jazzy, is the
founder of now defunct Mo’Hits and now runs
Mavin Records. He is one of the most sought after
producers in Nigeria. As a child he was a member of
Good Morning Kids, a group created by his father.
He is known for his business dexterity, building
Mo’Hits from scratch to become one of the biggest
entertainment empires in the country. He recently
signed a recording deal with Kanye West – a move
that not only boosted his reputation as an
entertainer, but also his wealth.
Psquare
Singing and dancing duo Peter and Paul Okoye won
the KORA award for Best Africa Artiste in 2010,
collecting a $1 million prize in the process. Shortly
after, the duo got an endorsement deal with
Globacom telecommunications worth about 240
million naira ($1.5 million) for four years. Their
seven-city American tour in 2010 earned them a
whopping $1m and have also built a house valued
at 300 million naira ($1.9 million).
They own Rayfield Hotel, Jos, and two multi-million
naira factories in the same city, where they built a
multimillion naira bakery and sachet water
companies for their parents. The bulk of their wealth
comes from concerts, especially in Africa, where
they charge about 2 million naira ($12,600) per
show. They have sold over 14 million copies of their
CDs since 2005.
Banky W
Banky W has become one of the richest entertainers
in the industry, making the bulk of his wealth from
gigs, where he charges between 2.5 million naira
($15,800) and 3 million naira ($19,000) per show
and performs three to four times each week.
A brand ambassador of Estisalat, one of Nigeria’s
telecommunications giants, he also featured in Coca
Cola-Nigeria’s World Cup theme song and
Microsoft’s Anti-cyber Crime Initiative. An
entrepreneur, Banky W has invested heavily in
various businesses and also doubles as a
philanthropist, founding the Mr. Capable Foundation,
where he provides tuition fees for indigent and
brilliant students. He is also the force behind EME
music which has, arguably, the Nigeria’s fastest
rising artiste (Wizkid) under the label.
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