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Top 10 richest Entertainers in Nigeria
Top 10 highest paid Entertainers in Nigeria – by incomes earned in 2014
Nigerian entertainers are not well known to folks with little or no interest in Africa, but on the continent for those who value good music or great comedy then they’ll know most of these artistes/entertainers. But popularity doesn’t drive home the point on who earns what. These are Nigeria’s top 10 earning entertainers - based on professional/performance fees and endorsement deals - entertainers as of 2014.
Criteria used for arriving at and assessing the earnings of these artistes are record sales, performance fees, endorsement deals and estimated royalties and commissions earned from artistes signed to their record labels, but not included is their net worth in terms of assets or liabilities.
Don Jazzy – earned at least N480 million/$3 million
After his split with erstwhile business partner d’banj in 2012, Don Jazzi’s strides as CEO of Nigeria’s leading record label Mavin records has seen him earning mega bucks from producing massive hits for some of Nigeria’s leading acts to earning endorsements and royalties plus a generous cut from gigs of artistes signed under his record label including Tiwa Savage and Dr. Sid. In 2014 Don Jazzy earned more money that any Nigerian entertainer and is therefore Nigeria’s richest artiste for the year.
P-square – earned at least N460 million/$2.8 million
Known for always having sold out concerts and albums the duo of Peter and Paul (twin brothers) earn an astonishing $200,000 per gig when performing outside Nigeria excluding other expenses plus massive endorsements from some leading companies in Nigeria. They could have earned much more but for Ebola fears from the global community and minor feuds among the brothers that make up their very successful record label – square records.
Davido – earned over N440 million/$2.7 million
Davido had another very successful year in 2014 after an equally successful 2013 but perhaps could have made even more if he had a more proactive management team. His efforts paid off with a few endorsement deals but his impressive performance fee of between N5 million and N10 million per show makes him the second highest earning artiste based on performance fees after P-square.
Wizkid – made at least N430 million/$2.5 million
Talented and very fashionable Ayo Ibrahim Balogun aka Wizkid is well loved and received by many Nigerians across diverse cultural and social backgrounds but especially with the youth. He’s the biggest celebrity endorsement earner pocketing a cool N120 million for being a brand ambassador for Pepsi, MTN and Hennessey with at least N310 million from gigs (could have been higher if he owned his record label).
Tiwa Savage – earned over N390 million/$2.3 million
Nigeria’s most successful female artiste of our time is also a big earner pocketing N5 million per show which is almost twice weekly fetched her N290 million and endorsement deals with MTN, Forte Oil and Pepsi which earned her at least another N100 million. Her earnings could have been more save that she’s signed to Mavin records which gets a cut on every gig she performs.
Flavour – earned over N350 million/$2.2 million
A hugely popular and successful artiste with his own nightclub and bar, endorsement deals, sold out shows he personally organizes and performance and appearance fees makes flavor a very rich man.
Kcee – earned over N300 million/$1.8 million
Five Star Entertainment boss is a money maker any day. He understands showbiz like it’s what he’s born to do relying on nothing but pure street sense and talent of course Kcee - real name Kingsley Okonkwo - makes money as if it’s plucked from trees mostly from shows he organizes himself but also from celebrity endorsement, petroleum marketing and real estate. He’s probably worth more than what I put up as 2014 earnings.
Banky W – N280 million/$1.75 million
WIzkid is his biggest money making machine although this savvy business man knows how to turn small opportunities into big money spinners. He earns at least 50% on every gig for all his artistes and is a silent money maker – Nollywood watch out for him in 2015.
Clarence Peters – earned over N270 million/$1.7 million
Quietly making millions without being noticed, too bad our eyes caught him, Clarence owns two very successful companies Capital Dream Pictures (which shoots most high budget music videos for Nigerian artistes) and Capital Hill Records (which have Chidinma and Ill bliss signed on). Both of these companies fetch him millions of Naira on a monthly basis.
Tu Face – N260 million/$1.6 million
He should have made much more than this in 2014 judging from his antecedents as a music legend from Nigeria but his latest album – Ascension - till date is the bestselling Nigerian album ever to be released to the international market plus N8 million per show as performance fee he doesn’t really need endorsement deals to rock the top earners chart in the Nigerian entertainment industry.