Forbes, one of the world’s most respected business and lifestyle publications, has unveiled its latest list of the top ten richest musicians in Africa, capturing the essence of the continent’s booming music scene.
This diverse group of artists spans multiple genres and countries, from the Afrobeats powerhouses of Nigeria to the house music legends of South Africa, and even extends to cultural icons from Zimbabwe and Senegal.
The list not only highlights their musical achievements but also provides insight into how these artists have built wealth through entrepreneurship, brand endorsements, and global influence.
1. Akon (Senegal)
- Net Worth: $80 million
Akon, born Aliaune Thiam, achieved international stardom with hits like “Locked Up” and “Lonely.”
His entrepreneurial ventures include launching Konvict Muzik, which helped artists like Lady Gaga and T-Pain reach global fame.
His futuristic project, Akon City, is designed to run on cryptocurrency (Akoin) and exemplifies his focus on digital innovation.
Akon has also monetized his work in the ringtone market and earned royalties from numerous collaborations with major artists like Michael Jackson and David Guetta.
2. Black Coffee (South Africa)
- Net Worth: $60 million
Black Coffee, born Nkosinathi Maphumulo, is a pioneer in electronic and house music.
In addition to music, he has made strategic investments in technology startups and owns shares in many South African tech firms.
He also collaborates with luxury brands and invests in real estate, enhancing his wealth beyond just music.
3. Don Jazzy (Nigeria)
- Net Worth: $30 million
Don Jazzy, born Michael Collins Ajereh, is a music producer and entrepreneur.
His revenue streams include music production, brand endorsements, and strategic partnerships with companies like MTN and Loya Milk.
Don Jazzy’s influence in shaping the Afrobeats genre has positioned him as a powerhouse in African music.
4. Wizkid (Nigeria)
- Net Worth: $20 million
Wizkid, born Ayodeji Ibrahim Balogun, became a global sensation with songs like “Ojuelegba.”
He has collaborated with international artists, including Drake and Beyoncé.
His Starboy Entertainment label has further boosted his revenue as he manages and promotes other artists.
5. Davido (Nigeria)
- Net Worth: $16 million
David Adeleke, popularly known as Davido, gained fame with his debut album Omo Baba Olowo.
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Davido also manages his own label, DMW (Davido Music Worldwide), signing several rising stars in the industry.
6. Tinashe (Zimbabwe/America)
- Net Worth: $6 million (approximate)
Tinashe Kachingwe began her career as a child model and actress before transitioning into music.
She has released several albums blending R&B, pop, and electronic music. Tinashe earns from record sales, tours, and endorsements.
7. Jidenna (Nigeria/America)
- Net Worth: $7 million (approximate)
Jidenna Mobisson rose to fame with his hit song “Classic Man.”
Beyond music, he has ventured into acting and public speaking, discussing issues related to African identity and culture. He also invests in real estate and has shares in tech ventures.
8. Oliver Mtukudzi (Zimbabwe)
- Net Worth: Estimated $5-10 million
Oliver “Tuku” Mtukudzi was a prolific musician with over 60 albums.
He also earned from licensing his music for films and cultural projects.
Mtukudzi’s contributions to music and social activism have solidified his legacy as one of Africa’s most influential artists
9. Hugh Masekela (South Africa)
- Net Worth: Estimated $5-10 million
Hugh Masekela was a legendary trumpeter, with a career spanning over five decades.
Masekela performed internationally and collaborated with artists like Paul Simon and Fela Kuti.
Besides album sales and performances, he earned from licensing his music for films and advertisements.
His legacy is also tied to his activism against apartheid, making him a cultural icon.
10. Sarkodie (Ghana)
- Net Worth: $5 million
He has won numerous awards, including a BET award, and earns from record sales, performances, and endorsements.
Sarkodie has diversified his income with a clothing line, Sark Collection, and philanthropic projects, establishing himself as one of Ghana’s wealthiest artists.
Bottom Line
The 2024 Forbes list of Africa’s richest musicians showcases not only the immense talent, but also the entrepreneurial drive fueling the continent’s music industry.
These artists have transcended their musical roots, building empires through smart business ventures, strategic collaborations, and cultural influence.
