Music has been an industry that has produced mega millionaires over the last few decades, and Africa has not been an exception.
Not only did musicians make money through their music, they also made millions through lucrative endorsement deals and out-of-music business ventures.
Here we’re going to highlight some of the richest musicians in Africa who have made millions through music.
Top of that list is probably Akon, who has a net worth of almost $100 million, who made his fortune by selling platinum albums in the United States, selling arena tours, his Konvict music label, and various business ventures.
This esteemed songwriter, producer, has Senegalese roots but had his upbringing in America, and was once imprisoned for car theft before venturing into music.
Coincidentally, his music break came singing about his time in the penitentiary with his hit song Locked Up, and also the single Lonely.
This success saw him establish his own music label Konvict Music which had associated acts such as Lady Gaga, T-Pain among many others, and has gone on to sell over 35 million albums worldwide.
Davido, born David Adedeji Adeleke, is one of the most successful African musicians who has sold out arenas around the globe and is at the forefront of the Afrobeats genre.
Born in Atlanta , Georgia, in the United States, to a billionaire Nigerian father, his songs have gained worldwide acclaim in the United Kingdom , the United States and across Africa, and have worked with many superstars including Chris Brown on songs like Blow My Mind, Popcaan just to mention a few.
His music is very popular not only in his native Nigeria, but also in Africa in general, and has won many awards at the MTV Awards, BET.
The bulk of his wealth comes from his many sold out concerts such as the O2 Arena in London, many endorsements and his music label OBO Music Group.
Wizkid was born Ayo Balogun is one of Nigeria’s most successful artists, who is also at the forefront of the Afrobeats genre, working with global superstars such as Chris Brown, Drake, Beyonce and many others.
Hailing from Lagos Wizkid was discovered by Banky W and added to his Empire Mates Entertainment label in 2009, making music that instantly resonated with his fanbase across Africa , the United Kingdom, the United States and Asia.
A few years later, he decided to leave Banky W ‘s label and set up his own Starboy Entertainment label and, as they say, the rest is history.
In 2019, Wizkid received a pay check of nearly $ 500 000 just for performance at the Indian Royal Palace and won many awards including Top R&B Collaboration, Top R&B Song at MTV and BET Awards.
His wealth comes mainly from his music sales, touring, endorsements and business ventures.
Arguably one of the hottest African musician in the world right now with his unique bass voice Burna Boy and has recently gained acclaim with his recent album African Giant, which won multiple awards at award shows such as BET.
Burna was born in the United Kingdom but was raised in Nigeria and is considered to be the modern day Fela Kuti. He has collaborated with African musicians such as AKA, Mr Eazi and international artists such as Stormzy, Ed Sheeran just to mention a few.
He has sold out concerts across the world, and his albums have sold well, particularly in the United Kingdom where he is gaining a loyal following.
His wealth mainly comes from music sales, touring, features on other artists songs and many endorsement deals.
Born Refiloe Phoolo, Cassper Nyovest is a South African rapper who has gained quick success in the music industry and has successfully filled out 3 stadiums to full capacity with his Fill Up concerts.
He is one of the most decorated musicians in Africa who won multiple awards that includes the SAMAs, MTV among many others.
His wealth comes from his many tours and his endorsement deals with many brands such as Ciroc and MTN which saw him bag millions of dollars, and this saw him acquire a mega mansion and 2 bentleys.
South African DJ Black Coffee is one of the most successful musicians in Africa and one of the richest musicians to have brushed their shoulders with American royal music such as Diddy, Jay Z, Beyonce, Alicia Keys, Swiss Beats and many others.
His music has been popular in places like Florida and Ibhiza music festivals, especially in the United States.
Black Coffee has won a number of awards, such as SAMA awards, MTV awards, Metro FM awards and shows no sign of stopping any time soon.
Shatta Wale is the King of Ghana’s dance hall, who is particularly popular in West Africa and has toured the United Kingdom and the United States.
He has collaborated with Beyonce on the Lion King soundtrack and has won many awards in his native Ghana.
His wealth comes primarily from music and various brand endorsements that saw him make millions that he spends lavishly on top of the range cars and real estate.
Although we can not name all the African musicians who make millions from the music industry in their respective countries, there are a few musicians who are interested in amassing a lot of money from music, including Sarkodie, Stonebwoy, AKA, M.I, Ice Prince, Don Jazzy, D’banj just to mention a few.