How Wizkid amassed his net worth

Nigerian Afrobeats superstar Wizkid has had a remarkable musical journey, propelling him to global fame and a significant net worth.  A leading voice in the Afrobeats movement, Wizkid strategically leveraged various revenue streams, from chart-topping music to lucrative endorsements, to build his financial empire.  

Some say he is worth 30 million dollars, while others believe he is worth over 70 million. This article explores the music career, revenue streams, business ventures, and lifestyle contributing to Wizkid's impressive net worth speculation.

Wizkid’s Music Career in Brief

Raised in Lagos' Ojuelegba neighborhood, Ayodeji Ibrahim Balogun, better known as Wizkid, grew up in an interfaith household with twelve sisters. His mother practiced Pentecostal Christianity, while his father followed Islam.

His musical career began at a young age, as he started recording music at just 11 years old. He formed a gospel group called the Glorious Five and released a collaborative album before going solo. Then in 2009, Wizkid signed a record deal with Empire Mates Entertainment (E.M.E.), which helped propel him to stardom. His Superstar debut album, released in 2011, spawned hit singles like Holla at Your Boy and Don't Dull. These hits earned him the Headies Next Rated award and the Mobo Award for Best African Act in the same year.

Wizkid's international breakthrough came in 2016, when he collaborated with Canadian rapper Drake on the chart-topping single One Dance. The song reached number one in over 15 countries, including the United States, United Kingdom, and Australia, making Wizkid the first Afrobeats artist to achieve such global success. Notably, 8 years after its release, One Dance hit the 3 billion streams milestone. Wizkid also hit it big in 2021, after he won a Grammy for his collaboration with Beyonce on Brown Skin Girl. 

How do Wizkid’s revenue streams contribute to his net worth?

Wizkid's net worth comes from multiple revenue streams. These include music sales and streaming, concert tours, and endorsement deals. His earlier albums, such as Ayo (2014) and more recent ones, Made in Lagos (2020), have all been commercial successes.

Made in Lagos for example, has garnered almost 1 billion streams as recorded by NotJustOK.com. Additionally, Wizkid's live performances, both in Nigeria and internationally, have been a significant source of revenue, as he commands high fees. Reportedly, in 2023, his least payment for a performance was 10 million naira. And between 2018 and 2024, he reportedly earned a whopping $35 million from his music tours, selling albums, and brand deals.

Furthermore, Wizkid has secured lucrative endorsement deals with major brands. He signed some endorsement deals for telecommunications companies like MTN and Glo networks, which secured him N120 million at the time. He was also a brand ambassador for Pepsi, where he earned $350,000. 

In 2019, he also became a brand ambassador for Africa’s finest bank, the United Bank of Africa (UBA). Internationally, he has endorsement deals with Sony, Ciroc, Nike, and Dolce & Gabanna. In 2018, he walked alongside Naomi Campbell at a fashion show in Milan. And he was reportedly paid $20,000 by Dolce & Gabbana. For Nike, he posed in a tracksuit created for the Nigerian Super Eagles official jersey, which was used at the 2018 World Cup in Russia, and this deal was worth $3.75 million.

Business Ventures

In addition to his music career, Wizkid has ventured into entrepreneurship, further diversifying his income streams. In 2013, he founded his record label, Starboy Entertainment, which has signed and developed other Afrobeats artists. In 2022, he managed himself, Terri, and LAX. His producers are DJ Tunez, Legendury Beatz, and Maleek Berry.

There is no surety to Wizkid’s other investments. But he allegedly, according to reports from 2022, has a house worth N13 million in Surulere, Lagos, and another house in Lekki, Lagos, worth N68 million. He reportedly also has another located in Los Angeles. Supposedly, he owns a Porsche Panamera, a Hyundai Sonata, a Bentley, a Lamborghini Prime, and other luxury cars.

With these numbers, it is safe to say that Wizkid is worth about $30 million to $50 million.