Forbes' 2023 list of Nigeria's wealthiest young musicians: How they made their fortunes

Digital streaming and global collaborations

• Rema stands out with a $5M net worth, leveraging Instagram fame to secure a record deal and achieving a #1 EP, highlighting the power of digital platforms and international collaborations.
• Fireboy DML follows closely, amassing $4M through strategic use of digital streams and a multi-million car collection, showcasing the importance of online presence and asset accumulation.
• CK has a net worth of $3M, propelled by the global hit "Love Nwantiti" and becoming the first African with 20M Spotify streams, underscoring the impact of viral music and streaming platforms.

Endorsements and brand partnerships

• Tems, with a net worth of $2.5M, gained global recognition and brand endorsements (Coca-Cola, Tommy Hilfiger), illustrating the value of brand partnerships in artist revenue streams.
• Asake reached a net worth of $3.5M through YBNL affiliation and significant asset acquisition, including luxury vehicles, highlighting the role of record label support and lifestyle branding in wealth accumulation.

Diverse income streams and self-production

• Zinoleesky, leveraging YouTube for a $1.6M net worth, and Omah Lay, with $850,000, both utilized self-production and strategic platform use, emphasizing the importance of diverse income sources and digital content creation.
• Buju, with a $750,000 net worth and a luxury car from the headies next-rated award, showcases the impact of awards and recognitions on an artist's financial and brand value.

Real estate and luxury assets

• Wizkid, topping the list with a $50M net worth, owns a $10M Los Angeles mansion and a $50M+ car collection, demonstrating the significant role of real estate and luxury assets in wealth status among musicians.
• Davido and Burna Boy follow with net worths of $45M and $25M respectively, both investing heavily in luxury properties and cars, underscoring the importance of asset diversification in wealth accumulation.

Entrepreneurship and record labels

• Don Jazzy, with a $30M net worth, founded Mavin Records, discovering stars and working with global icons, highlighting the impact of entrepreneurship and talent development on personal wealth.
• Olamide, valued at $15M, founded YBNL Nation, significantly influencing the music scene and artist development, showcasing the power of record labels in building wealth and influence in the music industry.