Nigerian Afrobeats star Wizkid has experienced a meteoric rise to global fame, amassing both critical acclaim and a substantial net worth. As a pivotal figure in the Afrobeats movement, Wizkid has skillfully capitalized on multiple revenue streams, from his chart-dominating hits to high-profile endorsements, cementing his position as an industry heavyweight.
While some estimate Wizkid’s fortune at $30 million, others believe it exceeds $70 million. This article delves into how Wizkid built his wealth. his illustrious career, diverse income sources, entrepreneurial endeavors, and lifestyle, offering a closer look at the factors fueling speculation about his impressive net worth.
Wizkid’s Musical Journey
Born Ayodeji Ibrahim Balogun, Wizkid grew up in Ojuelegba, Lagos, raised in an interfaith household with twelve siblings. His mother practiced Pentecostal Christianity, while his father was a follower of Islam. Showing musical talent early on, Wizkid began recording at just 11 years old, forming a gospel group called the Glorious Five before embarking on his solo career. His break came in 2009 when he signed with Empire Mates Entertainment (E.M.E.), leading to his debut album Superstar in 2011. The album’s hits, such as “Holla at Your Boy” and “Don’t Dull,” won him the Headies Next Rated award and a Mobo Award for Best African Act.
Wizkid’s international recognition skyrocketed in 2016 through his collaboration with Drake on the global hit “One Dance,” which reached the top of the charts in over 15 countries, including the U.S., U.K., and Australia. This success made him the first Afrobeats artist to achieve such international acclaim, with “One Dance” later surpassing 3 billion streams. In 2021, he won a Grammy alongside Beyoncé for their collaboration on “Brown Skin Girl.”
Revenue Streams and Net Worth
Wizkid’s wealth flows from various sources, including music sales, streaming revenue, concerts, and endorsement deals. His albums, from Ayo (2014) to Made in Lagos (2020), have achieved commercial success, with Made in Lagos alone gathering nearly 1 billion streams. Wizkid’s live shows, both domestically and abroad, also command high fees; in 2023, his minimum performance fee was reportedly 10 million naira. Between 2018 and 2024, he is said to have earned over $35 million from tours, album sales, and brand partnerships.
Endorsements have been another key pillar in his financial success. Deals with MTN, Glo, and Pepsi provided significant earnings early on, including $350,000 from Pepsi. As a brand ambassador for United Bank of Africa (UBA) in 2019, he represented Africa’s top financial institution. Wizkid has also collaborated internationally with Sony, Ciroc, Nike, and Dolce & Gabbana, among others. In 2018, Dolce & Gabbana paid him $20,000 to walk in a Milan fashion show alongside Naomi Campbell. He also partnered with Nike on a special tracksuit for the Nigerian Super Eagles’ 2018 World Cup appearance, a deal valued at $3.75 million.
Business Ventures and Lifestyle
Wizkid has also expanded his income through entrepreneurial ventures. In 2013, he founded his own record label, Starboy Entertainment, signing and promoting new Afrobeats talents. In addition to his business ventures, Wizkid’s lifestyle reflects his success.
He reportedly owns a N13 million home in Surulere and a N68 million house in Lekki, Lagos, as well as a property in Los Angeles. His car collection is said to include luxury vehicles such as a Porsche Panamera, Hyundai Sonata, Bentley, and Lamborghini Prime.
With these diverse revenue streams and assets, Wizkid’s estimated net worth can be said to be between $30 million and $50 million.
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