Maybe it’s his philanthropy or the Omo Baba Olowo nickname, but no Nigerian musician’s wealth has aroused more interest than Davido’s net worth.
Because of the top 20 Google search on the musician, 18 were on his riches in naira and dollar, in how much he makes and the cars he drives, and what he’s worth in 2020, 2021, 2022, and beyond.
Eighteen out of 20 searches, all related to his wealth, should be a cause for concern for the Atlanta-born musician, no? But it should be more of a source of worry for us all because a society that celebrates a person’s worth based on his or her assets, connections, and influence is superficial. It builds a social stratum based on material things.
Generation Z, aka Gen Z (the children of Gen X), often identify their self-worth with the approval of their peers. This could be linked to how expensive their clothes are to how quickly they gain the latest iPhone, iPad, or other gadgets. The comparison makes up a big part of their psyche. ‘Between Davido and Wizkid, who’s the richest’ is just one of them.
In a 2003 study titled Inner Security and Infinite Wealth: Merging Self Worth and Net Worth, Stuart Zimmerman and Jared Rosen contrast the idea of net worth (an external measure of how much money one may or may not have) and self-worth (an internal appraisal of one’s own worth).
They concluded that to develop a sense of well-being beyond material success and its outward trappings. One should strive to become more aware of what is truly important in life, and the legacy one will leave behind.
Funnily enough, Davido knows that his self-worth, which includes character, integrity, humility, service above self, and legacy, is far more critical than the secondary success of net worth associated with a title, position, bank accounts, and properties.
Davido exemplified this in 2021 when he mandated his friends to give him a million each on his birthday. He raised over N200 million and added N50 million from his pocket. He gave all to charity.
Let’s stop this net worth and self-worth ‘sermon’ before Gen Z unleashes some Nigerian slang like ‘Wahala be like bicycle’, ‘Gbe body e’, ‘70 years old man’ while flogging us ‘woto woto’!
We present Davido’s biography, sorry, net worth!
Before we delve into his net worth, let’s get the two seemingly inconsequential searches out of the way.
How old is Davido?
This and its close coinage – Davido’s age – constitute 10 per cent of the searches. David Adedeji Adeleke, popularly known by his stage name Davido, was on November 21st 1992. And that makes him 30.
‘Between Wizkid and Davido, who is the richest’ that made up 5 per cent of the searches, would be served as dessert!
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Davido’s Net worth
Davido had an estimated net worth of $9 million in 2019, but his talent, hard work, and connection grew to $12 million in 2020. Even the coronavirus pandemic couldn’t slow him down!
His career and net worth continued to increase; in 2021, Davido’s had an estimated net worth of $16 million. The following year wasn’t bad either, as his estimated net worth grew to about $18 million.
It’s still the early days of 2023. And according to Forbes (though confirming what we all knew), Davido is “one of the African artists who produces and releases songs that top different charts” 2023 will be another good year for him.
His music and endorsements form the bulk of his wealth. However, one can’t ignore the impact coming from a rich home has on his career and net worth.
Davido Endorsement deals
Since he hit the limelight, Davido and endorsement deals have been inseparable. He has been a brand ambassador of many high-profile companies like MTN, Guinness Nigeria, AXE, Travelbeta, Pepsi, etc.
His first major deal happened on April 6th, 2012. Davido signed an endorsement worth N30 million with MTN, Africa’s largest mobile network. He was then shown as the face of MTN Pulse – a marketing campaign for young people in Nigeria.
A year later, precisely on October 24th, 2013, Guinness Nigeria endorsed Davido as he performed in the World of More Concert alongside Wizkid, Olamide, D’banj, and a host of others.
On May 9th, 2018, Davido announced an endorsement deal with Hong Kong-based smartphone manufacturer Infinix Mobile.
Davido’s major source of income
Endorsement deals only make up a fraction of David’s income. That should be taken as given, right? Well, there are some musicians who have made more money outside of music. Davido may get there someday, but for now, his primary source of income is from music, especially from live performances.
According to reports, Davido charges huge amounts for his concerts. And he once played in a show for 20 minutes for a large investment firm for which he was paid $50,000.
For local events, he charges between N10-N40 million. If it’s outside the shores of Nigeria, he grosses between $100,000 and $200,000.
In 2014, he said he might have booked six shows on a Saturday, each paying nearly $70,000. Today, it’s closer to two or three.
Let’s assume he does 40 shows a year. That’s a lot of hard work from him, but it equates to net worth when you multiply the number of shows. We reckon you’re doing that mentally already!
Also, the major label-backed global music industry makes money from multiple income streams like album sales, radio spins, tours, and placing songs in ads. Davido and other Nigerian artists are not left behind.
With the iTunes Store, which launched in 2012, and through mobile apps built by telecommunications companies whose endorsements already underwrite much of the music industry, there are now opportunities to get paid off for their releases.
Even in rural areas, where the majority live below $1, mobile apps make it easy for them to use prepaid phone credits to pay for ringtones, ring-back tunes, and MP3 downloads. All these make Davido smile to the bank!
According to Bloomberg, over two-thirds of the 63 million Nigerians who subscribe to MTN, which has Davido among its brand ambassador, buy ringtones. The profits from these sales are a revenue stream shared between the artists and the phone companies.
Davido’s YouTube channel is another wealth-generating avenue. He has garnered over 700 million views on his videos on that platform. Save yourself the headache of doing the math!
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Davido’s record label as a source of income
Davido founded his music label, Davido Music Worldwide (DMW) in 2016, shortly after signing up with Sony Music. Mayorkun was his first major signing.
The business angle of the label is critical, as it has helped increase his net worth. However, its contribution to the growth and development of upcoming musicians is beyond naira and kobo. Well, cents and dollars, if you like.
“People cannot understand you can’t be on top forever; having these artists helps me stay afloat and be current with new stuff,” he said.
Davido’s Omo Baba Olowo
While Davido’s father, Dr Adedeji Adeleke, is rich and influential, it would be wrong to attribute his high net worth to his father’s wealth. But then, one cannot take that for granted.
Davido’s father is a multi-billionaire business tycoon. He’s the president of Adeleke University in Ede, Osun State. Adeleke is the CEO of Pacific Holdings Limited and several businesses. He was married to Dr Vero Adeleke, who he lost to the chilly hands of death on March 6th, 2003. His younger brother, Ademola Adeleke, is the embattled governor of Osun.
In 2013, he contributed to the establishment of Babcock University’s music department so that his son could complete his education while still pursuing a career in music. Davido enrolled in the department on a part-time basis as its pioneer and only student.
In July 2015, Davido graduated with a second-class upper degree in music.
Davido’s Lifestyle
Davido’s net worth of over $30 million is outwardly displayed by his luxury and expensive lifestyle. He constantly boasts of his flashy and costly possessions, like cars, houses, family’s private jet, all things bright and beautiful, and all jewellery great and small.
He once purchased Rolex wristwatches for his two daughters at the cost of N30 million each ($80,000). And equally flaunted the one he bought for his PA, Santusgee, in Dubai.
“Bought already. It’s not soup; it’s hard work and ambition,” he wrote on Twitter.
Many congratulated him. Many saw it as a show of arrogance. What do you call it?
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Davido’s Cars
Davido has several luxury cars to his name. Some of them are Toyota Land Cruiser, Rolls Royce Phantom, Mercedes Benz Sedan AMG series, Lamborghini Uru, Bentley Bentayga, Chevrolet Camaro GS, Porsche Carrera, Range Rover, Lamborghini Huracan, Rolls Royce Cullinan, Lamborghini Huracán, and a luxury sprinter bus.
Davido’s Houses
He reportedly owns two mansions in Lekki and Banana Island and another in Atlanta, USA.
Davido’s Music Career Timeline
2011 – started working on his debut studio album Omo Baba Olowo. It would feature musicians like Tuface, Naeto C, Sina Rambo, B-Red, Kayswitch, and Ice Prince
May 7th, 2011 – the album’s lead single Back When was released
October 30th, 2011 – the album’s second single, Dami Duro, was released. Its music video came out on January 8th, 2012, during the Occupy Nigeria protests
January 25th, 2012 – the album’s third single, Ekuro hit the market
May 6th, 2012 – the album’s fourth single, Overseas, came out
September 28th, 2012 – All of You was released as the album’s fifth single
February 25th, 2013 – released Gobe. The music video was recorded in South Africa
August 13th, 2013 – Skelewu was released. Five days later, an instructional dance video was uploaded on YouTube. A Skelewu dance competition was subsequently announced
October 2013 – Skelewu’s official music video was released. It was recorded and directed in London by Moe Musa
February 1st, 2014 – released Aye. Its video was directed by Clarence Peters and released six days later
April 30th, 2014 – a collaborative single with South African duo Mafikizolo, titled Tchelete (Goodlife), hit the airwaves
June 2014 – collaborated with Mi Casa, Lola Rae, Sarkodie, and Diamond Platnumz on Africa Rising, a song that was used for DStv’s campaign with the same name to inspire Africans to partake in community-based social investment projects
June 2015 – released the Meek Mill-assisted trap song Fans Mi
January 2016 – announced on Twitter he signed a record deal with Sony Music. A few months later, he founded Davido Music Worldwide (DMW). Yonda, Dremo, Mayorkun, and Peruzzi are currently signed to the label.
July 2016 – signed a record deal with RCA Records.
October 2016 – released the five-track EP Son of Mercy. The singles like Gbagbe Oshi supported it, How Long and Coolest Kid in Africa.
February 17th, 2017 – released If. It won Best Pop Single and Song of the Year at The Headies 2018
June 2nd, 2017 – released Fall. It samples a line from Kojo Funds’s track Dun Talking. In February 2019, the song became the longest-charting Nigerian pop song in Billboard history. It was ranked at number 163 on Pitchfork’s list of the 200 Best Songs of the 2010s
November 10th, 2017 – released Fia. Clarence Peters directed the accompanying music video.
April 30th, 2018 – released Assurance. It coincided with his girlfriend Chioma’s 23rd birthday.
August 2018 – performed at the House of Blues in Boston as part of his The Locked-Up Tour
September 2018 – performed alongside Meek Mill, Post Malone and Fat Joe at the Made in America Festival.
January 2019 – sold out The O2 Arena in London. He became the first solo African artist to do so after Wizkid did the same a year earlier.
July 26th, 2019 – released the Chris Brown-assisted track Blow My Mind. The video had one million views in under 12 hours, surpassing Wizkid’s Fever and Come Closer” to become the Nigerian music video to achieve this feat most quickly.
October 23rd, 2019 – Risky was released. It had guest vocals from Jamaican singer Popcaan
November 22nd, 2019 – released his second studio album, A Good Time. The album had the previously released singles Fall, If, Risky, Assurance, and Blow My Mind
May 2020 – announced that his third studio album would be titled A Better Time. It would include 11 tracks, with features from Nicki Minaj
July – performed on the Tonight Show Starring Jimmy Fallon
September 10th, 2020 – released the single FEM with its music video produced by Dammy Twitch
March 2022 – featured on Hayya Hayya (Better Together) alongside Trinidad Cardona and AISHA) in the first single of the multi-song FIFA World Cup Qatar 2022™ Official Soundtrack. He was the first Nigerian singer to be featured in a FIFA World Cup single
May 2022 – released Stand Strong, which featured The Samples Choir
2022 – announced his first annual festival titled Are We African Yet (A.W.A.Y) would hold at the State Farm Arena, Atlanta, Georgia, on November 18th, 2022
READ: Wizkid Net Worth : Biography, Awards, Feuds, and More
Davido’s Studio albums
Omo Baba Olowo (2012)
A Good Time (2019)
A Better Time (2020)
Davido’s EP
Son of Mercy (2016)
Now that you have been served the main dish and a little extra, here is the dessert.
Between Wizkid and Davido, who’s richest?
This is a typical question from Gen Z – the first generation never to know the world without the internet. Search engines are nothing without them. Davido and Wizkid are nothing without them, too.
The two are arguably the biggest names in Nigeria’s music industry. So, a comparison like this is expected.
“Me and Wizkid, we’re the best,” Davido once said.
“If one telecom comes to me, the other one will go meet him. If Coke comes to me, Pepsi goes to him. Whether it’s true, they make it feel like it can only be one of us. I think there’s enough for all of us to eat, but then sometimes it can feel like only one person will win.”
So, who wins the battle of net worth?
As of the last quarter of 2022, Wizkid is richer than Davido. With an estimated net worth of $21 million, Wizkid is the richest and highest-paid musician in Nigeria, according to Forbes. David’s net worth is estimated at $18 million.
Conclusion
Davido’s fans, whether in disguise as monitoring spirits or genuine ones, will continue to key in their favourite search phrase – how much is Davido’s net worth? Not that it bothers Davido. However, if you’re concerned, gbe body e!
