Born Ayodeji Ibrahim Balogun, Wizkid is one of Nigeria’s and Africa’s greatest and brightest music artists today. After being named one of the richest African singers by Forbes, we take a closer look at Wizkid’s finances.
On July 16, 1990, Wizkid was born into a polygamous family. Taking care of the family’s needs was a challenge while he was growing up due to his father’s three wives and three children. Muslims and Christians were the religions of the father and mother, respectively. The first time Wizkid was exposed to music was when he started accompanying his mother to church at the age of 11. A passion of music led him to join the choir at his local parish. In his church, Ayodeji Ibrahim Balogun was not only a singer but also the band’s lead singer.
The “Glorious Five” were a group of singers he created with five of his buddies before breaking out as the Wizkid we know today.
The Glorious Five’s Wizkid was known as “Lil Prinz” before the moniker “Wizkid” became popular. While a member of the Glorious Five, he recorded seven songs.
On entering the Nigerian music scene, he made quite a name for himself in 2009 and has continued to do so since, making him one of the most wealthy musicians in Nigeria today. StarBoy Entertainment, Wizkid’s record company, is where he creates his music and generates money.
His First Money
When Wizkid was a member of the Glorious Five, he made his first money. During Wizkid’s stint with the Glorious Five, he was known as Lil Prinz and reportedly made roughly 10,000 off his debut tune.
Following his triumph, he went on to seek a solo music career and ultimately found success in the year 2009. Wizkid collaborated with M.I. on a single in 2009, which became a huge hit in Africa. “Fast Money,” a Grammy Award-winning song, made him a household name in Nigeria and the African music industry.
Nigerians don’t deserve Wizkid, I’d argue in 2017, when I wrote that.
“Nigerians don’t deserve the worldwide export,” M.I stated in response to Wizkid and Nicki Minaj hanging out together.
“Holla at Your Boy” by Wizkid was released in 2010 by Empire Mate Entertainment (EME). The song was nominated for the Headies in 2011 and earned other accolades. He was nominated for more than 24 major music awards, and he took home 13 of them. Soon, everyone knew his name.
Wizkid became one of Nigeria’s most popular artists after breaking through in the year 2009. He would later depart EME, the company owned by Banky W, which put him on the map. Star Boy, Wizkid’s own record label, was established. Konvict music, among others, was among the companies he had relationships with.
Endorsement deals unquestionably contribute significantly to his net worth. Guinness signed Wizkid to an endorsement deal worth more than $128 million in 2013. Besides becoming a Guinness brand ambassador, Wizkid has also signed a deal with Pepsi worth up to $350,000, which is more than 70 million. His endorsement contract with Glo was worth up to N120 million after rejecting MTN’s offer of just N45 million. Mr. Pepsi Ambassador Africa is presently earning more money than anybody else in that continent.
Performances and shows on stage
Wizkid has also made and will continue to make a lot of money through live concerts and shows. A quote from Wizkid once appeared in an interview.
“I am a sought-after performer due to my vast range of vocal abilities”.
Live events and performances bring him a lot of money for him. Performances by Wizkid range from N3 million to N5 million in cost. It’s true that he makes N5 million at a concert in which he sings for just 10 minutes.
When he sold out the 02 venues in London recently, he made a substantial sum of money.
Star Boy Entertainment
He has since moved on from EME records, where he first came to prominence. Starboy Entertainment is his company. This has allowed him the ability to earn more money from his albums and concerts without having to pay a record company a large percentage of the profits. ‘
The artists signed to his label, as well as other label business initiatives, provide him with a steady stream of income.
Licensing is another source of income for the CEO of Starboy Entertainment. It’s a cinch. When it comes to licensing his music for use in films, advertisements, and TV programs as well as music streaming services like iTunes or Spinlet, it’s all about providing permission.
According to a number of studies, he earned more than $200,000 from Spotify playing songs like “My Love” and “Come Closer.”
Agreements with other countries
His earnings come mostly from live performances, sponsorship arrangements with well-known companies, and recording contracts with major record labels throughout the world. A multi-album agreement with RCA Records and Sony Music International was signed by Wizkid in 2017. Pepsi has paid him $350,000 and GLO has paid him $128 million for his endorsements.
A number of high-profile partnerships have helped Wizkid gain a greater level of recognition and value, both domestically and abroad. At the beginning of his music career, Wizkid collaborated and worked with Nigerian artists like 2Face Idibia, Naeto, and Sound Sultan. With the help of foreign artists such as Drake, Chris Brown, Trey Songz, French Montana, Kranium, and Ty Dolla $ign (among others), he has established himself as one of Nigeria’s leading artists. These individuals have been instrumental in helping him gain notoriety and increase his net worth.
In terms of money, Wizkid has an estimated net worth of $120 million.
Wizkid is worth an estimated N5 billion, or $14 million, according to Forbes. He charges between N3 million and N5 million every concert for individuals and organizations. According to Forbes, he had a net worth of $12 million at the end of 2017. It’s anticipated to keep rising in the years to come as well.
Property and vehicles
While Wizkid is a multi-talented musician, he owns a number of expensive homes. Lekki, Lagos, Nigeria, is home to one of the most costly residences in Africa. Los Angeles is home to another lavish property. It’s thought that the Lekki home is valued at over 140 million.
Based on the vehicles he has and his social media posts, Wizkid appears to have an appreciation for the finer things in life. His collection comprises the following models: Blue Volkswagen Cabriolet Convertible; Black Honda Accord I-VTEC; Porsche Cayenne; Mercedes-Benz 2012 Compressor; BMW X6. According to reports, he has his own jate shop.