This post talks about Wizkid’s net worth in 2020, putting his assets, investments, endorsement deals and his Forbes’ page into consideration.
Wizkid is one of Nigeria’s brightest musical figure. And, deservedly, his net worth keeps skyrocketing.
His real name is Ayodeji Balogun and he began his musical career at a very early age. However, it was not all rosy, as he was from a middle-class family.
His first notable song, ‘Holla at your boy’, was released in 2011. And his high-pitched teenage-like voice quickly gained worldwide attention.
Since then he has continued to live up to fans’ expectations by continually dropping hit tracks almost on a monthly basis.
Due to his undeniable talent, he was ranked 5th on Forbes and Channel O’s list of the Top 10 Richest/Bankable African Artists in 2013.
And in 2014, he became the first-ever Nigerian musician to cross 1 million followers on Twitter.
What’s Wizkid’s net worth?
Putting all his assets and endorsement deals into consideration, Wizkid has a net worth of roughly $24 million, according to several sources. If converted to naira, you’ll get an equivalence of ₦8.7 Billion (based on 2020 exchange rates).
However, those figures are based entirely on estimations — since Nigeria adopts voluntary assets declaration.
Wizkid was previously signed up with EME record label. However, due to certain feud and disagreements, he was forced to set up his own record label upon the expiration of his contract with EME.
A move that has now yielded great dividends. This his noticeable from his net worth that has, by a wide margin, toppled that of Banky W., his boss at EME.
Nevertheless, you can’t talk about the person Wizkid has turned out to be without also mentioning Banky Wellington.
How does Wizkid make his money?
Most of Wizkid’s earnings come from endorsement deals with top brands in Nigeria and around the world.
Here’s how Wizkid started attracting lucrative deals:
- In 2012, Wizkid signed an endorsement deal with Pepsi said to be worth 350,000 U.S dollars. The deal which was expected to last for 1 year was, however, renewed for another two years.
- In 2013, he signed a 1-year contract with MTN Nigeria.
- Still in 2013, Wizkid signed a contract with Guinness to take part in a concert which held in Victoria Island, Lagos within the same year.
- In 2015, he signed a deal with Glo worth N128 million, ditching MTN in the process.
- He has also partnered with Nike several times as a model for the brand and for the production of the highly popular Star Boy Jersy.
- Most recently, Wizkid signed a deal with CIROC worth several thousand dollars, following in the footsteps of several other top musicians in Nigeria.
- Another popular brands he has partnered with is D&G.
Furthermore, Wizkid makes money from ad-supported videos posted on YouTube and the purchase of his tracks on iTunes.
Wizkid Business, Investments & Assets
In addition to the deals listed above Wizkid makes money from album sales, musical tours, and personal investments.
Notable among his investments is his personal record label, StarBoy records. However, there are a few other luxurious assets he currently owns.
Wizkid owns a mansion in Lekki, one of the most expensive places to live in Nigeria. However, with such a net worth owning a house anywhere in Nigeria is smaller than a piece of cake.
His mansion is said to be worth ₦68 million. Apart from his Lekki mansion, he has a house in Surulere worth ₦13. And according to rumours, he also owns a mansion in Los Angeles, California of unknown price tag.
Reports concerning his Californian mansion was made public by Linda Ikeji, Nigeria’s most popular blogger. An event that led to a fracas between Wizkid and the popular blog star.
Aside from Wizkid’s beautiful mansion and record company, he has a fleet of some of the latest luxurious cars.
Among them are:
- Mercedes Benz 2012 Compressor
- BMW X6
- Hyundai Sonata
- Porsche Panamera
- Lamborghini Prime
All the cars listed above are worth several millions.
The above information brings to light his interview with Femi Odukoya, where he said: “I don’t think I have a penchant for flashy cars. A lot of people in Lagos drive more expensive cars than mine. I don’t think I’m about the cars as against what many think of me”.
I just like to live comfortably. It is part of the work, I need car as tool to do my business. How about people in government spending so much money on automobiles? If someone works hard for his money, I don’t think anything is wrong with what he likes to buy with the money. I work hard, why would I not live well?”
Of a truth, his fleet of cars aren’t as expensive considering his net worth. People of even lesser net worth drive more expensive vehicles. So people have got to chill out and give him a break. Please, let the young man enjoy his hard-earned money.
Certainly, Wizkid’s net worth is an encouragement to several youths in Nigeria. A lot of people are interested in following in his footstep and reach such great heights.
However, attaining or surpassing Wizkid’s net worth is no child’s play. Piracy and competition in the industry are huge deterrent factors.
Nevertheless, with focus and determination comes success.
If you are determined and focused, you could one day surpass Wizkid’s current net worth.
In conclusion, the figures you see above are mostly based on estimation. Since, in Nigeria, most musicians are highly secretive on matters regarding their net worth.
Take and leave from Wizkid’s net worth
Ayodeji Ibrahim Balogun didn’t get it all easy. According to reports, he had to drop out of Unilag to be able to reach this height.
In addition, he hails from a multi-religious family, his father being a Muslim and his mother — a Pentecostal Christian. And he is said to be just one out of 12 children.
He started recording music when he was just 11-year-old and managed to release a collaborative album with the Glorious Five, a group he and a couple of his church friends formed.
After many years of studio sessions and wait for his breakthrough moment, it finally happened in 2009.
Banky Wellington saw him perform and quickly realized he was talented. As a result, Banky signed Wizzy up at Empire Mates Entertainment (EME) Records. A move which proved to be beneficial and highly profitable for both parties.
Wizzy, ever since his emergence in the grand stage, has not ceased to drop hit tracks. One of his latest being Soco, which so far has attracted a lot of fans from around Nigeria.
To cut the long story short, Wizkid isn’t from the wealthiest of families in Lagos. That’s why he graciously took advantage of the opportunity he got to reach stardom.
His musical exploits and life are now a great source of encouragement to several young musicians around Africa. And deservedly so.
In case you scrolled down fast…
Here’s a breakdown of Wizkid’s net worth & Profile:
|Name||Ayodeji Ibrahim Balogun (Wizkid)|
|Net worth||$24 million|
|Source of wealth||Music, endorsement deals, businesses|