Forbes magazine has named Nigerian superstar Davido as the wealthiest artist on the continent for 2024. The announcement, made on October 7, 2024, has ignited a fierce debate among fans and industry insiders alike, particularly those supporting rival artists Wizkid and Burna Boy.
As the sun rose over Lagos, Nigeria’s bustling entertainment capital, news of Forbes’ latest rankings spread like wildfire through social media channels and music industry circles. According to the respected American business magazine, Davido sits atop the list with an estimated net worth of $100 million, a figure that has left many in awe and others in disbelief.
This ranking isn’t just about the music,” explains entertainment analyst Chidi Okonkwo. “It’s a testament to Davido’s business acumen and his ability to leverage his brand across multiple revenue streams.”
The Top Five: A Who’s Who of Nigerian Music
While Davido’s position at the summit has garnered the most attention, the entire top five reads like a who’s who of Nigerian music royalty:
1. Davido – $100 million
2. Don Jazzy – $50 million
3. Burna Boy – $30 million
4. Wizkid – $25 million
5. Rema – $15 million
The inclusion of Don Jazzy, a renowned producer and record label owner, at second place with $50 million, underscores the growing influence of behind-the-scenes players in the industry. Meanwhile, the presence of relative newcomer Rema in the top five signals a changing of the guard in African music.
As news of the rankings spread, social media platforms erupted with reactions from fans across the continent. Davido’s supporters, known as the “30BG” (30 Billion Gang), were quick to celebrate their idol’s achievement.
Twitter user @iamtrinityguy exclaimed, “We go lie for you, baddest ❤️❤️❤️❤️,” echoing the sentiment of many Davido fans.
However, not everyone was pleased with the list. Supporters of Wizkid and Burna Boy, in particular, expressed their dissatisfaction with the rankings.
Wizkid fc are still sleeping, let’s wait small make them wake up,” commented @nene_george, hinting at the expected backlash from Wizkid’s fanbase.
While the Forbes list has certainly stirred up controversy, industry experts urge fans to look beyond the numbers. Music critic Amina Bello offers a more nuanced perspective:
These rankings, while interesting, don’t tell the whole story of an artist’s impact or success. Each of these musicians has made significant contributions to putting African music on the global map.
Indeed, the past year has seen unprecedented international success for African artists. Burna Boy’s Grammy win, Wizkid’s sold-out global tours, and Davido’s collaborations with international stars have all contributed to elevating the continent’s music scene.
Perhaps the most intriguing aspect of the list is the inclusion of Rema at fifth place. The young artist, who burst onto the scene in 2019, has quickly become a force to be reckoned with.
“Rema said in one of his songs that the Big Three is gone because he is now the fourth,” notes music journalist Funke Adeyemi. But with this ranking, he’s not just knocking at the door – he’s kicked it wide open.”
As the dust settles on this latest Forbes announcement, questions arise about what it means for the future of African music. Will this ranking shift industry dynamics? Could it lead to new collaborations or rivalries?
One thing is certain: the African music scene continues to evolve and surprise, both creatively and financially. As these artists push boundaries and break records, they’re not just making music – they’re making history.
In the end, whether you’re Team Davido, Wizkid, Burna Boy, or rooting for the rise of new stars like Rema, there’s no denying that African music is richer than ever – in talent, in global impact, and yes, in wealth.
