The millionaires & billionaires club: See top African artistes’ net worth

Diamond Platnumz (KSh405 million)

Tanzanian heavy-hitter Diamond Platnumz is a silk-stocking artiste. No one doubts that. What many do not know is his actual net worth.

Well, speculations which have been blazing over the years have finally come to an end after the Make Me Sing hit-maker revealed to E!TV on Sunday, June 26 his net worth – a whopping USD4 million (KSh405 million).

The colossal amount has not come as a surprise to many, considering Diamond Platnumz is the most paid, decorated and sought-after artiste in Tanzania.

Most of his income comes from his totally sold out shows in Tanzania, East Africa and beyond the region. Diamond Platnumz has also served as Brand Ambassador of quite a number of corporate including: Vodacom, Cocacola, DSTV and Red Gold.

Unconfirmed reports claim Diamond Platnumz charges KSh370, 000 per show in his native Tanzania. When outside Bongonation, the star wouldn’t take anything less than KSh2.3 million for a performance.

Diamond Platnumz recently landed a deal to advertise Uber taxi operation services.

The award-winning music cog further makes a killing from mobile phone ringtones as his songs are among the most downloaded in East Africa by mobile phone users.

In African Great Lakes region, no musician equals him in selling of ringtones by mobile phone companies.

Diamond Platnumz also harvests revenue from his YouTube channel, considering the videos to his songs easily clock millions of views, hence a huge amount of money earned from YouTube ads.

Diamond Platnumz also owns quite a number of real estate properties such as apartments, land, business premises in Dar es Salaam, Tanzania.

The singer recently launched his record stable Wasafi Classic Baby (WCB) which has already began to pay off after he signed top acts such as Rich Mavoko, Harmonize and Raymond.

Diamond Platnumz started showing interest in music while in standard five. His supportive mum Sanura Kassim ‘Sandra’ bought him albums of different artistes, helped him out in writing lyrics and took him to talent shows; hoping his son would be given a platform to showcase his talent.

For the recording of his first song, Diamond stole his mother’s gold ring and sold it to raise studio money. Currently, the 26-year-old boasts of over 150 songs to his name.

Diamond Platnumz sold second-hand (mitumba) clothes, was a filling station attendant and was also a freelance photographer which he did to raise studio session money in 2007.

Wizkid (KSh1.2 billion)

According to Infoguide Nigeria, Wizkid’s net worth as at December 2015 was approximately $11.5 million (KSh1.2 billion). The amount must have gone up by now, considering 2016 was such a successful year for Wizkid who won several accolades in different awards ceremonies.

Unconfirmed reports say the singer is currently worth $12 million (KSh1.22 billion).

Wizkid has been earning from the Nigerian music industry since 2010. He is the owner of record label Star boy Records.

Wizkid in 2014 got a whopping N45 million (KSh14.5 million) ambassadorial deal with telecommunications giant MTN.

MTN rival Globacom in 2015 doubled the amount MTN paid Wizkid to use him as an ambassador.

Wizkid reportedly got N120 million (KSh39 million) from Globacom on a 2-year deal. During his 25th birthday in June 2015, Wizkid renewed his contract with soft drink manufacturer Pepsi.

With the amount of money he is making from shows, record sales, awards, gifts and endorsements, Wizkid is one of the most richest artists in Nigeria.

He reportedly charges N5 million (KSh162, 000) in every sponsored show.

In August, 2015, WizKid was profiled on Forbes along with other 14 Young African Creatives Rebranding Africa.

Davido (KSh1.4 billion)

Davido’s net worth is approximately $14 million (KSh1.4 billion) according to Nigerianfinder.com.

Despite being born in a well-heeled family, Davido has worked hard to create a name and wealth for himself.

In 2012, Davido was made MTN TV Company ambassador. He became the representative of MTN Pulse. This transaction earned him N30 million (KSh9.7 million).

In 2014, he received more than N50 million (KSh16.1 million) from cooperation with Close UP. He was convinced that it would help the company to be widely adopted in the market, especially among youth.

Davido co-owns HKN Music label alongside his elder brother Adewale Adeleke.

Davido has earned a fortune from his music, album sales, endorsements etc.

Akothee (KSh6.2 billion)

Kenyan singer Akothee’s net worth is estimated at $61 million (KSh6.2 billion) – according to her manager Nelson Oyugi.

Earlier, entertainment outlets in Kenya reported that the Give It To Me hit-maker’s total asset is worth between KSh300 million and KSh400 million.

Mr Oyugi refutes: “No, they (net worth estimate reports) are not true. Though, there is a time she received gifts worth that amount; and I think that is where the outlets got that approximation from. But her assets in Kenya alone are worth slightly over $10 million (KSh1 billion). What propels that amount to total over $60 million (KSh6 billion) in net worth is a house that she owns in Switzerland – it is worth $50 million (KSh5 billion).”

eDaily cannot independently verify the accuracy of Mr Oyugi’s revelation.

P-Square (KSh13.2 billion)

The dynamic duo has featured on Forbes Africa twice. They have recorded sold out concerts and have been presidential guests in at least five African countries. They fly private jets.

According to Forbes estimate the net worth of Peter and Paul Okoye popularly known as P-Square is $130 million (KSh13.2 billion).

The duo’s musical career has been a celebrated success over the years.

 

 

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