Don Jazzy
The don is a builder. From his Mo’hits days with artistes like D’banj, Wande Cole, Dr Sid and more, to the first set of Mavin Records stars including Tiwa Savage, Reekado Banks, Korede Bello; to the latest version of Mavin Records with Rema, Ayra Starr and other budding global stars, the music executive has been able to replicate his success through every era of Nigerian music, without fail and decline.
From royalties through his production efforts and contributions to some of Nigeria’s biggest hits, the producer and record label executive has accumulated a vast fortune that has enabled him to build an empire which was valued by Billboard between $150 million and $200 million. The empire sits on two separate spaces in Lagos, Nigeria. From their creative studios in Lekki where an average house is valued at N200 million to their corporate space in Victoria Island, Lagos, reported to be worth over N300 million.
Beyond his music endeavours, it has been reported that Don Jazzy has a real estate portfolio which is not privy to the public. Alongside these purchases, he has a range of luxury cars, including the $34,839 Changan CS95 mid-size Crossover SUV, a $218,050 Bentley Continental Flying Spur and a $88,275 Lexus LX 570. Due to his influence in the industry, he has inked endorsement deals with brands like Quidax, Betway, Konga, Globacom, and V Bank, to name a few. Don jazzy also boasts a very active social media account that could earn him an estimated eight to eleven thousand dollars per post.
Deola and Darey Art Alade
From producing global unscripted reality TV shows such as ‘The Real Housewives of Lagos’ and ‘Last One Laughing,’ to producing music competition shows like ‘The Voice’ alongside curating some of Africa’s biggest and highly acclaimed events, and creating innovative jingles across media platforms, Deola and Dare Art Alade have established themselves as creative directors who are setting the benchmark for experiential events in Nigeria and have recorded financial success as a result.
Through Livespot 360, the power couple have pulled off renowned concerts like the ‘Love Like A Movie’ show that saw the attendance of top Hollywood stars like Kelly Rowland, Ciara and Kim Kardashian; to the highly acclaimed The Falz Experience; and Cardi B’s unforgettable showpiece at Livespot X Festival in Lagos and Accra.
In seven years, they’ve built a company that has worked with top brands such as Heineken, Apple, Netflix, Showmax, Amazon Prime, Showmax, AFRIFF and more, and formed partnerships with both blue-chip Nigerian companies and multibillion-dollar global industry giants who envision tapping into the growing Nigerian creative space.
Given their achievements and clientele, they deserve a spot on this list.
Kunle Afolayan
The last time the public was aware of a luxury purchase made by renowned filmmaker Kunle Afolayan was in 2021, when he newly bought his $12,500 1929 vintage Mercedes-Benz-Gazelle, a car that currently sits like an art piece at a designated parking spot at his KAP Hub. The hub houses his popular restaurant, Afefeyeye.
Kunle Afolayan loves vintage cars; from his 1965-1972 Mercedes Benz SE to his 1979 Jaguar XJ Series III down to his 1965 Ford Thunderbird, there’s an appreciation the filmmaker has for classic cars that aligns with his vision for films.
From ‘The Figurine’ that centres on the misfortune that befalls friends after they acquire a mystical sculpture to his recent film ‘Ijogbon’ set in a rural area, there’s something about culture, the vintage setting and art that translates into every part of Kunle Afolayan’s life. Which is why it was no surprise when it was revealed that he had built KAP film village and resort in Oyo State – a film village that sits on 40 acres of land with a 40-room hotel, among other facilities constructed for the convenience of tourists.
Afolayan’s creative endeavours have not only helped him acquire more fortune but also enabled him to stay on his vision of transforming Nollywood by telling authentic Nigerian stories. has not only done just that but he has amassed wealth as a result, while living up to his dream of telling Nigerian stories. His million-dollar partnership with streaming service, Netflix when it launched in Nigeria in 2016 led to the streaming of his films ‘The CEO,’ ‘October 1,’ and ‘The Figurine’ on the platform, and in 2020, a renewal of the partnership led to the creation of ‘Citation.’ This eventually commenced a three-movie partnership with Netflix that began with the production of Seffi Atta’s third novel, ‘Swallow,’ and other films like ‘Anikulapo,’ and ‘Ijogbon.’ ‘Anikulapo’ notably broke the record for the most watched non-English movie on the platform amassing over eight million hours of screen time, as well as making about N12 million at the box office in its second week after grossing a total revenue of N9,387,000 in its first week.
As far back as 2014, Afolayan has been investing in films with ‘October 1’ being a two–million–dollar budget film.
Bovi
As far back as 2015, Bovi signed a multi-million dollar deal with telecommunications company Glo. This was years after his big break in 2007, starring in the sitcom, ‘Extended Family.’ By 2008, he gained more popularity as he appeared in more skits, including AY Makun’s parodies of ‘Who Wants To Be A Millionaire.’ However, it was not until 2013 when he organised his own comedy special, ‘Bovi – Man On Fire,’ which drew critical acclaim, that he officially hit the limelight.
In between hosting duties, and comedy shows, was his love for Nollywood which led him to appear in several films including ‘It’s Her Day.’ The film earned him an AMVCA nomination for Best Actor. Presently, he runs a production house called Kountry Kulture Networks which delves into production for television, film and events. With Kountry Kulture Networks he has produced films like ‘My Village People’ in partnership with Filmone Entertainment and TMPL Motion Pictures’ production. The comedy film crossed N100 million at the Nigerian box office within 12 weeks.
Bovi also produced highly acclaimed TV shows like Accelerate TV’s ‘Visa On Arrival’ which went on to receive multiple AMVCA nominations including Best Television Series.
Between collaborations with film houses like FilmOne, and partnerships with international streaming platforms such as Netflix, Bovi has garnered wealth over the years. Most especially with his sold-out stand-up comedy world tours such as ‘Naughty By Nature’ and ‘Man On Fire.’
Toke Makinwa
Toke Makinwa is always the belle of the ball, luxury personified and it shows in all her dealings. Whether it’s her attention to detail when it comes to the brands she chooses to associate herself with, the kind of event she chooses to grace, or her personal brand, the CEO of TM Luxury oozes affluence.
From hosting gigs on top reality TV shows like BBNaija to music shows like The Voice Nigeria and award shows like the Africa Magic Viewers Choice Awards, Toke Makinwa has become the go-to female host for top shows across the country. Coupled with her influence as a luxury and lifestyle influencer, the TM brand has become one of the most controversial yet successful personal brands in the media space.
Bolanle Austen Peters
From her time at the United Nations to founding the Nigerian arts, education and cultural organisation, Terra Kulture in 2003, Bolanle Austen-Peters (BAP) has raised the standard in the Nigerian theatre industry with her productions. From ‘SARO the Musical,’ a theatre creation that received rave reviews leading to multiple sold-out shows internationally, to ‘Wakaa The Musical,’ BAP has left her mark on the industry and has found success as a result.
Through Collaborations with international streaming platforms such as Netflix, to the production of relevant feature films like ‘93 Days,’ her productions have premiered at top film festivals like the Toronto International Film Festival, The Chicago Film Festival, The Pan African Film Festival in Los Angeles, The Johannesburg Film Festival, and more.
Through her achievements, she has created a space for artiste to thrive, learn and showcase their work. Her private theatre has hosted over 2000 guests, 300 art exhibitions, 200 stage productions, and she has produced multiple award-winning plays and films, and hosted over 100 book readings.
Wizkid
With his infectious melodies and captivating persona, Wizkid has opened the industry to a new wave of opportunities as a result of his success. From his groundbreaking single, ‘Ojuelegba’ to hit singles like ‘Essence,’ ‘Come Closer’ and more, through international collaborations with top stars like Drake, Beyonce, and more, Wizkid has solidified his status as one of Africa’s leading acts with timeless hits. These hits have made his music catalogue one of the most valuable repertoires in African history.
His global appeal has moved beyond successful albums to bagging multimillion-dollar endorsement deals with international brands such as Pepsi which reportedly had a 20 million naira deal with the music star. He has also inked deals with multinational companies and sportswear brands such as UBA, Flutterwave, PUMA and more.
From his highly acclaimed project Made In Lagos, he broke records as he reportedly made over $2 million in revenue with his sold-out shows at 02 Arena. The 20,000-capacity arena concert sold out his Made In Lagos tour tickets in two minutes. The following year, he sold out the Tottenham Hotspur Stadium in London, becoming the first African artist to do so with 45,000 fans in attendance. At the end of the year, he had made over $1 million in revenue with his Madison Square Garden concert, which was his highest-grossing concert of all time.
Wizkid has a range of choice properties including his £2.6 million London mansion, multi-million dollar house in the United States and his properties at the upper-class regions in Lagos – Lekki and Victoria Island. He also has an array of luxury cars such as Range Rover, Lamborghini Urus, Mercedes-Maybach GLS 600 and a Rolls-Royce Cullinan.
Yemi Alade and Taiye Aliyu
Effyzzie entertainment franchise, through its CEO Taiye Aliyu, has built a brand out of one of Nigeria’s most successful women. From her record-breaking single, ‘Johnny’ to her recent releases, Yemi Alade has continued to rep her ‘Mama Africa’ title while selling out venues and fostering meaningful partnerships with brands via the help of Aliyu. Their partnership has made her one of Nigeria’s most successful artistes.
Between selling out tours and setting new music records, Yemi Alade has worked with some of the world’s biggest stars including Beyoncé on her groundbreaking soundtrack album ‘The Lion King: The Gift.’ In addition to this, her label’s partnership with United Music Africa offered her an international roll-out partner for her projects. During that time, she became the first African female artiste to hit over 100 million views on YouTube and VEVO with her smash hit single ‘Johnny.’ She also became the first female entertainer in Africa to have over a million subscribers on YouTube.
Her position as an education advocate has led to highly profitable partnerships with brands such as BIC and collaborations with the United Nations on Sustainable Development Goals. Furthermore, she has facilitated campaigns for corporate brands like Shell and has forged partnerships with platforms such as the France-based independent digital distro IDOL who is currently overseeing worldwide digital distribution for all upcoming releases.
Yemi Alade and Taiye Aliyu’s partnership has undoubtedly become one of the best and most profitable partnerships in the industry.
Funke Akindele
Funke Akindele is simply the Queen of the Box Office. For decades, she has thrived in the industry as an actress and went on to break boundaries as a film producer with her influence. From ‘Jenifa’ to her latest film ‘A Tribe Called Judah,’ she has continuously dethroned her films as the top-grossing Nigerian films of all time.
Currently, her film ‘A Tribe Called Judah’, in 21 days has grossed over 1 billion naira, thereby becoming the highest-grossing Nollywood film of all time. This feat makes her the first Nollywood filmmaker to gross a billion naira in one film.
Akindele’s winning streak at the box office started in 2020 with her film ‘Omo Ghetto: The Saga’ which raked in N636.1 million, setting a new record for the highest-grossing movie. In 2022, ‘Battle on Buka Street’, a comedy-drama film, broke her record as the movie grossed N668.4 million.
With these achievements, she has certified her spot in the list of Nollywood legends. After making statements with her pull and influence at the box office, she partnered with international streaming platforms such as Netflix and Amazon to further showcase her films, striking multi-million dollar deals.
Every year, Funke Akindele opens the eyes of investors and Nigerian entertainers to what bounds the industry can reach with her production and marketing excellence.
Mark Angel
Before the skit-making industry became the N50 billion industry it is today, Mark Angel alongside his niece Emmanuella, were one of the leading faces of the industry. With funny lines that became popular parlance, hilarious storylines and series, the skit marker had over eight million subscribers on YouTube with an average of 200k views per video, 21 Million followers on Facebook and 3.1 Million on Instagram. Mark Angel has been declared by multiple people, including respected Nigerian stand-up comedian, Ali Baba, as one of the richest comedians in the country.
According to reports, Mark Angel earns up to $300,000 per month across his social media channels. Recent data from SocialBlade corroborates this as the comedian was named one of the highest-earning African channels on YouTube, with $4.2 million in revenue. The YouTube data analysis platform further reveals that the comedian makes between $3,000 – $49,000 monthly and has generated over 12 million views in 30 days as of December 27, 2023.
Mark Angel has not only broken through the ranks with his relatable content that tells a tale of average Nigerians but has found ways to make a profitable venture of it. It has been that way since 2017 when he received a plaque from Youtube after becoming the first-ever Nigerian-owned YouTube channel to hit a million subscribers.
Mo Abudu
Before streaming platforms forayed into the Nigerian market, Mo Abudu, through Ebonylife Media, has been creating purely Nigerian content and services that helped shape the African narrative. From her first project, ‘Moments with Mo,’ Africa’s first syndicated daily talk show, that earned her the tag ‘Africa Oprah Winfrey’, to the launch of EbonyLife TV, a pan-African network dedicated to telling African stories, she has constantly positioned herself and broken boundaries in the entertainment industry with her business enterprise.
Mo Abudu has always led the industry and over the years she has done this via international collaborations with streaming platforms like Netflix. Their partnership marked the first time an African media company signed a multi-title film and TV agreement with a streaming platform. She has similar partnerships with networks such as AMC Networks, Starz, Lionsgate, BBC, Westbrook Studios, and Will Packer Productions.
These collaborations have gone on to produce some of Nollywood’s renowned and highest-grossing films like ‘Blood Sisters,’ Fifty,’ ‘The Wedding Party,’ ‘Your Excellency,’ ‘Chief Daddy,’ ‘Òlòtūré,’ and more. Through EbonyLife Media, Abudu has created subsidiaries that have earned her a fortune including EbonyLife Films, EbonyLife Studios, EbonyLife Creative Academy, and EbonyLife Place, Nigeria’s first luxury entertainment resort.
Mr Eazi
Although most people try to equate Mr Eazi’s wealth to his music catalogue, the music star through venture capitalism and a host of other businesses has acquired wealth for himself over the years, enough for him to make this list.
Following a successful run in the late 2010s with his hit singles ‘Leg Over’ and Skin Tight,’ Mr Eazi founded an African-focused music service company emPawa that works with artistes, producers and independent labels with partners like Fave, DJ Neptunes, Joeboy, KillerTunes. As far back as 2018, emPawa through #emPawa100 funded about 100 videos at $3,000 a piece, which set a stepping stone for its investment in music distribution, partnership with international acts and publishing platforms like Kobalt, while its founder, Mr Eazi ventured into the tech space with Zagadat Capital.
His business portfolio currently includes BetPawa, one of Africa’s leading online sports betting platforms, and PawaPay, an African Fintech firm which claimed in 2021 to have processed 257.4 million transactions, worth $1.25 billion since launch. Mr Eazi has also invested and pioneered platforms like Detty Rave, Decagon, Paisa and more, while simultaneously running the African Music Fund, a funding he says is worth $20 million.
In between multi-million dollar projects and music investment, Mr Eazi has earned a spot for himself on this list.
Olamide
In over 13 years of a thriving career in the entertainment industry, Olamide has created a business venture out of his passion for fostering local talents with his record label YBNL. During this time, YBNL has nurtured talents like Lil Kesh, Adekunle Gold, Fireboy DML and very recently, Grammy nominated Asake, who earned the record label boss his first Grammy nomination with their hit single ‘Amapiano.’
For Olamide, artiste development goes beyond assisting talents; it’s a form of investment that yields returns through claims on their catalogue, success stories and returns from record-breaking concerts. Notably, artistes like Fireboy who sold out the OVO Arena Wembley in 2022, and Asake, who sold out his 02 Arena concert, showcase the significant achievements few African artistes have attained, affirming the success of Olamide’s investment in artiste development.
Through strategic partnerships and deals with distribution labels like Empire, YBNL has access to international resources to promote budding African acts, an opportunity that has led to the signing of some of Africa’s biggest artistes.
Aside from his record label businesses which have availed him the opportunity to purchase choice properties across the country, Olamide has become the go-to music influencer. He has balanced his reputation on the streets and upper class society enough to ink deals with brands like Guinness, Monster, Glo, Etisalat, Sterling Bank, Itel, Ciroc and more.
K1 The Ultimate
After refining his skills under the tutelage of Fuji legend Ayinde Barrister in 1975, K1 De Ultimate, soon became a master of his genre. He became known for delivering electrifying live performances and creating impactful songs that transcended time. His unrivalled discography has earned him a devoted cult following and considerable wealth, making him consistently in demand in the music industry.
With over 50 years in the industry, K1 has released over 86 albums and toured in over 40 countries since his first international tour between North America and Europe in 1986, which led to an expansion in his fanbase and solidified his international invasion. The Mayegun of Yorubaland, decades into his career, is the go-to performing artiste at high-profile shows across the continent with a reported fee ranging from N5 million to N15 million, per show.
He also owns a few choice properties, including the Mayegun Royal Resort, a luxurious resort in which members are to pay an annual fee ranging from N7.5 million to N30 million to access its facilities. Aside from buildings, in the past year, he purchased luxury cars such as the Dakar-inspired 2023 Toyota Hilux GR, Bentley Flying Spur and a Rolls-Royce Ghost he bought to celebrate his Mayegun of Yorubaland title.
Considered the custodian and King of Fuji, he has inspired many fuji acts while maintaining his positions as one of the most revered musicians in the industry at large.
Paul O
Considered one of Africa’s biggest and most successful show promoters, Paul O has built an empire out of managing the biggest artistes, fostering the biggest deals while promoting and organising the biggest events. He has managed top talents like Kizz Daniel, Dakore Egbuson-Akande, Mercy Eke, and Jay Jay Okocha while facilitating record label deals for top African acts like Davido, Burna Boy, Tekno and Tiwa Savage.
With Upfront and Personal Bookings, Paul O built partnerships with multinational companies like Pepsi, MTN and the like over the years, enough to position his artistes for A-list endorsements and organise the biggest events, one of which is the One Africa Music Fest. Through this festival he successfully brought African stars in the diaspora and indigenous artistes to the global stage.
When he’s not promoting artistes and shows, he’s acquiring luxury vehicles that have caught the attention of many. His collection includes the recent model Mercedes-Benz AMG G63, Ferrari, two Rolls-Royces, a Range Rover SUV and a G-Wagon.
Adewunmi Ogunsanya
One of the wealthy men in the entertainment industry, Adewunmi Ogunsanya, the business magnate and Senior Advocate of Nigeria (SAN) is currently the Chairman of Multichoice Nigeria, a leading entertainment company and operator of cable channels – DStv and GOtv.
The 57-year-old’s investments in varied areas of the economy have amassed him a fortune, but most importantly, his management of MultiChoice Nigeria and focus on groundbreaking innovations has led to the success of the highly profitable entertainment company for decades. The company has trained and produced local content which has contributed an estimated US$2.1bn (about N800bn) to the Nigerian economy, according to Accenture.
With an annual budget of over $35 million for Nollywood films, renowned award shows like the Africa Magic Viewers’ Choice Awards (AMVCA), reality TV shows like BBNaija, the launch of local channels like Africa Magic Hausa, Igbo and Yoruba, Ogunsanya, through innovation has laid the channel for a huge turnover.
In addition to his investment in entertainment, Ogunsanya reportedly has an array of luxury properties across Lagos. This includes mansions in Ikoyi, reportedly being the second largest property owner in Banana Island and various properties in Ikeja. showcasing a stacked portfolio.
Basketmouth
Leading stand-up comedian, Basketmouth, is considered one of Nigeria’s most accomplished comedians. In his over 20 years in the industry, he has sold out and headlined shows worldwide. From the 12,500-capacity SSE Arena Wembley London to selling out the 2,800-capacity Indigo at O2 Arena and the 5,000-capacity Eventim Apollo Hammersmith, he has broken many records while retaining his record as the first and only African comedian to headline a show at Wembley Arena.
During this period, his very successful ‘Basketmouth Uncensored’ show reached every form of success. He had all this under his belt alongside his career as an actor with features on shows such as Africa Magic’s ‘My Flatmates,’ web series ‘Papa Benji,’ Showmax’s ‘Ghana Jollof,’ and more.
With his deal with Empire Distribution, an independent label, he explored his first love, music. The deal signed in 2021 led to the production of his highly acclaimed album ‘Horoscopes’ featuring top Nigerian acts like 2Baba, M.I Abaga, The Cavemen, Simi, Blaqbonez and more. He had previously released ‘Yabasi,’ a project considered one of the best projects of 2020.
Kemi Adetiba
Kemi Adetiba has come a long long way from a music video director to the big screen as an acclaimed filmmaker in Nollywood. Adetiba made her directorial film debut in 2008 with the film ‘Across a Bloodied Ocean’ before she produced her high-grossing films ‘The Wedding Party 1’ (2016), ‘King of Boys 1’ (2018), and ‘The Return of The King’ (2021, the sequel of ‘King of Boys’).
At the box office, ‘The Wedding Party 1’ grossed N452 million in Nigerian cinemas, while her groundbreaking film ‘King of Boys’ grossed ₦245 million overall before her partnership with Netflix led to the seven-part mini-series ‘King of Boys: The Return of Oba.’
She currently has a new deal with Netflix which will take off with the release of ‘To Kill A Monkey’ and ‘King of Boys’ Season 3.
The Anosike’s
For years, veteran actress Rita Dominic-Anosike has been one of Nollywood’s most versatile superstars but her role in ‘The Meeting’ took her to a different level – a film now considered one of Nollywood’s best-written films. At the time of its release in 2012, the film had grossed over N25 million at the box office and later sold 50,000 copies within two weeks of DVD release in 2014; numbers which were considered a great success at the time.
From that moment, through The Audrey Silva Company, which she co-founded alongside her business partner Mildred Okwo, she had gone on to make other films including ‘La Femme Anjola,’ which earned the duo multiple accolades. For over 30 years, Rita Dominic has been a household name in the industry, a successful one at that but her marriage to Fidelis Anosike, the founder of Folio Communications, took both parties to a new level of fame and wealth.
Following their union, the ownership of the iconic Miss Nigeria Pageant was transferred to the veteran actress, marking a significant change after 16 years under Folio Communications. In his over 30 years in business, Anosike through Folio Media Group has founded and acquired subsidiaries such as Daily Times of Nigeria newspaper, the Miss Nigeria pageant, Folio Nigeria powered by CNN, 1st October, Times Multimedia and Creative Africa Xchange (CAX).
Amin Mousalli
Amin Mousalli has built himself an empire in Nigeria, from his leading construction and civil engineering company, AIM Group, to Steam Broadcasting Limited, which owns a string of leading radio stations and television channels including Cool FM, Wazobia FM, Nigerian Info, Arewa Radio, Wazobia and Cool TV, among others.
The Lebanese-Nigerian based businessman established his first business AIM Consultants in Nigeria. However, his love for broadcasting led to his pacesetting radio stations spread across Nigeria’s six geopolitical zones which have platformed media personalities like Do2dtun, Daddy Freeze, Taymi B, Kemi Smallz, Sheriff Quadri, Sandra Ezekwesili and many more.
His media empire has earned him a spot on Netng’s list of richest personalities in the Nigerian entertainment industry.
Burna Boy
Burna Boy is called the African Giant for a reason. In between creating music that has redefined African music and breaking records with every album release, the Grammy-winning star has pushed the boundaries of success and paved the way for more achievements in the international music scene.
Signed to Atlantic Records in the United States with a reported $5 million advance payment in 2017 and Warner Music Group internationally as well as his own record label Spaceship Entertainment which houses producers LeriQ, and Telz, Burna Boy’s strategic partnerships have led to major gains. In 2021, Burna Boy also signed a worldwide deal with Kobalt Neighbouring Rights (KNR) that offers him a full range of royalty collection as well as maximisation services on a global scale.
In his ten years in the industry, Burna Boy has collaborated with some of pop music’s most recognised artistes including music stars like Sia, Justin Bieber, Coldplay, and Sam Smith, while selling out arenas, and stadiums, and breaking streaming records, earning him the title of the most streamed Sub-Saharan artiste.
During his Love Damini tour, Burna Boy reportedly earned over $8 million from seven out of 22 shows, selling a reported 95,000 tickets. The peak of this success was evident in his most attended US concert at Capital One Arena in Washington, where over 14,000 tickets were sold. His Madison Square Concert, breaking records, generated over $1.5 million, according to Touring Data. These staggering numbers provide just a glimpse of Burna Boy’s remarkable achievements in the past year.
Over the years, Burna Boy’s performance fees have been a subject of controversy as he had reportedly turned down million-dollar offers and claimed to have requested over $1 million for performance fees. The African Giant simply believes he needs to be paid his worth. This has further influenced his choice of brand partners with brands. Collaborations with prestigious brands like oraimo, Burberry, Pepsi, and more underscore his influence and standing in the industry.
Tajudeen Adepetu
Tajudeen Adepetu operates one of Nigeria’s biggest media conglomerates as his lifestyle mediatech company, Group8 houses 12 television channels, six terrestrial radio stations, six digital radio stations, and 12 experiential platforms across the African continent. With Group8, he founded some of Africa’s biggest Urban stations, including Soundcity, ONTV, Spice TV, and more.
Adepetu has fostered the careers of top media personalities, including Denrele Edun and Moet Abebe – a feat achieved through the reach of his media content which reportedly has reached an audience of about 100 million in 70 countries.
From his time as the producer of ‘Everyday People’ to his big breakthrough with media and technology, Tajudeen Adepetu has built himself an empire that makes him deserving of a spot on this list.
Genevieve Nnaji
From highly acclaimed films like ‘Tango With Me,’ to ‘Half of A Yellow Sun,’ ‘Ije,’ and many more, the actress has always stood out for her acting, charisma, and star power, and has always been listed as one of the highest-paid actresses of her time, enough to get her banned by film marketers for charging huge fees.
In recent times, the veteran actress’s feature films ‘Lionheart’ and ‘I Do Not Come To You By Chance’ have earned recognition from not only the Nigerian Oscars Committee but also streaming platforms like Netflix. Notably, her film ‘Lionheart’ achieved the milestone of being Netflix’s first original Nigerian film.
Even though she was banned by film marketers alongside eight other actors in 2004, she has maintained her position in the industry regardless of her little to no social media presence. For years, there have been claims of the actress owning prime properties across the country including a million naira estate in Abuja and choice property at Ikoyi, These possessions are indicative of the actress’s considerable wealth.
The Otedolas
The Otedola’s are indisputably wealthy, but most importantly, it’s essential to note that beyond the personal wealth they’ve accumulated over the years, their father’s businesses from Forte Oil down to his current position as the executive chairman of Geregu Power PLC have laid the foundation for the wealth his family currently holds. His daughters, Tolani, Temi and Cuppy have become prominent figures in the entertainment industry through their various ventures.
Tolani has made a name for herself as a musician, while Cuppy has a dual role as a musician and a DJ. Temi has also gained recognition as an actress and a fashion influencer. Recently, DJ Cuppy signed her first music deal with a U.K. record label, Platoon and has announced endorsement deals with brands such as Adidas, Maybelline, BetKing, Pepsi, Tiger Beer and more.
Temi’s brand over the years has evolved, from JTO Fashion, which solely focused on fashion influencing to podcasting and content creation with a viral series that offers the public a glimpse of her life. These have earned her endorsements with fintech company Bamboo and campaign opportunities with brands such as Jacquemus, Burberry and more. She also made her acting debut in Kunle Afolayan’s highly-acclaimed film ‘Citation.’
Ayo Animashaun
As the CEO of Smooth Promotions, an entertainment firm that owns Hip TV and organises The Headies, Ayo Animashaun has amassed resources that have enabled him to champion one of African music’s longest-surviving and highly acclaimed award shows. The Headies provides a space for budding artistes, and media personalities and employs creatives and experts who have changed the face of entertainment reporting.
His 24-hour cable channel, Hip TV, focused on telling entertainment news and promoting the culture, has become one of Africa’s leading music channels. With his influential position in the Nigerian entertainment industry, Animashaun has accumulated substantial wealth, earning him a place on Netng’s rich list.
The Njokus
The Njokus have become the poster couple for a successful family business in the entertainment industry, all thanks to ROK Studios, a production company owned by the Njokus which was reportedly the biggest media acquisition in Sub-Saharan Africa in 2019. The company, bought by French TV giant Canal+ from iROKO Partners, was the first step taken by the French company to enter the African market.
Following the acquisition, Mary Njoku was kept as the Director General of ROK Productions SAS, and maintained a material shareholding in the company, which at the time had produced about 540 movies and 25 original TV series.
Aside from ROK TV, Jason Njoku co-founded iROKO, an entertainment technology company launched in 2010, which has contributed to the family’s wealth over the years. Despite iROKO TV experiencing a significant 76% decline in users, the company has strategically secured content deals with distribution companies like FilmOne Entertainment, extending into 2024. This strategic move aims to ensure the sustained success of the dedicated streaming service for Nigerian films.
In 2021, GetLaka, a leading source of private SaaS company data, disclosed that iROKO Partners generated $6.4M in revenue.
With a dream to take Nollywood to the next level with their ventures and investments, the couple have been able to create profitable endeavours.
Davido
For twelve years, Davido has maintained his top spot in the music industry, mentoring talents, producing hits and providing a platform for emerging artistes with his projects. But more than ever, he reached international acclaim with the release of his latest album ‘Timeless,’ a 17-track album featuring some of Africa’s best artistes, including Asake, The Cavemen, Skepta, Angelique Kidjo, Musa Keys, Fave and more.
The Grammy-nominated album earned him his first set of Grammy nominations in the Best Global Music Album, Best African Music Performance and Best Global Music Performance categories. Simultaneously, he broke the record for the most first-day streams ever for an African album with over 50 million plays while recording the highest number of first-day album sales by an African artist. The album sold over one million copies on its first day of release.
Still, in 2023, he revamped his record label, Davido Music Worldwide (DMW) including adding budding acts Morravey and Logos Olori to the roster of talents he has on his team. Over the years, he has contributed to the growth of artistes like Mayorkun, Peruzzi, Humblesmith and more.
Wizkid
Wizkid’s represents the crystallisation of African music to the world movement. In his nearly 15 years in the industry, he has set the benchmark for what it takes to be a global superstar. His sound, which seamlessly blends traditional African elements with contemporary vibes, creates addictive melodies and catchy hooks, as exemplified in tracks like ‘Essence’ and ‘Ojuelegba.’
Wizkid’s superpower lies in his ability to turn every hit into an international anthem. He consistently explores and sets the pace with sounds, as evident from the release of his debut album ‘Superstar’ down to ‘Made in Lagos,’ which exposed the afrobeats genre to a new phase of global recognition.
Through strategic collaborations with international stars like Drake and Beyoncé, Wizkid has showcased his unique sound and pushed the culture to the global space. These strategic collaborations have further served as a platform to spotlight some of Africa’s most talented artistes, who have subsequently ridden the wave he provided to achieve stardom. Notable among these artistes are Tems, BNXN, Ayra Starr and more.
From groundbreaking Billboard Hot 100 and Grammy-winning songs to sold-out stadiums and arenas, Wizkid’s impact is undeniable in the industry.
The Inkblot Team (Naz Onuzo, Zulumoke Oyibo, Damola Ademola and Omotayo Adeola )
Their three-year deal with Amazon Studios and Prime Video led to the production of some of Nollywood’s biggest film exports, ‘The Set Up 2,’ ‘Love In A Pandemic,’ and collaborated with Netflix to create highly acclaimed series, including the top coming-of-age-film, ‘Far From Home.’
Since the emergence of Inkblot, the team through international and local partnerships, has spotlighted Nigerian filmmakers and their stories, especially with the production of films like Biodun Stephen’s ‘Big Love’ and many more.
DJ Obi
Through this movement, DJ Obi alongside his team, has showcased the best of African music while being the one-stop for new music, especially since songs like Kcee’s ‘Ojapiano,’ BNXN’s ‘Traboski’ and Shallipoppi‘s ‘Elon Musk’ became street anthems due to the exposure they got at their premieres at the night party. The platform is one of the respected hubs for fun, scouting, partnerships and music marketing.
Beyond introducing music lovers to songs that eventually became some of the hottest club bangers of 2023, the platform has helped launch and nurture the careers of DJs and give them a platform to showcase their artistry. Through Obi’s House, we were introduced to DJs like Dope Caesar, who broke the internet at the BBNaija All Stars night party with her masterful transitions and set.
In two years, DJ Obi has created and nurtured a platform that gives instant feedback to new artistes on their songs, platforms DJs from all parts of Africa, exposes upcoming acts and DJs to potential investors and possible collaborations as Africa’s biggest stars like Burna Boy, Wizkid and Davido have been spotted at this party. All of this is done at no cost to the creatives.
Tunde Kelani
For decades, Tunde Kelani has been considered a pioneer and an ambassador of Nigeria’s cultural heritage. He has played a crucial role in promoting the nation’s culture through films that have documented, educated and entertained millions on their roots and heritage. Through storytelling, Tunde Kelani has set a standard for what a world-class filmmaker should be and beyond this, he has trained and mentored the next generation of stars such as Kunle Afolayan, Diji Aderogba and more.
Although he has been in the industry for years, Kelani has been a link between the old Nigerian filmmakers and new filmmakers as he continues to tell important and impactful stories with film. The advocate of alternative technology specialises in literary adaptations based on African languages, especially with films such as ‘Saworoide,’ ‘Thunderbolt,’ ‘Sidi Ilujinle,’ ‘Dazzling Mirage’ and more. In recent times, his highly acclaimed film ‘Ayinla’ based on the life of the Yoruba Apala music star became a box-office success and he is said to be in the post-production stage of his new drama ‘Cordelia,’ an adaptation of Femi Osofisan fiction which was produced in collaboration with the Music Department of the University of Delaware, USA. It’s the first leg of the Cultural Fusion Initiative designed to recognise and celebrate cultural diversities between nations.
As a filmmaker, he has promoted cultural diversity in films, celebrating Africa’s many languages and cultures while creating timeless films that have changed the filmmaking landscape in Nollywood.
Deola Ade-Ojo
Thanks to House of Deola Sagoe’s Komole collection, brides worldwide have found the perfect traditional attire. With the introduction of her Komole collection in 1998, the renowned designer created a template for brides who want to look regal, luxurious and proudly African on their big day. The design, which explores pastel and jewel-like colours with the traditional Aso Oke material, has gone on to be replicated across boards by other designers and brides.
By combining indigenous materials and techniques with contemporary designs, Ade-Ojo has created a trend that has transcended conventional boundaries. From her day as the MNET Face of Africa to becoming the first black woman to present a collection at AltaRoma, Rome’s highly celebrated fashion week, the renowned designer’s impact has promoted Nigeria’s cultural heritage with her luxury designs.
John Ugbe
As the CEO of MultiChoice, John Ugbe has fostered growth in the Nollywood industry with the introduction of GOtv, and Nigerian major language channels – Africa Magic Yoruba, Igbo and Hausa. This is alongside the $35 million annual film budget dedicated to the production of films.
Beyond investment, Ugbe pioneered the multi-layered talent academy – MultiChoice Talent Factory – which has trained over 1,000 creatives since 2019 and offered free online masterclasses to over 40,000 creatives through the MTF Portal. For years, he has focused on initiatives that have helped develop talents across Nollywood and adopted by the company in other African countries.
In addition to this, the Africa Magic Viewers’ Choice Awards was launched under his leadership. For ten years the prestigious award show has recognised outstanding talents and performances in television, film, and entertainment in general. According to the AMVCA Impact Report researched by BHM’s Research and Intelligence team, the award show had created over 27,000 jobs, issued over 267 awards, and invested about N9 billion into the award show.
Richard Mofe Damijo
At 62, RMD has continued to embody memorable characters while participating in some of Nollywood’s biggest exports. From ‘The Wedding Party’ to ‘King of Boys: The Return of The King’ to ‘The Black Book,’ the veteran actor has proven over the years his ability to take on any role and make it a hit. His career is simply a prime example of ageing with grace as he has retained his spots as one of the top actors in the scene decades from his debut as Segun Kadiri in the Amaka Igwe classic ‘Checkmate.’
In 2023, he made the list of 398 artists and executives who were invited by The Academy of Motion Picture Arts and Sciences, AMPAS as new members. Additionally, he was appointed the Chairman, Board of Directors, at Anakle Films, the producers of the Nollywood global blockbuster Netflix film ‘The Black Book.’ The film currently holds records as the most dominant Nigerian film on Netflix in top markets, boasting an impressive viewership of 11 million.
Kene Okwuosa and Moses Babatope
FilmHouse Group is unarguably Nigeria’s biggest independent entertainment company, focused on the distribution and production of films across the globe. Under the leadership of Kene Okwuosa and Moses Babatope, the company has redefined the cinema experience with state-of-the-art cinema technologies.
With Filmoone, which has exclusive distribution contracts with 20th Century Fox, Warner Bros, Walt Disney, Sony Pictures and other Hollywood studios, this duo has become one of the industry’s game changers.
In their ten years in the industry, they’ve used their platform to support Nollywood, either through raising international capital funds like the 2019 $1 million fund with China’s Huahua Media that led to films like ‘Quam’s Money,’ ‘Kambili,’ ‘The Wedding Party 2,’ ‘The Prophetess’ and more, or the Group’s streaming video-on-demand platform MyFilmHouse that gives Nigerians access to foreign films and extends the reach of Nollywood films to international audiences.
In 2022, the entertainment company had the highest local box-office performance, bringing about a whopping N714 million after producing 12 movies in 2022, including ‘Dinner at My Place,’ ‘The Blood Covenant,’ ‘Ile Owo,’ ‘The Order of Things,’ ‘Passport,’ ‘Battle on Buka Street,’ ‘Obara’m,’ and ‘Ijakumo,’ among others. Generally, the company’s investment in co-productions accounted for 35% of box office revenues between 2020 and 2021.