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Finance How David ‘Davido’ Adeleke makes and spends his money

Davido rakes in thousands of Dollars and Millions of Naira making music and performing at shows aside endorsement of top African brands.

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  • Davido has earned himself a spot on the list of Nigeria and African’s music stars with just seven years on the music scene.
  • Davido earns cool millions of Naira from the proceeds of album sales and performance fees of the music artistes signed on his record label.
  • Not resting on his oars, Davido joined Wizkid and Tiwa Savage on the Pepsi league, hence, earning himself an ambassadorial for the beverage company in Africa.

 

David Adeleke aka Davido has earned himself a spot on the list of Nigeria and African’s music stars with just seven years on the music scene.

Spreading the tentacles of his music business and tunes to different parts of Africa and the world at large, Davido rakes in thousands of Dollars and Millions of Naira making music and performing at shows.

Business Insider Sub Saharan Africa delves into how the 25-year-old pop singer who refers to himself as the millionaire son of a billionaire makes and spends his money.

How Davido makes and spends his money play

Davido  is one of the richest Nigerian and African musician

(Sauci)

 

How he makes his money

Davido with his Bentley at his Atlanta Georgia home play

Davido with his Bentley at his Atlanta Georgia home

(Instagram)

 

Despite his father’s immense wealth - the singer’s father is a Nigerian business magnate with interest in real estate, oil and manufacturing - Davido has been able to work hard to earn his place on the Nigerian music scene. After five years on a co-owned label, HKN, Davido kicked off his solely owned record label, Davido Music Worldwide in 2016 and signed on Dremo, Dammy Krane and Mayorkun after which he had signed on music producers on the same label.

Davido earns cool millions of Naira from the proceeds of album sales and performance fees of the music artistes signed on his record label.

Album sales and online income generation

 

Without doubt, Davido earns quite huge sums from sales of his albums and singles. His earnings for his musical works doesn’t end with album sales only as the music act also smile to the bank with proceeds of the views garnered by his videos on YouTube and Vevo.

Only in 2018, Davido announced that his hit songs “If” and “Fall” had gone diamond and platinum in sales respectively.

Davido, who was signed to Sony's RCA Records in 2016, made his announcement when he was at Sony Music Entertainment office in the United States of America in February 2018. While “If” technically sold over 2 million copies as a single from his album, ‘Fall’ had a sale of more than 10 million units globally.

Life Performances and shows

In 2014, the Vanguard reports that Davido was raking between N3million and N3.5million per show after the release of his hit banger, ‘Aye.’

At the moment, industry experts says Davido charges between N6 million and N10 million for shows within Nigeria and between $20,000 – $35,000 for shows outside the shores of Nigeria.

Endorsement deals

 

Davido landed his first endorsement deal with MTN Pulse after which he went on to become one of the telco’s leading ambassadors. He signed another deal with Guinness Nigeria years later which was also valued at tens of millions of Naira.

While the specific figures for the Guinness deal was not revealed, Davido’s contract with MTN is reported to have earned him N30 million.

In 2015, Davido and Yemi Alade were revealed as Closeup youth ambassadors, thereby increasing the fortunes of the singer.

Not resting on his oars, Davido joined Wizkid and Tiwa Savage on the Pepsi league, hence, earning himself an ambassadorial for the beverage company in Africa. The Pepsi deal was touted to have earned Davido a whopping N100 million.

Early in 2018, Davido announced via his Instagram account that he has sealed yet another endorsement but refused to reveal the terms of contract or name of brand.

How he spends his money

Davido has an undying love for these three things and he doesn’t hesitate in spending heavily on them.

 

These are Automobiles, Jewelry and Houses.

At just 25, Davido has in his garage automobiles worth over N400million and three houses valued at N80million, N140million in Lekki as well as a vacation home in Atlanta Georgia.

 

In his kitty are Audi 2015 Model worth over N20million; Porsche Carerra worth over N40million; Mercedes Benz Sedan AMG series worth over N50million; Mercedes Benz AMG series (G – Class) worth over N45million; Toyota Land Cruiser worth N17.5million; Range Rover Sport 2015 model worth over N35million and recently added a Bentley bentayga valued at N72million to the existing fleet.

Davido with two of his cars, an Audi and a porsche play

Davido with two of his cars, an Audi and a porsche

(TalkGistz)

 

In 2016 at just 23, this self-professed son of a billionaire bought himself a nice apartment in Atlanta Georgia, United States of America touted to have cost him N33million. The acquisition is coming merely months after he revealed the completion of his N140million mansion tucked inside highbrow Lekki in Lagos, Nigeria.

Never home but always repping!! @_infiniteconstruction great work!

A post shared by Davido Adeleke (@davidoofficial) on

In 2013, two years after the release of his first single and album, Davido shared his newly acquired property in Lekki on Instagram with the caption: “OBO mansion”. Dreams come true! I remember my room back in Babcock. Small a*s f**k. See what 2years & hard work gets you! #Dreamchasers!! We just getting started.”

Davido with some of his jewelries play

Davido with some of his jewelries

(Instagram)

 

 

Meanwhile, Davido’s acquisition of jewelry can be nothing short of legendary. He has patronised all the celebrated jewelers from Nigeria to London and New York.

Davido spends heavily on jewelry play

Davido spends heavily on jewelry

(Instagram)

 

His neck chains and rings are mostly customized and shinning with stones that diamonds and golds, while his wristwatches range from the most expensive Rolex wristwatch to customized gold wristwatches.

The Humanitarian side

Davido isn’t all about spending his funds lavishly on acquisition of properties, automobiles and jewelry only, he also enjoys lavishing funds on his genuine fans and people around him generally.

Nigerian entertainment industry watchers say the young musician has helped many of his team members get properties in highbrow Lekki area, Lagos Nigeria and even went as far as gifting them automobiles as reward for their loyalty to his career and person.

A young Nigeria, who remixed his hit single, ‘Fall’, reportedly earned himself a new house and undisclosed amount of cash while a fan who bears the same name as David Adeleke got himself funds to finish his course in an American university three years ago.

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