Davido with the full name David Adedeji Adeleke is a Nigerian superstar who is a singer, songwriter and a record producer. He is highly rated in Nigeria and Africa because of his mind blowing songs. In this article, MakeMoney.ng take a look at how Davido made his money.
Davido was born on the 21st of November in 1992. He was born into a wealthy family and did not necessarily have to work hard to make his money but Davido was determined to stand out and make his own money and name. The Nigerian super star was born in Atlanta, Georgia but he relocated to Lagos at an early age.
His father Is a business magnate who is worth Billions of naira and his mother a university lecturer.
Davido schooled at the University of Oakwood in the United States and that is where music started for him. While in Oakwood University, He bought musical equipment and began to make beats. However, his poor performances in Oakwood University saw him leave the University and relocate to London.
In 2011, he decided to return back to Nigeria and and studied in his father’s owned University known as Babcock University. In the year 2015, Davido graduated from his father’s University where he studied music.
His break out
In the year 2011 when he came back to Lagos, he started work immediately in terms of making his name in the music industry. Davido’s first album was titled Omo Baba Olowo (Son of a rich man). It was the second single from the album titled “Dami Duro” that cement his journey to stardom and wealth.
Davido in his words when he broke out in the year 2011 stated:
“I have been doing music for like 1 year but I took it seriously in March of 2011. I was formerly in a group known as KB International in the United state of America. The group and myself were not working out very well so I thought and decided to just do my own thing and that was when I decided to come back to Nigeria. I was with and around people that loved music and had a passion for it. Since I loved music, I thought to myself that why can I not practice something I love and as well make money from it”
Davido made his money majorly from music. While his father is one of the richest business men in Nigeria, Davido is also a billionaire himself as far as Nigeria is concern. Davido deemed it important to work hard and make his own money and establish himself in the music scene. The singer spent five years as the co-owner of the record label, HKN. After those five years, he started his own record label in the year 2016 known as Davido Music Worldwide (DMW) where he signed Dremo, Dammy Krane and Mayorkun.
Davido in no doubt earns most of his money from the proceeds of album sales and live performances of the music artistes he signed into his record label. Here is how he made his money.
Selling of album and online income generation
Undoubtedly, Davido makes a huge sum of money from selling of his album and singles. However, that is not where making of his money ends (album sales), the Nigerian singer still makes his money from the views he get on his videos on Youtube and Vevo.
In 2018, Davido revealed that both of his songs “If” and “Fall’ had made massive money for him. Davido when signed into Sony’s RCA Records in the year 2016, stated that “If’ sold over 2 million copies as a single from his album, his other single titled ‘Fall” sold more than 10 million copies globally.
Live performances and shows
Apart from the known fact that he makes most of his money from album sales, he still makes a relatively significant amount of money from Live performances and shows.
In the year 2014, after Davido had released the single titled ‘Aye”, it was reported by various sources that the Nigerian superstar made about N3.5 million to N5.5million per show or per live performance.
That was just for the year 2014, at the moment (2018), Davido charges about N6million to N10million per show and per live performance in Nigeria. He charges about $20,000 to about $35,000 for live performances outside the shores of Nigeria.
Being highly sought after, he is never out of shows. He most probably pick shows: which to accept and which to decline
We cannot close the topic on how Davido made his money without mentioning one of the commonest ways celebrities make their money. Endorsement deals are certainly one way in which popular celebrities make their money and Davido is no exception.
Davido had his first endorsement deal with MTN Pulse. He also signed another deal with Guinness Nigeria.
In Guinness Nigeria deal, it was not revealed the particular amount of money Davido made from it but the MTN Pulse deal over N30million. In the year 2015, Davido and Yemi Alade were involved in another endorsement deal as they were Closeup youth ambassadors.
Davido’s Networth, Cars and Properties
Davido is worth about $20,000,000. This is his personal net worth, if you include his inheritance from his father, then, wow!
In the year 2014, Davido bought a house in Lekki which was worth in the region of N45 million. He did not make use of it but gave his longtime friend and producer for HKN music record label, Shizzi.
Davido also owns a house in Lekki which is worth around N140 million. The house in Lekki is a super finished four bedroom semi-detached duplex.
In the year 2017, Davido announced via his Instagram page that he had purchased a house in Atlanta, Georgia, USA which he termed as his vacation home and also joked that his daughter has the biggest room in the house. Davido is a US citizen and he visits the United State of America frequently.
When it comes to cars, he certainly has no problem with purchasing them at will. His garages both in the States and here in Nigeria are filled with cars of different kinds. In 2015, Davido purchased an Audi R8 coupe in the region of N22 million to N24 million just to celebrate his 23rd birthday and that was recorded as his 8th car.
Before purchasing the Audi R8, he has previously bought cars like 2012 Honda accord worth about N5 million, Porsche turbo worth about N20 million, a Range Rover Sport worth about N25 million and also a Chevrolet Camaro GS worth about N11 million. In addition to that, he also has cars like Audi flat back GGX 2012 worth about N9 million and also a white Bentley 2011 worth about N18 million.