Sarkodie Named in Forbes top 10 richest musicians in Africa

The financial strength of the African music industry took center stage on December 5 2018 when Forbes Magazine unveiled its highly anticipated ranking of the top ten richest musicians on the continent.

The definitive list evaluated artists based on verified album sales endorsement value performance show rates and major corporate contracts. While the announcement brought massive celebration for the Sarkcess Music camp it also fueled widespread social media debates after self-acclaimed dancehall king Shatta Wale was completely absent from the ranking.

Senegalese-American icon Akon safely maintained his legendary number one position with an estimated net worth of $80 million. The Konvict Music CEO has sold over 35 million albums globally and earned five Grammy nominations. Following closely in the second spot is South African house music pioneer Black Coffee who boasts a net worth of $60 million. The brilliant electronic music DJ established his global dominance after winning the Breakthrough DJ of the Year award in Ibiza back in 2005.

Nigeria Dominates the Middle Tier

The wealthy ranks of the West African music ecosystem feature heavily in the middle section of the Forbes list.

• Don Jazzy ($30 million): The Mavin Records boss and MTV ambassador climbed to the third spot thanks to his incredible production credits and sharp entrepreneurial skills.
• Wizkid ($20 million): The Starboy CEO ranks fourth holding a massive global footprint after major international chart collaborations.
• Davido ($16 million): Moving confidently at fifth place the Omo Baba Olowo hitmaker achieved extraordinary mainstream success in just six years of his professional career.

Sarkodie Holds It Down for Ghana

Sarkodie proudly stands as the sole representative from Ghana on the prestigious list ranking solid at the sixth position with an estimated net worth of $7 million. Moving from an underground rap battle competitor to an absolute reference icon for African youth the legendary rapper has won multiple international accolades. His business acumen also led to the launch of his personal clothing line in 2013 proving that modern artists can successfully monetize their personal brands far beyond the microphone.

The remaining spots on the Forbes chart highlight incredible cross-border appeal and rich musical history. Zimbabwean-American singer Tinashe takes the seventh spot with $6 million serving as the only female artist on the list. The late South African jazz legend Hugh Masekela holds the eighth position with $1.5 million leaving behind a historic legacy of over 43 albums. Nigerian-American performer Jidenna sits at ninth with $1 million while legendary Zimbabwean multi-instrumentalist Oliver Mtukudzi wraps up the top ten after a remarkable 41-year career spanning over 65 studio albums.

Three Factual Insights on the African Music Economy

1. Forbes Africa explicitly builds its specialized entertainment wealth rankings by aggregating streaming royalties asset ownership and certified corporate brand endorsement data.
2. The global explosion of contemporary African music genres like Afrobeats and Highlife drastically increased foreign venture capital investments in regional record labels during 2018.
3. Sarkodie historically set the pace for Ghanaian digital commercialization by becoming the very first local artist to win the Best International Act Africa category at the BET Awards.

Building a massive net worth in the creative arts requires strategic long-term vision alongside raw performance talent. While popularity on social media platforms creates massive hype Forbes focuses strictly on cold hard financial data and legally binding contracts. True financial kings are ultimately crowned inside the corporate boardroom rather than through self-acclaimed titles online.

Also Read: Sarkodie on Track to Make History as First Ghanaian Rapper to Hit 400 Million Spotify Streams

Source – ghananewspage.com