Olamide Net Worth 2024, sources of income, endorsements, and lifestyle: Olamide is a rapper from Nigeria whose estimated net worth is $10 million or N5 billion in naira. Through his singing career, sponsorships, and other companies, the singer acquired his money. Olamide is regarded as one of the top musicians in the Nigerian music scene thanks to his wealth and successful music career. He is one of the entertainers who has gone above and beyond in using their gifts to make others happy. The rapper and vocalist of Afrobeats started his professional music career in 2000 and has since made major strides in the music industry.
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How Olamide Attained a $10 Million Net Worth
Olamide did not come into the world with riches and fame, but he achieved them through perseverance and hard labour. The Eni Duro musician persisted in making a life on the streets of Lagos despite all the obstacles and hardships he encountered, putting in a lot of effort and hard labour. which might plausibly pay off in the future. With so many hit tracks under his belt now, he has established himself as a musical superstar. The three recognised sources of Olamide’s substantial net wealth are as follows:
- Music
- Endorsement deals
- Other Businesses
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Music is the Biggest Contributor to Olamide’s Net Worth
Olamide makes money in a variety of ways, but his music unquestionably takes the prize. Before he was well-known enough to engage in money-making activities like signing endorsement deals and launching his record label, Olamide was already generating a respectable living from the sales of his singles and albums.
Olamide has undoubtedly established himself as a well-respected and prosperous musician in Nigeria. The singer upped his game and joined the group of Nigerian singers that demand millions of Naira for appearances and concerts after finding popularity with his song Eni Duro.
Since then, as his reputation and popularity in the industry have grown, the afrobeat star has been raising his rate. According to current reports, Olamide bills N2-N4 million for each performance. Additionally, Olamide still makes a big portion of his money from record sales. Given the recognition and success of the most of his records, we would be looking at a sizable sum. Due to the millions of views and likes he receives on the streaming service, Olamide also has an official YouTube page where he promotes and sells his songs.
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YBNL Record Label
Olamide was signed to ID Cabasa’s Coded Tunes Recording Company prior to the establishment of his record label. A rumour that he inked a deal with D’banj’s DB Records started to circulate when he quit the label and decided he wanted to release his second studio album, YBNL. Olamide quickly shot down the rumours, claiming that because he had just started his own record label, it was now too late for any record company to sign him.
Following the establishment of his label YBNL Nation, Olamide transitioned into business. The acronym YBNL, which stands for Yahoo Boy No Laptop, signifies a young guy who makes a solid living without taking part in any online fraud or internet scams. Olamide’s music label, which was established in 2012, is best characterised as a street-focused record company.
Olamide and two of his longtime buddies, 2kriss and ida Kudz, formed YBNL from the beginning as a group. Before disbanding, the group was able to record one song, “Road to BNL.” Except for the debut album, Rhapsodi, all nine of Olamide’s studio albums were released on this imprint. However, it is certain that Olamide’s role as head of a record company contributed to his wealth. He may retain all the earnings, including the portion that invariably goes to a record company each time an artist requests to make songs, to himself thanks to his music label.
YBNL has signed well-known musicians including Lil Kesh, Adenkunle Gold, and Fireboy during its tenure. While those artists have since departed the label, YBNL presently has Fireboy, and most recently Asake, one of Nigeria’s most promising musicians, as a signee artist. Olamide, the head of the record company, has received a cut from each of these musicians as they continue to release popular songs and albums.
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Endorsement Deals
Due to his excellent career and celebrity status, the Nigerian singer/rapper has continued to draw several elite firms for sponsorships. He and Ilce Prince became Etisalat’s brand ambassadors in 2013 together. The same year, he signed on to serve as the brand ambassador for Ciroc I Ultra Premium Vodka.
The fact that Olamide was the first Nigerian rapper to sign a contract with the business, joining worldwide talents like Rick Ross, Ray Jay, French Montana, and others, is noteworthy in addition to the fact that this arrangement is reportedly worth millions of Naira.
2017 saw Olamide secure a deal to serve as Sterling Bank Plc’s first brand ambassador. With Ice Prince becoming the first musician to be formally recognised in the Nigerian banking industry, this gave the singer even another accomplishment. He joined celebrities including Nollywood actor Odunlade Adekola in 2019 as a Goldberg Lager brand ambassador.
Although the value of each of these agreements is unknown, Olamide’s $10 million net worth would not have been possible without them. The superstar has promoted the following brands in the past and the present.
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Etisalat
Hennessy
Guinness
Peak Milk
Sterling Bank Plc
Globacom
Itel Mobile
Goldberg Lager beer
Olamide’s Assets in Businesses
Olamide is more than just a musician, as was already said. But as his career developed, he saw that he needed to create something solid outside of music. As a result, he expanded into business.
Olamide has a petroleum business that lets him bring in decent money in addition to his performances and exhibitions. He therefore owns two fueling stations in the state of Lagos. One is near his Bariga home on the Mainland, while the other is on an island. Each of them brings in about 2 million naira every month for him. Based on the volume of business, it can be higher or lower.
Lifestyle
Although particular information regarding Olamide’s possessions and way of life may not be well known, it is clear that his sizable net worth enables him to have a comfortable existence. He made care to construct two homes: one in Lekki and the other in his hometown. These homes are not ordinary dwellings; rather, they are luxurious homes deserving of his stature. You can’t help but be impressed by their furniture and decor, which exude affluence.
Like many great artists, he enjoys a luxury lifestyle befitting his position and owns more opulent homes, expensive cars, and other possessions. He engages with his followers and keeps them informed about his most recent projects and performances by maintaining an active presence on a number of social media channels.
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Conclusion
It is quite amazing how Olamide managed to make it from the streets of Lagos to one of Nigeria’s most popular rappers. He has accumulated a substantial net worth via his talent, diligence, and business endeavours. about $10 million in value in 2023. The financial success of Olamide is a tribute to his talent for music, commercial savvy, and dedication to his trade.
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