While the list is unlikely to put an end to debates about the richest Nigerian musicians, it puts it in some perspective and is sure to leave some fans disappointed.
So, who is number one in Nigeria? Forbes has gone with Don Jazzy.
The Mavin Records boss is however number four in Africa with Star Boy Wizkid claiming the 7th spot, while his main rival Davido is ranked 8th.
Senegalese-American Hip Hop star Akon topped the list thanks to the over 35 million albums he has sold worldwide along with his numerous awards.
Akon is followed by South Africans Black Coffee and the legendary Hugh Masekela.
See the top 10 below:
2. BLACK COFFEE, SOUTH AFRICA
3. HUGH MASEKELA, SOUTH AFRICA
4. DON JAZZY, NIGERIA
5. TINASHE, ZIMBABWE-AMERICAN
6. JIDENNA, NIGERIAN-AMERICAN
7. WIZKID, NIGERIA
9. SARKODIE, GHANA
10. OLIVER MTUKUDZI, ZIMBABWE