Ahmed Ololade, better known as Asake or Mr. Money, has risen from Lagos street-pop roots to become one of Afrobeats global music icons. His sound — a unique fusion of Yoruba, amapiano, and Fuji, has taken him from a small time player to being one of Nigeria’s richest music stars.
This article looks at Asake net worth, biography, age, assets, achievements, income sources and his rise to becoming one best singers in nigeria.
| Real Name | Ahmed Ololade |
|---|---|
| Stage Name | Asake (Mr Money) |
| Date of Birth | January 13, 1995 |
| Age | 30 years |
| State of Origin | Lagos State |
| Nationality | Nigerian |
| Tribe | Yoruba |
| Religion | Islam |
| Height | 5’7″ (170cm) |
| Education | Obafemi Awolowo University (OAU) |
| Profession | Singer, Songwriter |
| Record Labels | Formerly YBNL/EMPIRE; now linked to Giran Republic (2025) |
| Estimated Net Worth | $10.5 million (₦16.0 billion) |
| Major Tours | O2 Arena, MSG (Lungu Boy World Tour) |
| Popular Songs | Lonely at the Top, Terminator, Sungba, Joha, Peace Be Unto You |
| Weight | ~74 kg |
| Marital Status | Single |
Asake Biography and Age
Ahmed Ololade was born on January 13, 1995, in Lagos, Nigeria. Asake is 30 years old as of 2025.
Growing up in a Yoruba household, he was heavily influenced by Fuji, street-pop, and Yoruba performance culture — elements that shaped his unique Afrobeats sound.
READ: Rema Biography and Age
Family & Education
Asake was born to Muslim parents in Lagos. His father Mr. Ololade, was a businessman and his mother was a teacher. While he keeps much of his family private, it’s known that his stage name Asake comes from his mother’s name, a nickname friends extended to him as “Omo Asake.”
He attended Obafemi Awolowo University (OAU) in Ile-Ife, where he studied Theatre & Performing Arts. His time at OAU gave him a strong foundation in stage performance and crowd engagement — qualities that would later become hallmarks of his shows at sold-out arenas worldwide.
Music Career
Asake’s music journey began at a young age. He started as a drummer and member of his high school band.
After graduating OAU where he was known for his exceptional dancing skills, he started to take his music serious by dropping small freestyles and online snippets that showcased his mix of Yoruba street slang, amapiano rhythms, and Fuji vibes.
In 2015, he became a backup singer for skit-maker Broda Shaggi, and in 2019, they released a song titled ‘Star’ which went mostly unnoticed.
In 2020, Asake released his first song titled ‘Lady‘ which gained widespread recognition, but his breakthrough came with the release of his hit single “Mr Money”.
His momentum caught the eye of Olamide, who signed him to YBNL Nation in 2022 with EMPIRE as his music distributor.
In 2022, he released his first EP titled Ololade Asake which housed tracks like Sungba and Omo Ope, featuring Olamide, and in that same year, he released his debut album Mr Money With The Vibe, which broke streaming records and positioned him as Afrobeats’ hottest newcomer.
In 2023, he solidified his global presence with the album Work of Art and sold-out concerts across Europe and North America, including the iconic O2 Arena in London. By 2024, his third album Lungu Boy proved he wasn’t a one-hit wonder but a consistent hitmaker. In 2025, he took a major step by launching Giran Republic, his independent label, starting with the single Why Love.
What is Asake Net Worth in 2025?
As of 2025, Asake’s net worth is ₦9 – ₦16 Billion which is equivalent to $6 – $10.5 million dollars. His revenue is driven by streaming, tours, endorsements, and his 2025 move to independence under Giran Republic.
Factors Affecting Asake’s Wealth
Asake’s fortune is not simply the total of his gross earnings. Like every major artist, a large portion of what he generates never reaches his personal accounts. For much of his rise, YBNL and Empire controlled distribution, taking their share of streaming and performance revenues before he got his cut. Even now under Giran Republic, those earlier contracts still affect royalties from his older catalog.
On top of label splits, international touring revenue is heavily taxed. Shows in Europe and North America are subject to withholding taxes that can range between 15–30%, significantly reducing the money he takes home from arena dates like the O2.
Then there is the cost of maintaining the lifestyle that comes with his status. High-value purchases such as a ₦400M Lagos mansion, luxury vehicles, security, staff, and international travel all eat into earnings. These are not optional expenses for a star operating at his level — they are part of sustaining both his brand and personal comfort.
When these deductions are accounted for, the picture of his finances changes. Instead of the inflated figures often quoted by other sources, Asake’s realistic retained wealth sits in the ₦9 – ₦16 billion naira range, which is still extraordinary for an artist who only broke through in 2022.
How Does Asake Make His Money?
1) Streaming & Royalties
Asake’s catalog is one of the biggest drivers of his fortune. On Spotify, his songs have surpassed 2,564,963,048 streams as of September 2025, with nearly 1.94 billion coming from tracks where he is the lead artist. Beyond Spotify, he dominates on Apple Music and Boomplay, and his 2024 album Lungu Boy set a record opening day on Spotify Nigeria with 9.2 million streams. On Audiomack, his hit Lonely at the Top became the first song ever to reach 100 million streams on the platform.
2) YouTube Monetization
Asake’s official videos also generate steady revenue. For example, Lonely at the Top (Official Video) has crossed 70 million views on YouTube, while other singles like Sungba and Amapiano have multi-million view counts.
3) Tours & Live Performances
In August 2023, Asake sold out London’s O2 Arena (20,000 capacity). BusinessDay estimated the show grossed about ₦2.86 billion from ticket sales. That figure suggests an average ticket price of around ₦143,000 (≈ US$90–US$180 depending on exchange rates at the time). He sold out 02 again in September 2024, proving his consistent arena demand.
4) Festival Bookings
He has also been a featured act at Afro Nation (Portugal 2024) and Wireless Festival (London 2024) — both festivals known for premium artist fees and international exposure.
5) Brand Endorsements
Asake has signed deals with Parimatch, Roqqu, and Glo and Coca-Cola. While contract figures aren’t public, these partnerships strengthen his yearly endorsement revenue.
6) Merch & Fashion
Tour merch and Yoruba-inspired fashion collaborations add incremental income, particularly during international shows where fans spend heavily on merchandise.
7) Label & Business (Giran Republic)
With the launch of Giran Republic in 2025, Asake now controls more of his catalog, ensuring he keeps a larger portion of royalties and publishing income.
8) Publishing & Licensing
By owning much of his catalog, Asake secures royalties from radio play, syncs, and neighboring rights, giving him consistent background revenue.
Projected Earnings
| Source | Projected Retained Range (₦) | Basis |
|---|---|---|
| Streaming (Spotify, Apple, Boomplay) | ₦3.0B – ₦5.0B | Verified platform streams (2.56B+ Spotify, Audiomack milestone) |
| YouTube | ₦100M – ₦300M | Multi-million official video views |
| Tours & Headline Shows | ₦2.0B – ₦4.0B | O2 Arena sell-out (₦2.86B gross) scaled across annual touring |
| Festival Slots | ₦200M – ₦400M | Confirmed Afro Nation / Wireless performances |
| Endorsements | ₦300M – ₦700M | Confirmed Parimatch, Roqqu, Glo deals (values undisclosed) |
| Merch & Fashion | ₦50M – ₦150M | Tour-cycle merch & collabs |
| Label (Giran Republic) | ₦300M – ₦600M | Increased revenue share from 2025 |
| Publishing & Licensing | ₦150M – ₦300M | Catalog control + PRO collections |
Assets & Lifestyle
Beyond music, Asake has invested heavily in real estate and luxury cars, reflecting his fast rise in the Afrobeats industry. Known for his stylish persona, he often flaunts a mix of high-end rides and homes in both Nigeria and abroad.
Cars
Below is a list of all Asake’s cars:
- Range Rover Autobiography
- Mercedes-AMG G63
- Lamborghini Urus
- Tesla Cybertruck
Houses
Below is a table showing all his houses as of 2025:
| Property | Estimated Value (₦) |
|---|---|
| Lagos Mansion | ₦400M+ |
| California Mansion | reportedly ₦1.15B |
Jewelry & other Luxury Items
Asake is also known for flaunting high-end accessories that reinforce his image as “Mr. Money.” His collection includes:
- Richard Mille and Rolex watches, often seen in performances and videos.
- Multiple custom diamond chains, including Yoruba-inspired pendants.
- Luxury fashion from brands like Balenciaga and Louis Vuitton.
Estimated Net Worth Growth Over Time
| Year | Growth | Key Drivers |
|---|---|---|
| 2021 | < ₦500M | Early singles |
| 2022 | ₦2B+ | YBNL signing, Omo Ope |
| 2023 | ₦6B+ | Mr Money With The Vibe, O2 Arena |
| 2024 | ₦10B+ | Work of Art, endorsements |
| 2025 | ₦9B–₦16B | Giran Republic + tours |
Awards & Achievements
Asake’s career has been decorated with awards and chart recognitions that underline his impact in Afrobeats.
He surpassed 2.5B streams on Spotify in only three years, making him one of the most streamed Nigerian artists.
His sold-out O2 Arena show in 2023 confirmed his international reach. Alongside this, he has collected Headies and AFRIMA awards, and his albums have topped charts on Apple Music, Boomplay, and Billboard, making him a consistent hitmaker.
- Headies Awards: Next Rated (2022 – won), Album of the Year (Mr Money With The Vibe).
- AFRIMA Awards: Best African Collaboration, Breakout Artist (2023- won).
- Grammy Nomination (2024): For his album Work of Art in the Best Global Music Album category.
- Multiple chart milestones, including Apple Music Nigeria’s most-streamed artist of 2023, and Audiomack’s first 100M-stream single (Lonely at the Top).
Philanthropy
Though low-profile, Asake has contributed to grassroots initiatives in Lagos and has donated proceeds from certain concerts to local charities. His giving may not be widely publicized, but it reflects a growing commitment to community as his influence expands.
Controversies & Challenges
Asake’s career has not been without setbacks. He has faced criticism for the pricing of his concert tickets, which some fans consider out of reach. The 2022 London crowd surge incident raised concerns about safety at his shows. More recently, his departure from YBNL to launch Giran Republic led to speculation about industry disputes, although it has since strengthened his independence.
Asake in Comparisons with Other Artists
In terms of wealth, Davido is richer than Asake, while Wizkid and Burna Boy also remain ahead due to their longer track records and global tours. Within his generation, however, he is catching up to Rema, creating one of Afrobeats’ most exciting rivalries.
| Artist | Net Worth | Why |
|---|---|---|
| Rema | ₦18B | Calm Down, global endorsements |
| Asake | ₦9B–₦16B | Streaming, tours, endorsements |
| Seyi Vibez | ₦6 billion – ₦9 billion (See Seyi Vibez Income Breakdown) | Street-pop powerhouse, Vibez Inc. label |
| Shallipopi | ₦800M–₦1.8B (See Shallipopi’s income) | Rising star, limited catalog |
What’s Next for Asake?
With the launch of Giran Republic, he has entered the next phase of his career as both artist and label owner. His upcoming world tour is expected to further boost his earnings, and there are rumors of U.S. property investments. Expanding into fashion and real estate seems likely as he diversifies his portfolio.
Quick Facts About Asake
Is Asake married?
No, Asake is not married and has no publicly known children.
How Tall is Asake?
Asake stands 5’7″ (170cm) tall.
Which record label is Asake signed to?
He began under YBNL/EMPIRE and in 2025 he launched his own label Giran Republic with gamma as his music distributor.
Does Asake own a house in the United States?
Yes, Asake is reported to own a multi-million-dollar house in California which he purchased in 2025.
How much does Asake Charge for a show?
As of 2025, Asake is said to charge up to US$500,000 for international concerts and ₦30M+ for Nigerian shows, with his O2 Arena show in 2023 marking a career highlight.
Conclusion
From his breakout under YBNL to launching Giran Republic, Asake has built one of Afrobeats’ most impressive careers in a record time. With fortune estimated at ₦9B–₦16B in 2025, he is already among Nigeria’s richest new-generation stars.
His next moves — world tours, brand expansions, and business ventures — will decide whether he can soon rival Davido, Wizkid, and Burna Boy, or even surpass Rema.
