This article will analyse the richest Nollywood actors in the year 2020. Nollywood, which is the third-largest movie in the world, has produced a lot of wealthy and talented actors.
According to one.org, Nollywood is worth about 5 billion dollars, making it the most profitable venture in the Nigerian entertainment sector.
How the Richest Nollywood Actors make their money
Starring in big-budget movies
Big budget movies have always been a catcher for these rich Nollywood actors, as starring in them, earn actors big bucks.
Since the last decade, there has been an increase in the budget of Nigerian movies. That is a result of the use of sophisticated cinematic production and logistic cost, most especially Nollywood movies made for the cinema.
For instance, the movie ‘Half of a Yellow Sun’ had a budget of 1.8 billion Naira. Nollywood actors who star in high-budget movies of that kind will smile up with huge earnings.
Large and famous companies are always on the lookout for famous Nollywood stars to become the face of their company. That has made a lot of Nollywood actors rich.
For instance, Hafiz Oyetoro signed an endorsement deal with MTN in 2013, for a deal worth more than 20 million Naira. The more sellable a Nollywood actor is, the better his chances of clinching mouthwatering endorsement deal.
Another way rich Nollywood actors make money is through producing and investing in their movie or creative project. A lot of actors have embraced movie production as a way of earning a high income.
Top 10 Richest Nollywood Actors 2020
Being a Nollywood actor is often seen as a ticket to fame and opulence. An A-list Nollywood actor is known to make over 800,000 Naira per movie. Read below to find the Richest Nollywood Actors in 2020.
Desmond Elliot is a great actor, with good looks to match. He has acted in more than a hundred movies and television series.
The Lagos-born actor had his first movie stint in popular soap opera’s Everyday people. He has several top-notch awards to his credit like the African Movie Academy Awards and the Nigeria Entertainment Awards.
He is currently a politician and a legislator in the Lagos state House of Assembly. Desmond Elliot is said to be worth more than 8 million dollars. He is well-loved by his fans and his constituency.
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Richard Mofe Damijo
Affectionately known as RMD, the 58-year-old actor is among the few actors who are still creatively relevant in spite of their decades of work in the industry.
He first worked as a journalist for newspapers before delving into the movie scene. He has also been involved in politics as he served as Delta state’s commissioner for Tourism in 2009.
He is said to be worth 7 million dollars in 2020. He has a flair for purchasing luxury cars. He owns a BMW 4 Series Coupé, which he bought for 20 million Naira and a Toyota Landcruiser, which costs 25 million Naira.
Jim Ikye is widely known as a rich Nollywood actor. The actor was born 42 years ago in Gabon and has gone ahead to star in over fifty Nollywood movies.
Jim Ikye started his acting career 19 years ago and has emerge as the most celebrated and highest-paid actor in Nigeria.
According to celebrityworth.com, he is worth about 30 million dollars. He is also an entertainment investor as he owns a movie production company and record label.
This Rich Nollywood actor has been starring in Nollywood blockbuster since 1998. His birth name is Ramsey Tokunbo Nouah Jr. His father is an Israeli while his mother is from Ondo state.
Though typecast in romantic roles, he has left a mark in the movie industry. He is highly sought-after in the industry for his charisma, talent and good looks. He said to be worth 4 million dollars.
Nkem Owoh is popularly known as ‘Osufia’ is among Nollywood richest actors. He starred in more than 300 movies and is known to clinch a mouthwatering MTN deal.
Nkem’s popularity skyrocketed after his role in the movie Osuofia in London. In 2018, he starred in the movie lionheart, which was procured by the streaming giant, Netflix
He is also a real estate merchant and has made excessive wealth from his landed property in Enugu. He is said to be worth 4 million dollars.
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