Tony Elumelu: His Relationship with Wizkid and Their Multi-Million Deals

Nigerian Entrepreneur and Investor, Tony Elumelu whose influence extends beyond the realm of business has a close relationship with Ayo Balogun, popularly known as Wizkid. Their relationship which transcends mere acquaintanceship exemplifies Elumelu’s passion to empower African entrepreneurs.

Elumelu and Wizkid’s relationship highlights the potential for collaboration between influential figures in different industries. It is also important to note that their relationship has birthed multi-million dollar deals and showcased their mutual belief in the power of entertainment and entrepreneurship. Let’s briefly examine the relationship between Elumelu and Wizkid as we proceed with this article.

Mentee-Mentor Relationship

Elumelu who has trained, mentored and funded over 15,487 young African entrepreneurs across all 54 African countries through the Tony Elumelu Foundation programmes is a mentor to Wizkid. The popular music sensation revealed this in an Instagram post three years ago. Celebrating Elumelu he wrote, “Big Happy birthday to my mentor, a visionary and a blessed and amazing human. God bless you, sir.”

Wizkid, who ranks 5th on Forbes’s richest and Bankable African Artist has learnt a lot from Elumelu. Through his relationship with Elumelu, he has been privileged to talk about African music and business in a chat tagged “Afro Pop meets High Finance.”

Elumelu’s hangout in Mali

Also, Wizkid was spotted hanging out with Elumelu in Mali. They were both dressed casually and were seen staring at the screen of a phone. Elumelu who shared the photos on Instagram, revealed that Wizkid performed an event in Mali. 

Wizkid as UBA Ambassador

Another proceed of Elumelu and Wizkid’s relationship is the $3 million deal signed between them. Elumelu who was Chairman of the United Bank of Africa in 2019 signed a $3 million brand ambassador deal with Wizkid. The deal which covered adverts, performances and partnerships was signed by the Starboy Entertainment Boss in African Music.

Speaking on the reason behind the choice of Wizkid as the Bank’s brand ambassador, Group Managing Director of United Bank for Africa (UBA), Kennedy Uzoka said “We are unveiling Wizkid as our brand ambassador to show our unrelenting support for SMEs and to further create a platform for them to thrive. This is a strong collaboration that will help us as an institution to propel our dream of making Africa a truly self-sufficient economy.” 

In reaction, Wizkid said, “It is my passion and my biggest dream to help the youth and to build schools around Africa, and this partnership, I believe, is a step towards that direction; UBA and Wizkid, now let’s change the world.”

His presence at the 2021 Christmas party

Beyond the multi-million dollar deal, Wizkid has performed at Tony Elumelu’s annual Christmas party. In 2021, Wizkid performed alongside Davido and Burnaboy. Tagged “TOE Magical Christmas” Wizkid thrilled guests as he graced the stage at the party. Reports say, he also performed hit songs such as ‘Bad To Me’, ‘Soco’, and ‘Essence’ at the 2021 fiesta held in Lagos.

Wizkid’s performance at his 60th birthday party

Elumelu was surrounded by loved ones and esteemed colleagues as he celebrated his 60th birth anniversary. The birth celebration which began with a special symposium at the Tony Elumelu Amphitheatre in UBA House concluded with a star-studded event that featured Wizkid’s performance, alongside CKay and Flavour.

Elumelu’s dynamic partnership with Wizkid underscores the intersection of business and entertainment. His determination to see young entrepreneurs flourish is also seen in the recent invitation extended to Hilda Baci to be among the top dignitaries that were present at the 2023 edition of the UBA Africa Conversation event in Lagos.