American business magazine Forbes has just released this year's list of top five wealthiest hip hop artists. "The Forbes Five: Hip Hop's Wealthiest Artists" goes as follows:
1. Sean "Diddy" Combs
2. Andre Romelle Young (Dr. Dre)
3. Shawn Corey Carter (Jay Z)
4. Bryan Williams (Birdman)
5. Curtis James Jackson III (50 Cent)
Forbes came up with the list by:
"...looking at past earnings, valuing current holdings, leafing through financial documents and talking to analysts, attorneys, managers, other industry players and even some of the moguls themselves..."
Harlem's P. Diddy came out on top with an estimated $700 million due to launching Revolt TV which made him $300 million shy of becoming a billionaire. For the past four years, he came out as number one due to his Ciroc deal with Diaego and the founding Bad Boy Records, just to name a few.
Next on the list is Compton's Dr. Dre, who took over Jay Z's second place position from last year's Forbes list. Dr. Dre is sitting on a hefty $550 million thanks to co-founding Beats By Dr. Dre. "Private equity firm Carlyle invested $500 million for a minority stake last year, pushing Beats’ value past $1 billion and likely closer to $2 billion" stated Forbes.
Brooklyn mogul Jay Z placed third with a total of $520 million, causing him to lose to Dr. Dre by $30 million. By the end of the year he just may take back his number two position, just in time for next year's list. According to the L.A. Times, Hova announced today alongside Mayor Eric Garcetti, United Way and Budweiser that, L.A. will be the second city simultaneously hosting this year's Made In American music festival with Philadelphia for Labor Day weekend. The money maker icon didn't stop there. Page Six released an exclusive report today that, he and Beyonce will have a "20-stadium US tour that will start in late June — and that it’s possible the couple could perform in New York on July 4."
Co-founder of Cash Money Records, Birdman, placed fourth with $160 million. The New Orleans native also oversees the YMCMB clothing line, YMCMB members and GT Vodka. Forbes did note that Birdman would have had an estimated $300 million if his brother and co-founder Ronald weren't in the picture.
Lastly is 50 Cent who placed with $140 million. According to Forbes, most of his fortune comes from his 2007 deal with Vitamin Water. The Jamaica, Queens rapper also has his G-Unit Record company, brand of SK Energy beverages and partnership with SMS audio under his belt.