Along with all of those accolades, Sean Combs ranks number one on this year’s Forbes list of ‘Wealthiest Hip-Hop Artists,’ topping the list with a whopping $700 million. That’s right, he’s a mere $300 million away from being a billionaire.
Diddy made $120 million more than he did last year, mostly due to Revolt TV, his cable music channel. Speaking to Forbes, the mogul mentioned how he’s trying to make the channel just as successful as he is:
“Right now my focus is Revolt and making it the number one, most-trusted, most credible worldwide brand for music. And to get Revolt to be the quintessential definition of real time. I think that’s the future.”
Coming in at number two on the list is Beats head honcho Dr. Dre, who made $550 million, beating Jay Z this year, who is now number three with $520 million.
Beats By Dr. Dre, which he cofounded with Interscope chief Jimmy Iovine in 2008, controls two-thirds of the premium headphone market, with sales nearing the $1 billion mark every year. 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.
Hov’s not too far from reclaiming his spot, as he continues to make multiple nine-figure deals, such as his $204 million Rocawear sale in 2007 and his $150 million pact with Live Nation in 2008. His record label/management firm Roc Nation is home to many money-making artists such as Rihanna, Kylie Minogue, Timbaland, andMeek Mill. He recently added a sports agency to the mix, managing the careers of star athletes like Kevin Durant, Skylar Diggins, and Robinson Cano’s $240 million monster deal.
Cash Money’s Birdman comes in at number four, as his net worth would be over $300 million if he didn’t share his fortune with brother Ronald “Slim” Williams. The brothers cofounded Cash Money Records two decades ago, and it continues to flourish because of artists like Drake, Nicki Minaj, and Lil Wayne. Birdman continues to break bank with Cash Money Content, GT Vodka, and the YMCMB clothing line.
Queens’ own 50 Cent closes out the list, still making millions off his Formula 50 Vitaminwater deal. 50 made $100 million from the sale of Vitaminwater in 2007 and plans on continuing to get money by quenching his thirst with SK Energy beverages. He’s also getting back to his first love, music, with his new album, Animal Ambition, coming out in June. You can also catch the entrepreneur performing at this year’s Hot 97 Summer Jam concert.