the richest Hip Hop artists in the world currently.
Didddy as it is now worth $700million.
Full report below:
Back in 2007, Sean "Diddy" Combs teamed with Jay Z and 50 Cent to create a song titled "I Get Money: Forbes 1-2-3 Billion Dollar Remix."
Less than a decade later, rappers are closing in on ten-figure
fortunes, and he's the nearest of the bunch.
Diddy leads the pack with an estimated worth of $700 million, an
increase of $120 million over his net worth last year. The change
comes largely from the addition of Revolt TV, the new music-focused multi-platform channel of which he's the majority owner, To
his already-hefty portfolio.
Diddy has plenty of competition in the race to $1 billion. His top
challengers are Dr. Dre, who is the second man coming right behind him with $550 million, and Jay
Z in third place with an estimated $520 million. The former
leapfrogged the latter on this year's Forbes.
Five thanks to a large stake in Beats By Dr. Dre, which he co-founded with Interscope chief Jimmy Iovine in 2008.
The company controls an astounding two-thirds of the premium
headphone market, with annual sales reportedly in excess of $1 billion
and growing. 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.
"Beats has a unique brand—it speaks to a nice young demographic,
which is really interesting to marketers," says Peter Csathy, former
president of Musicmatch, an early digital music purveyor acquired
by Yahoo YHOO +0.11% in 2004 for $160 million. "When I think about
Beats, I think about it as a lifestyle, I think of it as a media company,
not just a hardware and music-focused company."
Jay Z's fortune continues to grow at a healthy clip, too. He's made
multiple nine-figure deals in the past, including his $204 million
Rocawear sale in 2007 and his $150 million pact with Live Nation in
2008. But much of his recent growth comes from Roc Nation, his
record label and management firm that recently added a sports
agency. The outfit gets a single-digit cut of pacts like Robinson
Cano's $240 million monster agreement.
Bryan "Birdman" Williams, whose net worth would be over $300
million if he didn't share his fortune with brother Ronald "Slim"
Williams. The duo cofounded Cash Money Records two decades ago;
Cash Money continues to grow with a roster that includes Drake,
Nicki Minaj and Lil Wayne. Birdman has also diversified with Cash
Money Content, GT Vodka and the YMCMB clothing line.
Rounding out the list is 50 Cent, who owes most of his fortune to his
$100 million haul from the sale of Vitamin water in 2007. Now he's
trying to repeat the feat with companies like SMS Audio and
SK Energy beverages. In the meantime, he'll reboot his music career
by taking his G-Unit Records independent and releasing new album titled "Animal Ambition" in June.
Culled from Forbes.
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