Diddy Tops Forbes’ Hip-Hop’s Wealthiest Artists List
Diddy ranks No. 1 on this year’s Forbes Five list of hip-hop’s wealthiest artists, with an estimated net worth of $580 million. The bulk of his wealth comes from non-musical ventures, such as his deal with Diageo’s Ciroc. Check out the rest of the list after the jump.
“It is one of the fastest-growing brands within vodka,” says Jack Russo, an equity analyst at Edward Jones & Co. “Consumers are feeling a little bit better about their situation, and with that, they’re willing to spend more on premium products.”
Jay-Z comes in at #2 with a net worth of $475 million. He’s still rolling in cash from megadeals like his $204 million Rocawear sale in 2007 and his $150 million pact with Live Nation the following year. He continues to hold stakes in Roc Nation, Carol’s Daughter, the Brooklyn Nets—and, more significantly, the Barclays Center itself—while adding new partnerships with the likes of Duracell, Budweiser and Bacardi’s D’ussé Cognac. (For more on his rise as a businessman, check out “Empire State of Mind: How Jay-Z Went From Street Corner To Corner Office”).
Dr. Dre is #3 with $350 million, thanks mostly to his Beats by Dr. Dre headphones. A year after selling 51% of the company to handset maker HTC for $300 million in August 2011, Dre and his partners bought back half of the half they sold in 2012—and their investment continues to soar in value due to Beats’ whopping 65% market share of the premium ($99 and up) headphone market.
Birdman owns the No. 4 spot, riding his Cash Money/Young Money empire to a fortune of $150 million. His roster includes Drake, Nicki Minaj and Lil Wayne (the latter crossed the $100 million threshold for the first time this year, by our estimates, but remains just outside the top five). Birdman also recently launched a YMCMB clothing line and a spirit called GT Vodka.
50 Cent closes the list at #5 with an estimated $125 million. He’s another master of brand building: The bulk of his fortune came from heavy sales of his music, merchandise, video games and books in the wake of his smash debut Get Rich or Die Tryin’—and particularly from his payout for the sale of his stake in VitaminWater parent Glacéau to Coca-Cola in 2007.
Now he’s trying to replicate that feat with companies like SMS Audio, his answer to Dr. Dre’s Beats, and SK Energy, which has its sights set on category leader 5-Hour Energy. When informed that his net worth would be estimated at a little over $100 million this year, 50 Cent said simply, “That’s cool.” After being asked to elaborate, though, he changed his tune slightly.
“Oh, you want me to tell you an exact number?” he said with a grin. “I’ve got way more.”