18 Apr 2012
Posted by Media MRS.
Forbes is digging deeper in our favorite Hip Hop artists pockets and have created a new list of Hip Hop’s wealthiest moguls.
First Forbes came out with the Hip Hop Cash Kings’ list. Now, they have created ‘The Forbes Five’ which comes out every March/April and measures net worth instead of annual earnings. It’s also more focused in scope, zooming in on hip-hop’s five wealthiest moguls.
Find out who made the cut:
Of course Diddy tops the list!
Diddy also boasts stakes in clothing lines Sean John and Enyce, marketing firm Blue Flame, record label Bad Boy and a handful of tech startups. But it’s his deal with Comcast to launch cable channel Revolt in 2013 that could push him into billionaire territory. He’ll own the channel outright, and based on projected viewership totals, its value could soar into the low-to-mid nine figures within the next few years.
Jay-Z comes in 2nd place.
Next up is Jay-Z at $460 million. Unlike his fellow Forbes Five members, Jay-Z still churns out music and goes on tour—most recently with pal Kanye West—adding to his considerable war chest. He sold his Rocawear clothing label for $204 million in 2007 and signed 10-year $150 million deal with Live Nation in 2008, and also holds stakes in the New Jersey Nets, his 40/40 Club chain, ad firm Translation, cosmetics company Carol’s Daughter and other businesses.
Dr. Dre and his Dre Beats come in at #3.
Dr. Dre ranks third with $270 million, doubling from a year ago thanks to a major sale. In August, handset maker HTC paid $300 million to buy a 51% stake in Beats Electronics, the company founded by Dr. Dre and Interscope chief Jimmy Iovine in 2008.
Lil Wayne’s daddy, Birdman comes in at #4.
Birdman clocks in at No. 4 with a fortune of $125 million. He cofounded Cash Money Records with brother Ronald “Slim” Williams two decades ago, inking very favorable $30 million distribution deal with Universal in 1998. The label’s value is increasing with the success of rappers Drake, Nicki Minaj and Lil Wayne (who shares ownership of sub-label Young Money).
And 50 Cent rounds the list out at #5.
Curtis “50 Cent” Jackson at $110 million. The Queens-born rapper earned $100 million on the sale of his Vitaminwater stake in 2007—and tens of millions more from touring, record sales and clothing—but spent freely on cars and renovations to his mansion, formerly owned by Mike Tyson. Even so, a nice cushion remains from his back catalog, acting gigs and 50 Cent-themed videogames, shoes and books, as well as his new headphone line SMS. Next up: an energy shot called Street King, which promises to feed hungry children—and 50’s bank account.
via Forbes
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The Forbes Five: Guess Who Were Hip-Hop’s Wealthiest Artists in 2012: Forbes is digging deeper in our favorite H… http://t.co/HWAXNm55