Diddy has been on this list for as long as i can remember using the internet, so it doesn't come as a surprise that he makes it again this year. What i just wish is that he would make it to a billion. Below is news on the top 5 wealthiest individuals in hip hop.
Diddy is the closest to becoming a billionaire, leading the
pack with a net worth of $550 million. The Bad Boy Records founder has
remained a mainstream mainstay for 15 years thanks to his knack for
self-promotion. 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. (Forbes)
Other
close contenders include Interscope Records'
Dr. Dre and
50 Cent.
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. 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. Rounding out the Forbes Five is 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. (Forbes)
After getting named the first hip-hop artist to likely hit a billion bucks last year, Diddy
downplayed the hype surrounding his buzz.
"To be honest, on that list, I was on the cover of Forbes
back in '98," Diddy explained in an interview. "I been on that list. I
don't really get caught up into the list. I think people think that I
have that money actually sitting at home in the basement...It's really
like if I sold all my companies, and I take pride in [building]
something as a black man that's worth that much...To everyone calling me
for a loan today, I do not have that money today! ... It helps inspire
people and it shows the power of hip-hop." (MTV)
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