Diddy no longer wears the crown for Forbes’ wealthiest hip-hop act; Jay-Z is the newest king in town. Jay-Z has topped the list for the first time after he raked in $900 million in the past year, a major rise from the $810 million he made in 2017 which earned him the no. 2 spot.
According to Billboard, This year, his net worth increased to $900 million due to his many business endeavours, including his label Roc Nation, streaming service Tidal, spirits brands Armand de Brignac and D’Ussé, among others.
Diddy follows behind this year with $825 million, a $5 million increase from his last year’s $820 million. The rap mogul made this money from his growing DeLeon Tequila brand, his partnership with beverage company Diago, Revolt TV, and, of course, his successful Ciroc vodka line.
This heartwarming update comes months after the two rap mogul released their documentary called Black Excellence A Short Film: What’s Better Than One Billionaire? Two. which celebrates black success and excellence.
Other rap bosses who made this year’s list include Dr Dre at no. 3, for making $770 million in the last year, Drake and Eminem.
Jay-Z, Diddy and Dre are not only the wealthiest hip-hop acts on the planet but the richest American musicians of any genre.
Longtime Forbes Five champ Diddy ranks No. 2 this year despite increasing his fortune slightly in the past 12 months; tepid trends in the vodka and cable TV sectors have affected his interests in Ciroc and Revolt, but heady growth at DeLeón tequila, his joint venture with beverage giant Diageo–and massive annual earnings totals in recent years–have kept his net worth trending in the right direction.
Dre ranks third with $770 million, creeping upward thanks to the market trends boosting his nine-figure windfall from Apple’s $3 billion buyouts of Beats in 2014.
The superproducer is also in line to receive a slug of Apple stock this summer worth well over $100 million; depending on the tech giant’s share price at the time, he could leapfrog Diddy and Jay-Z when that happens.
After the top three, there’s a long drop before the fourth and fifth names on the list: Drake and Eminem, tied at an even $100 million apiece.
The youngest impresario of the bunch, 31-year-old Drake has earned more than $250 million since 2010, before taxes and spending; an equity stake in Virginia Black whiskey and pricey estates in Toronto, Canada, and Hidden Hills, California, pad his holdings.
His inclusion on the Forbes Five represents yet another career goal achieved.
“If I’m not on your list this year, I’d be gravely disappointed,” he told Forbes back in 2013. “That’s pretty much my objective every year … other than making good music.”