Diddy tops Forbes richest in hip-hop list, Jay-Z is second
8th April 2013 · 0 Comments
(Special to the NNPA from the St. Louis American) – Sean “Diddy” Combs ranks No. 1 on this year’s Forbes Five, the magazine’s list of hip-hop’s wealthiest artists, with an estimated net worth of $580 million.
The bulk of the Bad Boy Records founder’s wealth comes from non-musical ventures, namely his deal with Diageo’s Ciroc. The agreement entitles him to eight-figure annual payouts and a nine-figure windfall if the brand is ever sold—and Ciroc’s value has never been higher.
The No. 2 spot goes to Shawn “Jay-Z” Carter, 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.
Andre “Dr. Dre” Young ranks third 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 percent market share of the premium ($99 and up) headphone market.
Bryan “Birdman” Williams 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.
Rounding out the list is Curtis “50 Cent” Jackson at $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.
This article originally published in the April 8, 2013 print edition of The Louisiana Weekly newspaper.