Forbes
dropped their annual "Hip-Hop's Wealthiest Artists" for 2012 on Tuesday
(April 17), breaking down the "Forbes Five" of the genre's richest
moguls. After topping the list last March, it's Diddy who returns to #1, beating out Jay-Z by nearly $100 million in estimated net-worth with $550 million.
The Bad Boy Records founder, responsible for launching the careers of
countless musicians including the Notorious B.I.G., holds an extensive
business resume. His portfolio boasts stakes in Diageo-backed Ciroc
vodka, where he receives double-digit millions annually as a share of
profits; and stakes in clothing lines Sean John and Enyce, marketing
firm Blue Flame, record label Bad Boy and a handful of tech startups.
Diddy is also set to launch a cable channel called Revolt in 2013
that could help him reach the billionaire territory. Forbes.com says
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.
The hip-hop mogul had not commented on the list as of press time.
Jay-Z lands at #2 with 460 million, thanks to the sale of Rocawear in
2007 for $204 million; a 10-year deal with Live Nation for $150
million; and his stakes in the New Jersey Nets, his 40/40 Club chain,
and other businesses.
In at #3 is Dr. Dre, who has a net worth estimated at$270 million,
doubling from a year ago thanks to the sale of his Beats Electronics
headphones/audio business. 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. Dre's cut was
reportedly $85 million after taxes; and his remaining stake is valued at
$100 million.
Birdman follows with $125 million, while 50 Cent closes out the top 5 with an estimated net worth of $110 million.
1. Sean "Diddy" Combs ($550 million)
Diddy has remained a mainstream mainstay for 15 years thanks to his
knack for self-promotion. Lately, he’s been channeling that energy
toward Ciroc vodka, much to the benefit of his bank account: he receives
double-digit millions annually as a share of the spirit’s profits.
Better yet, he’s entitled to a nine-figure chunk of cash if Ciroc is
ever sold. He also boasts stakes in clothing lines Sean John and Enyce,
marketing firm Blue Flame, record label Bad Boy, a handful of tech
startups and cable channel Revolt, slated for a 2013 debut—all of which
means he’s well on his way to becoming hip-hop’s first billionaire.
2. Shawn "Jay-Z" Carter ($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.
3. Andre "Dr. Dre" Young ($260 million)
Fittingly, the bulk of this super-producer’s wealth comes from
headphones. In August, handset maker HTC paid $300m to buy a 51% stake
Beats Electronics, the company founded by Dr. Dre and Interscope chief
Jimmy Iovine in 2008. Sources say each owned a third of the company
before the deal, placing Dre’s cut at $85 million after taxes. The
agreement also values his remaining stake at $100 million, which could
increase rapidly as the company continues to expand.
4. Bryan "Birdman" Williams ($125 million)
The Cash Money Records cofounder would be higher on this list if he held
sole ownership of his label, but he shares it with brother Ronald
“Slim” Williams. The duo founded Cash Money two decades ago, inking very
favorable $30 million distribution deal with Universal in 1998. The
label’s value has soared with the success of rappers Drake, Nicki Minaj
and Lil Wayne (who shares in the ownership of sub-label Young Money).
There’s even more cash on the horizon—the label’s deal with Universal is
up this summer, raising the prospect of a bidding war for the right to
distribute Cash Money’s releases.
5. Curtis "50 Cent" Jackson ($110 million)
The Queens-born rapper earned $100 million for his Vitaminwater stake in
2007, and then spent freely on cars and renovations to his Connecticut
mansion, formerly owned by Mike Tyson. But a nice cushion remains from
his back catalog, acting gigs and 50 Cent-themed videogames, books and
clothes, as well as new headphone line SMS. Next up: an energy shot
called Street King, which promises to feed hungry children—and 50’s bank
account.
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