Forbes annual list of Hip Hop's Wealthiest Artists has just been released. The top five names are very accustomed to being in Forbes. They all are CEO's of various companies. Some have endorsement deals and other revenue streams that have helped them achieve their lofty status.
Methodology
In order to complete our Forbes Five list, we followed the same procedures we use to calculate our list of the world’s billionaires: looking at past earnings, valuing current holdings, leafing through financial documents and talking to analysts, attorneys, managers, other industry players and even some of the moguls themselves to find the nitty-gritty details.
Lets take a look at the top 5 and how they have achieved their success.
5. 50 Cent - $125 million
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.
Now he’s trying to replicate that feat with companies like SMS Audio, his answer to Dr. Dre’s Beats, and SK Energy, which has its sights set on category leader 5-Hour Energy. When informed that his net worth would be estimated at a little over $100 million this year, 50 Cent said simply, “That’s cool.” After being asked to elaborate, though, he changed his tune slightly.
“Oh, you want me to tell you an exact number?” he said with a grin. “I’ve got way more.”
If his new ventures continue to grow, 50 Cent’s number on this list should begin to reflect that belief as soon as next year.
4. Birdman - $150 million
The New Orleans native cofounded Cash Money Records two decades ago with his brother Ronald “Slim” Williams (Birdman’s net worth would be well over $200 million if his ownership in the label wasn’t shared).
Cash Money continues to flourish, with a roster that includes Drake, Nicki Minaj and Lil Wayne. Birdman is still looking for ways to diversify, launching the YMCMB clothing line and GT Vodka.
3. Dr. Dre $350 million
The legendary superproducer owes his fortune mostly to the success of his Beats by Dr. Dre headphones, which he cofounded with record executive Jimmy Iovine in 2008.
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—and their investment continues to soar in value with a whopping 65% market share of the premium headphone market.
2. Jay-Z - $475 million
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, Jay-Z’s net worth has continued to grow in tandem with his Roc Nation label and management outfit (according to one insider, the rapper owns the company outright and merely shares profits with Live Nation).
He also boasts smaller stakes in Carol’s Daughter, the Brooklyn Nets—and, more significantly, the Barclays Center itself—as well as new partnerships with the likes of Duracell and Bacardi’s D’ussé Cognac.
1. Diddy - $580 million
The artist formerly known as Puff Daddy ranks No. 1 on this year’s Forbes Five 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 Ciroc agreement entitles Diddy to eight-figure annual payouts and a nine-figure windfall of the brand is ever sold—and Ciroc’s value has never been higher.
Source: Forbes
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