For years, Forbes list of hip-hop’s wealthiest artists has been composed of the same five figures—Birdman, Diddy, Dr. Dre, Jay Z and 50 Cent. But 50cent the latter spent his $100 million Vitaminwater windfall faster than we thought, and last summer’s bankruptcy filing knocked him off the list. Enter Drake—flush with cash from touring, music and deals with the likes of Nike, Sprite and Apple—at No. 5, with a net worth of $60 million. Drake is now among hip-hop’s five wealthiest members– replacing is-he-or-isn’t-he-broke rapper 50 Cent.
50 Cent’s spot slipped through his fingers when he had to field multi-million dollar lawsuits and filed for bankruptcy. He’s evidently not having the best week.
Take a look at the newly revamped Forbes Five list for 2016 below– you’ll notice the top 3 are identical to last year’s list, while Birdman moves up a spot to #4.
1. Diddy boasts a staggering fortune of $750 million, up slightly from last year. The bulk of his bucks come from his agreement with Diageo’s Ciroc vodka; adding to his total are stakes in his TV network Revolt, clothing line Sean John, record label Bad Boy, tequila Deleon and alkaline water Aquahydrate.
2. Dr. Dre at $710 million, also up a tick from 2015. Two years ago the superproducer’s Beats By Dr. Dre sale got him the largest one-off payday of any living musician in history, and last year’s biopic Straight Outta Compton padded his coffers, too. He now sits on a nine-figure cash stash—and a jaw-dropping portfolio of Southern California real estate—that even a billionaire would envy.
3. Jay Z ranks third in the race to $1 billion; his net worth now stands at $610 million. The Brooklyn-born rapper boasts a broad range of holdings, but it’s his Tidal streaming service that made him this year’s biggest gainer on paper. The company has had its bumps, but with 3 million paid subscribers, it’s now worth an estimated three times more than its $56 million purchase price.
4. Cash Money chief Birdman ranks fourth with $110 million, down a tick from last year due to turmoil within his empire. Flagship artist Lil Wayne has slowed his once-frenetic release pace; rumors of his departure, along with fellow top acts Drake and Nicki Minaj, continue to swirl. That said, Drake’s latest album, Views, dropped just days ago via a smorgasbord of labels including Cash Money/Young Money, and a source close to the company says all three have multiple records left on their deals.
5. Drake earns his spot thanks to a $60 million net worth. According to Forbes, this wealth was “accumulated through multi-platinum recordings, million-dollar-grossing tours and seven figure endorsements.”
