Forbes unveiled its annual ranking of Hip-Hop’s Wealthiest Acts on Thursday, and Jay-Z tops the list with an estimated net worth of $900 million. His mind-boggling earnings knock Sean “Diddy” Combs from the No. 1 spot, a title he previously held for seven consecutive years.
Diddy trails behind with an equally impressive $825 million and Dr. Dre comes in third with $770 million, though there’s a steep drop off when it comes to the fourth and fifth richest rappers in the music industry. Drakeand Eminem profited $100 million each within the past year.
So what business ventures helped Jay-Z’s financial wealth increase by $90 million from 2017?
According to Forbes, the 4:44 artist’s stakes in Armand de Brignac champagne and D’Ussé cognac have steadily risen in value, in addition to him owning Tidal and Roc Nation. Likewise, Diddy continues to bring in the big bucks thanks to ventures with various spirit companies, and Dre is still reaping the benefits of Apple’s $3 billion buyout of his Beats company from 2014.
The outlet predicts the race to reach $1 billion is especially tight between Jay-Z and Diddy, a milestone that depends on the longevity of their various investments in beverage brands.
For now, Jay-Z finds himself in great company. None other than wife Beyoncé was named 2017’s highest-paid woman in music with a $105 million salary. After all, there’s a reason why they call Bey and Jay a power couple.
No. 2: Diddy, 48, is still doing just fine with a net worth of $825 million. He, too, has major investments in liquor. His DeLéon Tequila label, a partnership with beverage behemoth Diageo was a bright spot over the last year. He also has a stake in Ciroc vodka.
No. 3: Dr. Dre, the oldest man on the list at 53, is the bronze medalist with an estimated net worth of $770 million, thanks in large part to Apple’s purchase of his Beats headphone line. But the magazine says that the N.W.A. alumnus could very well be the top earner next year once he gets his next round of Apple stock, depending on the share price at the time.
No. 4: It’s a tie between Drake and Eminem, with each said to be worth $100 million. It’s the first appearance on the list for the 45-year-old Eminem, who is back on the road after delivering Revival, his first new album in four years. Drake, who at 31 is the youngest man on the list, also relied on ticket sales. And not to be left out, he also has an equity interest in a liquor company, Virginia Black whiskey.
01. Jay-Z – $900 Million
02. Diddy – $825 Million
03. Dr. Dre – $770 Million
04. Drake – $100 Million
04. Eminem $100 Million