Jay-Z Dethrones Diddy to Become World’s Richest Hip Hop Mogul
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Year to year, the Forbes Five, which ranks hip-hop’s wealthiest artists, doesn’t really change. But on Thursday, when the magazine released its 2018 list, there was a noticeable difference: Jay Z beat Diddy. Diddy’s been number one on the list since Forbes began measuring rappers’ net worth in 2011.
For ’18, Jay Z’s net worth leapt from $810 million to $900 million, in large part due to the growing values of his investment in Armand de Brignac champagne and D’Ussé cognac. Last year’s Forbes list for America’s Wealthiest Self-Made Women put Beyoncé at $350 mill, making headlines for pushing the Carters into the billionaire club with $1.16 B’s. (The website Celebrity Net Worth says Queen B’s worth $500 million.)
Diddy comes in at No. 2 with $825 million. His fortune has received a slight bump due to lukewarm trends in the vodka and cable TV markets, which impact his stakes in Ciroc and Revolt. But he’s seen considerable growth with DeLeon tequila—a collaboration between himself and beverage king Diageo—which has increased his net worth.
Jay Z’s tenure at the top spot may be short lived. Hip-hop’s third-wealthiest figure, Dr. Dre, is expected to add a nine-figure windfall of Apple <APPL.O> stock to his estimated $770 million wealth this summer, Forbes said. Apple acquired Dr. Dre’s headphone and audio speaker company Beats in 2014.
There’s always a considerable drop between the third spot on the list and the fourth and fifth. Drake and Eminem are tired for $100 million each, at No. 4 and 5, respectively. This is the first time Drake has broken through to $100 million, and this is also Eminem’s first time on the list, as he has surpassed Cash Money head Birdman.
Forbes compiled the list by valuing major assets, examining financial documents and consulting analysts, attorneys, managers and other industry players.