Rappers boast in their lyrics all of the time: about the cars they have, mansions they own and wealth they have accumulated. Most rappers over exaggerate, but as you will find out in a minute some of them are actually very rich.
Another thing all of them have in common is that most of their wealth doesn’t come from music, but from other business avenues. Let’s dive into the list of the richest rappers in the world according to Forbes magazine.
5. 50 Cent – $125 million
A good chunk of his wealth comes from the album sales and touring, but even bigger amount is from the sale of Vitamin Water (in which he had a smaller stake) to Coca Cola back in 2007. It was rumored that he made around $100 million before taxes from this deal. At the moment he is trying to build two companies into a big moneymakers – SMS Audio, selling high end headphones, and a company called SK, that sells energy shots.
4. Birdman – $150 million
Next one on the list is one of the Cash Money’s founders – Bryan “Birdman” Williams. Most of his fortune comes from owning the said label, as it houses some of the most popular hip hop superstars – Lil Wayne, Drake and Nicki Minaj. He is now trying to expand even more by starting a YMCMB clothing company, book company and a new vodka brand – GT Vodka.
3. Dr. Dre – $350 million
Although he is responsible for the discovery of Eminem and producing hundreds of songs, most of his money comes from one thing – Beats by Dre headphones. He co-founded this company with the record executive Jimmy Iovine, and in 2012 they sold 50% of the shares to HTC, however few months later they decided to buy back half of what they sold. Currently Beats by Dre is number one seller in the premium headphones market, owning about 65% of the market share.
2. Jay-Z – $475 million
Jay-Z made most of his money from the $204 million Rocawear sale in 2007 and his $150 million Live Nation deal from 2008. He also owns a small stake in Brooklyn Nets and Barclays Center arena. He can still rake in huge numbers from touring, as the summer tour with Justin Timberlake will net both of them $3 million per night. Not to forget Roc Nation – Jay-Z’s label and artist management company.
1. Diddy – $580 million
We have reached the end of the list so it’s time to meet the richest rapper on the list – Diddy. He first came into the riches with his label Bad Boy in the ’90s. However, biggest portion of Diddy’s wealth comes from Ciroc, a vodka brand that he promotes. He is not just another endorser of the brand, but instead he has a special deal that entitles him to eight-figure annual payouts and it has been rumored that if the brand is ever sold, he will receive about 50% of the money generated from the sale.