After ranking No. 1 with a $580 million net worth in 2013, Diddy once against appears in the top spot for the 2014 list for The Forbes Five: Hip-Hop’s Wealthiest Artists.
The hip-hop mogul leads the pack over the likes of Birdman, Jay Z, Dr. Dre and 50 Cent, racking up an estimated net worth of $700 million, reports Forbes.com. He sees an increase of $120 million over last year’s numbers, largely from the addition of his multi-platform channel, Revolt TV, to his portfolio.
“Right now my focus is Revolt and making it the number one, most-trusted, most credible worldwide brand for music,” he told Forbes. “And to get Revolt to be the quintessential definition of real time. I think that’s the future.”
In second is Dr. Dre with an estimated net worth of $550 million, Jay Z is third with an estimated $520 million, Birdman is fourth with $300 million, and 50 Cent comes in at No. 5 with a $100 million fortune.
Dre’s worth increased thanks to his large stake in Beats By Dr. Dre, which controls an astounding two-thirds of the premium headphone market, with annual sales reportedly in excess of $1 billion and growing. The company’s value is nearing $2 billion.
Jay’s fortune continues to grow, most recently from the growth of Roc Nation, which has now entered into sports management.
Birdman’s fortune is largely from the success of his Cash Money Records label, which includes superstars like Drake, Nicki Minaj and Lil Wayne. He also has Cash Money Content, GT Vodka and the YMCMB clothing line.
50 Cent owes some of his $100 million haul from the sale of Vitaminwater in 2007. However, his worth is growing through his companies, SMS Audio and SK Energy beverages.