29-year-old rapper Drake is the newest member of the Forbes Five club of hip-hop’s richest with an estimated net worth of $60 million. The Toronto native who once revealed he planned to make $250 million by the time he was 29, takes fellow rapper 50 Cent’s spot on the list following mismanagement of funds and his filing of bankruptcy after a series of multi-million lawsuits last year.
Drake joins Diddy, Dr. Dre, Birdman and JayZ on the list of hip-hop’s richest with earnings from touring, music and deals with Nike, Sprite and Apple.
Diddy continues to top the list with a net worth of $750 million, thanks to his dealings with Diageo’s Ciroc vodka, plus his TV network Revolt, clothing line Sean John, record label Bad Boy, tequila Deleon and water brand Aquahydrate.
He is closely followed by Dr. Dre with $710 million thanks to his by his sale of Beats to Apple two years ago, last year’s Straight Outta Compton film as well as his Southern California real estate.
In third place is JayZ with $610 million which was boosted by his streaming service Tidal, as well as earnings from his Roc Nation Empire.
Coming fourth is Cash Money’s Birdman, with a $110 million net worth, a decline from that of last year no thanks to Lil Wayne’s failure to release music like he used to. According to the magazine, rumors of his departure, along with fellow top acts Drake and Nicki Minaj, continue to swirl.
To complete the Forbes Five list, the magazine considers past earnings, value current holdings, leaf through financial documents and talk to analysts, attorneys, managers, other industry players and even some of the moguls themselves to discover the details.
According to Forbes, all five artists combined are worth around $2.2 billion.
Leave your views in comments box below.