Hey Music Mag - Issue 1 - August 2018

CASH KINGS
IN HIP HOP
FORBES RELEASES ITS ‘FORBES FIVE: HIP-HOP’S WEALTHIEST ARTISTS 2018’ LIST, AN THERE’S A NEW CASH KING.
WORDS: AASHA BODHANI
Jay-Z has finally dethroned Diddy as hip-hop’s number one cash king as he enters 2018 with a
$900 million fortune.
The Brooklyn-born mogul, who has remained in the top five since 2011, upped his riches by $90 million over the past year.
Though Jay-Z released his ‘4:44’ album in June last year, along with his substantial stakes in Roc Nation and TIDAL, it’s his
investments in ‘Armand de Brignac’ Champagne and ‘D’Ussé’ cognac that gave him the needed boost.
In March this year, Forbes released its ‘Forbes Five: Hip-Hop’s Wealthiest Artists 2018’ list, which saw heavyweights Sean
‘Diddy’ Combs and Dr. Dre in second and third place, respectively. Followed by Drake in fourth position and Eminem
cementing fifth place due to Birdman’s supposed liquidity problems.
Since Forbes began accounting the riches in the hip-hop world, Diddy has secured the top spot, but this year his estimated
worth was $825 million. Like Jay-Z, he also has investments in the booze business where he saw a steady growth in his
luxury ‘DeLeón Tequila’ brand, however Diddy’s interests in premium vodka brand ‘Cîroc’ took a slight hit.
Despite dropping to second place, Diddy took to Instagram to share a picture of himself alongside Jay-Z with a message
empowering black excellence globally.
West coast giant Dr. Dre is a non-mover in the Forbes list, but has a net worth of $770 million thanks to Apple’s $3 billion
purchase of ‘Beats by Dre’ in May 2014. Additionally, Dre’s fortune over the next year is expected to grow substantially
once his Apple stock is fully vested and depending on the tech titan’s share price the amount could be over $100 million.
If this is the case, Dre could surpass both Jay-Z and Diddy.
The last two places see a massive drop, down to $100 million to be precise as Drake and Eminem tie in fourth and fifth
position.
The Toronto-born rapper has acquired more than $250 million since 2010, and after taxes and spending, Drake hit the
$100 million net worth mark. The young rapper has an extensive real estate portfolio, with properties in Canada and
California, as well as an equity stake in Virgina Black whiskey.
Though Eminem isn’t perhaps regarded as a business mogul, he is the best-selling rapper of all time and from any genre,
during the 2000s. Furthermore, his 2017 ‘Revival’ album release incurred strong music sales.
The consumer shift in alcohol preference has certainly given Jay-Z an edge, and if the market continues to lean towards
cognac, whiskey and tequila, the newest cash king could become the first billionaire hip-hop star.
Forbes complies the ‘Forbes Five’ list by analysing assets and financial documents, plus speaking with analysts, attorneys,
managers, industry players and the moguls themselves.
30 HEY MAG - AUGUST 2018