Bad to worse for Ye: Diddy replaces Kanye to become second wealthiest hip-hop artist in the world
Diddy has reportedly replaced Kanye West on the list of the richest hip-hop musicians for 2022, according to a new report from former Forbes editor Zack O'Malley. Ye was earlier ranked second on the list of hip-hop's best earners, with $250 million in projected revenues for 2021, Since his contract with Adidas was abruptly terminated due to his antisemitic remarks, he has fallen to third in terms of net worth. Diddy has now replaced Kanye West to become the second wealthiest hip-hop artist in the world, after Jay Z.
According to a Forbes article published earlier this month, Ye's net worth has plummeted to $400 million as a result of the termination of the Adidas contract. He appeared to confirm these rumors when he returned to Instagram and claimed to have "lost 2 billion dollars in one day."
With a net worth of $1.8 Billion, Jay Z has had a number of successful career moves over the years that have helped him raise his net worth, from the Armand de Brignac champagne to the Roc Nation entertainment firm. Not to mention that he is regarded as one of the industry's masterminds and that his own music has sold well over the years. In addition, Jay Z has made investments in a number of enterprises that have raised his net worth.
With a $1 billion net worth, Diddy ranks second among billionaires in hip-hop. The majority of his wealth is reportedly attributed to his cooperation with Diageo on the Cîroc brand, but Revolt and DeLeón Tequila have undoubtedly contributed; he made $90 million last year.
Ye's estimated net worth is currently $500 million, and the loss of his Adidas contract has been the main factor in his downturn. Due to the "White Lives Matter" t-shirt incident this month, Ye and Diddy insulted each other on Instagram.
With a $410 million net worth, the rapper has managed to move up to fourth place on the list. His main source of wealth has been his cannabis business, Cookies, which offers 70 marijuana strains along with 2,000 marijuana-related goods all over the world. His chances of becoming a billionaire in the future has also grown since he also owns 30% of the business.
Dr Dre has a net worth of $400 million, even though it has reportedly decreased by roughly half since 2014, when his financial momentum peaked following the $3 billion sale of his Beats brand to Apple Music. It is said that Dr Dre has paid his ex-wife $100 million as part of their divorce settlement and spent a large amount on various expensive items.
Russell Simmons has a net worth of $340 Million. He is well recognized as the man who co-founded Def Jam and enjoyed years of success as a titan of the music industry before accusations of sexual misbehavior surfaced. Simmons may have refuted them in a subsequent, clear Instagram post, but he still chose to stand aside from his firms and hand them over to a new generation of creatives, dodging criticism and earning close to $350 million in the process.
Eminem has a net worth of $230 Million. Even in the streaming era, Eminem's recordings continue to draw enormous crowds because of his unrivaled impact in some hip-hop circles. Although last year's surprise hit 'Kamikaze' rocketed to the top of the Billboard Hot 100 and achieved platinum status, in today's world, musical success isn't enough to make someone over $200 million. He is expected to rise even higher on this list in the future because of some wise investments in businesses like StockX and the online music encyclopedia Genius.
Master P has a net worth of $200 Million. His musical career has grown into a dozen-strong collection of rap artists since he founded No Limit Records in the 1990s, with his son Romeo serving as the primary manager. But these days, he makes his income from investments in practically anything, including a portfolio of real estate, movies and TV series, fast food restaurants, and sex toys. He has amassed a sizable sum of money as a result of it—precisely a quarter of a billion dollars. He manages Gucci Mane despite having very little time for it.
Drake has a net worth of $180 Million. He signed an agreement with the Universal Music Group that is said to be worth $400 million. The Canadian entertainer made money from real estate investments, the introduction of Virginia Black whiskey, and landing a residency at XS Nightclub in Las Vegas, in addition to all those chart-topping albums and sold-out international headline tours. The clothing boutiques remain open year-round, and the October's Very Own brand is still in operation.