Jay-Z displaces Diddy atop 'Forbes' list of richest hip-hop stars
"I'm not a businessman, I'm a business, man," Jay-Z rapped back in 2014.
Four years later, that statement is truer than ever as the rapper, 48, knocked Diddy off the top of Forbes' list of the wealthiest hip-hop artists. (In fact, it's the first time in the list's seven-year existence that Diddy hasn't been No. 1.)
What's behind the bump in Jay-Z's net worth, which increased from $810 million to $900 million over the last year? Booze.
Remember when he launched a boycott of Cristal champagne in 2006 after a racist remark from a company manager bemoaning its popularity with rappers? Well, Jay not only stopped drinking and name-dropping Cristal, he bought a stake in Armand de Brignac, a then-fledgling bubbly business. According to Forbes, that investment, combined with one in D'Ussé cognac made the difference this year, in tandem with his stakes in Roc Nation and his Tidal streaming service.
No. 2: Diddy, 48, is still doing just fine with a net worth of $825 million. He, too, has major investments in liquor. His DeLéon Tequila label, a partnership with beverage behemoth Diageo was a bright spot over the last year. He also has a stake in Ciroc vodka.
No. 3: Dr. Dre, the oldest man on the list at 53, is the bronze medalist with an estimated net worth of $770 million, thanks in large part to Apple's purchase of his Beats headphone line. But the magazine says that the N.W.A. alumnus could very well be the top earner next year once he gets his next round of Apple stock, depending on the share price at the time.
No. 4: It's a tie between Drake and Eminem, with each said to be worth $100 million. It's the first appearance on the list for the 45-year-old Eminem, who is back on the road after delivering Revival, his first new album in four years. Drake, who at 31 is the youngest man on the list, also relied on ticket sales. And not to be left out, he also has an equity interest in a liquor company, Virginia Black whiskey.