The top five (including four Black artists) richest hip-hop stars amassed a combined wealth of $3.8 billion, according to a report by former Forbes editor Zack O’Malley.
The report also noted that Diddy has overtaken Kanye West on the list of 2022’s wealthiest Hip Hop artists. West, who recently changed his name to Ye, saw his net worth drop to $400 million after a series of antisemitic tweets saw major brands cut ties with him, including German sneaker brand Adidas.
His deal with Adidas reportedly accounted for $1.4 billion of his nearly $2 billion net worth. “Adidas does not tolerate antisemitism and any other sort of hate speech. Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness,” Adidas said in a statement.
Also, with $1.5 billion, Jay-Z takes the top spot as the wealthiest Hip Hop artist. Below are the top four Black richest hip-hop artists:
Shawn “Jay-Z” Carter ($1.5 billion)
Jay-Z is the wealthiest hip-hop artist with a fortune of $1.5 billion. The bulk of his wealth comes from his Armand de Brignac champagne and Roc Nation Entertainment Company. He also has stakes in startups like Rihanna’s Savage x Fenty lingerie line among others.
Sean “Diddy” Combs ($1 billion)
Diddy replaced West on the list with $1 billion, thanks to his Cîroc partnership with Diageo. He also has stakes in DeLeón tequila and Revolt, along with his music catalog, startup investments and other assets. Diddy becomes hip-hop’s third billionaire.
Kanye “Ye” West ($500 million)
West lost nearly $1.5 billion of his net worth after making a series of antisemitic tweets, although he has since apologized. He currently has a 5% stake in ex-wife Kim Kardashian’s $3.2 billion shapewear line. There is also his lucrative music catalog and Yeezy, his battered but still valuable footwear line.
Andre “Dr. Dre” Young ($400 million)
The legendary Dr. Dre comes in fourth with $400 million thanks to his Beats partnership, music catalog and ongoing projects. According to O’Malley, documents from Dre’s recent divorce revealed his net worth had dwindled to just over $450 million before the first half of a $100 million settlement was paid to his ex (the second half is said to be due by the end of 2022).
Source: Face2faceafrica