Diddy Replaces Kanye West On Forbes’ List of Top Five Richest in Hip-Hop, Jay-Z Keeps No. 1 Spot

Kanye West, Diddy, Jay-Z. (Photo Credit: Jay-Z Daily via Twitter)

Diddy Replaces Kanye West On Forbes’ List of Top Five Richest in Hip-Hop, Jay-Z Keeps No. 1 Spot

Kanye West’s pockets continue to take hits due to his recently made controversial statements.

Jay-Z (real name Sean Carter) maintains his position as the richest musician in Hip-Hop — but Kanye West has been knocked out of the No. 2 spot.

While Jay-Z, who is reportedly worth $1.5 billion, has held his position since becoming the first billionaire in the genre in 2019, Kanye West lost his place to Diddy. The updated list is a result of the DONDA artist losing several business and endorsement deals following his antisemitic rants and other controversial behavior on Drink Champs and social media.

JAY-Z with Diddy, Pharrell Williams and Kanye West at Diddy's 50th birthday party tonight pic.twitter.com/8xTArKud5h

— JAY-Z Daily (@JAY_Z_Daily) December 15, 2019

The biggest loss to Kanye West’s net worth came after the termination of what was supposed to be an alleged 10-year contract with Adidas, which knocked him out of billionaire status. His reported net worth went from $2 billion to around $500 million.

The sportswear brand said,

“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.”

And Adidas wasn’t the only company to sever ties with the 45-year-old entertainer. As previously reported, Gap also broke off its relationship with the Chicago native. Ye’s collaboration with Balenciaga for his Yeezy Gap line ended as well. The moves come after Ye made “disrespectful” and controversial remarks against Black people, George Floyd‘s murder, and the Jewish community.

Diddy‘s (real name Sean Combs) $1 billion fortune is the result of years of investments, including his relationship with Diageo on Ciroc, which generates $60 million a year in revenue. He also reaps rewards from his ownership stakes in Revolt, a media established in 2013, and DeLeon tequila.

Gilbert “Berner” Milam, a rapper whose Bay Area cannabis conglomerate Cookies has contributed significantly to his $410 million net worth, comes in at number four on the list. The business offers 2,000 marijuana-related items and 70 different marijuana strains. He’s expected to see billionaire status in the future.

Dr. Dre (real name Andre Romelle Young), with a net worth of $400 million, comes in not far behind Gilbert “Berner” Milam at number five. Despite formerly having a net worth of $800 million, his fortunes have dwindled as a result of several hefty purchases, including the $40 million property he purchased from now-divorced couple Tom Brady and Giselle Bundchen in Los Angeles. The legendary producer is slated to give his ex-wife Nicole Young another $50 million before the end of the year as part of a $100 million settlement, half of which has already been paid.

Forbes’ list of the richest Hip-Hop artists uses estimations from evaluating public records, known assets, and liabilities in their respective portfolios and discussions with a variety of sources, which sometimes includes the artist themselves.

What are your thoughts on Diddy replacing Ye in Forbes’ top five? Let us know in the comments!

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