By Scott T. Sterling
Sean Combs, the artist/mogul who recently switched his musical moniker from Diddy back to ’90s tag Puff Daddy and spent last weekend making multiple cameos at Coachella, is the king of hip-hop mountain, according to a new Forbes report.
Combs comes in at No. 1 on “The Forbes Five: Hip-Hop’s Wealthiest Artists 2014” list, boasting an estimated net worth of a staggering $700 million, a cool $120 million more than in 2013. That extra stack of scratch is the result of Combs’ burgeoning Revolt TV music channel, and lucrative deals with Comcast and Time Warner Cable to air the network.
“Right now my focus is Revolt and making it the No. 1, most-trusted, most credible worldwide brand for music,” Combs told Forbes. “And to get Revolt to be the quintessential definition of real time. I think that’s the future.”
Following Combs on the list is Dr. Dre at No. 2, still pulling in a pretty penny with an estimated net worth of $550 million, thanks to his wildly popular line of Beats By Dre headphones. According to Forbes, Beats By Dre make up a full two-thirds of the entire headphones market.
Coming in at No. 3 is Jay Z with $520 million, increasing his wealth with the addition of Roc Nation Sports to his portfolio. His new sports agency made a huge splash right out of the gate by signing Major League Baseball star Robinson Cano and helping his land a bank-breaking contract with the Seattle Mariners worth $240 million. The man they call Hova should see even more money after a proposed co-headlining stadium tour with his wife, Beyoncé.
Pulling up in the No. 5 position is 50 Cent with $100 million, a bulk of which is made up from money earned when he sold the Vitaminwater company way back in 2007.