In football, the winner of the Superbowl is presented with the ‘Vince Lombardi’ trophy. In golf, the winner of the ‘Masters’ golf tournament is presented with a tailored green jacket signifying their win. In publishing, the winner of the ‘Panache Report’ Richest Person in Hip-Hop contest is presented with a plague (starting this year) handcrafted in Dubai with a cherry wood finish on blue marble and idyllic solid gold print proclaiming the winner of the ‘Richest Person In Hip-Hop’ for 2006.
After six months of extensive research, we have one new addition to our list this year-Jermaine Dupri recovered from the tax debt he suffered a few years ago and had a very successful year producing (The Emancipation of Mimi and co-producing Janet’s upcoming album).
Notable gains were made as overall wealth increased among our hip-hop stars, mainly by ‘The Neptunes,’ and ‘Ice Cube,’ thanks to the success of his television show and film franchises.
Master P. seems to be recovering from the bankruptcy he filed a few years ago but not enough to be included on this year’s list. His latest business ventures are not lucrative enough at this stage and Will Smith is not included on this list because he is more of an 'actor' instead of a rapper.
Once again, rap moguls Jay-Z (last year’s winner) and P. Diddy were in a dead heat. Thanks to the sell of ‘Bad Boy’ records to Warner Music Group and revenue from the ‘Sean Jean’ clothing line, Diddy grossed $25 million for 2005/2006 thus far.
Jay-Z grossed $20 million thus far for 2005/2006. Revenue was generated from his stake in the New Jersey Nets, Armadale vodka, his 40/40 night-club chain and the $3 million he makes in salary for his presidential duties at ‘Def Jam,’ Records.
The tiebreaker and deciding factor was Diddy’s “Unforgivable” men’s cologne, which is the top selling fragrance since its release in February. ‘Unforgivable,’ is averaging sales between $1.3 million and $1.5 million per week which is unheard of; successful fragrances typically sell $650,000 per week.
Diddy has received an additional $6 million this year, generated from the sales of his cologne, bringing his overall wealth total to: $346 million. Jay-Z’s overall wealth total for 2006; is: $340 million.
View the entire list below.
1. P. Diddy, $346 Million
2. Jay-Z, $340 Million
3. Russell Simmons, $325 Million
4. Damon Dash, $200 Million
5. Neptunes, $155 Million
6 Dr. Dre, $150 Million
7. Ice Cube, $145 Million
8. Eminem, $110 Million
9. 50 Cent, $100 Million
10. Nelly, $60 Million
10. (Tie) Jermaine Dupri, $60 Million
NOTABLE MENTION (FUTURE MOGULS)
- Kanye West, with the success of his record label (John Legend) and an upcoming clothing line and films, expect West to grace this list in the near future. He currently signed to go on tour with the Rolling Stones and he made $16.9 million off his “Touch The Sky Tour,” last year.
2. Rapper T. I. has investments in clubs, detail shops and a production company.
THE RICHEST MAN IN THE ENTIRE MUSIC INDUSTRY:
Sir Paul McCartney, is worth $3 ‘Billion’ dollars.
THE $150 MILLION DOLLAR CLUB (POP & R&B)
- Mariah Carey
- Elton John
- Mick Jagger
- R. Kelly
- Keith Richards
- Janet Jackson
- Phil Collins
THE $100 MILLION DOLLAR CLUB:
- George Michael
- George Harrison Estate
- David Bowie (Bowie signed a deal several yrs ago that could make him a billionaire in the future).
- Englebert Humperdink
THE $65 MILLION DOLLAR CLUB:
- Halle Berry
- Jessica Simpson
- Christina Aguilera
- Paris Hilton
- Denzel Washington
- Justin Timberlake
- Britney Spears
- Johnny Depp
- Alicia Keys