P Diddy named wealthiest hip-hop artist of 2013

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Sean “Diddy” Combs has gone by many names but for now he can call himself the wealthiest man in hip-hop.

The Bad Boy Records founder ranked No. 1 on the 2013 Forbes Five, the mag’s list of hip-hop’s wealthiest artists. Diddy’s net worth is estimated at $580 million.

Since his emergence on the music scene in the late 1990s, Diddy has become an industry mogul. But the majority of his wealth comes from non-musical ventures, like his Ciroc Vodka campaign.

Coming in second place is Shawn “Jay-Z” Carter, with a net worth of $475 million. The Brooklyn native is still benefiting from the 2007 sale of his Rocawear line, which netted him $204 million, as well as from a $150 million contract with Live Nation the following year.

At third on the Forbes list is Andre “Dr. Dre” Young with $350 million. Dr. Dre owes much of his wealth to his Beats by Dr. Dre headphones.

The No. 4 spot goes to Bryan “Birdman” Williams, Lil Wayne’s industry mentor. Birdman is the founder of Cash Money Records, whose subsidiary label, Young Money Entertainment, was founded by Lil Wayne. Birdman owes much of his net worth to the financial success of both labels.

Curtis “50 Cent” Jackson rounds out the list at $125 million. The majority of 50 Cent’s fortune comes from his branding, which includes music, merchandise, video games and books. He also received a generous payout for the sale of his stake in Vitamin Water.

New Orleans native Lil Wayne just missed the cut, reaching an estimated net worth of $100 million for the first time this year.

The Herald NG is a leading newspaper in Nigeria at the forefront of the digital revolution.

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