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Bad Boy does good: P Diddy is hip-hop's richest star

BAD BOY DOES GOOD: P Diddy is hip-hop's richest star

P DIDDY is the highest-paid star in hip-hop music, beating moguls Jay Z and Dr Dre to the top spot.

The Bad Boy Records founder, 45, made an estimated $60 million between June 2014 and June 2015 according to Forbes' calculations, from investments outside of music, such as his TV network Revolt and Ciroc vodka.

In second place is rap mogul Jay Z (real name Shawn Carter), the 45-year-old founder of Roc Nation music group, who earned an estimated $56 million from business ventures in music, sports and lifestyle. His 22 shows with his wife, singer Beyonce, helped boost his earnings, Forbes said.

Canadian rapper, Drake, came in at No.3 with $39.5m, the bulk of which came from touring, as well as high profile endorsements from Sprite and Nike. His 50 shows pulled in an average of $1m per night, while his album If You’re Reading This It’s Too Late went platinum.

While Dr Dre, last year’s No.1 with earnings of $620m, the highest annual takings of any musician ever thanks to Apple’s record-breaking $3bn purchase of his Beats brand, is down to fourth with an annual income of $32m. However, it is thought that takings from his critically-acclaimed Compton album and the NWA biopic, Straight Outta Compton, will likely make a bigger contribution to next year’s list, with the film taking $157.5m at the US box office.

Nicki Minaj was the only woman to crack into the top ten of the highest paid hip hop acts, coming in at No. 9 with $21 million from touring and endorsements.

Forbes calculated its list using pre-tax income figures from factors such as record sales, touring, streaming and endorsements using data from Nielsen SoundScan, the Recording Industry Association of America (RIAA) and interviews with managers, lawyers and in some cases, the artists themselves.

Other hip hop moguls in the top ten, all of which hail from North America and Canada, include Beats co-founder Dr. Dre and rappers Eminem and Kanye West.

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