Jay-Z is having the best week ever. With Watch the Throne set to debut at No. 1 on the charts, the rap titan also reigns atop Forbes’ annual Cash Kings list.

The magazine has declared the Roc Nation mogul as hip-hop’s top earner with $37 million made in the past 12 months. He tops the list for the fourth time in five years thanks to tour sales, his ongoing $150 million Live Nation deal, and stakes in the New Jersey Nets and 40/40 club.

Following in close second is hip-hop impresario Sean “Diddy” Combs, who banked $35 million in the past year with roughly half of his earnings coming from Ciroc vodka.

Jay’s partner in rhyme Kanye West claims third place, returning to the top three for the first time since 2009. Lil Wayne ties with his YMCMB comrade Birdman for fourth ($15 million), Eminem, Dr. Dre, and Snoop Dogg rack up $14 million each, and Wiz Khalifa, Pitbull, and B.o.B are among the new entries.

Nicki Minaj becomes the first female to make the list at No. 15 with $6.5 million. The Young Money diva burst onto the scene with her platinum debut Pink Friday, tours with Lil Wayne and Britney Spears, and endorsement deals with M•A•C Cosmetics and Casio.

Cash Kings 2011: Hip-Hop’s Top 20 Earners

1. Jay-Z – $37 million
2. Diddy – $35 million
3. Kanye West – $16 million
4. Lil Wayne (tie) – $15 million
4. Birdman (tie) – $15 million
6. Eminem (tie) – $14 million
6. Dr. Dre (tie) – $14 million
6. Snoop Dogg (tie) – $14 million
9. Akon – $13 million
10. Ludacris – $12 million
11. Wiz Khalifa (tie) – $11 million
11. Drake (tie) – $11 million
13. Pharrell Williams – $10 million
14. Timbaland – $7 million
15. Swizz Beatz (tie) – $6.5 million
15. Nicki Minaj (tie) – $6.5 million
17. Rick Ross (tie) – $6 million
17. 50 Cent (tie) – $6 million
17. Pitbull (tie) – $6 million
20. T-Pain (tie) – $5 million
20. B.o.B (tie) – $5 million