Sean “Diddy” Combs is officially a billionaire.
The Bad Boy tycoon places second on the 2022 list of hip-hop’s wealthiest artists as his net worth soars to $1 billion, according to former Forbes entertainment editor Zack O’Malley Greenburg.
Diddy’s billion-dollar fortune is due in part to his Ciroc partnership with Diageo, which draws in $60 million annually. The 52-year-old mogul’s empire also includes DeLeón Tequila and his REVOLT media network, for which he is a majority shareholder, as well as his music catalog and other investments.
He replaces Kanye West, who lost his billionaire status in the wake of his anti-Semitic and anti-Black comments that cost him his lucrative adidas partnership. His total wealth dropped from a reported $2 billion to around $500 million.
“I lost 2 billion dollars in one day and I’m still alive,” Ye wrote in the aftermath. “The money is not who I am. The people is who I am.”
JAY-Z, who was declared hip-hop’s first billionaire in 2019, reclaims his title as hip-hop’s richest artist with a net worth of $1.5 billon, thanks to his successful ventures including Roc Nation and Armand de Brignac. Last year, he sold a 50 percent stake in the luxury champagne brand to LVMH Moët Hennessy Louis Vuitton.
Gilbert “Berner” Milam takes the No. 4 spot with a net worth of $410 million thanks to his cannabis empire Cookies, which sells 70 strains of weed and 2,000 marijuana-related products across its 48 stores worldwide. The Bay Area rapper and entrepreneur maintains an estimated 30 percent stake in the company.
Dr. Dre follows Berner with a net worth of $400 million. Once valued at $800 million, his fortunes have taken a hit due to his $70 million investment in the creation of a music academy at the University of Southern California and $100 million settlement to his ex-wife, half of which has already been paid.
The combined total of the five richest artists in hip-hop is now a reported $3.8 billion, a 20 percent increase over the $3.17 billion pre-pandemic total.
Hip-Hop’s Wealthiest Artists 2022
1. JAY-Z – $1.5 billion
2. Diddy – $1 billion
3. Kanye West – $500 million
4. Berner – $410 million
5. Dr. Dre – $400 million