Rapper makes debut on Forbes Hip Hop rich list

joan

May 4, 2016 10:45 AM

Drake has become the newest member of the Forbes Five club of hip hop's wealthiest artists, released on May 2 with a net worth of $60 million.

Drake

Drakes money is fast becoming meaningful especially after making his Forbes music rich list debut on May 2.

The Canadian rapper became the newest member of the Forbes Five club of hip hops wealthiest artists on Monday with a net worth of $60 million.

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The 'Hotline bling' hit-maker joined the regulars including rappers Sean "Diddy" Combs, Andre "Dr. Dre" Young, Shawn "Jay Z" Carter, Bryan "Birdman" Williams and Curtis "50 Cent" Jackson.

Due to a mismanagement of funds which resulted in a bankruptcy last summer, 50 Cent was superseded by Drake, who has increased his net worth through touring, music releases and business deals with Nike , Sprite and Apple.

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According to Vibe Magazine, Drake's fourth studio album, "Views" reportedly sold an estimated 630,000 copies on its April 29th release date. The 29-year-old made about $800,000 in one night; with each album selling at $13.99 exclusively on iTunes.

Meanwhile, business mogul and rap artist Diddy continued to lead the pack with a net worth of $750 million thanks to his agreement with Diageo’s Circo vodka, stakes in his music television network Revolt, his clothing line Sean John and more. Dr. Dre follows with $710 million, then Jay Z in third place with $610 million and finally Birdman, who came fourth with $110 million.

ALSO READ:Forbes names Sean 'P.Diddy' Combs as world's highest paid hip hop musician in 2015

While Drake's net worth looks smaller in comparison to his fellow club members, Drizzy is quickly climbing the ranks, earning some $150 million to date before taxes and spending, according to Forbes.

Forbes analyses artists’ past earnings, values their current holdings and talks to industry specialists to determine which hip-hop star makes it on the list. Combined together, Forbes said, all five artists are worth $2.2 billion dollars.

Watch Nigerians trying to rap like Drake in our video below:

joan