From Rapping to Riches…
Posted by mkdryden on August 17, 2007
Rap mogul Jay-Z has been recently name the richest rapper of the year by Forbes magazine. This is based on 2006 income in which Jigga banked $34 million. Yahoo states in their article that he is the Hip-Hop Cash King. Since his debut album in 1996, Reasonable Doubt, he has always been known for his business savvy ways.
He was the co-founder of Roc-a-fella Records and the creator of Roca-wear jeans. He sold the record label in 2005 to Def Jam Record and also became president and CEO of Def Jam Records. He recently sold Roca-wear for over $50 million. He also is a minority owner of the New Jersey Nets basketball team. He has endorsement deals with Budweiser, Hewlett-Packard and General Motors (where he has a patented color, Jay-Z blue).
Hova doesn’t share the spot light alone as a rapper with riches. He is joined by other big name rap heavy weights such as 50 Cent and Sean “Diddy” Combs who round out the top three spots. According to the article “Curtis “50 Cent” Jackson ranks second with an estimated $32 million. The 31-year-old rapper-businessman oversees his G-Unit record label, clothing line, ring tones and other enterprises, and has sold more than 11 million albums. Diddy , who is 37, placed third with an estimated $28 million. He has a clothing line, Sean John, and heads Bad Boy Worldwide Entertainment whichs host of MTV’s “Making the Band” series.”
Obviously I am in the wrong industry. I guess I need to start working on a rap album and start my own label.
www.forbes.com
http://news.yahoo.com/s/ap/20070816/ap_on_en_mu/forbes_hip_hop_kings
