Hip-Hop mogul Sean “P. Diddy” Combs has joined the exclusive rap billionaire club, becoming the second wealthiest rapper in the world.
via: Complex
According to a new report from former Forbes editor Zack O’Malley, Jay-Z has stuck with his spot as the wealthiest hip-hop artist in North America with a net worth of $1.5 billion. Earlier this year Ye was in second place on the list of hip-hop’s highest earners with $250 million in earnings for 2021, but after his deal with Adidas came to abrupt end on account of his anti-Semitic comments, he’s slipped to third place in terms of net worth. He was reportedly worth $2 billion at one point this year. Now Diddy has the second-place spot, after trailing behind Ye in the past.
Diddy is hip-hop’s third billionaire with a net worth of $1 billion. His Cîroc partnership with Diageo is said to account for the bulk of his wealth, but other assets such as Revolt and DeLeón Tequila have certainly helped; last year he made $90 million.
Ye’s net worth is estimated to be sitting around $500 million now, and the loss of his Adidas deal is the biggest contributor to his decline. Diddy and Ye actually traded barbs on Instagram earlier this month on account of the “White Lives Matter” t-shirt controversy.
Due to the retention of his 5 percent stake in Kim Kardashian’s SKIMS shapewear line, and rights to his master recordings and music publishing, Ye remains wealthy. He also still owns the Yeezy brand, even though Adidas remains “the sole owner of all design rights to existing products as well previous new colorways under the partnership.”
A report from Forbes earlier this month suggested that Ye’s net worth had dropped to $400 million after the Adidas deal was terminated. Upon his return to Instagram, he seemingly confirmed such reports and said he “lost 2 billion dollars in one day.”
The post Diddy Becomes a Billionaire, Replaces Kanye on List of 2022’s Wealthiest Hip-Hop Artists as West’s Net Worth Drops appeared first on LOVEBSCOTT.
