The list of Hip Hop's richest folks has hit the scene again. Last year Diddy was #1...but Mr. Shawn Carter straight took over. He's at #1 with $500 million in the bank. 50 took that #2 spot...thanks mainly to his Vitamin Water deal that gave him $400 million alone...and Diddy has slid to #3. I would tell Diddy to step his game up but just the simple fact he's a powerful man with some good credit is enough for me.
Panache Report's brief financial breakdown of Jay-Z's change:
Jay-Z's wealth for 2007 is based on the following: The Rocawear sale (after corporate lawyer fees and taxes applied) is in the $150-$160 million range, his Def Jam salary ($3 million) his endorsement deals ($9 million) his publishing rights ($10 million annually) his annual income from his 40/40 clubs is ($5 million), his income from Armadelle Vodka nets him $13 million yearly, his royalties from "Kingdom Come,' netted him $2 million due to a high royalty rate
(despite sluggish sales due to downloading ) and his consultant salary with Anheuser-Busch along with his NBA investment nets him a combined total of $5 million-and his $340 million carried over from 2006 brings the grand total to staggering: $547 million dollars. Highest dollar amount (Rocawear) calculated for overall total.