P. Diddy poised to enter the billionaires club

When Sean John Combs, better known as P. Diddy, was born in Harlem, New York, his neighbours probably never thought that he’d be  a billionaire.  In fact, Diddy is projected to enter the billionaire club possibly as early as 2013, once his cable channel Revolt launches.  That’s right, Diddy tops the Forbes annual Hip Hop’s Wealthiest Artists 2012 list.

Jay-Z who topped the annual list three years in a row was overthrown by Diddy’s net worth of $550 million, thanks to ventures such as Ciroc vodka and some of his new tech startups.  Diddy’s staples continue to be his clothing lines Sean John and Enyce, and record label Bad Boy.

Though Jay-Z slipped to second on the list, his net-worth of $460 million, unlike his fellow high-rollers, is primarily form his music ventures.  After a widely successful tour with Kanye West, Jay-Z  continues to add to his pockets with his stakes in the New Jersey Nets, ad firm Translation and even a cosmetics company.

Coming in number three is Dr. Dre with a not too shabby $270 million.  Dre’s Beats Electronics was sold to Taiwanese handset maker HTC in August.  Don’t be surprised if Dre doubles his worth by next year with Beats Electronics continuing to expand and push out innovative music products.

 

Source: Forbes Magazine

 

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