For this year’s ‘Panache Report’ Richest Person in Hip-Hop contest, rap moguls Jay-Z (last year’s winner) and P. Diddy were in a dead heat once again. Thanks to the sell of ‘Bad Boy’ records to Warner Music Group and revenue from the ‘Sean Jean’ clothing line, Diddy grossed $25 million for 2005/2006 thus far.
Jay-Z grossed $20 million thus far for 2005/2006. Revenue was generated from his stake in the New Jersey Nets, Armadale vodka, his 40/40 night-club chain and the $3 million he makes in salary for his presidential duties at ‘Def Jam,’ Records.
The tiebreaker and deciding factor was Diddy’s “Unforgivable” men’s cologne, which is the top selling fragrance since its release in February. ‘Unforgivable,’ is averaging sales between $1.3 million and $1.5 million per week which is unheard of; successful fragrances typically sell $650,000 per week.
Diddy has received an additional $6 million this year, generated from the sales of his cologne, bringing his overall wealth total to: $346 million. Jay-Z’s overall wealth total for 2006; is: $340 million.
View the entire list below.
1. P. Diddy, $346 Million
2. Jay-Z, $340 Million
3. Russell Simmons, $325 Million
4. Damon Dash, $200 Million
5. Neptunes, $155 Million
6 Dr. Dre, $150 Million
7. Ice Cube, $145 Million
8. Eminem, $110 Million
9. 50 Cent, $100 Million
10. Nelly, $60 Million
10. (Tie) Jermaine Dupri, $60 Million