Shopping for an account where you can park some cash? His other investments include a stake in New York-based cybersecurity firm DuskRise, startup incubator Digital Magics and Italian tech investment funds Alchimia, Nextalia and Vertis. Wiz Khalifa cashed in on the cannabis revolution with products including his Khalifa Kush (and got a big boost from quietly selling a chunk of his publishing in April). Amid the Astroworld festival tragedy, Travis Scott made the list with $38 million (No. After taxes, Iervolino was left with roughly $1 billion, earning him the nickname Mister Billion in the Italian press. Eighteen months after the sale, Iervolino has spent at least $200 million on everything from a soccer team and a cybersecurity firm to real estate and a media company that owns one of the countrys most storied magazines. The Chicago rap icon also saw items from his 10-year partnership with Gap sell out in mere hours while, of course, enjoying commercial success with his gold-certified Donda album. Fast forward a decade, and both artists earnings have increased more than tenfold. 10. Hip-Hop's Top 20 Earners Diddy tops this year's Cash Kings list, pulling in $50 million over the past 12 months. A new Kardashian in the billionaire's club:Kim Kardashian West is officially a billionaire, according to Forbes. I wanted new challenges, he tells Forbes, clad in a black suit offset by a yellow tie and red pocket square. From Forbes Forbes Magazine recently released their 2012 list of Hip-Hop Cash Kings, and topping that list is Dr. Dre. The billionaire rapper-producer now earns most of his money from a multi-year deal to design Yeezy sneakers for Adidas. J. Cole $27 million "We always respected each other, and when he [sold Multiversity] he seemed to be the right person to carry the company that I had started forward, says Denis Masetti, the 67-year-old publisher of BFC, who founded the firm in 1995 and still owns a minority stake. Travis Scott $38 million Quavo and Chloe Bailey Fuel Romance Rumors With Lunch Date, Pharrell Brings Out Chris Brown at Something in the Water Festival, Chance the Rapper Responds to His Wife After Carnival Dancing Controversy, Chance the Rapper's Wife Responds to Viral Dancing Video, Nelly and Ashanti Couple Up at Davis-Garcia Fight, Offset Appears to Respond to Quavo Amid Rumored Takeoff Tattoo Diss. We continued to invest in technology, structures, personnel and professors, and we reached the top in a few years.. But the trade-off is youll have to jump through some hoops for the bank or credit union. 1. Hip Hops highest earners of 2021 have been announced, and it appears the global COVID-19 pandemic hasnt done any harm to their pockets. After graduating, he got his first job at the nearby University of Salerno, thanks to a professor who had been impressed by his college thesis on franchising and knew his father. Doug is the U.S. Editorial Director for Forbes Advisor. In fact, its the wealthiest list yet. 10. And Tech N9ne should be applauding himself. Now, theyre among the best equipped to find paths to profit even throughout the disruptions of Covid-19. Now Italys newest billionaire is pursuing his passions, tinkering with plans toas he puts it, revolutionizebusinesses across a range of industries. Forbes says he makes a whopping $53 million a year and often even tops titans like Jay-Z ( the richest rapper in the world) and Beyonc. In addition to the 500-plus songs he has written for his own band, the OneRepublic frontman has penned hits for Beyonc, Adele and Ed Sheeran. Two years after selling a 50% stake in his company Multiversitywhich he had founded and grown into one of the . So when CVC offered to buy out his remaining stake in Multiversity, it seemed the right time to exit: In October 2021, he sold the whole firm, cashing out on his remaining stake. But while their success looms large, the small number of African Americans among the 2,755 members of the global billionaires club also highlights a racial wealth gap that can have significant consequences for those with far fewer resources--from the ability to buy a home to being able to go to college without becoming mired in debt. The blockbuster deal lands the 20-time Grammy winner at No. The Boss isnt the only rocker on a financial roll. KKR And cheap to make. LeBron James. Thursday, April 11, 2019 at 4:39 PM by Jackline Wangare. ", Soon enough, that began to change. (@dondasplace). Hip Hop's highest earners of 2021 have been announced, and it appears the global COVID-19 pandemic hasn't done any harm to their pockets. Iervolino lost the case and chose not to appeal. But today, the best money market accounts have rates as high as 4.65%. 3. Hip-hop was forged in a crucible of adversity, part of the reason its flourished amid the recent uncertain times. Past performance is not indicative of future results. Here Are the Highest-Paid Rappers of 2021, According to Former Forbes Editor A former Forbes reporter has compiled a list of the highest paid rappers of 2021. The top ten acts earned more than $1 billion pretax combined, nearly double their prepandemic annual haul. His first Yeezys designed for the Gapa hoodie and jacket arrived last year, quickly selling out. The list was compiled by former Forbes editor and longtime Hip Hop Cash Kings list creator Zack OMalley Greenburg, who revealed on Twitter that JAY-Zs What you call money, I pay more in taxes line isnt just an empty boast. The buyer was Sony Music, parent company of his longtime label, Columbia Records. Travis Scott $38 million SBUX Zack OMalley Greenburg pioneered the Forbes List of hip-hops top earners over a decade ago. Others scored big independently. Over the past 23 years, hes released dozens of additional solo albums and consistently sold out Red Rocks Amphitheater in Morrison, Colorado, which caps out at over 9,500 people. Estimates are generated with the help of numbers from MRC Data, Pollstar and other databases, as well as by interviewing handlers and some of the artists themselves. But wherever his interests take him, hes convinced that young entrepreneurs in Italy will have more opportunities to achieve successand he wants to help them seize their chance to make it big, just like he did. The Marcy Projects mogul added to his $1.5 billion net worth by selling his streaming company TIDAL to Twitter co-founder Jack Dorseys Square for $297 million, a deal that saw Jay join Squares board of directors. Listen Now Topping the 2021 report is JAY-Z earning $470 million. She re-upped with Netflix in July and continues to receive hefty residuals from ABC for Greys Anatomy. Music at VEVO Power Station on March 19, 2011 in Austin, Texas. Friends forever: The show runners responsible for the quintessential 90s sitcom resurfaced for a moment when they brought back the cast for a reunion show on HBO Max. But Drake seemingly disagrees with the assessment. pic.twitter.com/SHHCAaPTNl, DJ Akademiks (@Akademiks) March 2, 2022. The godfathers of surf rock sold a controlling interest in their intellectual property to legendary music executive Irving Azoff in February 2021. Eminem $28 million The strike was called off in February, with the editorial board announcing that fruitful negotiations between management and the magazines union had led to the hiring of several journalists. Two years later, Iervolino acquired Universitas Mercatorum, an online university launched by the Italian Chambers of Commerce focused on entrepreneurs and workers interested in part-time education. The Bridgerton producer made a bet on herself when she signed with Netflix in 2017 and wowed executives there with one of the streamers most talked about pandemic releases. Shawn Carter leads the rap pack with a career-best total of $470 million. Something went wrong. The FDIC says the average MMA rate is 0.57%, versus 0.39% for a traditional savings account. in January. Other acts on the 2014 Country Cash Kings tally . Annual income for this year's top twoJay-Z ($470m) and Kanye ($250m)is up more than tenfold from ten years ago. Todays average APY for a traditional savings account is 1.28%, Bankrate says. Diddy $75 million Kanyes 2022 is already off to a lucrative start having pulled in over $2 million in less than a week from sales of his $200 Stem Player, through which he is exclusively rolling out his new album Donda 2. 2023 Forbes Media LLC. Another major consideration is whether the account has a minimum depositand whether you have enough money to fund the account. By signing up, you agree to our Privacy Notice and European users agree to the data transfer policy. I aint foolin around Im building assets, the young impresario told Forbes in 1999and he wasnt kidding. He was seen grinding on a woman during Carnival in Jamaica. India's 100 Great People Managers 2021; Tycoons of Tomorrow 2021; W-Power 2021; . I'm always on the side of the optimists. . Then came the hard part: How was the freshly minted billionaire going to spend his new fortune? Savings accounts can come with monthly maintenance fees, excess transaction fees (if you ignore limits on withdrawals), and other pesky charges that can erode your returns. Robinson, "59th Street Bridge Song (Feelin' Groovy)" and The Sound of Silence to Sony Music Publishing for some $250 million in March. The FDIC says the average MMA rate is 0.57%, versus 0.39% for a traditional savings account. Quavo and Chloe Bailey Fuel Romance Rumors With Lunch Date, Pharrell Brings Out Chris Brown at Something in the Water Festival, Chance the Rapper Responds to His Wife After Carnival Dancing Controversy, Chance the Rapper's Wife Responds to Viral Dancing Video, Nelly and Ashanti Couple Up at Davis-Garcia Fight, Offset Appears to Respond to Quavo Amid Rumored Takeoff Tattoo Diss. Get weekly rundowns straight to your inbox, Get our latest stories in the feed of your favorite networks. "I really see the world split in two. An attractive interest rate is important, but its not the only factor when selecting an account to hold your savings. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. Figures represent 2021 pretax earnings, minus fees for representation managers, lawyers, agents and/or business operating costs. Money is clearly not a thing for Drake, who recently bet over $1.25 million in Bitcoin on the Super Bowl. Hip-Hop has always defined culture. Iervolino attended public schools in his hometown, studying humanities, Latin and Ancient Greek, before leaving to pursue a bachelors in economics at the Parthenope University of Naples, an hours drive away. Hilarious. Commissions do not affect our editors' opinions or evaluations. The 80-year-old Nobel laureate transferred his recorded music and a few future recordings to Sony in July for $150 million. I see a rosy future for young people and especially for Italy., This is a BETA experience. 10. DJ Khaled $35 million Musk, CEO of Tesla and SpaceX, landed at No. Travis Scott ($38 million), DJ Khaled ($35 million), Eminem ($28 million), J. Cole ($27 million), Birdman ($25 million), Doja Cat ($25 million) and indie rap juggernaut Tech N9ne ($25 million) round out 2021s Hip Hop Cash Kings list. Doja Cat is the only female act in the top 10. Jay-Z, Dwayne The Rock Johnson and Kanye West all grabbed spots among the top five with their own 9-figure sums, most of it earned not from rapping, producing or acting, but from selling champagne, tequila and sneakers. Diddys lucrative Ciroc vodka empire landed him a spot in the top 3 with $75 million, while streaming king Drake finishes fourth with $50 million. In December, Bruce Springsteen sold the masters and publishing rights to all his recorded music and songwritingincluding 11 multi-platinum albums and five gold singlesfor what sources say was almost $500 million. and he holds $122 million in cash and stock, according to Bloomberg. Please try again later. hip hop cash kings earnings. Shocking. One of the few actors to make the ranking this year, The Rock got only about a quarter of his earnings from roles in films like Jungle Cruise and Red Notice, with most of his Jumanji-sized payday coming from his buzzy tequila brand Teremana. The top earning woman in entertainment last year, No. Kanye West held the number two spot earning $250 million and Diddy rounded out the top three, earning $75 million. Your California Privacy Rights / Privacy Policy. Performance information may have changed since the time of publication. By signing up, you agree to our Privacy Notice and European users agree to the data transfer policy. We the biggest, you know that.. Much of the. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. 9, $27 million). 8, $28 million), and J. Cole (No. 2 on the list is fellow Watch The Throne royalty Kanye West, who earned $250 million in 2021 almost entirely thanks to his Yeezy footwear empire. Doja is unapologetically self-expressed and the world loves her for it, says Adriana Arce, Vice President at artist management firm Rebel. As for Kanye, his hundreds of millions are largely due to his Yeezy sneaker and clothing brand. But there was a silver lining for Iervolino: with students and professors stuck at home, the entire country was forced to rely on remote learning. And before you sign up for your account, be sure you look into the reputation and safety of the bank or credit union. Even the embattled Travis Scott made the list despite the deadly crowd surge at his Astroworld festivalhed already stacked up plenty of cash from his Cactus Jack empire and brand partnerships before the tragedy struck. Tech N9ne $25 million Business: Private equity, finance, investments, Business: Music, Yeezy sneakers, fashion, retail, Business: Charlotte Hornets, endorsements, Business: Movies, television, entertainment. The national average rate is just 0.39%, according to the most recent data from the FDIC, the government agency that insures bank deposits. The average APY for high-yield accounts requiring a minimum deposit of $10,000 is now 0.25% APY, down 0.26% from a week ago. BX The two continued to fuel romance rumors at Saturdays boxing match. Annual income for this yearss top twoJay-Z ($470m) and Kanye ($250m)is up more than tenfold from ten year ago. Zack OMalley Greenburg (@zogblog) March 1, 2022, Chance The Rapper Says Drug-Fueled Acid Rap Era Living Couldve Killed Him, Jermaine Dupri Clears Up Freaknik Doc Rumors: Im Telling The Story Of Atlanta, Pharrell Praises Chris Brown During Surprise Something In The Water Performance, J. Cole & Lil Durk Shoot Video For Upcoming Collab: 'I'm Sorry For The Wait', Coi Leray Flames Critics During Festival Set: Every Day Its A Hater On My Dick!, Heavy D Honored With Sculpture By Mount Vernon Mayor: He Was My Party Partner, 50 Cent Reacts To Roy Wood Jrs BMF Shout-Out During White House Correspondents Dinner, N.O.R.E. He sold a chunk of the catalog to investment firm KKR Kanye West & Jay-Z perform during VEVO Presents: G.O.O.D. Robert F. Smith Net Worth: $6 billion Age: 58 Business: Private equity, finance, investments. But today, the best money market accounts have rates as high as 4.65%. These places have been secured . Profits remain strong. The list, which was compiled by former Forbes editor and Hip-Hop Cash Kings list creator Zack OMalley Greenburg, measures pre-tax income for calendar year 2021 before deducting fees for agents, managers, lawyers, and living expenses. Online learning was seen as our salvation, the only tool that we could bet on to avoid a shutdown of the education system.. The streaming service removed his music. With the stroke of a pen, he gave up the business he had spent 15 years of his life building and found himself flush with cashand effectively without a day job. Here's what the Forbes Cash Kings list creator had to say about Wiz's 2021: "Wiz Khalifa cashed in on the cannabis revolution with products including his Khalifa Kush (and got a big boost. All Rights Reserved. BFC hasnt fired any staff at LEspresso and is looking to expand further, while also adding podcasts and improving the magazines online presence, according to Masetti and Iervolino. Now he writes the Zogblog, a Substack newsletter on music and money. Wiz Khalifa - $45 million 6. Jeff Bezos, Mark Zuckerberg, Elon Musk and Bill Gates are all role models. His latest album, 2021s ASIN9NE, featured contributions from a slew of artists such as King Iso, E-40, Lil Wayne, Russ and Snow Tha Product, among others. Jigga has made $470 million, Ye rakes in $250 million and Diddybrings in$75 millionthe aforementioned rappers are the big three on the list. Eminem $28 million Aside from legacy rockers who sold their catalogs last year (and filled up the overall rankings of the highest-paid musicians), Jay-Z and Kanye are the highest-paid musicians of any genre, and theres no rapper within $175 million of either mogul. After all, Eminem, Drake, Travis Scott, J. Cole and Wiz Khalifa were also on the roster some of the biggest names in the industry. Though Hip-Hop now accounts for 27.7% of U.S. music consumptionmore than any other genre, according to MRC Data, and roughly equal to rock and country combinedits highest-paid acts are successful because of their diversified portfolios. Tied with Doja Cat and Cash Money Records co-founder Birdman at $25 million sat independent rap juggernaut Tech N9ne. Find an account thats insured by the FDIC or, in the case of credit unions, the NCUA. How To Find The Cheapest Travel Insurance, Compare the Best High-Yield Online Savings Accounts, Best Savings Accounts For Digital Banking, Best Savings Accounts For Automated Saving, Best Savings Accounts For Customer Experience. They include Robert F. Smith, whose $6 billion fortune made in private equitymakes him the 451st wealthiest person in the world, media moguls Oprah Winfrey and Tyler Perry as well as rap icons and businessmen Jay Z and Kanye West. . Diddy netted more massive payments from Diageo for his Ciroc vodka line while Khaled padded his coffers with partnerships involving companies from Pandora to Dolce & Gabbana. JAY-Z $470 million The rapper . Here are the richest African Americans and where they rank on the list of the world's billionaires. Forbes lists Musk's place of residence as Austin, although he hasn't confirmed where in Texas he settled last year. Typically, you can write checks and take advantage of debit card privileges. Still, his first big purchase came seemingly on a whim: Two months after the sale, he acquired Italian soccer team Salernitana for $11 million. Dre boasts earnings of $110 million before taxes. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. "The media industry is going through a revolution but it doesn't have any revolutionaries, adds Iervolino. As Iervolino was increasing his stake in BFC, he also made his most high-profile acquisition yet. Nas net worth is a subject that all his fans want to know more about. Outside of the top three, Drakes record-breaking album Certified Lover Boy pushed his 2021 earnings to $50 million, while Wiz Khalifas successful ventures into the legal cannabis industry saw him pocket $45 million last year. According to Vibe, his net worth has skyrocketed to $1.5 billion. Net Worth: USD 884 Million. The current average is 0.49% APY for a high-yield account with a $25,000 minimum deposit. APY, or annual percentage rate, shows the actual return your account will earn during one year. Jay Z is the second world's richest rapper in 2022, according to the latest publication in the Forbes list. Students saw it as a fallback option.". 1. That's steady with the top . 10. According to Greenburg, annual income for this years top two is up more than tenfold from ten years ago. JAY-Z topped 2011s list with $37 million, followed by Diddy with $35 million. Given how far Jay-Z and Kanye have come in the past decade, imagine the financial heights theyll reach ten years from now.