10 of the richest hip-hop artists in 2023 – net worths, ranked: Pharrell Williams, Diddy, Jay-Z, Drake, Kanye West and Eminem are making millions beyond the recording studio, but who tops the list?
From art collections and private jets to massive stakes in companies, hip-hop artists have set the tone for savvy business-minded musicians. They have showed how diversifying beyond the recording studio can add longevity to their careers as well as dollars to their bank accounts.
Here’s a run-down of some of the world’s wealthiest hip-hop artists according to Celebrity Net Worth and Forbes – so who takes the throne?
10. Snoop Dogg: US$160 million
Snoop D-O-double G, as his legions know him, began rapping in 1992 and was signed by Dr Dre’s Death Row Records, previously known as Future Shock. Since his first single “Who Am I (What’s My Name)?” in 1993, the award-winning rapper has been releasing hits ever since. His impressive rap catalogue includes 15 singles, four soundtrack albums, 25 mixtapes and 16 promotional singles.
The Californian is an intelligent businessman too, making much of his fortune away from music. He has made several appearances as himself in films, started a marijuana delivery service – and has a cooking show with Martha Stewart Martha & Snoop’s Potluck Dinner Challenge, per Yahoo! Finance.
9. Lil Wayne: US$170 million
Lil Wayne began his career at 12, signing with rapper Birdman and becoming the youngest person to sign with Cash Money Records. Today, the 41-year-old rapper has released multiple songs, singles, albums and musical collaborations with Drake, Nicki Minaj and Kanye West.
He has also earned income from other avenues such as his fashion label Trukfit, books, record label Young Money Entertainment, cannabis brand GKUA and sports agency Young Money Sports.
8. Pharrell Williams: US$250 million
If anyone understands the value of diversifying his brand, it’s Pharrell Williams. Williams may have released his debut single “Frontin” in 2003 and followed up with his debut solo album In My Mind in 2006, but the producer and designer has actually been making music since the early 1990s, per The Vogue.
Sony Music says: “After numerous accolades for The Neptunes [a music duo consisting of Williams and Chad Hugo], including a Grammy for producer of the year in 2004 and a producer of the decade acknowledgement from Billboard, the charismatic Williams remained a force in mainstream music as a producer, songwriter, tough-talking rapper and falsetto-equipped singer.”
He capitalised on his musical accolades by branching into other avenues, including jewellery design and being French luxury brand Louis Vuitton’s creative director for menswear. He collaborated with Takashi Murakami on a sculpture at Art Basel in 2009 and founded I am Other, a multimedia collective and record label with a YouTube channel and clothing lines. He also created Billionaire Boys Club and Ice Cream Footwear. Other collaborations in luxury fashion include Nike Dunk trainers, Moncler and Chanel.
7. Eminem: US$250 million
Will the real Slim Shady please stand up? Eminem burst on the scene as a rapper and protégé of Dr Dre with his infectious “My Name Is” in 1999. Since then, the artist has released numerous albums. However, it is his business acumen outside the recording studio where he really begins to tally up the dollars.
He has a Sirius XM channel called Shade 45, earned millions at the box office for his film 8 Mile, and published his memoir The Way I Am. The 51-year-old also opened a restaurant called Mom’s Spaghetti and is now a character on the popular video game Fortnite.
6. Drake: US$250 million
The “Champagne Papi” may be one of the youngest on the list at 37 years old, but he is already one of the richest. Drake began his rapping career in 2006 when he launched Room for Improvement. The Canadian rapper has since released numerous albums, singles and collaborations with other artists, but his foray into business contributed much to his income.
In 2015, he signed a deal with Apple Music to the tune of US$19 million. He launched his whiskey brand Virginia Black and formed his music label called Ovo Sound. He also partnered with Nike on a sneaker line, per Free Your Music.
5. Kanye West: US$400 million
In 2004, his first record The College Dropout became one of the most successful rap albums ever, selling about 10 million copies. Despite the artist’s turbulent personal life, he’s still an acute businessman. His ventures include the Yeezy clothing line and the highly successful Yeezy Boost 350 in partnership with Adidas, which helped him earn millions, per Hypebeast. He has also collaborated with Balenciaga and Gap in 2022 on the Yeezy Gap Engineered by Balenciaga line. Of course, these partnerships came to an end after his anti-Semitic comments on social media last year.
4. Berner: US$410 million
Gilbert “Berner” Milam is signed to Wiz Khalifa’s label Taylor Gang Entertainment. The musician has released 40 albums, but fortune lies in California’s move to legalise marijuana, which saw his already famous cannabis company Cookies skyrocket. Per Business Insider, Cookies is now a US$1 billion company.
3. Dr Dre: US$500 million
The original godfather of California rap, Dr Dre discovered and produced for multiple rappers, including Snoop Dogg and Eminem. The former N.W.A member began his career in the 1980s and worked alongside Ice Cube and Eazy-E. In 2014, the prolific producer’s headphones company Beats Electronics and streaming music service Beats Music were sold to Apple for a staggering US$3 billion dollars, making it one of the biggest deals in music history. In addition to the monster deal, he launched his own record company Aftermath Entertainment.
2. Diddy: US$850 million
Sean Love Combs aka the original “Bad Boy”, Diddy began rapping in 1990s and has garnered various accolades. His albums and collaborations with other musicians solidified his reputation as a significant force in the hip-hop game. However, his business ventures are what secured his riches.
These include deals with alcohol firm Diageo, opening a preparatory school in Harlem, and launching his own high quality booze company Combs Wines and Spirits, fashion line Sean John, and media company Revolt TV. However, amid sexual assault allegations this year, Diddy is no longer involved with Diageo or the prep school – and has even stepped down as chairman from Revolt TV.
1. Jay Z: US$2.5 billion
When Jay-Z rapped “I’m Not A Businessman, I’m A Business, Man”, he meant it. Beyoncé’s hubby, whom many deem one of the best rappers of all time, is also one of the wealthiest musicians of all time. His extensive list of businesses and investments includes Roc-A-Fella Records, entertainment company Roc Nation, fashion label Rocawear, Uber and Savage X Fenty.
Additionally, the billionaire is an avid art collector, with his collection valued at US$70 million, per Parade magazine.
