Forbes released a list of the top 20 highest paid artists in 2012 and Diddy came out on top. He earned an estimated earning of 50 million from his Ciroc vodka, Bad Boy Entertainment and his Sean John clothing line. This is the first time that Diddy has topped the list.
Jay Z came in second with an estimated earning of 43 million. The "Empire State of Mind" rapper made five million from his deal with Samsung and double digit earnings in the millions with his concerts. He also started his own management agency and you can't forget his Roc Nation label.
Dr. Dre went from topping the list last year with 110 million to third place with 40 million this year. Majority of his earnings come from headphone lines, Beats By Dre.
Forbes says that these numbers are estimated by accounting for merchandise sell, touring, publishing, record sales, endorsements and a few other ventures. These numbers aren't a 100 percent accurate but close to the real numbers.
Nicki Minaj and Birdmam are the fourth and fifth highest paid rappers of 2012. Minaj made an estimated 29 million while Birdman made 21 million. Young Money was well represented with Drake and Lil Wayne also making the list.
Kanye West just missed out of the top five with 20 million.
A few independent artists were also on the list such as Mac Miller (6 million), Macklemore and Ryan Lewis (9 million) and Tech N9ne (7.5 million).