| Words by Miles Bennett |
Last year, 50 Cent took the throne last year thanks to his stake in VitaminWater's parent company Glacéau when it sold to Coca-Cola. But this year, Forbes crowned Jay-Z the genre's top Cash King, after he pulled in an estimated $35 million over the last 12 months. Despite making 57% less than last year, it was enough to beat out the likes of Diddy, Kanye West, Fiddy, Akon and Lil Wayne for the title. According to Forbes, both 50 and Jay's earnings dropped steeply from last year's list. For 50, it was a $100 million profit from his VitaminWater deal to put him on top, and for Jay it was a front-loaded $150 million deal with concert promoter Live Nation. But as the economy grips the world, deals like those won't be happening anytime soon. Concert promoters have stopped pursing big "360" deals like the Jay's Live Nation deal last year. "Those deals are pretty much done for now," Chris White, an entertainment analyst at Wedbush Morgan Securities, told Forbes. Last year, the top 20 Hip-Hop Cash Kings made $500 million; this year they made $300 million, a 40% drop. The rest of Hip-Hop's Cash Kings 2009 list is as follows: 2 - Diddy - $30 million |
Friday, July 10, 2009
Jay-Z Crowned Forbes’ 2009 Hip-Hop Cash King
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