The hip-hop industry is a very lucrative one, amassing billions of dollars in annual revenue. Besides the music, some of the most well-known hip-hop acts are using their fame, popularity, brand and influence to delve into other businesses for some extra cash.
A few months ago, African-American rapper turned music mogul, Jay-Z, became the first hip-hop artist to become a billionaire. Real name Shawn Corey Carter, Jay-Z’s fortune comes after his smart move into the music business with the release of services such as Tidal and Roc Nation.
The music industry, however, isn’t all that Jay-Z has been investing his money in. The 22 Grammy-award-winner owes his 1 billion dollar peak to other ventures such as real estate, art and shares in global brands such as Uber.
This remarkable feat goes a long way in revealing how some of the most popular and most sought after hip-hop acts are cashing in on the industry.
With a significant combined increase in revenue this year, Forbes has released its top 20 highest-paid hip-hop acts for 2019. According to the popular business magazine, this year’s highest-paid acts combined for a total of $860 million in revenue. This was 33% more than the $648 million that was accrued last year.
The cut-off point for the highest-paid acts was set at $18 million. The figures, according to Forbes, were calculated from June 2018 to June 2019.
Rounded up with data from Nielsen Music, Pollstar, Bandsintown, interviews with experts, handlers, as well as, some of the hip-hop acts, the figures are, however, pretax and not exempt of agent, manager and lawyer fees.
This year’s newcomers are Donald Glover (Childish Gambino) and Cardi B. The former, who is ranked 10th, earned $35 million with the revenue coming from his Atlanta TV series and his This Is America Tour.
Cardi B, on the other hand, racked up $28 million. Ranked 13th, the 26-year-old Grammy Award winner can also boast of being the youngest act on the list, according to Forbes. Together with Nicki Minaj, who earned $29 million and is ranked 12th, they are the only female artists on the list.
Does Jay-Z get to hold on to the bragging rights as the highest-paid hip-hop act once again or he’s going to be kicked off the throne?
Scroll through to find out: