Tuesday, September 23, 2014

Dr Dre tops Forbes list of highest earners in hip-hop

Veteran rapper,Dr Dre has topped Forbes list of highest earners in hip-hop.Dre's earnings, boosted by $3bn Beats sale to Apple, makes him highest earner on Forbes with $620m in estimated pre-tax earnings.

Forbes said Dre's estimated annual earnings for the 12 months between June 2013 and 2014 are the highest of any musician in any genre it has ever evaluated, and more than the combined takings of the other 24 names on the hip-hop list released on Tuesday.



Much of the 49-year-old's earnings this year came thanks to the $3bn sale to Apple of the Beats high-end headphone company he founded with music executive Jimmy Iovine and other financial ventures, including cognac and vodka brands.

P diddy who was formerly at number one came second place with Jay Z, with $60m, with earnings from drinks, clothing and television deals.

Jay Z, who toured with his wife, Beyoncé, for the first time with their On the Run concerts, pulled in money from lucrative performances, his latest album and his Roc Nation entertainment empire, which assured him a place in the top five

Drake, came in fourth with $33m with takings from his album Nothing Was the Same, an endorsement deal with sportswear firm Nike and a concert tour.

Grammy-winning duo Macklemore & Ryan Lewis rounded out the top five with $32m.

Forbes compiled the list by looking at income from record sales, publishing, merchandise sales, tours and endorsement deals and talking to managers, agents, lawyers and some of the artists. The earnings were calculated based on data from Pollstar, RIAA (Recording Industry Association of America) and Nielsen SoundScan. Fees for agents, managers and lawyers were not deducted from the estimates.

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