Music icon Diddy has replaced Kanye West on the list of 2022’s wealthiest hip-hop artists, according to a new report from former Forbes editor Zack O’Malley.
Ye was in second place on the list of hip-hop highest earners earlier this year, with $250 million in earnings projected for 2021, but after his contract with Adidas was terminated due to his anti-Semitic comments, he’s dropped to third place in terms of net worth.
He was said to be worth $2 billion earlier this year. Diddy is now in second place, having previously trailed behind Ye with a total net worth of $1 billion.
His Cîroc partnership with Diageo is said to account for the majority of his wealth, but other assets such as Revolt and DeLeón Tequila have certainly helped; he made $90 million last year.
Kanye West’s net worth is now estimated to be around $500 million, with the loss of his Adidas deal becoming the most significant contributor to his decline.
Due to the retention of his 5 percent stake in Kim Kardashian’s SKIMS shapewear line, and rights to his master recordings and music publishing, Ye remains wealthy. He also still owns the Yeezy brand, even though Adidas remains “the sole owner of all design rights to existing products as well previous new colorways under the partnership.”
A report from Forbes earlier this month suggested that Ye’s net worth had dropped to $400 million after the Adidas deal was terminated. Upon his return to Instagram, he seemingly confirmed such reports and said he “lost 2 billion dollars in one day.”
Additionally, Jay-Z remains in his spot as the wealthiest Hip Hop artist in North America, with a $1.5 billion net worth.
Source: Pulsegh
