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(AllHipHop News) Forbes magazine has released a new list of Hip-Hop’s wealthiest moguls titled “The Forbes Five.” Sean “Diddy” Combs topped Forbes’s latest list of the richest Hip-Hop moguls, with an estimated net worth of $550 million dollars. Diddy’s wealth comes from a number of ventures, including his Ciroc vodka line, Bad Boy Records, and his Sean John clothing line. Jay-Z checked in at #2 two with a net worth of $450 million, Dr. Dre landed at #3 with a net worth of $270 million, Bryan “Birdman” Williams was #4 with $125 million and 50 Cent rounded out the list with a net worth of $110 million dollars. “One of my motivations in life is to be a billionaire,” Birdman told Forbes. “We’re going to keep working hard until we get our brand to be as big as possible. That’s the goal in life, that’s what I live for.”

Wu-Tang Clan member GZA will be one of several headlining acts during the 2012 Northside Festival. GZA has been tapped to perform his classic album Liquid Swords with Grammy-winning Latin Funk Orchestra Grupo Fantasma. The 2012 Northside Festival features eight-days of music with hundreds of groups, films, panels and showcases during the fourth annual event. Over 80,000 people are expected to attend the Northside Festival, which will take place at a 40,000 sq. ft. factory in Williamsburg, Brooklyn from June 14-21.

Former Above The Law front man Big Hutch has inked a one-album deal with Insane Clown Posse’s record label Psychopathic Records. Big Hutch will assume his “Cold 187um” moniker from his Above The Law days, with a new twist. The rapper will drop his album The One Solution, which will introduce listeners to his persona “The Psychopathic Assassin.” Each track on the album will feature Cold 187um rhyming over previous released Psychopathics Records’ tracks. A release date for The One Solution was not available as of press time.