The highest-paid hip-hop artists vary each year based on various factors such as tours, album releases, music royalties, brand endorsements, and other business undertakings impacting their total earnings. Like most industries, hip-hop has evolved remarkably in recent years as artists capitalize on their fame and diversify their business ventures into numerous sectors. For your inspiration, we have put together a list of the highest earners and some of the business endeavors they have explored during their journeys. For 2024, the highest earners, in no particular order, are the following:
Lil Wayne
Dwayne Michael Carter Jr., better known as Lil Wayne, started his musical career at only 12 years old in New Orleans, LA. Now 41, he has released numerous singles and albums and has collaborated extensively with other hip-hop stars, such as Kanye West and Drake. Outside of his musical career, Lil Wayne has pursued ventures ranging from a cannabis brand called GKUA, a fashion label called TRUKFIT, and a sports agency. He also has multiple real-estate investments and published a book about his time in prison in 2016.
Pharrell
Pharrell Williams has dominated the music industry as a singer, songwriter, and producer since he started making music in the 1990s. He has since diversified his brand into fashion, where his ventures include the Billionaire Boys Club label and the Humanrace beauty brand, showcasing his versatility and entrepreneurial spirit as both a musician and designer.
Eminem
The journey of Eminem, born Marshall Bruce Mathers III, to become one of rap’s greatest can be attributed to his adaptability in a rapidly changing music industry. Hailing from Detroit, he has become a global star thanks to his incredible talent and influence in hip-hop. Since 1999, he has released multiple albums, a memoir called The Way I Am, the film 8 Mile, his own Sirius XM channel, and a restaurant.
Kanye West
Kanye West has one of the most diversified portfolios in terms of business ventures among hip-hop’s greatest. Though a controversial personality due to some of his more recent behavior, he remains one of the most financially successful artists and most influential both in music and fashion. His first album, 2004’s The College Dropout, was one of the most lucrative ever. Meanwhile, his clothing line, Yeezy, and collaborations with Adidas, Balenciaga, and Gap have also all contributed to his fortune.
Snoop Dogg
Snoop Dogg, born as Calvin Cordozar Broadus Jr. in Long Beach, California, has an impressive collection of hits, including 25 mixtapes, 16 promotional singles, 15 singles, and four soundtrack albums. He was signed by Dr. Dre’s Death Row Records and has won multiple awards since he began rapping in 1992. In recent years, he has made much of his wealth through his marijuana delivery service and starred in several films, music videos, and TV shows. His venture capitalist firm, Casa Verde, has also helped him to acquire significant capital.
Dr. Dre
Dr. Dre, another California native, began his musical career in the 1980s as Andre Romell Young. Shortly thereafter, he discovered and produced for rappers such as Snoop Dogg and Eminem, shaping their careers along with those of several other artists. The real reason for Dr. Dre’s financial success, however, can be attributed to his headphone and speaker brand Beats Electronics, which he sold to Apple in 2014, marking one of the largest deals in music history. Music streaming service Beats Music was launched a few years later.
Diddy
Diddy, or Sean Combs, is considered to be one of the highest-paid performers in hip-hop. Though his impact in the music industry has lessened over recent years, his success extends into the alcohol and fashion industries. Sean Combs signed a profit deal with luxury Vodka brand Cîroc in the mid-2000s, bringing him a massive fortune. He also owns numerous properties and the clothing line Sean John.
Drake
Aubrey Drake Graham, known professionally as Drake, started his musical career in 2006 and has released numerous chart-topping singles, albums, and collaborations with other artists since. The 37-year-old Canadian singer also has a whiskey brand, a clothing line, and a residency in Las Vegas. Drake has also made a significant portion of his fortune through gambling on online casinos and has partnered with the crypto casino Stake.com—a popular platform that rivals the slot sites listed on casinos.com.
Berner
Berner, whose birthname is Gilbert Anthony Milam Jr., is a hip-hop artist who has released 40 albums and is signed to Wiz Khalifa’s Taylor Gang Entertainment label. His real fortune, however, comes from the cannabis industry. Through California’s move to legalize marijuana, the rapper’s already successful cannabis company, Cookies, exploded and has brought him tremendous wealth. He currently serves as CEO and oversees retail dispensaries as well as clothing design. Cookies is considered the first $1 billion cannabis company.
Jay-Z
Shawn Corey Carter, better known as Jay-Z, has the top spot as the highest paid in hip-hop for 2024. Though his last musical release was in 2018, the Brooklyn native’s numerous business ventures have brought him plenty of fortune. His champagne brand (Armand de Brignac), streaming service (Tidal), and investments, including the Roc Nation entertainment company, Rocawear fashion line, and Roc-A-Fella Records, have all helped to boost his earnings. He is also in possession of an impressive art collection worth millions.
Conclusion
2024’s highest-paid hip-hop artists have all managed to create legacies for themselves by combining their musical expression and entrepreneurial expertise to redefine what it means to be successful in the music industry. As a result, they have attained riches far beyond what their music careers could have ever brought them.