Diddy unseats Kanye West, becomes America’s latest hip-hop billionaire

American music mogul, 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, Jay-Z has stuck with his spot as the wealthiest hip-hop artist in North America with a net worth of $1.5 billion.

Earlier this year Kanye West also known as, Ye, was in second place on the list of hip-hop’s highest earners with $250 million in earnings for 2021, but after his deal with Adidas came to abrupt end on account of his anti-Semitic comments, he’s slipped to third place in terms of net worth. He was reportedly worth $2 billion at one point this year.

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Now Diddy has the second-place spot, after trailing behind Ye in the past, complex.com reports.

Diddy is hip-hop’s third billionaire with a net worth of $1 billion. His Cîroc partnership with Diageo is said to account for the bulk of his wealth, but other assets such as Revolt and DeLeón Tequila have certainly helped; last year he made $90 million.

Ye’s net worth is estimated to be sitting around $500 million now, and the loss of his Adidas deal is the biggest contributor to his decline. Diddy and Ye actually traded words on Instagram earlier this month on account of the “White Lives Matter” T-shirt controversy.

Due to the retention of his 5 per cent 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 colourways under the partnership.”