Rapper Diddy, formerly known as P Diddy has once again been named the richest in the world of hip hop by Forbes.

The rapper whose real name is Sean Combs has a huge $580 million (£382 million) fortune which meant that he was able to hold on to the top spot in the list despite some stiff competition from his fellow rappers.

As well as his music career, Diddy also owns several business ventures including his own record label, Bad Boy Records and this has helped him amass his vast wealth.

Diddy also has a deal with Ciroc Vodka and as equity analyst at Edward Jones & Co Jack Russo explains, this has also helped him along. "It is one of the fastest-growing brands within vodka," he says.

"Consumers are feeling a little bit better about their situation, and with that, they're willing to spend more on premium products."

Mr Beyonce Jay-Z was second in the Forbes list with a net worth of $475 million (£313 million) which is largely due to his ownership of label Roc Nation.

Dr Dre completed the top three with a fortune of $350 million (£230 million) owing to his hugely successful Beats by Dre headphone brand.

{jcomments on}