While some may be surprised that he made the top of this list without putting out an album this year, Diddy is number 1 on Forbes’ wealthiest hip-hop artists list. Diddy is sitting comfortably with $550 million, while Jay-Z comes in at number 2 with $460 million. Hip Hop Wired has the latest on the list makers.

Records sales aren’t what they used to be, and one of his former artists just caught a murder charge, but make no mistake, Diddy is still doing well for himself. Forbes has named the mogul the wealthiest hip-hop artist of 2012. For the second year in a row Mr. Combs topped the list above the likes of Jay-Z, 50 Cent, and other usual suspects.

The Bad Boy Records head netted $550 million last year, putting him one step closer to becoming hip-hop’s first billionaire. Among the business collaborations fattening his pockets include his partnership with Ciroc vodka, his Sean Jean clothing line, and the Blue Fame marketing agency.

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