But this time around Jay-Z has to fall back and settle for the second high ranking seat because P Diddy is the new boss with the money. Forbes revealed their list of the highest-earning hip hop artists, and the "Empire State of Mind" rapper is second tJay-Z, who also boasts a varied portfolio in addition to his Roc Nation record label, was a close #2 with $450 million.o fellow music mogul Diddy. Adding up Diddy's stakes in Bad Boy Records, Sean John Clothing, and deals with Ciroc vodka, Diddy claimed the top spot with $475 million. The rest of the top five was rounded by by Dr. Dre (a distant third with $125 million), 50 Cent ($100 million), and Cash Money CEO Birdman ($100 million). If it's any consolation, Jay-Z did top Forbes' list for Top Earning Celebrity Couples, thanks to his partnership with the equally successful Beyonce. Big ups Diddy guess all those TV shows and the hustle has paid up. Who be balling BIG now??

Rap music is a genre of hip-hop culture which developed in the South Bronx during the 1970s. Rapping includes important elements like DJing, sampling and beat boxing. Rap music is a unique vocal style that combines spoken word with lyrics and rhyme and is accompanied by instrumental music. Since the 1970s the demand for rap music has grown rapidly and numerous rap artists have gained worldwide recognition.

Born in 1972, Diddy was raised in the suburbs of the Bronx, where he spent his adolescence amid the rising hip-hop scene. He interned with Uptown Records in the 1990s and became the vice president of the record label. He went on to form Bad Boy Records in 1994 and became the producer for various rappers, including The Notorious B.I.G. and Mary J Blige. In 1997 Diddy released his first album, "No Way Out;" he also launched a new clothing line under the label Sean John in 1998, earning him the Best Men's Wear designer title by the Council of Fashion Designers of America.

Although the two are no longer together, Diddy's ex-girlfriend, Kim Porter, gives birth to his second child, Christian. (Diddy has a son Justin, 4, with fashion stylist Misa Hylton-Brim.) Fatherhood is "one of the greatest joys of my life. It has taught me about life and about how to love more.