Sean “Diddy” Combs is setting the pace when it comes to making money in the rap game. The music mogul is topping “Forbes'” list of the wealthiest hip-hop artists of 2012. Diddy’s worth is 550-million dollars thanks to his investments in Ciroc Vodka, Sean John and Enyce clothing, Blue Flame marketing, and his Bad Boy record label. Diddy’s net worth is likely to increase over the next year, as he’s also set to launch his own cable network, Revolt. Finishing behind Diddy is fellow rap icon Jay-Z, who’s worth an estimated 460-million dollars. Jay’s incredible wealth is attributed to his deal with Live Nation, his 40/40 chain of clubs, and his investment in the New Jersey Nets.

Hip-hop super producer Dr. Dre comes in at number three on “Forbes'” list with 270-million dollars. Cash Money Records co-founder Bryan “Birdman” Williams sits at number four with 125-million dollars, while 50 Cent rounds out the list with an empire worth 110-million dollars.

FORBES posted this message in regards to how the list was developed:

In order to form the Forbes Five list, we followed the same procedures we use to calculate our list of the world’s billionaires—looking at past earnings, valuing current holdings, leafing through financial documents and talking to analysts, attorneys, managers and other industry players to find the nitty-gritty details. We considered only performers, which is why hip-hop mogul Russell Simmons isn’t on this list.