The rap icon, aka Shawn Carter, is No. 1 on the site's list of "Hip-Hop Cash Kings," based solely on 2006 income. He banked an estimated $34 million, Forbes.com said Thursday.
Jay-Z, president and CEO of Def Jam Recordings, released his 11th studio album, "Kingdom Come," which sold around 2 million copies. Jay-Z, 37, is also part owner of the New Jersey Nets and has endorsement deals with Budweiser, Hewlett-Packard and General Motors.
Curtis "50 Cent" Jackson ranks second with an estimated $32 million. The 31-year-old rapper-businessman oversees his G-Unit record label, clothing line, ring tones and other enterprises, and has sold more than 11 million albums. His latest record, "Curtis," is due out Sept. 11.
Diddy (real name: Sean Combs) placed third with an estimated $28 million. A fashion plate, he has a clothing line, Sean John, and heads Bad Boy Worldwide Entertainment and its record label. Diddy, 37, is also host of MTV's "Making the Band" series.
Rounding out the top five are Timbaland ($21 million) and Dr. Dre ($20 million). They're followed by Eminem ($18 million); Snoop Dogg, Kanye West, Pharrell Williams and Scott Storch (all $17 million); Ludacris and T.I. (both $16 million); Outkast and Lil Jon (both $14 million); Ice Cube ($13 million); Jermaine Dupri and Swizz Beatz (both $12 million); Chamillionaire and The Game (both $11 million); and Young Joc ($10 million).