Large Percentage of Forbes Top 20 List Includes Hip Hop Moguls
The popular, recently published Forbes Magazine Top 20 list of the highest paid individuals in the United States revealed that a high percentage of wealthiest Americans work in the hip hop industry. Forbes publishes a list of the highest grossing Americans each year, along with a short description of the business endeavors that have made the individual wealthy. In this year’s edition, hip hop and r and b singers, rappers, producers, music makers, media relations experts, and label heads were all represented. This news is befitting in light of the new revelation that the hip hop genre has recently surpassed the rock genre in the categories of retail sales and influence.
Included in Forbes’ list of the wealthiest Americans were rapper and fashion designer Sean Carter (Jay Z), Sean Combs (P. Diddy), Aubrey Graham (Drake) and Beyonce Knowles. These artists brought in more than 4 billion dollars combined and are a large influence in the hip hop and r and b industry. Although several other notable hip hop artists were included in the Forbes list of wealthy Americans, a look at the business lives of these individuals in particular can reveal new and important ways that the hip hop industry has expanded within the last decade.
Sean Carter, Sean Combs, Aubrey Graham, and Beyonce Knowels have all surpassed other artists in their field and have successfully commercialized their personal brands. Each of these artists has signed a major deal with large advertising campaigns, with Sean Carter representing Budweiser, Aubrey Graham representing Coca Cola’s Sprite, Beyonce Knowles representing Pepsi, and Sean Combs representing Nike. The fact that large advertisers are now seeking out hip hop stars to represent their companies represents the amount of influence that hip hop artists have gained in the commercial marketing world and suggests a positive trend in the future.