Forbes has published their yearly list of hip hops wealthiest artists for 2012, allocating them the moniker of the Forbes Five. Music mogul Diddy tops this illustrious list with an estimated fortune of $550 million, almost $100 million ahead of his nearest rival Jay-Z.

Diddy, founder of Bad Boy Records, has backed some of the genre's biggest names including Notorious B.I.G. and also has a large business portfolio, which includes stakes in Ciroc vodka, Sean John and Enyce clothing lines, a marketing firm and various tech startup companies.

Jay-Z's $460 million fortune seems almost paltry in comparison, but his sale of Rocawear, a 10 year deal with Livenation and his stake in the New Jersey Nets and more has seen his bank balance swell considerably in the last five years.

Dr. Dre's $260 millionin the bank sees him come at third place in the list, significantly ahead of Bryan 'Birdman' Williams whose $125 million in the bank puts him ahead of 50 Cent who takes fifth place with $110 million.

Hip hop - not a bad racket to get caught up in, it would seem.