Drake emerges Forbes Five Hip-Hop's Wealthiest Artists of 2016 list

Drake is now the 5th wealthiest hip hop artist in the US with a net worth of $60million, knocking out 50cent from the spot. Read the report from Forbes.com below..

"Drake once said he planned to make $250 million by the time he was 29. With less than a year left before he turns 30, he’s still got a ways to go. But the Toronto native is certainly on the right track: this year, he’s the first newcomer to crack the Forbes Five.

For years, our list of hip-hop’s wealthiest artists has been composed of the same five figures—Birdman, Diddy, Dr. Dre, Jay Z and 50 Cent. But the latter spent his $100 million Vitaminwater windfall faster than we thought, and last summer’s bankruptcy filing knocked him off the list. Enter Drake—flush with cash from touring, music and deals with the likes of Nike NKE -0.12%, Sprite and Apple—at No. 5, with a net worth of $60 million.

“That’s pretty much my objective every year,” Drake once said of having his financial achievements acknowledged by FORBES. “Other than making good music.”

Still, it could take decades for Drake to ascend to the heights occupied by this year’s king: Diddy, who boasts a staggering fortune of $750 million, up slightly from last year.

See the top five below...

Diddy - $750million

Dr. Dre - $710million

Jay Z - $610million

Birdman - $110million

Drake - $60million