Forbes released their Top Five Wealthiest Rappers of 2012, with P.Diddy on top of the list and Jay Z for a close second.

In 2010, Jay Z topped the "Richest Rappers" according to Forbes magazine, but this year, he stepped down from the throne as P.Diddy takes number one spot. For a complete list of this year's 2012 top five list, read more below.

Sean "Diddy" Combs

Net Worth: $500 million - as of April 2012

Due to his various business ventures, P. Diddy made it to the number one spot of this year's richest rappers according to Forbes. Along with his career as a music artist, he built the clothing line Sean John, the record label Bad Boy and Ciroc vodka. On 1999, he told Forbes that he will be bigger than David Geffen.

Shawn "Jay Z" Carter

Net Worth: $450 million - as of April 2012

In 2007, Jay Z sold Rocawear clothing label and earned himself $204 million. He then signed a $150 million deal for 10 years with Live Nation in 2008. Today, Jay Z not only boasts a successful career but an impressive portfolio in business ventures. He decided to put shares in the "New Jersey Nets" as well as in music, fashion and restaurant businesses.

Andre "Dr Dre" Young

Net Worth: $250 million - as of April 2012

The producer and rapper might not have an album for the past 10 years but that doesn't mean he's not reaping his rewards. Over the years he has helped the launch of the careers of Snoop Dogg, Eminem and 50 Cent. He then expanded his wealth through his record label, Beats headphones and an HP laptop line. Last year, he sold 50% of Beats electronics to HTC for $310 million.

Bryan "Birdman" Williams

Net Worth: $110 million - as of April 2012

He co-founded the cash Money Records with his brother Ronald. It then gained $30 million distribution deal in 1998 with Universal. He is affiliated with Young Money lineup which includes Nicki Minaj and Lil Wayne.

Curtis "50 Cent" Jackson

Net Worth: $100 million - as of April 2012

The artist has grown business savvy when he sold Vitamin Water to Coca Cola. In 2008, he told Forbes magazine that it would probably take him 10 years more to make himself a billionaire.

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