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Sean “Diddy” Combs finished 2012 as the Richest Rapper 2012 – Wealthiest Hip-Hop Artists

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Top-5 Richest Rappers Of 2012 with Diddy on top the list for the second year, Jay-Z dropped down to second after coming first in 2010.

Many of these rappers rose from rags to riches by tirelessly working simultaneously as producers, writers,musicians and businessmen. However, their hard work has quite literally paid off and has made them millions, according to Forbes.

NO .1 SEAN DIDDY COMBS

Net Worth: $550 million – As of April 2012
Earnings according to Forbes: 2011: $35 million, 2010: $30 million

Diddy’s business ventures, along with his career as a rapper, made him the richest rapper on the planet, built fortune chiefly through clothing line Sean John, record label Bad Boy and Ciroc vodka. Acting gigs, television shows and guest appearances add to coffers. He told Forbes in 1999: “I’m gonna be bigger than David Geffen.” Not there yet.

NO .2  SHAWN JAY-Z CARTER

Net Worth:$460 million – As of April 2012
Earnings according to Forbes: 2011: $37 million, 2010: $63 million

The ’99 Problems’ rapper and Beyonce’s husband sold Rocawear clothing label for $204 million in 2007; signed 10-year $150 million Live Nation deal in 2008. Now boasts an impressive portfolio, including shares in the New Jersey Nets as well as his input in fashion, music and restaurant businesses.For more on the business of hip-hop, check out Zack O’Malley Greenburg’s new Jay-Z biography, Empire State of Mind, at http://jayzbook.com

  NO. 3 ANDRE DR DRE YOUNG

Net Worth: $260 million – As of April 2012
Earnings according to Forbes: 2011: $14 million, 2010: $17 million

Superproducer/rapper,Dr. Dre may not have put out a new album in the last 10 years,but the rapper and producer has reaped the rewards from his business. He helped launch careers of Snoop Dogg, Eminem, 50 Cent. Expanded wealth with Aftermath record label, Beats headphones and HP laptop line. On 11th August 2011, Dr Dre reportedly sold 50% stake in Beats Electronics, the headphone company to Taiwanese smartphone maker HTC for £191 million ($310m).

NO. 4 BRYANS BIRDMAN WILLIAMS

Net Worth: $125 million – As of April 2012
May 2010 to May 2011 Earnings according to Forbes: $15 million

Bryan ‘Birdman’ Williams,Cofounded Cash Money Records with brother Ronald and inked $30 million distribution deal with Universal in 1998; affiliated Young Money lineup now includes rappers Lil Wayne and Nicki Minaj. Lyrical boasts (“Richer than the richest!”) are simply not true. Bird has an estimated net worth of $110 million as of September 2011.

NO. 5 CURTIS 50 CENT JACKSON

Net Worth:$110 million – As of April 2012
Earnings according to Forbes: 2010: $6 million, 2009: $8 million

50 cent has made it to the top five particularly for his business-savvy, as the rapper got a neat nine-figure payout from the sales of Vitamin Water, when it was sold to Coca Cola; spent freely on cars, renovations to the mansion formerly owned by Mike Tyson. Cushion remains from catalog, acting gigs and 50 Cent-themed videogames, books, clothes and headphones. Future billionaire? He told Forbes in 2008: “It’s probably going to take me 10 years.”

PICTURES FROM CALARBA CANIVAL 2012

L.A. gun buyback nets 2,037 firearms, including 75 assault weapons

A one-day gun buyback event in Los Angeles on Wednesday gathered 2,037 firearms, including 75 assault weapons and a rocket launcher, officials said. The total was nearly 400 more weapons than were collected in a similar buyback earlier this year.


Mayor Antonio Villaraigosa said the collection at two locations was so successful that the city ran out of money for supermarket gift cards and got a private donation through the city controller to bolster the pot.

The gun buyback was moved up from its usual Mother's Day date in response to the horrific massacre Dec. 14 that claimed the lives of 26 people, including 20 students, at Hook Elementary School in Newtown, Conn.

PHOTOS: L.A. gun buyback

"As you can see to my right and left, these weren't just guns that weren't functioning any more," Villaraigosa said at a news conference Thursday morning. "These were serious gun -- semi-automatic weapons, guns that have no place on the streets of Los Angeles or any other city.

The mayor described the event as a success, but acknowledged there still many guns on the streets.

Hundreds lined up in cars to get Ralphs gift cards in exchange for different types of guns. Villaraigosa said the LAPD collected 901 handguns, 698 rifles, 363 shotguns and 75 assault weapons. The weapons will be melted down.
He said nearly three-quarters of those turning in the weapons said in an informal survey that they felt safer with the weapons off the street. 

"Perhaps the most honest testament to the success of yesterday's program can be seen in the 166 weapons that were surrendered for nothing," Villaraigosa said.

Police Chief Charlie Beck said it was the most successful gun buyback event since the city began the program.

"Those are weapons of war, weapons of death," Beck said, motioning to a selection of military-style weapons on a display table. "These are not hunting guns. These are not target guns. These are made to put high-velocity, extremely deadly, long-range rounds downrange as quickly as possible, and they have no place in our great city."

Beck acknowledged that the weapons would not be checked for connections to crimes before being melted down. He said the sheer number would make that difficult, and he does not want to deter people from turning in firearms.

Villaraigosa again Thursday called for a national assault weapons ban and for strengthening the California assault weapons law to close loopholes.

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-- Richard Winton

Photo: LAPD Chief Charlie Beck shows Mayor Antonio Villaraigosa a rocket launcher turned in during Wednesday's gun buyback event. Credit: Jay L. Clendenin / Los Angeles Times