Sean "Diddy" Combs climbs to the top of hip-hop once again. The New York native scores the No. 1 slot on the Forbes Five: Hip-Hop's Wealthiest Artists 2012, a list of hip-hop's highest-earning artists. Besides Diddy, Jay-Z, Dr. Dre, Birdman and 50 Cent each have a place.

According to Forbes, the Bad Boy Records mogul has a net worth of $550 million, according to Forbes. He is the closest of the five rap stars to becoming a billionaire. Ciroc vodka, clothing lines Sean John and Enyce, his record label, various tech startups and his marketing firm Blue Flame all attribute to his wealth.

Jay-Z comes in at No. 2 with $460 million earned. He Rocawear clothing house was sold for $204 million in 2007, adding to his cash flow, while he signed 10-year $150 million deal with Live Nation in a year later in 2008. Stakes in the New Jersey Nets, his 40/40 Club chain, ad firm Translation, cosmetics company Carol's Daughter and other businesses are where he obtains revenue from.

Check out the record numbers Dr. Dre, Birdman and 50 Cent have earned below.

The Forbes Five: Hip-Hop's Wealthiest Artists for 2012

1. Diddy -- $550 million

2. Jay-Z -- $460 million

3. Dr. Dre -- $270 millon

4. Birdman -- $125 million

5. 50 Cent -- $110 million


Watch Diddy Perform "I Need a Girl Part 1" for AOL Sessions

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See Photos of Diddy's Fashion Evolution

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