Diddy & Jay-Z Land On Forbes' 25 Highest Paid Musicians List

Music moguls Jay-Z and Diddy have once again reigned supreme against their hip-hop competition becoming the only two rap acts to land spots on Forbes' 25 Highest Paid Musicians list.

While they both missed out in Top 10, Jigga and Puff shared the remainder of the list with R&B singers Beyonce, Usher and Rihanna.

1. U2 2. Bon Jovi 3. Elton John $100 million 4. Lady Gaga $90 million 5. Michael Buble ($70 million) 6. Paul McCartney ($67 million) 7. Black Eyed Peas ($61 million) 8. Eagles ($60 million) 9. Justin Bieber ($53 million) 10. Dave Matthews Band ($51 million) 11. Toby Keith ($50 million) 12. Usher ($46 million) 13. Taylor Swift $45 million) 14. Katy Perry ($44 million) 15. Brad Paisley ($40 million) 16. Tom Petty & the Heartbreaks ($38 million) 17. Jay-Z ($38 million) 18. AC/DC ($35 million) 18. Sean "Diddy" Combs ($35 million) 18. Beyonce ($35 million) 18. Tim McGraw ($35 million) 18. Muse ($35 million) 23. Rascal Flatts ($34 million) 24. Kenny Chesney ($30 million) 25. Rihanna ($29 million) (Forbes)

Earlier this year, Jay and Puff earned spots on Forbes' Top 5 Wealthiest Rappers list.

When it comes to net worth, Jay-Z is number two. The top spot goes to Sean "Diddy" Combs, who tops our accounting of rap's richest with a fortune of $475 million, fueled by his interests in Sean John clothing, Bad Boy Worldwide record label and, most significantly, his Diageo joint-venture vodka brand Ciroc. Jay-Z ranks a close second, with $450 million. Super producer/rapper Dr. Dre ranks third with $125 million, fueled by past earnings generated from his own career and by helping to launch those of Snoop Dogg and Eminem. Curtis "50 Cent" Jackson, a onetime Dr. Dre protege who reaped a nine-figure payday from the sale of Vitamin Water to Coca-Cola, rounds out the top five in a tie with Cash Money Records co-founder Bryan "Birdman" Williams at $100 million. (Forbes)

Diddy later came forward and downplayed the recognition.

"To be honest, on that list, I was on the cover of Forbes back in '98," Diddy explained in an interview. "I been on that list. I don't really get caught up into the list. I think people think that I have that money actually sitting at home in the basement...It's really like if I sold all my companies, and I take pride in [building] something as a black man that's worth that much...To everyone calling me for a loan today, I do not have that money today! ... It helps inspire people and it shows the power of hip-hop." (MTV)

Despite making it into the Top 5 list as well, Cash Money Records' co-founder Baby recently argued his projected worth.

"I don't know how they tally up," Baby said in an interview with Uptown Angela referring to Forbes' list."To my knowledge I thought it was down. They said I made a $100 million dollars. I don't know where they get that sh*t from. I'm banking in more than a $100 million. That's a low number for a n*gga like me. But it's cool. For anybody to recognize anything is respected. We know what to do. The goal in our life and my life is to be a billionaire. I'm flipping hundreds. I ain't that far. I'm about eight steps." (Urban Radio NO)