Jay-Z is not the richest man in the world

I attended a meeting on Monday of last week in which the procurator asked a group of about 100 people who the richest man in the world is. From the back of the room - as a testament to the education level of the people in this country - there was a loud and confident response: "Jay-Z."

Contrary to popular opinion in West Philadelphia, Jay-Z is not the richest man in the world.
He was however, voted by Forbes Magazine as the richest Hip-hop mogul of 2007.

Using only 2007 gross incomes, Forbes compiled a list of artists. This is not including the majority of residual income collected, liquidable assets or investment capital - it is merely a reflection of what these cats earned last year... and it is still disturbing.

Here was the list:

1. Jay-Z - $34 million : Keep in mind, will you, the majority of Jay-Z'a income is from endorsements and other investmests, no tfrom record sales... which makes him a business man. I think it's also important to note that he didn't spent half of his billions on getting his teeth capped with gold and diamonds.

2. 50 Cent - $32 million : "Fiddy" presides over a business portfolio that includes apparel, ringtones, video games and cheap fiction. Not bad for a guy that knows niether how to spell nor pronounce his own name.

3. Diddy - $28 million: I'm just so sick of this guy and his lavish trips to Dubai.

4. Timbaland - $21 million: I think the majority of his income comes from boot sales or something.

5. Dr. Dre - $20 million: He made $6.2 million on a revolutionary brain transplant that he performed on George W.

6. Eminem - $18 million: His fortune is in the candy industry.

7. Snoop Dogg - $17 million : The sales of the New Merriam-Snoop Dictionary for "the hip-hop afficianados who can't understand the language that the rapper is speaking" have padded Snoop's purse.

8. Kanye West - $17 million : West made a bet that next year his income with quadruple that of 50 Cent. If it doesn't he will get his teeth capped to match Fiddy's.

9. Pharrell Williams - $17 million : Dude just makes awesome shoes.

10. Scott Storch - $17 million : Who? This a-hole is Canadian... I think just for that, Nelly and his Pimp Juice sport's drink should take this slot... because I said so, and because he will hit the $100 million milestone with his clothing line, investment in a basketball ball team and caffine sales within the next 18 months. Might as well make room for him on the list.

11. Ludacris - $16 million : The majority of Luda's wealth is generated from his bad acting, not his bad rapping.

12. T.I. - $16 million : He is invested in the film industry too, but in the "I just opened my own production company" sense. Look for T.I. to be moving into echelons of P-Diddy soon. Hey, maybe he'll even date J-Lo for a while.

13. OutKast - $14 million : When you write, produce, create the two-disc sound track for and star in your own film, there has to be some residual benefit. But I don't think that Forbes was aware that Outkast is comprised of two people... so does that mean that they really only earned $7 million each?

14. Lil Jon - $14 million : Now that's sad... He made $14 million on three words... and Dave Chappelle was the one who made them famous.

15. Ice Cube - $13 million : I thought he was dead.

16. Jermaine Dupri - $12 million : I think Janet could have something to do with this listing... I mean, for real, it never hurts to have a Jackson on your team in any facet... unless you are an 11-year-old boy with cancer and you get invited over for the family Thanksgiving extravaganza.

17. Swizz Beatz - $12 million : Another producer on the list. Puerto Rico represent. He is the best talent scout in the business at the moment... which says very little for his talent.

18. Chamillionaire - $11 million : Krazy Bone put him here. Don't forget it. Holla.

19. The Game - $11 million : You know that salaries are just higher in California.

20. Yung Joc - $10 million : I've got nothin'.

I though it was interesting that there were no women on this list, AND hip-hop mogul Russell Simmons was not recognized.