The Toronto star, who recently released new album ‘Views’, overtakes 50 Cent to take fifth place. His climb has been attributed to money from music, touring, plus deals with Nike, Sprite and Apple.
Drake previously described getting into the Forbes list as “pretty much my objective every year… Other than making good music.”
50 Cent (real name Curtis Jackson) has dropped out of the top five following his well-documented financial troubles. He filed for bankruptcy last year.
Puff Daddy, aka Sean Combs, comes top of the list mostly due to successful business ventures such as Ciroc vodka, his TV network Revolt, Sean John clothing line and Bad Boy record label.
See the full top five below.
1. Puff Daddy ($750 million / £517m)
2. Dr Dre ($710 million / £489m)
3. Jay Z ($610 million / £420m)
4. Birdman ($110 million / £75m)
5. Drake ($60 million / £41m)