The last few years were not a good time for the music industry in terms of album sales. No genre has taken this harder than hip hop, which dropped 44 percent in sales since 2000 and accounted for a mere 10 percent of the total music sales. Despite this, the cash still kept coming in for the hip hop moguls who went beyond being rappers and became big-time entrepreneurs.
In the Forbes' list of hip hop cash kings, the top earners were artists who didn't just produce albums and go on concert tours; they were head honchos of multi-million empires which were banked on the entire hip hop and pop culture. These personalities put their stamp on everything, from sneakers to vitamin water, so much so that were already brands in themselves.
The current top earner in the hip hop industry is Def Jam Recordings CEO Shawn Carter, better known as Jay-Z. After a supposed retirement in 2003, the rapper staged a recording comeback three years later with his 11th studio album Kingdom Come. The album fared well with 680,000 copies sold on its first week, topping the US Billboard chart.
Album sales are nothing but a small fraction of Jay-Z's wealth though. In March 2007, the rapper earned $204 million, before taxes, in the sale of his clothing brand Rocawear to the Iconix Brand Group. He will still manage the marketing, licensing, and product development of the label and will pocket another $35 million if the brand performs well for the next three to five years.
The business-savvy rapper also co-owns the franchise of 40/40 Club, an upscale sports bar, as well as a small stake in the NBA team New Jersey Nets. In October 2006, he was named co-brand director for Budweiser Select after his single was featured in an Anheuser Busch ad. He also earns about $13 million annually for the distribution of the Scottish vodka Armadale. His income for 2006 was estimated at $34 million. All in all, Jay-Z's wealth as of 2007 amounted to $547 million dollars.
Sean Combs, now known simply as Diddy after a series of name changes, is the second wealthiest hip hop entertainer although he placed third in the Forbes list of top hip hop earners for 2006. With an estimated net worth of $358 million, Diddy rules over an empire consisting of the record label Bad Boy Records, the Sean John clothing line, the Unforgivable cologne, and two restaurants called Justin's. Forbes placed his earnings for 2006 at $28 million.
Another hip hop millionaire worth an estimated $200 million is 50 Cent. His G-Unit includes a clothing company, a sneakers brand, video games, and a line of fiction. He also owned 10 percent of Glaceau, a line of beverages. When Coca Cola purchased the brand for $4.1 billion, 50 Cent reportedly got $100 million (before taxes). The rapper also owns a condom line and is involved in a number of films. He landed on the number two spot of the Forbes list with a 2006 income of $32 million.
Time magazine once branded hip hop as capitalism with a beat. If so, then these rhyming millionaires are at the helm of it.
Instruments In Hip Hop
From baggy jeans and bling blings to classic gangster-inspired suits and bowler hats, a distinct and evolving fashion style has always been an indispensable element of the hip hop industry. Hip hop fashion traces its roots to the clothing style of African-American youths. Since then it has drawn its influences from hip hop scenes in different parts of the United States, from California to New York, as well as from various elements of underground and popular culture.
One of the earlier clothing styles in hip hop was the sportswear coupled with conspicuous jewelry which became the signature look for old school rap. Tracksuits, bomber jackets, berets, Doc Martens, and sneakers were some of the common apparel then. Men sported gold chains while women wore large gold earrings. The sports apparel of Adidas, Nike, and Le Coq Sportif were some of the commonly patronized brands in the 1980s. The 1990s saw the growing popularity of more sportswear from Tommy Hilfiger, DKNY, Polo, Calvin Klein, and Nautica. This particular fashion style became known as the urban streetwear and was further supplied by such brands as FUBU, Ecko Unlimited, Walker Wear, and Boss Jeans.
The emergence of gangsta rap as a sub-genre of hip hop fueled another fashion statement, this time inspired by the clothing styles of street thugs and prison inmates. Gangsta rappers started wearing baggy pants, bandannas, and tattoos. Not a few conservatives reacted negatively to the sagging pants and low-hanging waistlines. A religious group tried to combat the fashion style by giving out belts while others sought to make it illegal.
Other hip hop personalities opted for the classy gangster look and wore double-breasted suits, bowler hats, silk shirts, and alligator-skin shoes. This Mafioso-inspired image was popularized by the Notorious B.I.G. and Sean Combs a.k.a. Diddy, with the latter becoming known as the Shiny Suit Man.
Recent trends in hip hop apparel show the influence of hipster and preppy styles. Oversized shirts were replaced with tighter-fitting short-sleeved shirts, tracksuits were traded for sports coats, and tighter denims were favored over sagging jeans. Some of the popular accessories are large belt buckles and skull and skeleton ornaments. Decorated hoodies, fitted caps, and trucker hats are also commonly worn.
Heavy jewelry has also become an enduring mark of hip hop fashion, symbolizing an ostentatious display of fame and wealth. Known in hip hop slang as bling bling, these flashy accessories became ubiquitous fashion icons and common semiotic elements in a lot of music videos. Gold jewelry was the craze in the 80s but it was eventually edged out by silver and platinum. Grills or removable metal teeth coverings also became popular among celebrities.
With the development of hip hop fashion, rap artists eventually ventured into the clothing business and started producing their own labels. The rap group Wu-Tang Clan has its Wu-Wear, Damon Dash and Jay-Z have Rocawear, and Diddy has Sean John. Diddy also bagged the 2003 Menswear Designer of the Year Award given by the Council of Fashion Designers of America. Other hip hop personalities with their own clothing lines are Eminem, 50 Cent, Russell Simmons, Kimora Lee Simmons, and OutKast.
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