Countdown Top 9 Hip Hop Entrepreneurs of 2012: #1 DR. DRE

The purpose of this blog is to inform the class of America’s “Top 9 Hip Hop Entrepreneurs of 2012” and the various business ventures in different industries that contributed to their individual successes.

Countdown Top 9 Hip Hop Entrepreneurs of 2012: #1 DR. DRE

Name: Andre Romelle Young

Stage Name(s): Dr. Dre

Age: 47

Forbes Hip Hop’s Top Earners List: #1 of 9

How Much??? $110 Million

Yes! If you haven’t guessed it already, topping Diddy (last year’s Forbe’s “Cash Kings” chart leader), Jay-Z and Kayne this year, the most successful hip hop entrepreneur of 2012 is Dr. Dre!

What’s really surprising is that compared to the other entrepreneurs who have multiple streams to increase their revenue, Dr. Dre really only had one this year, a source that generated more than double, almost triple, the amount of Diddy’s earnings (#2 on the list)! Now THAT’S impressive if you ask me!

Beats by Dr. Dre

In July 2008, Dr. Dre released his brand of headphones, Beats by Dre, which was made by Monster. Their marketing and PR team did an excellent job advertising and promoting their different headphone products. From sports athletes to artists to brands, Beats by Dre made sure that these influential figures in the society were rocking the company’s personally customized headphones – turning the brand into a must-get fashion accessory.

 Here are some examples of different celebrities rocking Dre headphones:

  1. Great Britian’s 2012 Olympic team customized Beats headphones – Cullen Jones Source:http://allhiphop.files.wordpress.com/2012/08/cullen-jones.jpg
  2. Lebron James.
  3. Lil Wayne with his own line of Beats by Dre Source:http://cdn.theversed.com/wp-content/uploads/2012/09/Lil-Wayne-Beats-By-Dre.jpg
  4. Mr. Beiber got into the action also! Source:http://ryanseacrest.com/wp-content/uploads/2010/12/600-justbeatsjustin-120310.jpg
  5. Katie Holmes even!                                                   Source: http://media.onsugar.com/files/2010/04/14/4/192/1922507/65b4f5af083c695a_Katie.jpg

Hewlett Packard also saw this as a huge opportunity and decided to partner with Dr. Dre to make a new laptop called HP ENVY 15 Beats limited edition this year, which includes Beats Audio inside the laptop and a Beats by Dre headphone on the side. The commercial’s actually pretty hilarious:

It’s evident that Beats by Dre is more than just a headphone; it’s a brand that plays a huge role influencing all parts of the entertainment industry. Thus, recognizing this potential, a Taiwanese electronics company HTC paid $300 million for a 51 percent stake in Dr Dre’s headphones operation last year. Link: http://www.dailymail.co.uk/news/article-2199025/Dr-Dre-built-headphones-empire-paid-110million-year.html

Giving Dr. Dre an enormous payday…pocketing more than $110 million dollars.

And you wonder why the most anticipated album of the decade “Detox” hasn’t been released yet… He was busy making $110 million!!!

Congratulations to Dr. Dre for his successful venture and coming in at #1 most successful and influential hip hop entrepreneur of 2012.

Please tune in again to my final blog, as I give my final thoughts of the entire wrap up the entire journey.

By: Aaron Kim (Duke)

Extra source: http://www.forbes.com/special-report/2012/0905_hip-hop-cash-kings.html

*Sources are provided within the post.

Countdown Top 9 Hip Hop Entrepreneurs of 2012: #2 P. DIDDY

The purpose of this blog is to inform the class of America’s “Top 9 Hip Hop Entrepreneurs of 2012” and the various business ventures in different industries that contributed to their individual successes.

Countdown Top 9 Hip Hop Entrepreneurs of 2012: #2 P. DIDDY

Name: Sean Jean Combs

Stage Name(s): Diddy, P. Diddy, Puff Daddy

Age: 43

Forbes Hip Hop’s Top Earners List: #2 of 9

How Much??? $45 Million

As you can see, as we get closer and closer to #1, the list of business ventures of these hip hop entrepreneurs start to increase exponentially; P. Diddy is no exception.

P. Diddy, the CEO of Bad Boy Worldwide Entertainment Group and last year’s #1 hip hop entrepreneur, again had an very lucrative year in 2012.

In addition to Making the Band MTV shows, here are some of his other business ventures that have been instrumental in building his empire:

  1. Sean John Clothing, own by Christian Casey Group which is owned by Bad Boy. The clothing line created in 1998 and was been has reportedly making $100 million a year with numerous fashion design nominations. In 2011, they made an exclusive contract with Macy’s . Link: http://visionaryartistrymag.com/2011/09/sean-john-tailor-made-success/
  2. Sean John fragrance under Sean Jean Clothing. In 2005, P. Diddy made a joint venture with M.A.C., an Estée Lauder company. Sean John’s fragrance, Unforgivable, reached No. 1 in the U.S. department stores in 2006. The line expanded to Unforgivable Woman and I Am King, which are sold in more than 35 different countries. Links: http://www.elcompanies.com/pages/sean-john.aspx
  3. In 2003-04, Diddy teamed up with Reebok to design Dallas Mavericks’ (NBA team) alternate jerseys. The players still wear this jersey today. Here is the link: http://www.mtv.com/news/articles/1480965/mavericks-tap-p-diddy-design-jerseys.jhtml

  4. In 2007, Diddy and Diageo partnered to manage all branding and marketing initiatives for Ciroc Vodka together. Through this venture, Diddy was in charge of all the brand marketing strategies for Ciroc, while sharing 50 percent share of all profits. Here is the link for this alliance: http://www.nme.com/news/p-diddy/3203
  5. In 2008, Sean Jean buys Enyce clothing line from Liz Claiborne for $20 million. Here is the link: http://www.huffingtonpost.com/liz-black/enyce-sold-to-sean-john_b_136853.html
  6. In 2010, announced to develop a business school for entrepreneurs: http://www.aceshowbiz.com/news/view/w0000842.html (I wouldn’t mind enrolling!)
  7. In 2012 announced deal with Comcast to launch cable music network channel Revolt in 2013. A show targeted for the African-American audiences. He will own the channel outright. Here is the link: http://rapfix.mtv.com/2012/01/24/diddy-next-venture-music-themed-cable-network/

Here is a YouTube clip of the “BLACK JAMES BOND”: . Show’s P. Diddy on a more personal level.

Although some were obviously more profitable than others, I believe every single of these ventures contributed to the diversity and growth of his business portfolio as a businessman – making him the 2nd most successful and influential hip hop entrepreneur of 2012.

“I’m not just a celebrity endorser, I’m a brand builder. I’m a luxury brand builder” – P. Diddy

(Please tune in next time to find out this year’s #1 hip hop entrepreneur! Hint: Our #1 mainly invested in just one venture that proved to be very, very rewarding.)

By: Aaron Kim (Duke)

*Exra sources:

http://www.blackentrepreneurprofile.com/profile-full/archive/2012/february/article/sean-combs/

http://www.forbes.com/special-report/2012/0905_hip-hop-cash-kings.html

Other sources are provided within the post.

Countdown Top 9 Hip Hop Entrepreneurs of 2012: #3 JAY-Z

 

The purpose of this blog is to inform the class of America’s “Top 9 Hip Hop Entrepreneurs of 2012” and the various business ventures in different industries that contributed to their individual successes.

Countdown Top 9 Hip Hop Entrepreneurs of 2012: #3 JAY-Z

Name: Sean Corey Carter

Stage Name(s): Jay-Z

Age: 42

Forbes Hip Hop’s Top Earners List: #3 of 9

How Much??? $38 Million

WE FINALLY REACHED OUR TOP 3!!!

Ok, moving on.

Jay-Z.  I’m pretty sure we all know what he’s been up to as a musician/CEO of Roc-Nation, but do we (really) know what he’s been up to lately as an entrepreneur? I took some time to research his recent ventures, and let’s just say, this man is ALL business. It’s amazing how he’s constantly involved in large projects that end up being lucrative beyond belief; he should literally be on the cover of Forbe’s magazine on every single issue!

Here are some RECENT business ventures he’s been on the past couple years:

  1. In 2003, Jay-Z first opened his 40-40 restaurant & bar night club chain. He has one in New York City, Atlantic City and now in Barclay’s Center (2012), where the new Brooklyn Net’s basketball team play. Link to the new 40-40 location in Brooklyn: http://www.mtv.com/news/articles/1694595/jay-z-welcomes-rihanna-j-cole-new-40-40-club-barclays.jhtml
  2. In April 2012, Jay-Z’s clothing company, Rocawear, landed a partnership deal with the New York Yankees. Here in the link: http://www.vibe.com/article/rocawear-announces-partnership-ny-yankees
  3. Jay-Z plans to open another 40-40 restaurant and bar chain in London, partnering up with famous footballer Ashley Cole. Link: http://www.reuters.com/article/2011/07/05/us-jayz-ashleycole-idUSTRE76434720110705
  4. In June 2012, Jay-Z invested in Duracell Powermat – Proctor and Gamble’s Duracell brand and Powermat Technologies partnered together to create wireless mats that charge smartphones and other electronics by just laying them on these mats. Here is the link to Duracell’s Powermat commerical where “B” aka Beyonce is calling Jay-Z in the commerical: Here is the link to the venture: http://www.xxlmag.com/news/2012/06/jay-z-teams-up-with-duracell-and-powermat-for-wireless-power-nation-venture/
  5. In April 2012, Jay-Z joined forces with Will Smith to invest in Viddy, a new app similar to instagram, let’s iPhone users create short videos for friends. Here is the link to the venture between the two: http://uptownmagazine.com/2012/04/will-smith-jay-z-join-forces-for-latest-business-venture/. Will Smith and Jay-Z also made previous venture together a year ago involving Will’s daughter, Willow Smith, who is signed under Roc-Nation (Jay-Z’s label), to make a movie called “Annie.” Here is the link: http://hiphopwired.com/2011/01/26/jay-z-and-will-smith-start-movie-venture/
  6. Put out his second book, “Empire State of Mind: Jay-Z’s Journey from Street Corner to Corner Office” in 2011. http://www.amazon.com/Empire-State-Mind-Street-Corner/dp/1591845408
  7. Part ownership of the Brooklyn Nets (help relocate and build a new stadium in Brooklyn). Rumor has it that he only owns 1/15th of 1% (about 0.067%) of the New Jersey Nets, but he will be earning millions from it. Inside Barclay’s Center includes Jay-Z’s 40-40 restaurant, a Rocawear store and many other interesting arrangements that cater to Jay-Z’s interests, not to mention, eight sold out concerts in the arena. Here is the link for more information:http://www.businessinsider.com/jay-z-brooklyn-nets-power-2012-8
  8. In 2012, Jay-Z executive produces NBA 2K13, basketball video game from 2K Sports. More specifically, he oversaw the soundtrack of the game. Here is the trailer for the video game:
  9. In 2008, Live Nation made a 360-degree deal contract for $150 million with Jay-Z for the next decade. Here is the link: http://www.mtv.com/news/articles/1584696/jay-z-sign-150-million-live-nation-deal-report.jhtml (This is more old news, but I couldn’t leave it out because we’ve been talking about it a lot in our classes.)

Here is a link to an awesome video I found that wraps up Jay-Z’s business ventures in six minutes: Jay-Z’s Successes and Failures Video in 6 Minutes!

Oh, and it doesn’t hurt to have a wife that makes a ridiculous amount annually also. Beyoncé and Jay-Z together is the highest paid star couple of 2012. Here is the link to the exact amounts they both earned the past year: http://marquee.blogs.cnn.com/2012/08/09/beyonce-jay-z-worlds-highest-paid-star-couple/

As you can see, Jay-Z’s not going anywhere. I am really interested to see which industry Jay-Z decides to dominate next.

“I’m not a businessman, I’m a business, man!” Jay-Z

Jay-Z is the 3rd most successful and influential hip hop entrepreneur of 2012.

(We’re so close! Please stay tuned, and let’s count down to #1 together!)

By: Aaron Kim (Duke)

Extra sources: http://www.forbes.com/special-report/2012/0905_hip-hop-cash-kings.html

*Sources are provided within the post.

Countdown Top 9 Hip Hop Entrepreneurs of 2012: #6 DRAKE (RE-UPLOADED!)

NOTE: I apologize for this blog being out of order (accidentally skipped from #7 to #5). I just realized for some reason #6 was not uploaded/deleted. I’m sorry for the inconvenience!

The purpose of this blog is to inform the class of America’s “Top 9 Hip Hop Entrepreneurs of 2012” and the various business ventures in different industries that contributed to their individual successes.

(RE-UPLOADED!) Countdown Top 9 Hip Hop Entrepreneurs of 2012: #6 DRAKE

Name: Aubrey Drake Graham

Stage Name(s): Drake

Age: 26

Forbes Hip Hop’s Top Earners List: #6 of 9

How Much??? $20.5 Million

Drake is a very unique case. Unlike the other artists who ventured out into other industries to increase their revenue streams, he earned most of his income purely through touring and selling records in the music industry this year.

The few endeavors outside of the music industry:

  1. Sprite endorsement. Sprite wanted to have a campaign where teens had a platform where they can express their creativity through music and film and chose Drake to be the face of the “The Spark” project:  http://www.billboard.com/news/drake-teams-with-sprite-for-spark-campaign-1004067025.story#/news/drake-teams-with-sprite-for-spark-campaign-1004067025.story
  2. Kodak sponsorship deal with Drake with “Drake So Kodak” campaigns to sell their new camera product. Here is a clip of a “personal” commercial directly to his fans:
  3. Featured on NBA 2K12 video game commercial by 2K Sports (he was actually featured on the soundtrack for NBA 2K11). Here is the link to the commercial: . He actually reps the Miami Heat, which I’m not very fond of (Lakers!).

But the main source of his income comes from touring. More specifically, his Club Paradise tour, which was the most successful hip hop tour of 2012, grossed over $42 million dollars. It consisted of 60 shows all over the North America and Europe. Link: http://thatgrapejuice.net/2012/07/winning-drakes-club-paradise-tour-pulls-42-million-worldwide/

In addition to his touring success, his 2011 CD album “Take Care” was the 9th  most sold albums in 2012 according to Neilson (http://www.hiphopdx.com/index/news/id.20336/title.drakes-take-care-in-the-top-10-most-sold-albums-of-2012), selling over 500,000 copies mid year of 2012.

It’s always great to see an artist profiting from music-related sales, especially in this digital age/pirating music industry.

Drake is the 6th most influential and successful hip hop entrepreneur in 2012.

(#5 and #4 have been uploaded already! Thank you for tuning in!)

 By: Aaron Kim (Duke)

Other sources: http://www.forbes.com/special-report/2012/0905_hip-hop-cash-kings.html

*Sources are provided within the post.