Drake makes Forbes list of wealthy hip-hop artists

Canadian rapper Drake is continuing his ascent in the lofty realm of hiphop moguls, squeaking onto Forbes magazine's latest tally of hip-hop's richest acts.

The financial magazine published The Forbes Five: Hip-Hop's Wealthiest Artists on Tuesday.

• Drake expands his empire with new album Views
• 3 views on Drake's highly-anticipated album
• Views: all the Toronto mentions on the new Drake album

Drake is the first newcomer to and sole Canadian onthe list, placing fifth and knocking 50 Cent off his perch.

The full list is:

1. Diddy
2. Dr. Dre
3. Jay Z
4. Birdman
5. Drake

Last fall, Aubrey Drake Grahamplaced third behind Sean (Diddy)Combsand Shawn (Jay Z) Carter on the Forbes Cash Kings list, the financial magazine's tally of the world's highest-paid rap acts.

That previous and today'sachievement stem from touringand from endorsements for Sprite,Nike and Apple.

"That's pretty much my objective every year," Drake told Forbes in 2013, referring to landing on Forbes' lists.

"Other than making good music."

• Drake reveals tracklist for Views
• 2 new Drake songs leak online before being pulled

Drake's new album

8 years ago

Duration 2:06

The Canadian actor-turned-rapper has become a towering force in the world of hip hop

Drake released his latest album,Views, on Friday.

Along with hitting the road to promote it during hisSummer Sixteen Tour, the Toronto rapper is also staging his seventh annual OVO Fest concertin his belovedhometown onJuly 29.

Along with overseeing his OVO-related (October's Very Own)companies including hisrecord label OVO Sound andOVO clothing line he is the global brand ambassador for the TorontoRaptorsbasketball team, opened an exclusive club in the team's Air Canada Centre home stadium,collaboratedwith Canada Goose on winter coats, co-created a Toronto restaurant calledFring'swith celebrity chef SusurLeeand recentlyintroduceda new alcohol brandcalled Virginia Black Decadent American Whiskey.

He's also an investor inthe tech startupOmni, whichhelps users organize and store their own personal items.

According to Forbes, staffers compiletheForbes Five listby "following the same procedures used to calculate our list of the world's billionaires: looking at past earnings, valuing current holdings, leafing through real estate records and talking to analysts, attorneys, managers, venture capitalists and some of the moguls themselves to find the details."