It’s that time of the year for Forbes to name Hip Hop’s wealthiest artists and once again Diddy is leading the pack with an estimated net worth of $700 million, which is an increase of $120 million over his net worth last year.

View the Forbes Five for 2014 below.

1. Diddy – $700 million

Diddy leads the pack with an estimated fortune of $700 million, an increase of $120 million over his net worth last year. The change comes largely from the addition of Revolt TV—the new, music-focused, multi-platform channel of which he’s the majority owner—to his already-hefty portfolio.

2. Dr. Dre – $550 million

[Dr. Dre leapfrogged Jay-Z] on this year’s Forbes Five thanks to a large stake in Beats By Dr. Dre, which he cofounded with Interscope chief Jimmy Iovine in 2008. The company controls an astounding two-thirds of the premium headphone market, with annual sales reportedly in excess of $1 billion and growing. Private equity firm Carlyle invested $500 million for a minority stake last year, pushing Beats’ value past $1 billion and likely closer to $2 billion.

3. Jay-Z – $520 million

Jay Z’s fortune continues to grow at a healthy clip, too. He’s made multiple nine-figure deals in the past, including his $204 million Rocawear sale in 2007 and his $150 million pact with Live Nation in 2008. But much of his recent growth comes from Roc Nation, his record label and management firm that recently added a sports agency. The outfit gets a single-digit cut of pacts like Robinson Cano’s $240 million monster agreement.

4. Birdman – $160 million

Bryan “Birdman” Williams, whose net worth would be over $300 million if he didn’t share his fortune with brother Ronald “Slim” Williams. The duo cofounded Cash Money Records two decades ago; Cash Money continues to grow with a roster that includes Drake, Nicki Minaj and Lil Wayne. Birdman has also diversified with Cash Money Content, GT Vodka and the YMCMB clothing line.

5. 50 Cent – $140 million

Rounding out the list is 50 Cent, who owes most of his fortune to his $100 million haul from the sale of Vitaminwater in 2007. Now he’s trying to repeat the feat with companies like SMS Audio and SK Energy beverages. In the meantime, he’ll reboot his music career by taking his G-Unit Records independent and releasing new album Animal Ambition in June.

Check out Forbes’ video report on “Hip-Hop’s Wealthiest Artists 2014″: