The music mogul came in first with $50 million worth of earnings in the past year. Diddy's money comes from various ventures, including his Bad Boy record label, Sean John clothing line and Cîroc vodka endorsement deal.
Coming in behind Diddy in second place is Jay Z, who raked in $43 million in the last year from his music sales, Roc Nation record label and various liquors.
Jay and wife Beyoncé also recently topped Forbes' list of Highest-Earning Celeb Couples with a combined annual earning of $95 million (yikes!).
Last year's cash king Dr. Dre fell to third place this year with $40 million, followed by the only lady on the list, Nicki Minaj! Thanks to music, touring, fragrances and various endorsement deals with companies like M.A.C and Pepsi, the Pink Friday rapper garnered $29 million last year.
Fifth place on the list goes to Birdman ($21 million), followed by Kanye West at sixth ($20 million), Lil Wayne at seventh ($16 million), Wiz Khalifa at eighth ($14 million), Ludacris at ninth ($12 million) and Pitbull at tenth ($11 million).