Jay-Z has topped a Forbes magazine hip hop rich list, making $37 million (£22m) in the past 12 months.

The rap star claimed his fourth top spot in the last five years.

Diddy finished in second place earning $35m (£21m) with Kanye West, who has collaborated with Jay-Z this year on a joint album called Watch The Throne, making $16m (£10m).

Dr. Dre, Snoop Dogg and Eminem tied for the sixth spot at $14 million (£9m) with Nicki Minaj debuting at 15.

Forbes says top earner Jay-Z made his cash from the end of his world Blueprint 3 tour and other business interests.

The top 20 on the hip hop list earned a combined $271 million (£166m).

Thirteen different artists earned $10 million (£6m) or more, taking home money from live shows, recorded music, endorsements and a other businesses.

Earnings were calculated between May 2010 to May 2011 and based on data from Pollstar, Nielsen SoundScan, the Recording Industry Association of America and individual record labels.

The top 20 Forbes hip hop "Cash Kings" are:

Jay-Z - $37 million (£22m)
Diddy - $35 million (£21m)
Kanye West - $16 million (£10m)
Lil Wayne - $15 million (£9.2m)
Birdman - $15 million
Dr. Dre - $14 million (£8.6m)
Snoop Dogg - $14 million
Eminem - $14 million
Akon - $13 million (£7.9m)
Ludacris - $12 million (£7.3m)
Wiz Khalifa - $11 million (£6.7m)
Drake - $11 million
Pharrell Williams - $10 million (£6.1m)
Timbaland - $7 million (£4.3m)
Swizz Beatz - $6.5 million (£3.9m)
Nicki Minaj - $6.5 million
Rick Ross - $6 million (£3.6m)
50 Cent - $6 million
Pitbull - $6 million
T-Pain - $5 million (£3m)
B.o.B - $5 million
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