Music News: Jay-Z Tops Forbes’ List

Forbes‘ annual list of Hip-Hop’s Cash Kings for this year has been unveiled, and it witnesses music mogul Jay-Z on the very top spot. Over the past 12 months, between June 2008 and June 2009, he has been pulling in an estimated $35 million, an amount which is $47 million less than his earnings in 2008.

Last year’s winner, 50 Cent, drops to the 4th place. He is reported taking in $20 million, down from $150 million a year ago. The earnings are said coming from his Vitamin Water deal, G-Unit clothing line and numerous licensing deals.

In between Jay-Z and 50 there are P. Diddy and Kanye West, who secure the 2nd and 3rd slots respectively. P. Diddy rakes in $30 million over the past year from his expanding business that includes a brand of premium vodka and his Sean John clothing line. Kanye, meanwhile, earns a total of $25 million, thanks to his multi-platinum album “808’s & Heartbreak” and his sold-out Glow in the Dark Tour.

“Despite the economy, hip-hop is just as powerful as it’s ever been in the endorsement and licensing world,” says Ryan Schinman, chief of Platinum Rye, the world’s largest buyer of music and talent for corporations when commenting on Forbes’ Hip-Hop’s Cash Kings 2009 list. “Tween stars and rock legends are very reliable, but the impact of hip-hop on pop-culture and fashion continues to lead the charge.”

The music mogul’s earnings over the past 12 months, between June 2008 and June 2009, are listed as much as 35 million dollars.

Source: Via AceShowbiz.com

Just In: Joe Jackson Says Michael’s Kids Have Bright Futures

The elder Jackson praises Michael‘s daughter Paris, saying that he believes the young girl wants to do something in Hollywood show business.

On Friday, July 10, Joe Jackson had an interview on ABC’s “Good Morning America,” during when he expressed his strong belief that Michael Jackson‘s children could have bright futures should they try their hands in showbiz. The elder Jackson especially made a reference to Paris Michael Katherine Jackson, who delivered a touching eulogy during Michael‘s memorial service earlier this week.

“I don’t know – I keep watching Paris,” he said in a statement, before then adding, “She … wants to do something.” Joe, moreover, also has his eyes on Prince Michael Jackson II a.k.a. Blanket, revealing “As far as I can see, well, they say Blanket, he can really dance. That’s what they’re saying. He can really dance.” Joe, however, made no mention of Michael‘s eldest son, Prince Michael Jackson Jr.

On the same interview, Joe was asked about whom he thinks should get the custody of Michael‘s children, and his response was, “The grandmother, Katherine, and I. There’s no one else to do what we can do for them. We should keep them all together and make them happy. And feed them like they’re supposed to be fed. And let them get rest … and grow up to be strong Jacksons.”

Since Michael‘s sudden death on June 25, his mother Katherine Jackson remains the children’s temporary legal guardian. Custody of Prince Michael Jackson Jr., Paris Michael Katherine Jackson, and Prince Michael Jackson II will be determined on a court hearing scheduled for July 20.

Source: AceShowbiz.com