Forbes recently released its highly anticipated top 100 list of the highest-paid celebrities in the world, with a number of changes to the 2016 version.

In 2016, pop sensation Taylor Swift was at the top of her game and was revealed as the highest-paid celebrity of that year. But now a not-so-new force has climbed to the top, with Swift falling to 49th place.

Diddy, formerly known as Puff Daddy, is the highest-paid celebrity of 2017, with estimated earnings of $130 million (R1,67 billion) over the past 12 months. Lemonade star Beyoncé made a huge jump from 49th spot in 2016 to second spot on this year’s list. The singer earned an estimated $105 million (R1,34 billion) over the past year. Much of her earnings came from Lemonade and her Formation World Tour.

READ MORE:  Top five wealthiest hip-hop artists of 2017

Beyoncé is followed by author JK Rowling in third spot with estimated earnings of $95 million (R1,21 billion). Rapper Drake earned an estimated $94 million (R1,2 billion) and the top five is completed by football star Cristiano Ronaldo – the highest-earning athlete of 2017 – with estimated earnings of $93 million (R1,19 million).

Diddy has a water-tight, long-standing deal with Diageo’s Cîroc Vodka. This, together with other revenue streams, including alkaline water company Aquahydrate, the significant stake he has in TV network Revolt and DeLeon Tequila, an alcohol brand which Diddy acquired together with Diageo, are part of what has made him the highest-paid celebrity of this year.

But what has really pushed the rapper all the way to the top was the Global Brands Group buying a majority stake in his Sean John brand in November last year for a whopping $70 million (R895 million). It’s been reported that Diddy still holds a 20% stake in the business.

READ MORE: A degree for P Diddy

Diddy is the richest musician in the USA with a net worth of $820 million (R10,49 billion) and he is closing in on becoming hip-hop’s first dollar-billionaire.

In an interview with Forbes, Diddy shared some entrepreneurial advice. Here are a few of his quotes :

  • “Always know what you’re getting yourself into, know how hard it’s going to be, how competitive it’s going to be.”
  • “The sooner you make the decision [about what you want to do], the better it will be for your life, and the better chances of success you’ll have. Because you’ll have more time to mess up and you’ll have more time to fall down. “
  • “No matter what, it could’ve been the times of Jesus, before Jesus, caveman times. It was about being around information. Back in caveman times, it was about: ‘Who knows how to make a fire? Because my ass is cold!'”
  • “A degree means something to me, but experience kind of means more. A point-of-view of where people want to go means more than somebody saying: ‘I have a Masters from Harvard.'”
  • This was Diddy’s answer to a question about the type of people he hires: “Not just doing it as a job, they’re doing it as a part of their life. And they’re also doing it for a higher purpose. Just bigger than them. They really want to make whatever they’re involved in affect people in a positive way.”

Additional source: Forbes