Jay-Z reached No. 1 on the list with $76.5 million earned over the last year from his 13th studio album 4:44, first joint album with wife Beyonce titled Everything Is Love and an accompanying stadium tour with Beyonce.
In second place is Combs with $64 million after the rap mogul dominated the list for three consecutive years. Combs continues to earn millions from his various business ventures with Ciroc vodka, DeLeon tequila and Aquahydrate.
Kendrick Lamar comes in third place with a career-best $58 million. Lamar has been performing inside arenas worldwide the past year and has deals with Nike and American Express.
The rest of the Top 10 include in order Drake with $47 million, J. Cole with $35.5 million, Dr. Dre and Nas tied with $35 million, Pitbull with $32 million, Future with $30 million and Kanye West with $27.5 million.
Jay-Z reached the top spot on Forbes list of the wealthiest hip-hop artists in March with a net-worth up to $900 million.