Touring: $0.7 million
Recording: $12.7 million
Publishing: $0.7 million
Other: $8.4 million
Net: $22.7 million
2002 rank: 46 - $9.3 million
This year, Jay-Z and his partner in Roc-A-Fella Records, Damon Dash, found themselves sitting on a renewal deal with Lyor Cohen, president of Island Def Jam, that they could have used to force a buyout of their half of the label. That could have brought the label close to a market value of $100 million. But they decided to bet on the future instead, taking an advance of $24 million against earnings and adding three more years to the buyout date. Now Jay-Z has a chance to bring the value of Roc-A-Fella closer to the $240 million Cohen and Russell Simmons got when they sold Def Jam to Universal in 1996. For the time being, Jay-Z himself pocketed $15 million as an advance against future artist royalties and added another couple of million from publishing, touring and his one-third cut of the profits from the Rocawear clothing line. His 2003 may be even bigger: Jay has signed his first endorsement deals, with Reebok, which will release a sneaker that bears his name, and Heineken. He'll also have money coming in from his Showtime concert special, and if that's not enough, he now owns the U.S. distribution rights to Armadale vodka. Drink up.