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Jay-Z has topped a list of the world's richest rappers, beating Sean 'Diddy' Combs in a list from US magazine Forbes.

The Empire State Of Mind rapper made $63 million (£40 million) in personal income between June 2009 and June 2010.

Diddy made less than half that with $30 million (£19 million).

Akon came third followed by Lil Wayne and Dr Dre.

Jay-Z's income was no doubt boosted by the release of his album The Blueprint III and a number of high profile live gigs including headline slots at Isle Of Wight and Wireless in the UK.

Lil Wayne - real name Dwayne Carter - still managed to earn $20 (£13 million) despite beginning a jail sentence in March for weapons charges.

Forbes noted that all the highest earning names on the list had "diverse" business interests outside of music - including alcohol sponsorships, clothing lines and film appearances.

Perhaps most surprisingly Eminem came joint 14th in the list despite his most recent album Recovery selling 741,000 copies in its first week.

The Detroit rapper earned $8 million (£5 million).

Zack O'Malley Greenburg, the writer who compiled the list, said: "It's pretty shocking to see him so low down on the list. Compared to his peers, he doesn't really do much outside of music."