Forbes announced Thursday on its site that the king of cash in hip-hop is the multitalented Jay-Z, real name Shawn Carter, besting worthy entrepreneurs such as Diddy, Eminem and Timbaland.

Jay-Z is an all-round accomplished musician and businessman and he’s happy in love as well, what with his long-term relationship with fellow musician Beyonce. Forbes announced Thursday that the 37-year-old is number one on the site's list of “Hip-Hop Cash Kings,” with an impressive $34 million income in 2006 alone.

Jay-Z released his 11th studio album, “Kingdom Come,” in late 2006 and proudly watched it sell 2 million copies within months. The hip-hop mogul is also the current president and CEO of Def Jam and Roc-A-Fella Records, as well as co-owner of the New Jersey Nets NBA team.

Among his most recent musical successes is “Umbrella,” Rihanna’s first single from her new album “Good Girl Gone Bad,” featuring Jay-Z, which has been at the top of the charts for a record-breaking number of weeks.

Second to Jay-Z in Forbes’ list of “hip-hop cash kings” is Curtis “50 Cent” Jackson, with an estimated $32 million. The 31-year-old rapper, who survived a drive-by shooting spree seven years ago, has sold more than 11 million albums and has founded his own record label, G Unit.

In addition, 50 Cent has dabbled in acting (“Get Rich or Die Tryin'” and “Home of the Brave”) and has his own line of clothing. The rapper has scheduled the release of his new album “Curtis” in mid-September.

Diddy, once known as Puff Daddy, real name Sean Combs, ranked number three, with an estimated $28 million income in 2006. At 37, Diddy is no stranger to the diversity of hip-hop entrepreneurship: he has his own clothing line, Sean John, and is the president of the Bad Boy Records record label.

Diddy is also the producer and host of MTV's “Making the Band” series.

Following these three major cash kings are Timbaland with $21 million, Dr. Dre with $20 million and Eminem ($18 million).

Rounding up Forbes’ list of “hip-hopreneurs” are Snoop Dogg, Kanye West, Pharrell Williams and Scott Storch (each with $17 million), Ludacris and T.I. (each with $16 million), Outkast and Lil Jon ($14 million), Ice Cube ($13 million), Jermaine Dupri and Swizz Beatz ($12 million), Chamillionaire and The Game ($11 million), and Young Joc ($10 million).