(Cover) - EN Showbiz - Jay-Z has topped the Forbes list of richest rappers with an income of $37 million in the past year.

The 41-year-old star pulled in his money from his Blueprint 3 tour as well as a variety of business interests including books and merchandise deals.

Beyonc's husband, real name Shawn Carter, has been at the top of the coveted financial magazine's listing in the past five years.

P Diddy, real name Sean Combs, came in second place just behind Jay-Z with an income of $35 million in the past 12 months.

Kanye West charted at No. 3 with $16 million. The American artist has just released his Watch The Throne collaboration with Jay-Z. The pair are set to go on a concert tour together later this year.

Lil Wayne and Birdman came in joint fourth place raking in $15 million, while Dr. Dre, Snoop Dogg and Eminem were tied at No. 5 with $14 million in earnings.

The top 20 artists made a combined $271 million in the past year.

Meanwhile, TMZ are reporting that Jay-Z and Kanye along with Usher, Chris Brown, Justin Bieber and Christina Aguilera have all been invited to perform at a tribute concert for Michael Jackson in Wales in October.

They are said to have been personally invited by Michael's mother Katherine.

1. Jay-Z: $37 million

2. Diddy: $35 million

3. Kanye West: $16 million

4. Lil Wayne: $15 million

4. Bryan "Birdman" Williams: $15 million

6. Eminem: $14 million

6. Snoop Dogg: $14 million

6. Dr. Dre: $14 million

9. Akon: $13 million

10. Ludacris: $12 million

11. Wiz Khalifa: $11 million

11. Drake: $11 million

13: Pharrell Williams: $10 million

14. Timbaland: $7 million

15. Swizz Beatz: $6.5 million

15. Nicki Minaj: $6.5 million

17. Rick Ross: $6 million

17. 50 Cent: $6 million

17. Pitbull: $6 million

20. T-Pain: $5 million

20. B.o.B: $5 million (C) Cover Media