Nicki Minaj has been named the highest earning woman in hip-hop.

The 28-year-old rapper was the only female to be placed in Forbes magazine's top 20 highest hip-hop earners.

Music mogul Jay-Z topped the list as the industry's highest earning star.

Following close behind was P Diddy, with Kanye West, who recently joined forces with Jay-Z to release album Watch The Throne, in third.

Nicki was placed joint 15th on the list with rapper Swizz Beatz with both estimated to have earned  £4 million in the last year.

Jay-Z's earnings in the last 12 months were said to be £22.7 million.

That figure is thanks in part to a 10 year deal with Live Nation worth £92 million, stakes in the New Jersey Nets basketball team and his 40/40 Club chain.

This year is the first time since 2008 that Jay-Z has earned more than his wife Beyonce. 

Also in the top 20 were Eminem, Akon, Ludacris, Pharrell Williams, Timbaland and 50 Cent.

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