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Forbes has released the 2011 edition of their annual list of the biggest earners in hip-hop. Diddy is ranked second for the second year in a row, earning an estimated $35 million - a gain of $5 million from the previous year.

Jay-Z took the top spot with $37 million, having earned $68 million on the 2010 list. Following Diddy are Kanye West with $16 million, Lil' Wayne and Birdman with $15 million and Eminem, Snoop Dogg and Dr. Dre with $14 million. 50 Cent earned $6 million.

In March, Forbes crowned Diddy as the wealthiest hip-hop artist with a total net worth of $475 million.

While some artists have fluctuated, Diddy and Jay-Z have been the model of consistency, when it comes to how they have ranked on the Forbes Cash Kings list, now in it's fifth year. Here are the top 5 artists from each year:

2007: 1. Jay-Z ($34 million), 2. 50 Cent ($32 million), 3. Diddy ($28 million), 4. Timbaland ($21 million) and 5. Dr. Dre ($20 million).

2008: 1. 50 Cent ($150 million), 2. Jay-Z ($82 million), 3. Diddy ($35 million), 4. Kanye West ($30 million) and 5. Timbaland ($22 million).

2009: 1. Jay-Z ($35 million), 2. Diddy ($30 million), 3. Kanye West ($25 million), 4. 50 Cent and Akon (tied, $20 million).

2010: 1. Jay-Z ($63 million), 2. Diddy ($30 million), 3. Akon ($21 million), 4. Lil' Wayne ($20 million) and 5. Dr. Dre ($17 million).

2011: 1. Jay-Z ($37 million), 2. Diddy ($35 million), 3. Kanye West ($16 million), 4. Lil' Wayne and Birdman (tied, $15 million).