It is a great time to be Drake. The Toronto native has dethroned 50 Cent for a spot on Forbes' 2016 list of the five wealthiest hip-hop artists.

Forbes reports that the Views rapper has a net worth of $60 million. Drake is finding financial success through touring, music sales and high profile deals with Nike, Sprite and Apple. On the other side of the coin, 50 Cent dropped out of the top five due to his bankruptcy case.

While Drake has a net worth that would make most people envious, he is not close to competing with the other names in the top five. Ahead of him is Cash Money Records boss Birdman with a net worth of $110 million. The gap only gets more drastic when it comes to the top three.

Diddy tops this year's list with an astounding $750 million. Dr. Dre is not too far off from the Bad Boy Records founder as his net worth is $710 million. Jay Z rounds things out in the third spot with $610 million. Forbes attributes much of Jay's earnings to the growing success that is Tidal. The streaming service is reportedly worth three times more than that it was originally purchased for last year.

For Drake, this is yet another honor for him in the aftermath of Views' release. The OVO Sound leader recently earned the third No. 2 song of his career when "One Dance" reach that spot on the Billboard Hot 100. Views has been a strong performer too as it moved 740,000 units in the U.S. over a two day period. And over that same time frame, the LP sold more than 80,000 in Canada.

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