The ultimate status symbol, a rapper's car isn't just a means to get around–it's proof of his prosperity.
True enough, the 20 members of Forbes' debut list of Hip-Hop Cash Kings, whose combined 2006 earnings neared $350 million, own some of the rarest, most expensive rides on the planet.
Jay-Z, with earnings of $34 million in 2006, is a noted Mercedes-Benz buff. In his hit 1999 single “Big Pimpin',” he declared, “If I wasn't rappin' baby, I would still be ridin' Mercedes/Chromin', shinin', sippin'…”.
True to his word, the president of Def Jam Recordings is often chauffeured around his native New York in his Maybach, which sells for over $300,000. Last year, Jay-Z even featured the Maybach Exelero, a one-off concept car, in his video for “Lost Ones.”
Hot Wheels
Though such luxury vehicles are off-limits to most, they are nonetheless an essential component of the merchandising of hip-hop.
“A lot of what they're selling is about aspiration,” says Michael Chatman, president of Seven Figures, a Miami-based consulting firm that specializes in multicultural marketing. “If the average consumer sees Jay-Z in a Maybach, they aren't going to run out and buy one, but if they see him riding in a Maybach and wearing Rocawear, they might go out and buy some of those ancillary products.”
But Jay-Z's relationship with Mercedes isn't exclusive. Last September, he reportedly bought his pop-superstar girlfriend Beyoncé a 1959 Rolls-Royce convertible, said to be worth $1 million, for her 25th birthday. That's more expensive than the limited-edition Rolls-Royce Phantom, owned by Sean “Diddy” Combs, estimated to cost $370,000. Owned by BMW, Rolls-Royce builds just 800 Phantoms a year. No word on whether Combs splurged for the $4,500 cigar humidor option.
Pharrell Williams is the proud owner of a rare Ferrari Enzo (estimated cost: $652,000), designed using Formula 1 racing technology and capable of topping 60 miles per hour in just over three seconds. That's comparable to how fast Busta Rhymes could rev up his $330,000 Lamborghini Murcielago Roadster. Lamborghini makes only 200 or so a year; 50 Cent owns a Murcielago too. He and his silver supercar made headlines and countless video blogs last year when police pulled him over in New York City for an illegal lane-change.
Producer Scott Storch lays claim to owning what has been dubbed the most powerful and most expensive car on earth. Only 60 Bugatti Veyrons, which sell for about $1.5 million apiece, were manufactured last year.
Is it worth it? After a test drive, one reviewer declared its performance, “Utterly, stunningly, jaw-droppingly brilliant.”
