The 'Candy Shop' singer topped the new list, compiled by Forbes.com, after making a staggering $150 million in the last 12 months.

The musician's impressive earnings - mainly down to Coca-Cola buying out his stake in VitaminWater - ensured he shot straight to the top of the rankings, beating former King Jay-Z, who made $82 million.

50, real name Curtis James Jackson III, also owns G-Unit Clothing Company and has teamed up with Right Guard to launch a body spray and a line of condoms. He has also starred in a number of movies, including 'Get Rich or Die Tryin' and 'Home of the Brave'.

Runner-up Jay-Z made his fortune by releasing a platinum-selling album and signing a 10-year deal with concert promoter Live Nation worth a reported $150 million.

Other music stars to feature in Forbes.com's list include P. Diddy, who came third, Kanye West who took the fourth spot and Timbaland, who rounded off the top five.

Forbes.com's Hip-Hop Cash Kings of 2008, full list:

1. Curtis '50 Cent' Jackson
2. Shawn 'Jay-Z' Carter
3. Sean 'P. Diddy' Combs
4. Kanye West
5. Timothy 'Timbaland' Mosley
6. Pharrell Williams
7. Kasseem 'Swizz Beatz' Dean
8. Calvin 'Snoop Dogg' Broadus
9. Andre 'Dr. Dre' Young
10. Christopher 'Ludacris' Bridges

Photo: WireImage.com