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Drake No. 11 on Forbes list of highest-earning rappers

Aubrey Graham, also known as Drake, arrives at the BET Awards in Los Angeles on Sunday, June 27, 2010. (AP / Dan Steinberg)
Aubrey Graham, also known as Drake, arrives at the BET Awards in Los Angeles on Sunday, June 27, 2010. (AP / Dan Steinberg)

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Date: Tuesday Aug. 17, 2010 5:19 PM ET

TORONTO — Toronto rapper Drake is already among the world's richest rappers.

According to Forbes Magazine, the 23-year-old -- whose real name is Aubrey Graham -- made US$10 million over the past year to place as the 11th highest-earning hip-hop artist.

The two-time Grammy nominee topped such industry veterans as Eminem, T.I. and 50 Cent. He was also the highest-earning newcomer on the list.

The magazine attributed Drake's earning prowess to his record deal and advertising agreements with Sprite and Virgin America.

His debut, "Thank Me Later," has been certified platinum in Canada and the U.S. since dropping in June.

Jay-Z unsurprisingly topped the list with a $63-million haul, followed by Sean (Diddy) Combs, Akon, Lil Wayne and Dr. Dre.

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