The ‘One Mic’ rapper is also among the highest-paid in his genre for the first time in his career.
Nas is ranked $35 million in the year under review to land the number six spot on the list.
He made his money from stakes in Silicon Valley companies; Lyft and Coinbase as well as online media platforms; Genius and Mass Appeal.
Nas also has an investment in doorbell startup Ring, which was sold to Amazon for $1.1 billion in February.
The rapper also recorded earnings from his latest album released in July.
Jay-Z displaced Diddy atop the list, pulling in an estimated $76.5 million from his ‘4:44’ album, ‘Everything Is Love’ collaboration album with wife Beyonce and their On The Run II tour.
Diddy, who was the king of the rich list for three straight years, slips to the second spot with $64 million from his stake in Ciroc vodka, DeLeon tequila and Aquahydrate alkaline water.
Kendrick Lamar is second with earnings of $58 million from his tours and deals with Nike and American Express.
Drake came in at No. 4 with $47 million while Dr. Dre is No. 5 after earning $35 million.
In compiling the list, Forbes tracks pretax annual income from touring, record sales, streaming, publishing, merchandise sales, endorsements and other business ventures.
Earnings are calculated from June 2017 to June 2018.
No female hip hop artiste made the list.