10) L.A. Reid (Net Worth: $300 Million)

L.A. Reid is a record producer, musician, record executive and song writer. He has been one of the biggest names in the music business for decades. Reid has also served as a judge on the singing competition The X Factor. He is the chairman and CEO of Epic Records, a division of Sony Music Entertainment. He is also the president and CEO of Atlanta-based Hitco Music Publishing.

9) Russell Simmons (Net Worth: $325 Million)

American business tycoon Russell Simmons is one of the founders of Def Jam Records. He is the creator of clothing fashion lines Argyleculture, Phat Farm and American Classics. He is a majority shareholder of the website Global Grind. The hip-hop pioneer discovered artists like LL Cool J, the Beastie Boys, and Run-D.M.C. His movie production house has produced such films as Krush Groove and The Nutty Professor. In 1999, he sold his shares in Def Jam Records to Universal Music Group for a reported $100 million and sold the Phat Farm clothing line for $140 million in 2004.