Not only did the veteran rap titan see his highly anticipated Watch The Throne album debut at #1 on Itunes this week, but come to find out, so did he! Yesterday afternoon, Forbes released their annual Cash Kings list, and the Rocnation CEO beat out all other competitors by earning a staggering $37 million over the past 12 months - -making him Hip Hop’s #1 Cash King of 2011. ( Beyonce should be very proud - - - this is the fourth straight year her hubby’s accomplished this feat.)

Hip Hop’s most prominent Bad Boy, Sean “Diddy” Combs, came in a close second with $35 million, with the second half of Hip Hop’s Throne, Kanye West, rounding out the top three with $16 million.

Lil Wayne and his surrogate father, Birdman, share fourth place with an impressive $14 million piece.

Notable newbies on this year’s list are B.o.B., Wiz Khalifa, Pitbull, and Nicki Minaj, who became the first female EVER to earn a highly coveted spot among Forbes annual ranking of Hip Hop’s highest paid ballers.

Check out the list in it’s entirety below.

Cash Kings 2011: Hip-Hop’s Top 20 Earners

1. Jay-Z – $37 million
2. Diddy – $35 million
3. Kanye West – $16 million
4. Lil Wayne (tie) – $15 million
4. Birdman (tie) – $15 million
6. Eminem (tie) – $14 million
6. Dr. Dre (tie) – $14 million
6. Snoop Dogg (tie) – $14 million
9. Akon – $13 million
10. Ludacris – $12 million
11. Wiz Khalifa (tie) – $11 million
11. Drake (tie) – $11 million
13. Pharrell Williams – $10 million
14. Timbaland – $7 million
15. Swizz Beatz (tie) – $6.5 million
15. Nicki Minaj (tie) – $6.5 million
17. Rick Ross (tie) – $6 million
17. 50 Cent (tie) – $6 million
17. Pitbull (tie) – $6 million
20. T-Pain (tie) – $5 million
20. B.o.B (tie) – $5 million

Pitbull made $6 million last year? (Who would’ve guessed lol.) Good for him.

Thoughts??