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Panache frames the money shot · by Rafi Kam
The Hip-Hop Media is crazy Gullible
I meant to address this a while ago but it’s been a busy month.
A few weeks ago some site called the um Panache Report did their annual list of the richest people in hip-hop. Next thing you know it’s being reported all over the web.
Damn, I thought we were good at making up fake news items. We’re chumps compared to this Panache character…
So how do you not see through this, fellow bloggers and magazine sites?
On a web page that screams “don’t trust me!” by looking like every personal webpage I saw in my college computer lab in 1997.
Look at it: all the text on the page is italicized and fills up the whole width of your gray screen, the pictures just kind of floating there. This looks like a reputable professional operation to you?
Looks aren’t everything though.. lets examine the text.
“In publishing, the winner of the ‘Panache Report’ Richest Person in Hip-Hop contest is presented with a plague (starting this year) handcrafted in Dubai with a cherry wood finish on blue marble and idyllic solid gold print proclaiming the winner of the ‘Richest Person In Hip-Hop’ for 2006.”
They’re presenting them with a plague! Falling frogs, perhaps? Pestilence? What kind of serious research article calls itself a contest? Then you realize there is no explanation of what kind of “extensive research” was done here.
It gets worse…
Once again, rap moguls Jay-Z (last year’s winner) and P. Diddy were in a dead heat. Thanks to the sell of ‘Bad Boy’ records to Warner Music Group and revenue from the ‘Sean Jean’ clothing line, Diddy grossed $25 million for 2005/2006 thus far.Jay-Z grossed $20 million thus far for 2005/2006. Revenue was generated from his stake in the New Jersey Nets, Armadale vodka, his 40/40 night-club chain and the $3 million he makes in salary for his presidential duties at ‘Def Jam,’ Records.
The tiebreaker and deciding factor was Diddy’s “Unforgivable” men’s cologne, which is the top selling fragrance since its release in February. ‘Unforgivable,’ is averaging sales between $1.3 million and $1.5 million per week which is unheard of; successful fragrances typically sell $650,000 per week.
Diddy has received an additional $6 million this year, generated from the sales of his cologne, bringing his overall wealth total to: $346 million. Jay-Z’s overall wealth total for 2006; is: $340 million.
Are you shitting me? Have you ever read such ignorant crap in a real business publication’s list of wealthiest people? First of all, wouldn’t sales totals be less relevant than profit totals. Diddy may be investing heavily on marketing. Second, is doing double the sales numbers of a typical successful fragrance really that “unheard of” ?
Interesting how they know Diddy’s exact cut of the cologne sales from this year while the year is still going. But the part that gets me the most is the way it’s written suggesting that it’s this exact $6 million from cologne sales that breaks the dead heat. As opposed to any other $6 million from the alleged $346 million.
I think it’s clear that this whole list is pure out of leftfield speculation. Damon Dash is running right behind Russell Simmons! Will Smith we are told is left off the list because he’s more of an actor but there’s Ice Cube on it!
When you’ve got panache, anything goes!
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