Diddy ousts Swift to top list

NEW YORK - Rapper turned businessman Diddy was the world's top-paid celebrity in the past year, edging out closest competitor Beyonce, Forbes said in its annual list on Monday.

Diddy earned $130 million in the past 12 months, of which $70 million came from selling a one-third stake in his Sean John clothing line.

Diddy - whose real name is Sean Combs and earlier in his career was known as Puff Daddy - is estimated by Forbes to be worth a total of $820 million even though he has released little music in the past decade.