p hop and the billion dollar rap jackpot")
             Moguls such as Russell Simmons, Sean "P Diddy" Combs, Percy Miller (Master P), and many others collaborate to form this "Council of Tycoons".  These members of an elite society have paved the way for many of the artist, and entertainers in the hip hop family. In Tariq Muhammad's article "Hip Hop Moguls: Beyond the Hype", he gives the names of today's moguls. In his text he writes, "In the twenty years since rap music swaggered forth from the block parties and basement jams of the Bronx, it has made the transition from fad to cultural phenomenon. In fact, hip-hop culture has become hip-pop culture, its influence felt from Madison Avenue to Hollywood." ("Hip Hop Moguls: Beyond the Hype") This cultural phenomenon surpassed country music in 1998, to become the third best selling music genre behind rhythm and blues and rock. According to SoundScan, which tracks retail music sales, by October of last year, rap sales had increased 17% putting the genre on track to surpass 1998's total sales of 81 million records and over $1 billion. And many of these artist who have sprung forth from these record companies that are owned and operated by moguls.
             There are three main concepts that I found necessary to be considered a mogul, a powerful presence in the entertainment industry, establishing profitable business companies, and strengthening their social responsibility to the hip-hop community. For an individual to be consider a mogul they must posses all of these concepts, and maximize them to there full potential.
             The entertainment industry is the first step that all of these moguls have accomplished; they all own a record company. Tariq Muhammad says, "Perhaps most responsible for rap's mogul mantra is Russell Simmons, co-founder of Defjam and the original b-boy executive." ("Hip Hop Moguls: Beyond the Hype")...