P. Diddy has discussed his friendship with fellow hip-hop mogul Jay-Z, admitting they're "naturally competitive" with each other.

The Bad Boy Records boss recently beat Hov to the top of Forbes' hip-hop rich list, but Diddy jokingly reveals they made a deal that he would take this year's crown. "I’m usually at No. 1. Our plan was to always flip-flop on it," Diddy told Hot 97.

"This was the year I told him that we had to flop it back to its original owner. We push each other, we inspire each other. It’s just a beautiful relationship of natural competitiveness. But you know, it’s back at Bad Boy."

Diddy is currently the richest man in hip-hop with $550 million, while Jay-Z trails in second place with $460 million.

Will Jay be able to steal Diddy's crown next year?

P. Diddy and Kim Porter enjoy family time on Miami beach...