Cash Money Records CEOs Bryan and Ronald Williams, better known as Birdman and Slim, respectively, will be saluted as BMI Icons at the 2013 BMI R&B/Hip-Hop Awards next month.

The event, formerly known as the BMI Urban Awards, will take place in New York on Aug. 22. The ceremony will honor songwriters, producers and publishers whose songs garnered the most airplay in 2012.

It's safe to say that Birdman and Slim have been making plenty of cash with their rap empire Cash Money Records. For over 20 years, the dynamic duo has kept the label at the top of the rap and pop industry.

Not only that, they have extended the brand to other entities including book publishing with Cash Money Content. In addition, the label's joint venture with Lil Wayne's Young Money imprint saw the rise of rap superstars Nicki Minaj, Drake and Tyga.

"It's absolutely incredible to be honored in this fashion," said Baby about his BMI Icon honor. "Cash Money Records is a family first and foremost, and we share this achievement with our entire team and roster. We also want to thank BMI and everybody who's ever believed in this dream that my brother and I first had over 20 years ago. We're going to keep everything going even stronger for the next 20."

His brother Slim concurred and added, "This recognition from BMI is one of the greatest honors we've ever received. To be recognized by the industry like this, it's humbling, and it's inspiring. We want to thank BMI, every artist on our roster, Universal, and anyone else who's been a part of Cash Money Records' success."

The Williams brothers join a distinguished list of previous BMI Icon recipients including James Brown, the Jacksons, Mariah Carey, Little Richard, Snoop Dogg, Issac Hayes, George Clinton and Al Green, among many others.

Congrats to Birdman and Slim on their BMI Icon honor.