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Sean Combs, famously known by his stage name, Puff Daddy or P Daddy, is an American rapper. The other titles to his name include; songwriter, actor, entrepreneur, and record executive. Therefore, if you are a fan of this award-winning artist, you may wonder how much he is worth. If this is the case, please read on to find out about his wealth source and how he spends his money.
What is P Diddy’s Net Worth?
According to Forbes, P Diddy’s net worth is $930 million as of 2022. On the other hand, Celebrity Net Worth reports that his net worth as of 2022 is approximately $900 million. Therefore, P Diddy is ultimately one of the top-earning celebrities.
How Did P Diddy Earn His Net Worth?
If you have ever wondered how this rapper makes his money, you are about to find out. The following are some of the sources of P Diddy’s wealth;
- His Record Label
P Diddy attended Howard University. He majored in Business but later dropped out after his sophomore year and got an internship at New York’s Uptown Records. At this time, he helped develop artists like Mary J Blige. In 1993, he got fired from Uptown Records and established his own record label, Bad Boy Entertainment, which quickly blew up. During the following year, he produced several songs, some of which were among the top pop albums, earning a position on Billboard’s list.
Additionally, he formed an in-house production team, The Hitmen. Some of the artists under this team include Mariah Carey, Usher, Boyz II Men, and TLC. Notably, His record label was very successful at the time, with sales reaching hundreds of millions. Diddy worked as a musician, creative director, and even the stylist of his label.
- Solo Music Career
Apart from his record label, Diddy is also known for his solo music career. P Diddy recorded his first commercial song as a rapper in 1997. His debut single, Can’t Nobody Hold Me Down, made it to the top of the Billboard Hot 100 and remained on the chart for 28 weeks. Moreover, he released his first album, No Way Out, through his record label in 2017. In just one week, the album had already sold over 561,000 copies. It earned him nominations at the 40th Grammy Awards and even won the Grammy Award for Best Rap Album. Later, he would release three more albums. Therefore, it is not surprising that P Diddy’s music earned him money.
Besides his singles and albums, P Diddy has appeared on screens thanks to his acting. Some of the films and TV shows in which he has featured include Made (2001), Monster’s Ball (2001), A raisin in the Sun (2008), I’m Still Here (2010), Get Him to the Greek (2010), Draft Day (2014) and The Defiant Ones (2017.) Moreover, he had his reality TV show, I Want To Work For Diddy and helped produce Making The Band which aired from 2002 to 2008 on MTV.
P Diddy is not only an accomplished musician but is also a successful businessman. For instance, in 1998, he ventured into the fashion industry, where he had his own clothing line, Sean John. He introduced hip-hop to high fashion through his brand. He was awarded Menswear Designer of the Year in the Council of Fashion Designers of America in 2004.
Eventually, Diddy developed a clothing brand, which brought him good money. Women’s Wear Daily reported that annual sales hit around $450 million in 2016.
P Diddy is also the head of Combs Enterprises and has shares in various companies, as you will later find out.
- Real Estate
P Diddy has made some good cash from real estate. He rented his East Hampton home for up to $200,000 monthly. Later in 2020, he sold the property for $4.7 million. This was good business considering he had repurchased the home in 1998 for $2.45 million.
- Investment in Brands
P Diddy is huge on making more money. His extensive portfolio of stocks has a lot to prove. He has invested in Ciroc Vodka. Here, he gets 50% of the profits. Nonetheless, he is one of the major stakeholders at Revolt TV, DeLeon tequila, and has holdings in Aquahydrate, an alkaline water brand. In total, he has around 18 stocks in which he has invested. No doubt these are a source of some good money.
How Does P Diddy Spend His Money?
With the numerous sources of income, you may want to know how P Diddy spends his money. The following are some of the avenues through which P Daddy channels his money to;
- Buying Homes
P Diddy has leaped into real estate and bought several homes and mansions. For example, in 1998, he purchased a home worth $2.45 million in East Hampton. This is where he held his famous White Party.
Additionally, in 2003, he bought a 3-bedroom apartment in New York City for $3.82 million. He later sold it in 2017 for $5.7 million. In 2004, he spent $7 million purchasing a home in New Jersey, which he would later sell in 2016.
The quest for homes and mansions was still ongoing. In 2014, he purchased one in Los Angeles for $39 million. His most recent purchase was last year when he spent $35 million on a home that sits on a 1.3 acre-land.
- Luxury Cars and Yachts
P Diddy has a total of 10 cars and four luxury yachts. A section of his expensive yachts contains a plunge pool and a home theatre.
- Private Jet
Diddy is a proud owner of a private jet worth over $400 million. Besides, he spent an extra $ 3 million in changing its exterior designs to his preference.
P Diddy is one of the wealthiest rappers, coming second to Jay-Z. According to Celebrity Net Worth, he has a net worth of around $900 million as of 2022. Some of the sources of this wealth include his record labels, his single music career, his involvement in business, real estate, acting, and investment in other brands. On the other hand, some of the areas in which he has spent money include purchasing homes and mansions, luxury cars, a yacht, and a private plane.