In the wake of his dramatic arrest in Manhattan and subsequent sex crimes charges, Sean ‘Diddy‘ Combs is facing the prospect of losing his staggering fortune.
As a rapper, music producer and entrepreneur involved in a variety of companies from broadcasting to alcohol, Diddy’s net worth topped out in 2019 at $740 million – and he was well on his way toward billionaire status.
But his empire began crumbling in November last year when his ex-girlfriend Cassie accused him of sexual assault and physical abuse, which triggered at least nine others to launch similar lawsuits against him.
He’s now estimated to be worth $400 million, according to Forbes, but faces the fight of his life to hold on to his freedom and his fortune.
And while those suits threaten to bleed the rapper dry, the loss of Diddy’s revenue streams – including the collapse of his lucrative brand deals with liquor giant Diageo – could make funding his legal battle even more expensive.
Now, after it emerged that Diddy tried and failed to float his $48 million Miami mansion as bail collateral in court, DailyMail.com looks at the assets that the disgraced mogul could be set to forfeit.
Diddy’s $48 million Miami mansion (pictured), which was raided by federal authorities earlier this year and was floated as collateral as criminal proceedings against the mogul were brought in New York in September
During his heyday Diddy was known for extravagant purchases, eye-catching bling and throwing lavish parties, as his net worth peaked at over $740 million
How Diddy’s wealth soared – and his extravagant purchases
When he rose to fame in the 1990s, Combs made no secret of his growing wealth as he became notorious for wearing eye-catching bling and throwing lavish parties.
Following the success of his record label, Bad Boy Records, which catapulted Diddy into stardom through film appearances in hits such as Get Him To The Greek, the mogul’s fortune soared.
In the two decades before his arrest, Forbes reports that Diddy made almost a billion dollars, as he branched out into ventures including a fashion label, fragrance lines, and founding the Revolt TV network.
In 2003, he purchased a sprawling Miami mansion for $14.5 million, at a time when he was celebrating his studio album, The Saga Continues, going platinum.
Diddy, seen splashing the cash at a nightclub in Magic City, Atlanta, used to boast that he was a ‘billionaire’ as he became a hip-hop icon
Among Diddy’s exorbitant purchases included a $39 million Los Angeles mansion in 2014 (pictured) which was later raided by federal authorities
In a bid to avoid jail ahead of his trial, Diddy offered a $50 million package that included putting his Miami mansion and mother’s $2 million apartment (pictured) up as collateral
That home is now worth upwards of $48 million, according to Diddy’s legal team who put the mansion up as collateral in a failed bid to have him bailed out ahead of trial.
The bail package also included putting Diddy’s mother’s $2 million Miami apartment up as collateral, but this was rejected by a judge.
It was part of a wave of purchases and expenses that became routine for Diddy as his stock soared, which also included splurging $60 million on a private jet that he dubbed ‘Combs Air.’
Over the years, Diddy seemed to enjoy raising eyebrows by splashing the cash, such as wearing a 30-carat diamond pinky ring to the 2022 Oscars, owning a revolving fleet of 20 sportscars, and even an art collection with works by Jean-Michel Basquiat and Keith Haring.
In 2014, the producer made another huge purchase, a huge Los Angeles mansion that he snapped up for a reported $39 million – one of his many assets that look to be vulnerable as he faces jail.
The rap mogul, pictured arriving at the New York City premiere of Bad Boys II in one of his sportscars, became notorious for showing his wealth
Diddy seen attending the 2022 Oscars, where he raised eyebrows by wearing a 30-carat diamond pinky ring
Embattled star’s fortune dips
Diddy and his team would frequently say he was a billionaire, although he does not appear to have ever quite reached the lofty status.
Forbes listed Diddy’s peak personal fortune at $740 million in 2019, the highest it ever reached before a series of controversies and business stumbles saw it tumble.
In June, the outlet conservatively reduced his net worth to $400 million – a number that experts say is set to continue to plummet as he hires a battalion of lawyers to fight the criminal charges he faces. Regardless of whether he’s convicted or cleared, Diddy will almost certainly also face a slew of civil suits from his alleged victims that will further drain his fortune.
One of the biggest loss of Diddy’s revenue streams may have nothing to do with allegations of abuse and sexual assault, however, as the collapse of his liquor ventures could cost hundreds of millions.
Diddy previously enjoyed a highly lucrative partnership between his vodka brand Ciroc and Diageo, one of the largest alcohol conglomerates in the world.
But the rapper went to war with Diageo in May 2023 with a lawsuit claiming the company was ‘unwilling to treat its Black partners equally’, alleging his brands were underprioritized compared to others under the Diageo umbrella, such as Don Julio tequila.
Diddy raked in $66 million per year from 2007 to 2023 through his Ciroc vodka partnership with Diageo, and the venture made up a huge chunk of his net worth before it collapsed in 2023
Diageo countered by severing all ties with Diddy by June 2023, and claimed that ‘despite having made nearly a billion dollars over the course of our 15-year relationship, Mr. Combs contributed a total of $1,000 and refused to honor his commitments.’
From 2007 to 2023, the mogul reportedly earned $66 million every year through the partnership, meaning the loss of the deal came as a huge hit to Diddy’s finances – with Forbes noting that a large chunk of his peak $740 million net worth in 2019 came from his partnership with Diageo.
Diddy also sold his 50 percent stake in Revolt TV in June after sexual assault allegations were brought against him, which reaped almost $200 million, a fraction of what his shares were once worth.
And while his fashion line, Sean John, once brought in over $400 million in annual sales, the line has since been dumped by Macy’s in a move that has been compared to Adidas dropping Kanye West’s Yeezy line after his controversial remarks last year.
Diddy seen during his heyday at a Fourth of July party in the Hamptons in New York, with one of his 20-strong luxury vehicles
Future civil suits could bleed him dry
As he faces the fallout of a decades-long career in the limelight, Diddy appears to be in a desperate scramble to cash in and stay afloat.
The week before his indictment in New York, Diddy put his Los Angeles mansion on the market for $61.5 million, hoping to make a $12.5 million profit on his investment.
His attorney said he had been ‘anticipating’ the charges against him before he made the move, evidencing Diddy’s dash to prop up his legal fights.
Alongside facing sickening sex crime charges in New York, Diddy has also been slapped with 10 civil lawsuits from alleged victims.
Fighting these ongoing cases could cost Diddy dearly, with one already costing him a staggering $100 million. Diddy will have to pay lawyers fees – and also faces having to pay victims any settlements handed down by judgements, as well as their legal fees.
This month, in the days before he was indicted in New York, Michigan prison inmate Derrick Lee Cardello-Smith was granted $100 million by default after Diddy failed to appear nor answer the suit against him.
Cardello-Smith alleged that Diddy drugged and sexually assaulted him at a party in Detroit in 1997, however the rapper’s attorney says he plans to appeal the huge judgement against him.
