Diddy, an American rapper, has managed to overtake Kanye West on the list of the richest rappers announced on October 28, 2022, by former Forbes editor Zack O’Malley Greenburg. Jay-Z, Berner, and Dr. Dre are among the other well-known names on the list. The musician, also known as Sean Combs, replaced Ye on the list with a net worth of roughly $1 billion. Diddy has made a lot of money through his Ciroc contract with Diageo, which nets him over $60 million every year. He has also amassed riches as a minority stakeholder in DeLeon Tequila and a large shareholder in the TV network Revolt.
West recently lost a few partnerships as a result of his anti-Semitic and anti-Black sentiments, reducing his net worth from $2 billion to $500 million and removing him from the list of the richest rappers. The Donda rapper in particular incurred significant losses when sportswear brand Adidas severed connections with him and made a statement stating that they “do not accept anti-Semitism and hate rhetoric.”
According to the statement, Ye’s statements and actions were “unacceptable, hostile, and dangerous, and contravene their principles of diversity, inclusiveness, mutual respect, and justice.” West’s Instagram account was suspended after his anti-Jewish remarks, but he just regained access to it. Since his return, he has stated that he “lost $2 billion in one day and is still alive.”
Diddy is also a wealthy businessman
Diddy has amassed a sizable fan following over the years by releasing multiple successful albums and songs. However, he is also well-known as an entrepreneur. In May 2017, Forbes Magazine stated that he made approximately $130 million. In 2019, the rapper’s net worth was projected to be over $740 million. In 1998, he founded Sean John, a clothing brand, and in 2003, investor Ronald Burke invested $100 million in his firm. In November 2008, Diddy added a men’s cologne named “I Am King” to his brand, with advertising using Israeli model Bar Refaeli.
Diddy is also the owner of two Justin’s restaurants and the chairman of an umbrella firm, Combs Enterprises. He also created the Dallas Mavericks alternative jersey and helped launch the Circo Vodka brand in 2007 with a 50% profit split. In October 2008, he paid $20 million for the apparel business Enyce.
The 52-year-old has a share in Revolt TV, which began programming in 2014. In 2015, he joined actor Mark Wahlberg and businessman Ronald Burkle to buy a controlling stake in Aquahydrate, a calorie-free beverage for sports. In 2019, he invested in PlayVS, which provides an infrastructure for competitive gaming in US high schools. In 1993, the rapper established his record company, Bad Boy Records. His debut album, No Way Out, was published in 1997, and he followed it up with Forever, The Saga Continues…, and Press Play, among others.