Sean “Daddy” Combs has been a major player in the music industry for decades, and his net worth has been the subject of much public interest since Monday’s raid on two of his properties.
Combs’ homes in Miami and Los Angeles were raided by Homeland Security on Monday, weeks after he was charged with sexual misconduct and alleged trafficking. Homeland Security has not confirmed why it conducted the raids, but the Associated Press reported that two officials said it was part of an alleged sex-trafficking investigation. Homeland Security Investigations said it would release more information as it becomes available.
Combs — also known as Puff Daddy, Puffy, and Brother Lou — has been under investigation for alleged sexual assault and abuse in recent months. The claims, including those from his ex-girlfriend Casey Ventura, have prompted questions about his behavior.
Combs’ attorney Sean Hawley has denied the allegations, calling them false.
Over the past three decades, the 54-year-old rapper has amassed a fortune from his business ventures, investments, as well as his first music industry career.
In 2022, Forbes estimated his net worth at $1 billion, but even in 2002, Fortune magazine ranked Combs 12th on its list of entrepreneurs under 40.
Newsweek emailed a spokesman for Combs for comment on Tuesday.
Combs has been growing his net worth for 34 years, since becoming an intern at New York’s Uptown Records in 1990.
However, after he promoted a star-studded AIDS fundraiser at NYC’s City College of Harlem, where nine people died in 1991, he was fired. He started his own company, Bad Boy Records, in 1993 and brought with him Uptown signee Notorious B.I.G. Their in-house production crew has worked with artists such as Aretha Franklin, Boyz II Men, TLC, Usher and Lil Kim.
The rapper has also released his own music, including five studio albums, two collaborative albums, one remix album, and 72 singles.
Combs’ debut studio album, No waywas released in 1997 to commemorate the unsolved murder of the infamous BIG and received critical acclaim. It peaked at number one on the Billboard 200 and was certified seven times platinum by the Recording Industry Association of America (RIAA). At the time of writing, it is Combs’ best-selling album to date.
His other albums include The saga continues. (2001), We invented the remix. (2002) and Press the player. (2006).
During her career, Combs won three Grammy Awards, two MTV Video Music Awards, and in 1997, she won a Guinness World Records For “Most Successful Rap Producer”.
Coombs eventually decided to diversify his portfolio and ventured into various business opportunities that increased his wealth immensely.
In 1998, he founded his own clothing line, Shawn John, but sold 90% of the company to Global Brands Group in 2016. However, in 2021, Combs bought it back for $7.5 million. In 2008, Combs acquired the Ennis clothing line from Liz Claiborne for $20 million.
In 2007 it partnered with Diageo, a British multinational alcoholic beverage company. This proved particularly profitable and he collaborated with the brand to promote Ciroc vodka and jointly acquired the DeLeon tequila brand.
In 2013 Combs founded a company called Combs Wines and Spirits and in January 2024 his partnership with Diageo ended.
In addition to her successful wine and fashion ventures, Coombs ventured into acting, further bolstering her financial standing. He played Sergio Roma, a record company executive, in the 2010 comedy film. Take it to the Greek..
The following year he appeared in the first season of Hawaii Five-0, guest starring as an undercover NYPD detective, and in 2012, Combs appeared in an episode of the sitcom. It’s always sunny in Philadelphia.. The following year, Combs co-founded the television network Revolt.
In recent months, Combs has faced several legal battles, including allegations of sexual assault and trafficking.
In February, a music producer filed a lawsuit accusing Combs of soliciting and then pressuring prostitutes to have sex with them. The producer, Rodney “Lil Rod” Jones, alleges in the lawsuit that he was sexually harassed, drugged and threatened by Combs for more than a year. Jones produced several tracks on Combs The Love Album: Off the Grid and requested $30 million in damages.
Combs’ attorney, Sean Hawley, has denied the allegations, previously reported. Newsweek that “we have overwhelming, irrefutable evidence that his claims are complete lies.”
In a separate case, Combs’ ex-girlfriend, R&B singer Cassie Ventura, filed a lawsuit in November accusing him of sexually assaulting her over the years. The lawsuit, which accused Combs of forcing her to have sex with male prostitutes while he filmed, was settled the day after it was filed.
Credit : www.newsweek.com
