Sean “Diddy” Combs has been a major player in the music industry for decades, and his net worth has become of huge public interest since two of his properties were raided on Monday.
Combs’ homes in Miami and Los Angeles were raided by Homeland Security on Monday, weeks after he had been accused of sexual misconduct and alleged trafficking. Homeland Security did not confirm why it had carried out the raids, but the Associated Press reported that two officials said it was part of an alleged sex trafficking investigation. Homeland Security Investigations has said it will release more information as it becomes available.
Combs—also known as Puff Daddy, Puffy, and Brother Love—has been under investigation for alleged sexual assault and abuse in recent months. These claims, which also include charges from Cassie Ventura, his ex-girlfriend, have prompted inquiries regarding his behavior.
Combs’ attorney Shawn Holley has disputed the allegations, dismissing them as lies.
Over the past three decades, the 54-year-old rapper has amassed considerable wealth from his business ventures, investments, as well as his earlier music industry career.
In 2022, Forbes estimated his net worth at $1 billion, but even in 2002 Fortune magazine had listed Combs at number 12 on their top 40 of entrepreneurs under 40.
Newsweek emailed a spokesperson for Combs for comment Tuesday.
Combs has been growing his net worth for 34 years, ever since he became an intern at New York’s Uptown Records in 1990. Under the guidance of label founder Andre Harrell, he helped develop the R&B act Jodeci and singer-songwriter Mary J. Blige.
However, after he promoted a star-studded AIDS fundraiser at NYC’s City College in Harlem where nine people died in 1991, he was fired. He started his own company, Bad Boy Records, in 1993 and brought Uptown signee the Notorious B.I.G. with him. His in-house production crew worked with artists such as Aretha Franklin, Boyz II Men, TLC, Usher and Lil’ Kim.
The rapper has also released his own music, comprising five studio albums, two collaborative albums, one remix album, and 72 singles.
Combs’ debut studio album, No Way Out, was released in 1997 in the wake and memory of the unsolved murder of Notorious B.I.G. and earned critical praise. It peaked at number one on the Billboard 200 and was certified septuple platinum by the Recording Industry Association of America (RIAA). At the time of writing, this is Combs’ best-selling album to date.
His other albums include The Saga Continues (2001), We Invented The Remix (2002) and Press Player (2006).
During his career, Combs has won three Grammy Awards, two MTV Video Music Awards, and in 1997 he won a Guinness World Record for “Most Successful Rap Producer.”
Combs eventually decided to diversify his portfolio by venturing into various business opportunities that greatly increased his wealth.
In 1998 he founded his Sean John clothing line but sold a 90% stake in the company to Global Brands Group in 2016. However, in 2021, Combs bought it back for $7.5 million. In 2008, Combs acquired the Enyce clothing line from Liz Claiborne for $20 million.
In 2007 he partnered with Diageo, a British multinational alcoholic beverage company. This proved to be particularly lucrative 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 came to an end.
In addition to his successful liquor and fashion ventures, Combs ventured into acting, which further bolstered his financial standing. He played Sergio Roma, a record company executive, in the 2010 comedy film Get Him 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 featured 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, with lawsuits accusing him of sexual assault and trafficking.
In February a music producer filed a lawsuit accusing Combs of coercing him to solicit prostitutes and then pressure him 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 seeks $30 million in damages.
Combs’ attorney Shawn Holley has disputed the allegations, previously telling Newsweek that “we have overwhelming, indisputable proof that his claims are complete lies.”
In a separate case, Combs’ ex-girlfriend, R&B singer Cassie Ventura, sued him in November, alleging years of sexual abuse. 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.