Sean “Diddy” Combs’ empire — including everything from record labels to liquor brands to media and television — is crumbling as multiple high-profile lawsuits and federal criminal charges of racketeering and sex trafficking have been leveled against him.
Prosecutors have pointed to Diddy’s lavish wealth as a reason to deny him bail, as a judge ruled in September, arguing that it makes him a potential flight risk with the ability to flee the country undetected. However, according to a report from The New York Times, published on Saturday, October 26, the disgraced music mogul’s riches may be turning to rags before his eyes.
“I firmly believe that he was at one point a billionaire,” journalist and former Forbes editor Zack O’Malley Greenburg, who studied Diddy’s finances, told the outlet. “I firmly believe that he is not now.” A report from Forbes in June estimated Diddy’s net worth at $400 million, down from $740 million in 2019.
Us Weekly has reached out to Diddy’s representatives for comment.
A Timeline of Diddy’s Legal Troubles and Accusations: From Cassie Lawsuit to Multiple Arrests
As for his properties, Diddy’s Los Angeles mansion is on the market for $61.5 million, while his Miami Beach, Florida home was appraised for $48.5 million. His lawyers had hoped to use the Miami Beach home as collateral when they proposed a $50 million bond in September, which was rejected by the court.
Diddy pleaded not guilty to all charges after he was denied bail twice. He has been remanded to the Metropolitan Detention Center in Brooklyn, New York until his trial on May 5, 2025.
“We are disappointed with the decision to pursue what we believe is an unjust prosecution of Mr. Combs by the U.S. Attorney’s Office,” Diddy’s attorney Marc Agnifilo told Us in September. “Sean ‘Diddy’ Combs is a music icon, self-made entrepreneur, loving family man and proven philanthropist who has spent the last 30 years building an empire, adoring his children and working to uplift the Black community.”
Keep reading for a closer look inside Diddy’s dwindling empire:
Ciroc and DeLeón Partnerships
A major branch of Diddy’s businesses was his partnership with liquor company Diageo, through which he began promoting its vodka brand Ciroc nearly 15 years ago. After about five years into their partnership, he and Diageo jointly purchased DeLeón tequila.
In 2023, however, Combs sued Diageo with accusations that the company was typecasting both Ciroc and DeLeón as “Black brands” which were only marketed in “urban areas.” Diageo denied these allegations. A Diageo executive wrote in the court filing that the company had paid Diddy close to $1 billion over the course of their partnership.
At the time, Diddy’s ex girlfriend Cassie (full name Cassie Ventura), whom he dated for 11 years until 2018, filed a lawsuit against him with accusations of rape and abuse, which Diddy denied. The lawsuit has since been settled for an undisclosed sum and Cassie’s legal team claimed that Diddy had offered “eight figures to silence her,” which she rejected.
Another aspect of Diddy’s dispute with Diageo was whether he should continue to represent DeLeón, with Diageo’s lawyers arguing it would be “impossible” for him to “continue to be the ‘face’ of anything.”
However, Diddy and the liquor company inevitably resolved their disputes and the lawsuits were dismissed. As of 2024, Diageo is the sole owner of Ciroc. Diddy also sold his half of DeLeón for about $200 million, per The New York Times.
Revolt Media Company
Earlier this year, it was reported that Diddy had sold his large stake in Revolt TV for an undisclosed amount of money to an anonymous buyer after his Miami and Los Angeles homes were raided by federal agents on March 25. He had stepped down from his role as chairman of the media company in November last year.
Diddy’s Music Catalog
Beyond liquor and television, Diddy made a name for himself in the music industry both as a producer and rapper, credited with the discovery of artists like the Notorious B.I.G., Mary J. Blige and Usher through his record label Bad Boy Entertainment.
However, the value of his music catalog has been shrinking over the years and is no longer generating much income for the mogul, partly because Diddy no longer has the rights to some of his most popular records. Earlier this month, Billboard estimated that Diddy makes around $1.25 million from recordings and music publishing rights per year.
According to The New York Times, if Diddy ever chose to sell his music catalog, it would be extremely difficult, with the value only lessened by the negative publicity generated from his legal troubles.
If you or someone you know has been sexually assaulted, contact the National Sexual Assault Hotline at 1-800-656-HOPE (4673).
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