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Black in Business: Here’s How Sean ‘Diddy’ Combs Built His $885 Million Empire

Posted by Abeiku Ebo on

Black in Business: Here’s How Sean ‘Diddy’ Combs Built His $885 Million Empire

Sean “Diddy” Combs, 50, began his career as a newspaper vendor at the age of 12. “Since then, I’ve always understood that if I give the customers my best and service them differently, whether music, clothing or vodka, I’ll get a return on my hard work,” he told Forbes.

Today, Diddy is worth close to $1 billion after building a successful business empire in addition to his music career. Celebrity Net Worth estimates that the American rapper is worth $885 million and his fortune comes from stakes in businesses such as Ciroc Vodka, Sean John clothing line, DeLeon tequila, Aquahydrate water, and sponsorships deals.

The journey toward becoming a successful businessman for Diddy started on a shaky foundation. He was dismissed from Uptown records where he started as an intern and later became a talent developer in the 1980s. He established his own record label called Bad Boy Entertainment and signed artistes such as Notorious BIG, Carl Thomas, Faith Evans, 112, Total, and Father MC.

He released his first hit song titled “Can’t Nobody Hold Me Down” in 1997 under the name Puff Daddy and it stayed on top of the Billboard Hot chart for 28 weeks. He has since changed his name from Puff Daddy to P.Diddy and then to just Diddy.

Aside from music, he has stakes in other viable ventures that bring him a fortune. In 1998, he successfully launched his clothing line called Sean John which became an instant hit, fetching him nearly $600 million. Each year, he organizes fashion shows to debut his newest collections.

Also, he has a stake in Aduahydrate, one of the largest bottled water companies in the world. According to Forbes, the company has enjoyed triple-digit annual growth since 2012 and is the fastest growing water in the U.S. The company is reportedly worth $2 billion.

Diddy is also a part-owner of digital cable television Revolt TV that focuses on pop culture and entertainment. It has a huge market on social media which brings in millions. In addition, he is also a part-owner of Ciroc Vodka which is worth an estimated $100 million for Diddy.

Diddy, moreover, secured a joint venture with Estee Lauder to create Sean John Fragrances. Diddy’s flagship fragrance, Unforgivable, reached number one in department stores in the USA in a very short space of time and became the first male fragrance to claim the title of ‘Best Selling Fragrance’ in 2006.

Diddy was raised by his grandmother following the killing of his dad when he was only two years old. He graduated from the Roman Catholic Mouth Saint Michael Academy in 1987 and proceeded to Howard University as a business major, but left after his sophomore year, according to Celebrity Net Worth.

He is credited with nurturing talents such as Jodeci and Mary J. Blige besides Notorious BIG, Carl Thomas, Faith Evans, 112, Total, and Father MC.

 


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