Hip-Hop mogul Sean “P. Diddy” Combs has joined the exclusive rap billionaire club, becoming the second wealthiest rapper in the world.
Months ago, that title was held by producer-turned-rapper-turned-designer Kanye West until he started floating ideas about George Floyd’s death not being a murder and spewing antisemitic rhetoric— language that alienated him from his business partners and allies.
Even Diddy, aka Brother Love, tried to curb his friend but found himself mocked and ridiculed by Yeezy.
However, now, Diddy finds himself as the second highest-ranking billionaire rapper in the world after almost 35 years of grinding in the industry.
According to ZogBlog, a publication by former Forbes journalist Zack O’Malley Greenburg, the Bad Boy’s investments and business deals have paid off.
“Diddy becomes the third billionaire minted by Hip-Hop surging past Ye on the strength of several assets that have weathered the pandemic remarkably well,” he wrote. “The value of his incredibly resilient Cîroc partnership with Diageo—which functions like an equity stake while creating cash flows for Diddy in the neighborhood of $60 million annually—continues to account for the bulk of his fortune.”
Greenburg also highlighted other businesses that have contributed to the ranking.
“The success of other assets, including DeLeón tequila (he owns half) and Revolt (he’s the majority shareholder), as well as his music catalog, startup investments, and a considerable collection of worldly possessions, have finally pushed the impresario into ten-figure territory,” O’Malley Greenburg informed.
He also shared that Ye remains one of the most financially secure artists in the culture, rocking out with half a billion based on his 5% stake in ex-wife Kim Kardashian’s $3.2 billion shapewear line, his master recordings and music publishing and the Yeezy brand.
Rap star Jay-Z topped the list with a net worth of $1.5 billion, Diddy was #2 with $1 billion, and Kanye was listed at #3 with $500 million.
A newcomer to the list was rapper/marijuana entrepreneur Berner, who overtook Dr. Dre with a net worth of $410 million, thanks to his incredibly successful Cookies brand, which has 48 stores in the U.S. and around the world.
Dr. Dre landed at #5 with $400 million thanks to his sale of Beats to Apple in August of 2014 in a cash and stock deal.
Source: allhiphop.com
