Eventually, Sean Combs, also known as Diddy, P. Diddy or Puff Daddy, will eventually release his sixth studio album, No Way Out 2. In the meantime, the 46-year-old Combs is earning millions from his business ventures. His Sean John clothing line is still in stores and he’s the majority owner of the music television network Revolt.
Here’s a look at how Diddy has earned his money.
1. Diddy Has an Estimated Net Worth of $820 Million & Earned $62 Million in 2016
Forbes ranked him as No. 22 on the 2016 Celebrity 100 list, which was just one notch lower than his 2015 ranking. He also topped their Forbes Five list of wealthy hip-hop musicians. Combs also topped Jay Z, whose net worth is estimated at $$810 million.
2. He Earns 50 Percent of All Profits From Ciroc Vodka
In 2007, Diageo PLC picked combs to be the face and developer of the Ciroc vodka brand. As the Associated Press reported at the time, Combs secured a 50-50 share of the profits. At the time, Diageo said the deal was worth over $100 million and combs insisted that Ciroc “will have my daily attention.”
Nearly a decade after that deal was signed, sales have spiked. In 2007, the Ciroc brand was selling 120,000 cases a year, but that jumped to 400,000 cases in the second year of Ciroc’s deal with Diddy. Today, Diageo sells 2 million cases a year.
In 2014, Diddy lead a re-branding campaign to reach millennials. As he explained to AdWeek:
I am that blend of art and commerce. So I pay attention to the business needs, the sensitivities of my partners and how to manage budgets, how to market a great product. But at the same time, I know how to use marketing and entertainment. I enjoy that creative process because it lets me go into that artistic side, not the celebrity side, that’s in me.
3. Combs’ Bad Boy Records Was Once Worth $100 Million & Is Now Distributed by Sony
In 1993, Combs founded Bad Boy Records. In the last decade, the label saw its fortunes flounder after being valued at $100 million in 2003. In 2005, MTV News reported that Warner Music Group took over distribution in a deal reportedly valued at $30 million.
The Warner Bros. deal only lasted until September 2009 and Combs signed with Interscope to release 2010’s Last Train To Paris.
In October 2015, the label moved to Sony Music’s Epic Records. It was a homecoming of sorts, as L.A. Reid was also the head of Arista when Bad Boy was at that label. Reid said in a statement at the time:
Sean ‘Diddy’ Combs aka Puff Daddy and I have been musical collaborators since the 1990s, when we both ran independent record labels. … Over the years, we not only enjoyed incredible success together, but we also became lifelong friends. Today, of course, Puffy is truly in a league all his own, continuing to influence culture and ignite musical revolutions time and time again. He’s a true innovator and I could not be more excited to join forces once again.
“I named it Bad Boy, because I wanted to go against the grain,” Combs told the Today Show. “Not negative, I just didn’t want to be regular. I didn’t want to just make records, I wanted to make history.”
4. Combs Owns a Majority of Revolt TV & Is Carried by AT&T U-verse, Comcast & DirecTV
In 2012, Combs announced plans to launch Revolt TV, a music channel influenced by social media. It was lunched in October 2013 as part of a group of networks run by minority owners backed by Comcast. Since then, other providers, including AT&T U-verse and DirecTV, have picked up the network. It’s also available to Time Warner Cable subscribers.
“Our new agreement with DirecTV is further proof we are on a fast track to revolutionizing the media industry,” Combs said in December 2015. “We are achieving what we set out to do 18 months ago – our programming is available on more screens, and our audience is bigger and more powerful than ever before. What a great way to end an already successful 2015 and launch us into the new year.”
Combs also hosts the Revolt Music Conference in Miami Beach. The second annual event is scheduled for October 13-16, 2016.
Revolt has also helped finance films, including the 2012 crime drama LAwless with Shia LaBeouf, Jessica Chastain and Tom Hardy.
5. Combs Started the Sean John Clothing Line in 1998 & Hopes to Become a $1 Billion Brand
Founded in 1998, Sean John remains one of the most popular and successful clothing lines created by a celebrity. The company has faced controversies in the past. In 2003, the company was accused of using sweatshops in Honduras, which Combs said he was “shocked” to hear.
“I’m as pro-worker as they get,” Combs said at the time. “We are shocked at this information. We are launching an investigation into this matter, and if there is any proof of wrongdoing, we will terminate our relationship with this factory immediately.”
In 2006, the brand took another hit when hooded jackets being sold at Macy’s were made with real hair from a raccoon dog instead of fake hair.
However, the brand is still selling, with Sean John sportswear only being sold at Macy’s. As WWD.com reported in 2014, the brand is expanding internationally and hoping to become a $1 billion brand.
“I’m not selling celebrity, I’m selling fashion,” Combs told WWD. “We’ve graduated at this point. We own fashion-tainment. I don’t want to run from who I am. That’s what makes it exciting, but from Day One I was building a brand. I was never doing a celebrity clothing line.”
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