Sean “Diddy” Combs. Scott Gries/Getty Images for Universal Music Combs now has more money than Kanye West, making him the second-highest earner in hip-hop, after Jay-Z. Former Forbes editor Zack O’Malley Greenburg reported that Combs has recently joined the billionaire’s club.
He’s earned the status thanks to his Bad Boy Records, his clothing line Sean Jean, and his deal with Cîroc vodka. Combs founded Bad Boy Records in 1993. It’s the foundation of his wealth and power.
Biggie Smalls and Sean “Diddy” Combs in 1997. Ron Galella/Ron Galella Collection/GettyWith an insatiable drive, Combs burst onto the music scene in the mid-1990s and changed hip-hop forever with his record label Bad Boy, which featured the likes of Craig Mack, 112, Faith Evans, Mase, and the iconic songs of Notorious B. I.
G. At its height, the label was worth $100 million. Bad Boy didn’t just put Combs on the map, it made him a superstar in the entertainment business.
He launched his Sean Jean clothing line in 1998, which has earned him millions. Sean Combs with his Sean Jean clothing line. Steve Azzara/Corbis/GettyAlways a trendsetter, Combs began a clothing line in the late-1990s and it’s evolved over the years as a staple in the men’s fashion world.
By 2016, it was generating $450 million in annual retail sales. Though that same year Combs had to sell 90% of the company, in 2021 he bought the company back from the bankrupt owner for $7. 5 million.
Combs earned $28 million in 2007, thanks to his music and MTV show “Making the Band. “Sean Combs with the stars of his “Making the Band” TV show. Jim Spellman/WireImage/GettyForbes began tracking the wealth of hip-hop stars in 2007, and, from that point on, Combs has been a fixture on the list.
The magazine reported Combs took in $28 million in 2007, thanks to the Bad Boy label, which was responsible for his popular MTV series “Making the Band,” the Sean Jean line, and two restaurants he owned. In 2008, he earned $35 million, thanks to his involvement in the Cîroc vodka brand. Sean Combs became an ambassador Cîroc in 2007.
Gary Gershoff/WireImage/GettyCombs entered the crowded beverage game in 2007 when he became an ambassador of the vodka brand. A year later, Forbes reported that he brought in $35 million, thanks to the new venture along with his others. With Combs’ stamp on the brand, by 2014 more than 2 million cases were being sold per year.
Combs cofounded the network Revolt TV in 2013, skyrocketing his net worth to $580 million. Sean Combs at the Revolt launch party in 2013. Shareif Ziyadat/FilmMagic/GettyThe digital cable network was launched in 2013.
With the new venture, Forbes reported that his net worth was up by $200 million. By 2013, Combs was worth $580 million in total, according to Forbes. In the same year, he teamed with Mark Wahlberg to purchase a majority holding in the water company Aquahydrate.
Mark Wahlberg and Sean Combs at the launch of Aquahydrate. Imeh Akpanudosen/GettyExpanding his portfolio once more, Combs teamed with Wahlberg to have a majority stake in the water brand. Both have reportedly put in at least $20 million.
In 2020, the company was generating $65 million in sales. In 2017, Forbes named Combs the highest-paid musician of the year, making $130 million. Sean Combs was making bank.
Ethan Miller/Getty ImagesThrough most of the 2000s, Combs was one of the top-earning hip-hop figures. But in 2017, his status skyrocketed to the top in all of music. Forbes reported that he earned more than any other artist in 2017 by taking in $130 million.
Along with Cîroc and Sean Jean, his Bad Boy Family Reunion Tour was also a hot ticket. In 2022, Combs reportedly became a billionaire. Sean Combs in 2022.
Prince Williams/GettyCombs become the third billionaire in the history of hip-hop in 2022, according to former Forbes editor Zack O’Malley Greenburg. Combs made it to the mountain top thanks to his partnerships with Cîroc and DeLeón tequila, Revolt, the Bad Boy catalog, and other numerous ventures. Combs spends his cash on cars.
Sean Combs in 2005 driving a 1956 Corvette. Gustavo Caballero/GettyCombs loves to drive around in style. Along with this vintage Corvette, Combs also has a Rolls-Royce Phantom and a Mercedes-Benz Maybach.
He has a massive jewelry collection. Look at that chain!Johnny Nunez/WireImage/GettyCombs does not mess around when it comes to jewelry. One piece is a chain necklace encrusted with diamonds that costs $500,000.
He showed off a bunch of his prized possessions in 2020. Combs wore a 30-carat diamond pinky ring to the 2022 Oscars. He went to the Oscars in style.
Mike Coppola/GettyOn the red carpet, he sported a massive diamond pinky ring that People reported to be 30 carats. Combs spent $21 million on a painting in 2018. His tastes are expensive.
Gareth Cattermole/Getty ImagesAt first, it was unknown who bought the Kerry James Marshall painting called “Past Times. “But The New York Times later revealed that it was Combs. Depicting a Black family enjoying the park, according to ArtNet, the price paid for the painting is the highest ever for an artwork by a living Black artist.
He flies around in an all-black private plane. Sean Combs attends Casamigos Halloween party in Beverly Hills dressed as a pilot in 2018. Kevin MazurOf course, Combs travels around in style.
He flies the world in an all-black Gulfstream G550 private jet. Combs vacations on a 178-foot super yacht worth $65 million. Combs knows how to relax.
Frazer Harrison/GettyThe yacht, named Maraya, is 178 feet long, with six cabins and two staterooms. It cost $65 million and has a crew of 15, a jacuzzi on the sundeck, a fully equipped gym, a wellness area, and multiple lounge areas. Read the original article on Insider.
From: insider
URL: https://www.insider.com/sean-diddy-combs-worth-how-he-spends-makes-money
