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America's Mr. I can do everything Sean Combs popularly known as P diddy or simply just Diddy has reportedly reached billionaire status.
I'm a little worried at this point because Diddy is a producer, musician, record producer (with his own label) record executive, actor, and entrepreneur, and now is when he's finally making it to the list?
Well, I guess it is always better late than never.
According to a report from former Forbes editor Zack O’Malley Greenburg, Diddy seems to have joined the club for the first time ever, and his empire has placed his net worth at an estimated $1 billion.
Thanks to factors like his long-standing CÎROC partnership with Diageo, which brings in an estimated $60 million per year, according to O’Malley.
Other multimillion deals that have helped him rack up such a fortune also include DeLeón tequila, in which he correctly has a 50 percent stake, plus his media company REVOLT, in which he is the majority shareholder as well as his music catalog and pockets in start-ups investments.
And on that, not the 53-year-old has gone ahead to surpass fellow rapper Kanye West, who was said to be Hip-Hop’s second billionaire.
After losing multiple partnerships, Forbes estimated West’s fortune to sit at $400 million kicking him out of the ranks of billionaires.
The father of 4's net worth comes from his five percent stake in his ex-wife, Kim Kardashian’s SKIMS shapewear line, the ownership of his master recordings and music publishing rights, and what is left of Yeezy, as he still owns the trademark.
However, the company emphasized that it’s “the sole owner of all design rights to existing products as well as previous and new colourways under the partnership.”
Kanye however seems unfazed by all this.
Taking to his Instagram page after he deleted all his other posts Ye took the moment to remind people that he was not as vain and materialistic as they presumed.
He put up a post that read, "I lost 2 billion dollars in one day and I am still alive.
This is a love speech.
I still love you; God still loves you; the money is not who I am. The people are who I am."
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