Sean “Diddy” Combs popularly known as Diddy. appears to be facing financial crisis.
His case is now tagged as. “LESS MONEY, More problems.”
The analysis of Diddy’s finances shows that the 54 years old Diddy, still lives the expensive lifestyle of a high-profile rap star despite the FBI raid which he called a “witch hunt” on his home in a sex-trafficking probe amid a series of civil suits.
He was about to board one private jet in Miami when SWAT teams stormed into his homes in Miami and Beverly Hills last month — while the Gulfstream he owns was last spotted in Antigua.
The Post’s analysis puts Diddy’s total annual bills conservatively at 35 million dollars per year.
His family is also likely to be an increasing financial drain on him. Diddy is a father of seven, four under 18, and while he currently has no long-term partner, and is believed to pay for the upkeep of several exes.
And in another financial threat, his son Christian “King” Combs was sued in Los Angeles Thursday by a woman who claims that he sexually assaulted her in 2022, when he was 24.
The biggest single source of Diddy’s wealth for almost two decades was his partnership with drinks giant Diageo.
It brought in cash first, from 2000 and 7, through being a 50 50 partner in the Cîroc vodka brand and then from 2013, by jointly buying DeLeón tequila.
As part of his 2000 and 7 deal Diageo gave him 50% of Cîroc’s profits and he was also given a marketing budget to promote the alcohol of as much as 15 million dollars a year.,
which he used for lavish parties on yachts, at his homes and around the country.
In May, 2023 Diddy sued the company British-based alcohol giant alleging that he was being treated as a second-class partner to other celebrity booze pitchmen like George Clooney, because of his race, setting up a bitter battle in which Diageo revealed he had been paid 1 billion dollars since 2000 and 7.
While the marketing budget funded Diddy’s social life, the revenue stream from Cîroc “floated all his other companies.,”
The highest-profile of those other companies in recent years was Revolt TV, which is a steady and predictable income, on top of which they do advertisements
But when Diddy’s ex known as Cassie, accused him of rape and sex trafficking last November, Diddy stepped down as chairman.
Last month he offloaded his stake in Revolt TV to an anonymous buyer for an undisclosed AMOUNT.
The fall of Revolt was not his only media disaster.
At the same time as he was sued, a reality show which was due to be produced for Hulu about Diddy’s life was also cancelled.
Businesses also quickly cut ties with his marketplace.
Diddy’s Gulfstream 550 — a jet that can fly 6,500 miles or farther than the distance between Los Angeles and London without refueling. It costs $60m up front and then an additional $3.5m each year to maintain, according to jet research firm
While Diddy has long been widely reported to have his own yacht, which can cost up to $300,000 a week to charter.
A luxury home worker said. Diddy’s $35 million, waterfront compound in Miami and a $40 million Los Angeles mansion with an underwater tunnel could cost him an extra $5 million in taxes, repairs, and staffing.
Diddy is also on the hook for two hefty mortgages which is about $100 million which expire in 2029 and 2036 respectively — costing him nearly $8.5 million a year.
Diddy also has a multi-million dollar jewelry collection including a $300,000 Richard Mille watch, a 30 carat diamond pinky ring — which could be worth millions according to jewelers — and a $500,000 diamond chain necklace.
It’s unclear how much Diddy spends on child support in total but a court filing from 2000 and 5 shows he was ordered to pay monthly child support of $21,782 on just one of his seven children. That comes out to $252,000 per year.
If he still paid that exact amount, without adjusting for inflation, it could add an extra $1.8m just for his kids. It’s unclear if Diddy still supports all his children.
Mark Geragos, who previously represented Diddy —estimated Diddy’s current legal bills will be the annual equivalent of a “high seven figure commitment.”
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