Combs Enterprises: 5 Ways Sean Diddy Combs' Net Worth Surged To $885 Million
Quick Links
Sean “Piddy” Combs has been a successful rapper and record producer since the early 90’s. He created his own label, Bad Boy Records in 1993 and released his debut album, “No Way Out” in 1997. The superstar has also launched careers for The Notorious B.I.G., Mary J. Blige and Usher to name a few.
He’s won three Grammy’s and two MTV Video Music Awards and has a net worth of nearly $900 million. The wealthy celebrity didn’t earn that money through music alone though, he’s also a businessman and entrepreneur.
As CEO of Combs Enterprises, his interests and investments in clothing lines, fragrances, television and film producing has certainly paid off. The man with a plan isn’t stopping anytime soon. Just this year, he launched a new business platform for black entrepreneurs and has been vocal about business practices and corporate America.
Check out some of the successful businesses Combs is involved in currently and how that net worth continues to grow.
Retail and Fashion
Combs created the fashion brand Sean John in 1998 and what began as a small clothing line has launched into a megabrand serving 18 different product categories, including sportswear, dress clothing, kids wear and more.
The idea behind the brand is to combine streetwear and menswear in one shop, establishing the multi-faceted lives of men and their lifestyles.
He has licensing deals with GBG, PVH and Marchon and in 2004, the Council of Fashion Designers of America named Combs Menswear Designer of the Year. According to Forbes, he was the first African American to bring the award home.
In 2007, Combs debuted the fragrance “Unforgiveable” and won the Fifi Award, winning for a second time with his 2009, “I Am King” fragrance.
Store front locations are available in New York, Los Angeles, London, Tokyo and Paris.
Beverages and Spirits
In 2007, Combs began dabbling in the world of premium spirit companies, creating a partnership with Diageo and overseeing the branding for CIROC Vodka. This partnership led him to create his own brand, Combs Wine & Spirits, the umbrella over his privately owned spirit and wine brand as well as DeLeon Tequila, also co-owned by Diageo. Under his own brand, the company hopes to deliver excellent product while promoting healthy social responsibility.
It’s not all alcohol however, Combs is also involved with Aquahydrate, a performance, purified water, supplemented with electrolytes and natural trace minerals to fuel hydration in the body.
Many in the health and fitness industry have become involved, professional athletes and a variety of sports teams have all tapped into Combs healthy alternative. Investors and board members include, actor, Mark Wahlberg and The Yucaipa Companies, CEO Ron Burkle.
Entertainment
More than 20 years ago, Combs created Bad Boy Entertainment, becoming a pioneer in hip hop production, distribution and marketing. Bad Boy became famous for launching careers and giving some a chance at stardom they might not otherwise have received.
He began appearing in films, including A Raisin in the Sun and produced the Academy Award-winning documentary Undefeated. In 2013, Combs launched Revolt Films as a television and film production company and received rave reviews for the 2015 Sundance-favorite, DOPE.
Another on-demand branch of the Revolt brand is on cable television, featuring breaking music news, videos, interviews and exclusive performances. Programs are dedicated to urban contemporary music and subjects involving social justice issues.
Encouraging Education in Harlem
In 2016, the Harlem-born mogul partnered with Capital Preparatory Schools and its founder, Steve Perry to open a charter school in his hometown. The school is modeled after a successful magnet school in Hartford, CT and is dedicated to providing education to underserved and disadvantaged students.
According to Combs Enterprises, since 2012, 100 percent of high school students graduated and continued to college from the Connecticut location.
It was a labor of love Combs had been working on since 2011, voicing his belief that education will open up the world’s opportunities for young people.
New This Year
Combs partnered with JP Morgan Chase early this year to help black entrepreneurs of small businesses gain access to the Paycheck Protection Program (PPP) loans offered by the government in light of the COVID-19 pandemic. “Our Fair Share” has helped hundreds of companies learn more and get connected to resources throughout the process.
Just this summer, Combs announced the upcoming SHOP CIRCULATE, a one-stop-shop for black-owned businesses and in partnership with Salesforce. The site will feature beauty, fashion, art, health, and home décor business – all owned by black entrepreneurs.
He’s repeatedly taken a vocal stance on building generational wealth and financial security in the black community and told MSN that building that wealth, starts with investments. SHOP CIRCULATE is expected to debut in late 2021.
Sources: Forbes, Combs Enterprises, MSN
ncG1vNJzZmivp6x7tbTEq6CcoJWowW%2BvzqZmq6GTnXqxu9aeqZ%2BtnGSwsLnBrGSepqSav7G%2ByKycrGVlYsSixdJmqp6ZnmKxqrDDsmScp52XwG66xK1ksKeiqbVuv9Srnp6cXam8boSXbmSmoZyhtrC6jg%3D%3D