Sean Combs net worth - ATLANTA, GEORGIA - AUGUST 26: Sean Combs Onstage during Invest Fest 2023 at Georgia World Congress Center on August 26, 2023 in Atlanta, Georgia. (Photo by Prince Williams/WireImage) — Prince Williams/WireImage

Find Out Sean Combs' Net Worth In 2024

Bad Boys sometimes have really good accountants.

Author:
Jessica Sager
Updated:
Mar 26, 2024

On March 25, 2024, U.S. Department of Homeland Security agents searched the Los Angeles and Miami homes of Sean "Diddy" Combs, as part of "an ongoing sex trafficking investigation," according to The Associated Press sources.

It is not clear whether the investigation is connected to several recent lawsuits filed against Combs for sexual assault. The suits include one filed by an ex-girlfriend in federal court in November 2023, which was settled within one day under undisclosed terms. Combs has denied all claims.

At the time of this writing, Combs is the second richest man in hip-hop and has been since October 2022. His wealth in the hip-hop industry has been bested only by Jay-Z—and similar to Hov, Sean Combs' net worth in 2024 is largely due to factors beyond award-winning music.

Combs has consistently championed creating more opportunities for Black entrepreneurship and success, using his position as a leader in his industry to open more doors for artists and moguls of color—even giving back the publishing rights to artists from Bad Boy Records, reportedly rejecting a nine-figure offer to sell the catalog to outsiders.

“When I started seeing how media was using our success, whether it was Kanye's, Jay-Z’s, mine, Rihanna, LeBron. That’s just a couple of people, but if you market it right, you put the right type of propaganda out, you may have people get comfortable like there is inclusion," he told The New York Times. "No, there isn't."

One thing that motivates him to this day? He told The Times, "Every day I wake up in the morning, I pray that I ain't gotta ask a white man for s—t." The good news? He probably will never need to for the rest of his life. Find out Diddy's net worth in 2024 and how he made it.

How did Sean Combs become famous?

Sean Combs had a difficult start. Born in Harlem and raised in Mount Vernon, New York, Combs lost his father, an associate of drug dealer (and American Gangster subject) Frank Lucas, when Combs was just 2 years old.

Combs graduated from high school in 1987 and enrolled in Howard University, where he majored in business. He dropped out after his sophomore year and became an intern at Uptown Records in New York City in 1990, where he helped develop talent including Mary J. Blige and Jodeci. He got fired in 1993 after a party he hosted with Heavy D led to a stampede that got people killed.

The setback was nothing Combs couldn't overcome. The same year, he launched his iconic label, Bad Boy Records, as a subsidiary of Arista Records, and signed Christopher "Notorious B.I.G." Wallace as one of his very first artists.

In addition to heading Bad Boy Records, Combs served as a producer for artists including TLC, and in 1997, released his own first single as Puff Daddy, "Can't Hold Me Down."

What is Sean Combs' net worth in 2024?

Sean Combs' net worth in 2024 is estimated at a whopping $800 million, down from estimates the previous year due mostly to the end of a highly lucrative partnership with multinational beverage company Diageo after a legal dispute.

How much is P. Diddy worth in 2024?

The artist formerly known as P. Diddy is reportedly worth $800 million in 2024.

How is Sean Combs so rich?

A big source of Combs' income is from Bad Boy Records, which was reportedly worth as much as $100 million at its height.

In 2013, Forbes reported that Combs' net worth jumped a whopping $200 million, thanks in part to his stake in AQUAhydrate water with none other than Mark Wahlberg and his launch of digital broadcaster Revolt TV. Combs stepped aside as Revolt TV chairman in late 2023 after being faced with three lawsuits alleging sexual assault.

He also owns the Sean John clothing label, which as recently as 2016 made $450 million in sales. He sold 90% of the brand the same year, but bought it back from bankruptcy in 2021 for a mere $7.5 million. However, Macy's, the line's exclusive retailer since 2010, announced in late 2023 it was phasing the brand out of its stores.

A major share of his wealth came from his partnership with Diageo in the brand Cîroc, which officially ended in January 2024.

How much money did Diddy make from Cîroc?

In two words: A lot. Combs reportedly made upwards of $60 million annually from Cîroc Vodka since 2007, when he began an equal partnership in the brand with its parent company, Diageo. Five years later, Combs and Diageo partnered again with Diageo on another brand, DeLeón Tequila.

In a dispute over the management of DeLeón, Combs sued Diageo in May 2023. The former partners resolved the issue, including parting ways entirely in January 2024.

How much does Diddy pay Sting?

Combs has paid Sting a mint for sampling The Police's "Every Breath You Take" for "I'll Be Missing You," his tribute to his late BFF and protégé Biggie Smalls—and Combs didn't clear the sample first.

"Those guys just take your s—t, put it on a record and deal with the legality later. Elton John told me, 'You gotta hear ["I'll Be Missing You'"], you're gonna be a millionaire,'" Sting recalled to Rolling Stone in 2003. "I said, 'I am a millionaire!' He said, 'You're gonna be a millionaire twice over!' I put a couple of my kids through college with the proceeds, and me and P. Diddy are good pals still."

Sting also later clarified that Combs did clear the sample after the song debuted.

In April 2023, Sting said he makes about $2,000 daily in royalties from the song, to which Combs replied that it was actually $5,000. Combs later tweeted that he was just kidding about the figure.

How much does Diddy make for "I'll Be Missing You?"

It's unknown how much Combs makes for the 1997 smash "I'll Be Missing You," but he has to share a lot of it with Sting, as well as with featured artists Faith Evans and 112.

The song won the Grammy Award for Best Rap Performance by a Duo or Group in 1998. It hit No. 1 in 26 countries and sold more than 8 million copies worldwide—and this was long before streaming existed when artists made a lot more money from singles.