Sean 'Diddy' Combs Net Worth when the test begins

Sean “Diddy” Combs' long-awaited criminal proceedings began today with the selection of the jury when the rap mogul for sex trade, extortion and means of transport for prostitution is charged.

Once considered one of the richest artists in the music industry, Combs' financial status has become less clear due to the increasing legal problems and the public counter reaction.

Why is it important

The financial decline of Combs comes in the middle of one of the highest criminal proceedings in the entertainment industry. He is in prison before life when he is convicted. The attempt not only affects the freedom of Combs, but also on the future of its business interests.

Combs has not guilty to all criminal counts and denies any misconduct. Newsweek has turned to Combs representative to receive comments.

What to know?

According to Combs, Combs had an estimated net value of 740 million US dollars in 2019 Forbes. The outlet now estimates that Combs is worth 400 million US dollars. The decline follows a series of civil lawsuits, a charges by the federal government and the sale or a reduction in key assets in its realm.

Combs is the founder of the Bad Boy Record record label. At its climax, the label earned 130 million US dollars every year, so Business insider. He also made $ 100 million of his own music, Assets Registered in March 2024.

While Combs has been active in the music industry for decades, it is not its only income current. His clothing brand Sean John achieves annual income of more than 525 million US dollars. Assets reported.

In 2007 he joined a partnership with the Alcoholic beverage area Diageo to increase the sales of the Cîroc Vodka and Deleón Tequila brand. The agreement included a 50/50 division at this time, but Diageo now has 100% of Cîroc and Deleón. According to COMBS, it is estimated that Combs deserves 60 million US dollars from the deal annually, so Assets.

Combs ventured into acting in the 2010s and signed a contract of $ 185 million in November 2022 to buy cannabis individual trading in the United States.

Combs also benefited from Revolt TV, the media company that he launched in 2013. Since then he has sold his share of Revolt.

Combs has houses in Florida and California. Its villa in Miami Beach will be estimated to be worth over 37.4 million US dollars. His villa in Los Angeles is currently for sale with 61.5 million US dollars.

The Federal Prosecutor's Office say that from 2004 to 2024 “freak -offs” coordinated, in which women were supposedly put under drugs and forced to sex files. Combs also faces dozens of civil lawsuits.

What people say

Combs, in a 2023 interview with the Associated Press: “My dreams have always been to be successful in music, to be obsessed with fashion and the biggest black series entrepreneur who ever lived.”

Combs' lawyers in a statement received by CNN in October 2024: “Mr. Combs and his legal team have full confidence in the facts, their legal immune system and the integrity of the court procedure. The truth will prevail in court: that Mr. Combs has never sexually attacked someone – adult or minor, man or woman.”

What happens next

The opening statements are planned for May 12th before the Federal Court of Manhattan, and the procedure is expected to take eight to ten weeks.

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