Diddy’s Business Empire Is Crumbling
Part of what has made Diddy’s downfall so fascinating is that he is one of the wealthiest and most influential celebrities in the entire world. So many people are connected to him in one way or another that it has made fans suspicious of their favorite celebrities who may or may not be involved in the singer’s alleged “freak-off” sex parties. However, celebrity colleagues aren’t the only ones suffering: the majority of the singer’s revenue streams have now cut ties, which threatens to crumble a business empire worth a whopping $820 million.
No Brand Will Work With Diddy
While Diddy’s recent arrest and the explosive allegations that came with it are a big part of his business downfall, that downfall actually began nearly a year ago. In November 2023, Cassandra Venture accused the controversial singer of abuse and rape. That ended some of Diddy’s partnerships, and his recent arrest has become a death knell for his empire: as Long Island University Business Professor Clayton Durant puts it, “There is no way a brand is touching Diddy — probably forever.”
One Of The Highest-Paid Celebrities
Previously, Diddy’s empire was comprised of a variety of sources, including money from an alkaline water company and a billion-dollar partnership with Diego’s Cîroc vodka and DeLeón tequila. He got an undisclosed amount by selling his stake in Sean John and received plenty of money from his own music and the catalog of his production company, Bad Boy Records. All of this adds up, and back in 2017, he earned $130 million (pre-tax), which officially made him one of the highest-paid celebrities in the world.
The Allegations Changed Everything
What happened to Diddy’s various business ventures, though, to threaten his financial empire? The singer began working with Diego in 2007, and this lucrative partnership earned Diddy over a billion dollars in their 15 years together. That relationship ended when the first wave of sexual assault allegations came out, and while the mogul pocketed $200 million for his DeLeón stake, Diego’s lawyers made it very clear they were permanently cutting ties, writing last year that Diddy “is well aware that these lawsuits make it impossible for him to continue to be the ‘face’ of anything.”
More Companies Cutting Ties
As for Sean John, Diddy sold his stake in the fashion company to Global Brands Group in 2016 for $70 million while still retaining a minority stake. Half a decade later, Global went bankrupt, and Diddy bought the fashion brand for $7.55 million, a mere 10 percent of its previous value. After the various lawsuits against Diddy emerged, Macy’s stopped selling Sean John, its website was deleted, and its Instagram page was wiped.
On top of that, alkaline water company Aquahydrate has seemingly cut all ties with Diddy. The musician also voluntarily stepped down from his media company/cable channel Revolt in the wake of his previous scandals, with the company confirming in June that he no longer had a stake. While he likely made money for that stake, this effectively endedyet another of his most reliable revenue streams.
Diddy’s Life Will Never Be The Same
Right now, Diddy isn’t exactly broke–he owns a private jet, a priceless art collection, and two homes that, combined, are worth a cool $125 million. But as his scandals grow and encompass more and more celebs (including Kanye West), he will have to start selling…in fact, he is currently trying to sell his Los Angeles home, and his lawyer claims he is trying to sell his jet. That last part may only be fitting, though, for a career that seems to have stalled out on the runway altogether.
Source: Business Insider
