What does Diddy own? Exploring how the rapper made his money as he replaces Kanye on wealthiest rappers list

American rapper Diddy has managed to replace Kanye West on the list of the wealthiest rappers released by former Forbes editor Zack O’Malley Greenburg on October 28, 2022.

Some of the other famous names on the list include Jay-Z, Berner, and Dr. Dre.

Also known as Sean Combs, the rapper managed to replace Ye on the list with a net worth of around $1 billion. Diddy has earned a lot from his Ciroc partnership with Diageo, which earns him around $60 million a year. He has also earned wealth as a partial owner of DeLeon Tequila and is a major shareholder in the media network Revolt.

West lost out on a few deals recently for his anti-Semitic and anti-Black comments, which decreased his net worth from $2 billion to $500 million, also costing him his position in the list of the wealthiest rappers.

The Donda rapper specifically suffered huge losses after sportswear giant Adidas cut their ties with him and issued a statement on the same, saying that they "do not tolerate anti-Semitism and hate speech." The statement further mentioned that Ye’s comments and actions were "unacceptable, hateful, and dangerous and violate their values of diversity, inclusion, mutual respect, and fairness."

West, whose Instagram account was restricted after his anti-Jew antics, recently got his social media handle back. Since returning, he posted about he "lost 2 billion dollars in one day and is still alive."

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Diddy is also a successful entrepreneur

Diddy has accumulated wealth from his musical career and business deals (Image via Gabe Ginsberg/Getty Images)

Diddy has managed to earn a huge fanbase for himself all these years by delivering several hit albums and singles. However, he has also been popular as an entrepreneur. Forbes Magazine reported in May 2017 that he earned around $130 million. The rapper's estimated net worth was around $740 million in 2019.

He launched a clothing line, Sean John, in 1998, with businessman Ronald Burke investing $100 million in his company in 2003. Diddy introduced a men’s perfume called "I Am King" to his brand in November 2008, featuring Israeli model Bar Refaeli in the advertisements.

Diddy is also the head of an umbrella company, Combs Enterprises, and is the owner of two restaurants called Justin’s. He has also designed the Dallas Mavericks alternate jersey and assisted in the development of the Circo Vodka brand in 2007 with a 50% share in profits. He then acquired the clothing line Enyce for $20 million in October 2008.

The 52-year-old has an equity stake in Revolt TV, which started broadcasting in 2014. He then joined actor Mark Wahlberg and businessman Ronald Burkle in 2015 to purchase a majority holding in a calorie-free beverage for athletes, Aquahydrate. He became an investor in PlayVS in 2019 which offers an infrastructure for competitive gaming in US high schools.

The rapper formed his record label, Bad Boy Records, in 1993. His first album, No Way Out, was released in 1997 and he continued his successful journey with Forever, The Saga Continues…, Press Play, among others.