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    Sean ‘Diddy’ Combs’s Empire: Winnowed, but Still Weighty

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    The music mogul’s business portfolio has shrunk, in part because of multiple sex abuse allegations, but his wealth remains a critical factor as his criminal case unfolds.In arguing to keep Sean Combs in jail until his trial on federal racketeering and sex trafficking charges, prosecutors have portrayed him as a lavishly wealthy, well-connected music mogul who would be well positioned to flee. In court papers, prosecutors cited media reporting that estimated his wealth at close to a billion dollars.But as Mr. Combs’s reputation has unraveled amid a wave of high-profile lawsuits and criminal charges, so has his business portfolio. Once a major brand ambassador and chairman of a media platform, he has been forced to withdraw from those roles. In June, several months before Mr. Combs was indicted, Forbes estimated his net worth at $400 million, down from $740 million in 2019.Mr. Combs’s fortune has been at the forefront of his public persona since the 1990s, when the success of his hip-hop and R&B label, Bad Boy Entertainment, meant he was known as much for his high-flying, champagne-popping lifestyle as the music he produced.One year ago, Mr. Combs, who is known as Diddy, was at the helm of an ever-growing portfolio: He was a record label founder, a liquor promoter, a cable TV and digital media chairman, a philanthropist and a fashion executive with a label called Sean John.Mr. Combs has gained prominence as a record label executive, a liquor promoter and the founder of a cable TV and digital media platform.From left: Theo Wargo/WireImage, via Getty Images; Stan Honda/Agence France-Presse — Getty Images; Dimitrios Kambouris/Getty Images for Revolt TV“He was a larger-than-life marketer,” said Dessie Brown Jr., an entertainment consultant who long viewed Mr. Combs as a model for building a career. “He always talked about being like a ringleader in a circus.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Sean Combs Sold Share of Tequila Brand for $200 Million

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      Mr. Combs, who was accused of sexual assault in several lawsuits, made the sale as he ended his long-term partnership with the liquor giant Diageo. He has denied wrongdoing.Sean Combs, the music mogul whose business empire has been upended by recent lawsuits accusing him of sexual assault and a federal investigation, sold his half of the tequila brand DeLeón for about $200 million this year, according to a public report for investors.Mr. Combs, who has vehemently denied allegations of sexual assault and sex trafficking, came to prominence as a hip-hop impresario but amassed much of his wealth from other businesses, including through work with the liquor giant Diageo. Their partnership, which was thrown into turmoil last year before the sexual assault lawsuits, is now over.Diageo disclosed in a recent financial statement that it had agreed on Jan. 16 to buy the 50 percent stake in the DeLeón tequila brand from Mr. Combs’s company, Combs Wine and Spirits, “for a total consideration of approximately $200 million.”Mr. Combs’s work with Diageo began more than 15 years ago when he began promoting its vodka brand Ciroc. He purchased DeLeón in a joint venture with the company about a decade ago, leveraging his celebrity to promote the tequila brand on social media, in interviews and as a prop in music videos.According to a court filing in June by a Diageo executive, Mr. Combs — who has also been known throughout his career as Puff Daddy or Diddy — amassed nearly a billion dollars from his relationship with the company.But the mogul’s partnership with the liquor giant began to fray, spilling into public last year. Combs Wine and Spirits sued Diageo and accused it of typecasting Ciroc and DeLeón as “Black brands” that should be targeted only to “‘urban’ customers,” limiting potential growth.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Sean Combs’ Cassie Lawsuit Settlement Was Only the Beginning of His Troubles

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      The hip-hop mogul denied sexual assault accusations in a bombshell suit in November. As more allegations piled up, his business empire, and reputation, faltered.It took just one day for Sean Combs to settle a bombshell lawsuit in November that accused him of rape and physical abuse. For a moment, it may have seemed that the hip-hop mogul’s lawyers had managed to quickly contain the reputational damage he faced.But it turns out that Mr. Combs’s problems were only beginning.For years, accusations of violence trailed Mr. Combs, who since the 1990s has been known as Puff Daddy and Diddy. The accusations had little impact, however, on his public persona as a raffish celebrity who was a fixture in gossip columns, a personal brand crystallized by the name of his music label: Bad Boy. But the suit in November, filed by his former girlfriend Casandra Ventura — who makes music as the singer Cassie — seemed to open the floodgates.A string of other lawsuits followed, accusing him of various forms of sexual assault and misconduct. Mr. Combs, 54, has vehemently denied all the allegations, but the graphic and detailed complaint by Ms. Ventura — and the headlines that followed — changed that narrative to a degree that now imperils Mr. Combs’s business empire and has made him a pariah in the music industry. And a raid by federal authorities at two of his homes on Monday suggested that authorities are considering possible criminal charges.Police officers blocked off the road during a raid of a home in Los Angeles tied to Mr. Combs on Monday.Jenna Schoenefeld for The New York TimesAs the allegations against Mr. Combs have accumulated, his lucrative business dealings — which, besides music, have included fashion, two liquor brands, a cable television channel and an e-commerce platform — have been threatened. And the employee ranks at Combs Global, his company, are now a fraction of what they were less than a year ago.A deal with the spirits giant Diageo was the source of much of Combs Global’s income and Mr. Combs’s wealth. But even before the recent accusations, there were signs that the collaboration was fraying. Mr. Combs sued Diageo last May, accusing the company of racism and failing to support a tequila brand they were partners in — allegations that Diageo denied in court papers. The suit was settled in January, after multiple sexual assault suits had been filed, with Diageo saying it had severed all ties with him.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More