What is Sean Combs’ net worth? ‘Diddy’ arrested and charged with sex trafficking and racketeering

Sean Combs’ reputation as a rapper and music icon has been destroyed after his history of an abuser came to light.

On Monday, Combs was taken into custody in New York City by federal agents from Homeland Security Investigations, sources informed ABC News. He is facing charges that include sex trafficking through force, transporting individuals for prostitution, and a racketeering conspiracy. The indictment, revealed on Tuesday, claims that Combs operated an enterprise engaged in sex trafficking, forced labor, kidnapping, arson, and various other offenses.

What led to these charges for Sean Combs?

Known as both P. Diddy and Puff Daddy, Combs was recently seen on a video obtained by CNN battering his then-girlfriend, Cassie Ventura. In a video obtained by CNN, Ventura, who had previously sued Combs accusing him of rape - was seen being dragged down the corridor of a hotel by her hair. It was later reported that Combs paid an undisclosed amount of money to settle Ventura’s claims out of court - just one day after she filed the lawsuit. The video came after the March raid of his properties in Los Angeles and Miami as part of a sex-trafficking investigation.

Now, Combs is back in the spotlight after a man who accused the rapper of sexually assaulting him has won a $100m judgment after ‘Diddy’ failed to contest the allegations in a Michigan civil courthouse. The Guardian reports that “Plaintiffs receive default judgments in their favor when defendants fail to take action in response to cases brought against them”.

Combs’ attorney, Marc Agnifilo, released a statement denying that his client knows the plaintiff, Derrick Lee Cardello-Smith (51). Agnifilo said that Cardello-Smith had committed “fraud on the court” and was confident that the judgment against Combs would be overturned.

Cardello-Smith claims he met Combs while working in the restaurant industry near Detroit. The Detroit Metro Times reports that Cardello-Smith alleged that Combs drugged and sexually assaulted him at a 1997 party. The 51-year-old, who is currently in jail, testified that Combs had offered him $2.3 million to withdraw the lawsuit.

Who is Sean ‘Diddy’ Combs?

The name P. Diddy remains a highly influential figure in the music industry, particularly in the realms of hip-hop and rap who initially gained prominence in the early 1990s as a talent manager for artists such as Mary J. Blige and Jodeci. His debut album ‘No Way Out’ won the Grammy Award for Best Rap Album in 1998

He later founded his own record label, Bad Boy Records, which became home to some of the most successful artists in hip-hop and R&B, including The Notorious B.I.G., Faith Evans, and Mase. He also produced tracks for the likes of Mariah Carey, Usher, Lil’ Kim and Boyz II Men, to name but a few, while Combs himself released several successful albums under the his various names.

Beyond music, he’s expanded his business ventures into fashion, acting, and entrepreneurship. His ventures include the clothing line Sean John, the reality TV show “Making the Band,” and the vodka brand Ciroc, among others. Combs was widely regarded as one of the most successful and influential figures in the entertainment industry.

It’s safe to say that his reputation was destroyed with the news that the US Department of Homeland Security’s federal authorities conducted a search warrant operation, raiding his properties in Los Angeles, California; Miami, Florida; and New York.

What is Puff Daddy’s fortune?

Diddy has a reported net worth of $800 million, which makes him one of the richest rappers ever, although his fortune has been amassed from more than just his dealings in music, as stated above.

Combs has brought in over $1 billion in wealth in the last two decades, largely through strategic business ventures. His most successful partnership was with liquor giant Diageo, where he played a key role in popularising Ciroc vodka and DeLeon tequila.

Legal filings revealed that Diageo paid Combs $1 billion between 2007 and 2023 for his contributions, potentially surpassing earnings from his music career. While the relationship ended in January 2024, it was actually back in June of 2023 when the cracks started to appear. Reports say that Combs sued Diageo before the drinks companied severed ties in the same month, countersuing in October of the same year.

Combs’ other entrepreneurial activities have seen him involved in the clothing line ‘Sean John’, he has a major equity stake in Revolt TV, and he purchased a majority holding in beverage company Aquahydrate. He also became a major investor in gaming infrastructure company PlayVS.