Straight To The Bank: Diddy To Become Hip-Hop’s First Billionaire

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Having a deal with Ciroc Vodka and stakes in clothing lines such as Sean John and Enyce, marketing firm Blue Flame and record label Bad Boy, Diddy sure is on his way to becoming the first Hip-Hop billionaire. His net worth is $550 million. Forbes recently did a story titled “Future 400,” a group of entrepreneurs that they believe will soon become billionaires. Music Mogul Diddy made the list with the creators of Google, Facebook, Blue Media, Dropbox and Go Daddy. Diddy receives an annual cut of profits and a big chunk of cash if the Ciroc brand is ever sold.

According to NecoleBitchie.com, Diddy teamed up with alcohol conglomerate back in 2007 with the aim of perking up sales for the fledgling spirit. “In 2007 sleepy Ciroc was moving cases at a rate of 60,000 per six months, or 120,000 per year. In 2009 Diddy’s second year with the brand, Ciroc moved 400,000 cases. This year Ciroc is on pace to sell more than 1 million cases.” -Necole Bitchie

Source: Forbes

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Donovan

Donovan is the CEO and Editor-In-Chief of www.dmfashionbook.com. For all general inquiries please email don@dmfashionbook.com Donovan has a BA in Journalism & Media Studies from the prestigious Rutgers University. He's currently studying entertainment and fashion law.