After Selling A Majority Stake In Sean John, Is Puff Daddy Now A Self-Made Billionaire From Harlem, USA?

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Sean Combs Shows His Sophisticated Side With a Sean John Fragrance4

Some people thought that it was over for Sean Combs also known as Puff Daddy, P. Diddy and¬†Diddy when he was fired as an A&R executive at Uptown Records by Andre Harrell. He soon founded Bad Boy Entertainment (also known as¬†Bad Boy Records)¬†in 1993. The powerhouse label turned into an instant success — launching the careers of Biggie Smalls, Craig Mack, Total, Faith Evans, Mase, The Lox, French Montana,¬†Cassie and many more. The label also worked closely with Mary J. Blige and Lil Kim.

In 1998, people laughed when Puff Daddy launched a fashion line, then his Sean John label changed the industry.¬†Last week, we originally reported that “Global Brands Groups Holding Ltd.¬†acquired a majority stake in Sean John. Founder Sean ‚ÄúPuff Daddy‚Äú Combs will retain a minority stake and continue to be involved in the marketing for the 18-year-old brand” (see it here).

Exact terms of the deal between Global Brands and Puff‘s men‚Äôs lifestyle brand¬†Sean John were not disclosed, but we could confirm that it also includes Combs‘¬†Enyce brand.

After selling a majority stake (which is believed to be around 80%) in¬†the American-based brand, it brings us to believe that Puff Daddy is now a self-made billionaire from Harlem, USA and here’s why.

Last May, creditable¬†business website, Forbes.com, reported that Puff has an “estimated net worth of $750 million“. The bulk of his fortunes comes from Combs¬†Enterprises¬†— Bad Boy Entertainment, Bad Boy Management,¬†Sean John, Sean Fragrance, Diageo’s Ciroc vodka,¬†DeLe√≥n Tequila, Combs Wine & Spirits, AQUAhydrate, The Blue Flame Agency, REVOLT Films and REVOLT MEDIA.

According to WWD, “Sean John has annual retail sales of around $450 million“. Even though it hasn’t been confirmed, we believe that Puff most likely¬†received a payout of around $300 million once the transaction was completed. We came up with that number because in 2007, Jay Z sold Roca Wear clothing to Iconix Group for $204 million in cash and Sean John is now worth more than what Roca Wear was worth back then.

Add that figure ($300 million) to Puff‘s¬†already sky high $750 million net worth, the entrepreneur definitely passed the $1 billion mark.

The sky’s is not the limit, it’s just the view. Chase your dreams and make sure you’re running fast enough.

Photos Credit: Elton Anderson | Photo by Chelsea Lauren

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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.