Sean Combs popularly known as Diddy, has officially become Hip-Hop’s new billionaire, as he replaces Kanye West who reportedly lost $2billion in a day and dropped to an estimated net worth of $500million.
A new report by former Forbes entertainment editor, Zack O’Malley Greenburg, on Friday reveals that Diddy becomes the third hip-hop artiste to ever attain the billionaire status, after Jay-Z and West, with a total net worth of $1billion.
Asides his ‘Bad Boy Records’ label, Diddy also has his other businesses like Ciroc and Revolt to thank for his new billionaire status.
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West, who now goes simply by “Ye,” lost his billionaire status following his recent outburst of anti-Semitic remarks that prompted Adidas to pull the plug on the wildly lucrative footwear deal that made him a billionaire two years ago.
Jay-Z reclaimed the top spot on the list from West as hip-hop’s richest artist with a net worth of $1.5billon, since he became the genre’s first billionaire in 2019.