The empire that was Sean “Diddy” Combs was once valued at a staggering billion dollars. However, this all changed when a torrent of sexual misconduct lawsuits began in November 2023. Many companies that once thrived by associating their names with Diddy started distancing themselves from the founder of Bad Boy Records. Despite Diddy maintaining his innocence through his attorney in light of his arrest for sex trafficking, it’s evident that his wealth and power have significantly diminished.

Hailing from Harlem, New York, Diddy was once a beloved figure in the city. Just a year before his arrest in September 2023, he was awarded a key to New York City by Mayor Eric Adams, who is currently facing his own controversies. However, after a surveillance video was released showing Diddy brutally assaulting Cassie as she attempted to escape from their hotel room, the backlash was swift. Mayor Adams promptly requested the key back. In a statement, he expressed his deep disturbance by the assault video, stating, “I strongly condemn these actions and stand in solidarity with all survivors of domestic and gender-based violence. Our city has worked tirelessly to ensure that survivors are heard and seen by our administration.”

In response to the public outrage, Diddy released an apology video. Although he did not mention Cassie’s name, he claimed that his horrific actions were a result of a difficult time in his life. “I was fed up; I mean, I hit rock bottom,” he said. “I make no excuses. My behavior in that video is inexcusable. I take full responsibility for my actions. I was disgusted then when I did it, and I’m disgusted now. I sought out professional help, went into therapy and rehab, and asked God for His mercy and grace. I’m so sorry, but I’m committed to being a better man each and every day. I’m not asking for forgiveness; I’m truly sorry.”

Diddy returned the key to New York City on June 10. Another U.S. city, Miami, wanted nothing to do with the disgraced mogul. In 2016, Miami Beach Mayor Philip Levine had declared October 13 as “Sha Diddy Combs Day” in honor of the producer, who has ties to the area, including a mansion on Star Island. However, that mansion, along with his La Mansion, was raided by federal agents in March of this year. Just three months later, on June 26, the Miami Beach Commission revoked the proclamation, stating, “Upon reflection, the mayor and City Commission have determined that recognizing October 13, 2016, as Sha Diddy Combs Day is no longer in harmony with the city’s values of safety, community well-being, and respect.”

In the entertainment world, Hulu was developing a reality show about Diddy and his family, tentatively titled “Diddy Plus 7.” The show, produced by James Corden’s production company, was supposed to follow the lives of Diddy and his seven children. However, in December of last year, the project was scrapped due to the sexual misconduct lawsuits that surfaced in November.

The Capital Preparatory School in Harlem, a public tuition-free charter school co-founded by Diddy, also severed ties with the mogul. Co-founder Dr. Steve Perry released a statement announcing the decision: “Following a comprehensive evaluation, a decision has been made to end the partnership between Capital Preparatory Schools and Sean Combs.” This news arrived shortly after Diddy stepped down as chairman of Revolt TV, the network he co-founded in 2013. In a statement posted to the network’s Instagram page, it was noted, “While Mr. Combs had no operational or day-to-day role in the business, the decision helps to ensure that Revolt remains steadfastly focused on our mission to create meaningful content for the culture and amplify the voices of all Black people through this country and the African diaspora.”

At that time, Diddy’s decision to step down as chairman was described as temporary and did not appear to be a full resignation. However, months later, it was reported that he had sold all of his shares of Revolt TV to an anonymous buyer for an undisclosed amount. On June 4, news broke that Diddy had sold his majority stake in Revolt, making the new owners the chief executive and their coalition of employees, who no longer list Diddy as a client on their website.

In July 2023, Diddy announced the launch of Empower Global, a curated immersive e-commerce platform intended to help consumers discover and buy products exclusively created and sold by Black entrepreneurs. Diddy founded the company in 2021 after investing $20 million into the platform. However, by the end of the year, nearly 20 companies had terminated their partnerships with Empower Global, with one company stating that they made the decision after Cassie filed her lawsuit against Diddy.

While reports indicated a spike in Diddy’s music streams following his arrest—an 18.3% increase in on-demand streams—his music will no longer be heard in Peloton classes. The exercise company announced in June that they would pause the use of his music in their workout classes. Peloton did not indicate if they would remove his music from past classes, but confirmed that their instructors would no longer use his music in any newly produced classes.

Even Howard University, an institution Diddy once cherished, decided they did not want his name associated with them anymore. Diddy attended Howard from 1987 to 1989 and received an honorary degree from the prestigious HBCU in 2014. However, following the release of the brutal assault video in June, the university’s Board of Trustees unanimously voted to revoke the honorary degree. They stated, “Mr. Combs’ behavior captured in a recently released video is fundamentally incompatible with Howard University’s core values and beliefs,” and deemed him no longer worthy of the institution’s highest honor. Additionally, the university announced the cancellation of a scholarship established in his name in 2016 and the return of his $1 million donation to the program. Howard University also canceled a 2023 pledge agreement with the Sean Combs Foundation, noting that no money would be returned as no payments had yet been made.

Diddy was also a regular at fashion events globally, even founding his own clothing line, Sean John, in 1998, and establishing a distribution deal with Macy’s in 2010. However, in November of last year, Macy’s announced they would be pulling Sean John from their department and online stores due to the sexual assault allegations against Diddy, effectively ending their 33-year partnership.

Despite many companies distancing themselves or severing ties with him, Diddy remains a wealthy man, with an estimated net worth still in the hundreds of millions. However, it’s likely that much of his wealth is tied up in legal battles, fighting his federal sex trafficking case and addressing the nearly dozen lawsuits he still faces.

I’m now joined by criminal defense attorney Serena Townsen. Serena, it’s always great to see you. Before we dive into the empire that is Sean Diddy Combs, I’d like to hear your reaction to his arrest. We’ve spoken in the past, and you anticipated this, but what were your thoughts once it actually happened?

“I wasn’t necessarily surprised. We kind of saw this coming after search warrants were executed; that usually indicates something serious. However, the details in the indictment were pretty eye-opening and alarming. I think the public is appalled by what we’re seeing and hearing. Even though we might have expected an arrest, the details unfolding little by little are concerning.”

Diddy was once a man whose name carried immense power. While he was valued at a billion dollars, he’s now estimated to be worth between $600 to $700 million, which is still a substantial amount. Last week, two federal judges decided to keep him behind bars until trial, partly due to allegations of witness tampering and concerns he might flee. What are your thoughts on his wealth despite many businesses cutting ties with him in the wake of the lawsuits and the brutal assault video released by CNN?

“He’s involved in a variety of ventures. While he started as a music mogul, he’s built an empire through his clothing line, Sean John, and other ventures. He’s been a trailblazer in that respect, but unfortunately, if he engaged in illegal activities through his criminal enterprise, that complicates things. A judge will likely question whether he can be trusted to return to court and face these serious allegations, and the answer seems to be no.”

Are you surprised that some companies waited until the assault video came out to cut ties with him, rather than reacting when Cassie first filed her lawsuit?

“That speaks to the mindset of people in business. It’s unfortunate that very few are willing to do the right thing or listen to victims. This is a clear example where a credible woman made serious accusations against an individual. While I understand the principle of innocent until proven guilty, it’s concerning that no one listened to her or others who might have come forward until it became public knowledge.”

Diddy’s attorney claimed they were aware of the federal investigation and that an indictment was imminent. Do you think his actions—selling shares, trying to offload his home, even giving back music rights to artists—were motivated by this knowledge?

“Absolutely. I believe he’s receiving advice from knowledgeable individuals who are likely advising him to distance himself from his assets and insulate himself financially. The government will aim to seize profits from the alleged criminal activities, so if he can shed assets and move money, he might shield himself from significant financial loss.”

Diddy faces accusations of horrific actions not only against women but also against men in this sex trafficking case. Yet, he’s also been involved in community support for Black-owned businesses and education. How do you reconcile this duality?

“People are complex; nobody is purely good or evil. It’s clear that he’s done good things for the community and likely helped many people in his life. However, his actions in this case paint a troubling picture. We’ve seen this duality in many public figures. Society often struggles with separating someone’s good deeds from their wrongdoings.”

In your view, how does the ongoing legal case and Diddy’s response to it impact his reputation?

“The ongoing legal case and the allegations will have a lasting impact on his reputation, regardless of the outcome. Even if he’s acquitted, the stain of these allegations will linger. People will remember his name in association with these claims, and his legacy is tarnished.”

We’re just getting started. Join me in the next segment as we continue our discussion about Sean Diddy Combs, delving into his alleged criminal enterprise and what it means for his future.