Sean Combs Net Worth Explored as Rapper Diddy Repurchases Clothing Brand For $7.6 Million
3 min read
Sean John is yet again owned by P Diddy, who paid $7.5 million for the said brand! As a result, it appears that his Diddy net worth is much higher. Let’s all have a peek at it.
Diddy has already had his own bit of experience throughout the years. As a result, the rapper Diddy had no choice but to abandon the brand he created in 1998, Dinndy Sean John. On December 21, however, Diddy was able to acquire the company again and reclaim it to be his own.
Diddy Net Worth 2021
Diddy net worth is $885 million, according to sources and estimates. T he rapper, who became an actor and performer, rose to prominence while serving at Uptown Records
The label was founded by Diddy and The Notorious B.I.G. The duo was able to attract additional performers and gain recognition as a result. Usher, Lil Kim, TLC, Aretha Franklin, and others are among the notable musicians contracted to the company.
Following this, Diddy chose to release his own songs and has since become well-known for it. In addition, the rapper has dabbled in a variety of running a business.
He traded most of his shareholding to GCG USA, according to reports. Further as per the reports, the corporation acquired 80 percent of the stakes, leaving Diddy with only 20 percent.
Diddy’s net worth profited an approximate $70 million from this sale. The rapper founded the company in 1998 with the intention of creating a line of clothing that would represent the global hip-hop culture.
However, in 2016, he decided that selling the brand might be the best alternative. Jump forward to 2021, now Sean John appears to have had a change of opinion, bringing the brand back for $7.6 million.
Diddy Sean John
Following the parent business of GCG’s parent firm filing for Chapter 11 bankruptcy in Nyc. Diddy had intentions to acquire the brand again.
The rumor that the rapper was intending to repurchase the brand initially surfaced during the first week of December 2021. Diddy was among the biggest bidders, according to reports. Diddy bought back the Sean John brand on December 21, according to reports. To make this acquisition happen, the rapper had to compete alongside four other parties. After extensive discussions, He was eventually able to repurchase the brand for $7.5 million in cash.
“I founded Sean John in 1998 with the purpose of developing a premium brand. That broke convention and introducing Hip Hop to high-fashion on a global scale,” the rapper revealed to media. I’m eager to regain the authority of Sean John. Assemble a squad of innovative designers, and work with international partners to create the next story of Sean John’s history. After seeing how streetwear has developed to change the norms of style and affect society beyond divisions.”
Vanshika Batra
Vanshika is a Law student, blogger. She looks at life with endless possibilities and spreads that idea through her writing. She keeps on meandering and connecting with the world through her ideas framing into sentences.
