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Sean “Diddy” Combs aggressively marketed himself to the ultra-rich as he turned his edgy rap glamor into a billion-dollar fortune.

Billionaires told The Post he would cold email with business proposals, while other Wall Streeters acclaimed him as a “genius” and one CEO of the New York Stock Exchange called him an “inspiration” on a par with the Founding Fathers

But after federal investigators raided his Los Angeles and Miami homes as part of what law enforcement sources have told The Post is a sex-trafficking investigation led by the Southern District of New York, his career as an entrepreneur and investor is in jeopardy. Diddy has denied wrongdoing and called the probe “a witch hunt.”

Diddy was first declared a billionaire by hip-hop wealth expert Zack O’Malley Greenburg in 2022, but had coveted the status for years, telling Forbes in 1999, “I wanted to be very, very rich.”

Along the way he acquired a Rolodex littered with bold-faced names: he partnered with billionaire investor Ron Burkle; was “mentored” by hedge fund guru Ray Dalio; had his fashion line sold in Macy’s and Dillards; went into business with alcohol giant Diageo; opened the New York Stock Exchange with Este Lauder heir William Lauder; struck deals with Zac Posen and Liz Claiborne; 50% owned his own TV channel Revolt; launched a water range with Mark Wahlberg; and teamed up with Salesforce’s Marc Benioff to launch a black business marketplace.

In 2003, he sent the then owner of the Dallas Maverick Mark Cuban an email asking to design the uniforms for the NBA team, Cuban told The Post. They had never met so the cold email was a bold move.

For Diddy, it was a slam dunk to associate his new clothing brand, Sean John, with a pro sports team.

While Diddy took credit for the design, it was actually Diddy’s top designer who created it and Diddy signed off, Cuban said.

“We were an up and coming team at a time when pro sports teams didnt do anything with entertainment industry people,” Cuban said.

“We never even met… we never did any follow up or anything beyond that,” Cuban said.

For Diddy who had gone to Howard University to study business a single deal with an NBA team gave him credibility that he leveraged for even more dealmaking.

But it was a two-way street: Diddy also used his own cache the promise of entry into a world of celebrity to attract investment for his projects.

The same year as his Mavericks deal, Diddy got Burkle, a serial investor worth an estimated $2.9 billion according to Forbes, to inject $100 million into his fashion range Sean John.

It was to become Diddy’s longest-standing Wall Street relationship. After it was done, they partied with Michael Jackson while Sean John became a fixture in Macy’s and Dillards stores.

The next year the rapper teamed up with Este Lauder to create multiple fragrances, including one that was named “Unforgivable.”

The move gave him instant social cache. It let him rub shoulders, lucratively, with a New York social dynasty and in turn gave their decades-old brand a fresh, contemporary glamor associated not just with rap music, but his celebrity-packed White Parties in the Hamptons.

The company was thrilled with the partnership and chief operating officer William Lauder said Diddy was a “man who has built a phenomenal reputation as a tastemaker in music, in fashion and in business.”

The Lauder and Macy’s deals were celebrated with Diddy ringing the New York Stock Exchange’s opening bell in 2003, a sign of his power and influence.

Analysts said Diddy was one of the first celebrities to essentially license his name to brands and companies were able to draw on that to reach a more diverse group of customers.

In 2007, he was approached by the alcohol giant Diageo to become a brand spokesperson for its Croc vodka.

But he countered by proposing he become brand manager and chief marketing officer in return for a 50% profit share — and even had the business cards made up for his new role before the deal was done.

The vodka brand agreed. He missed no opportunity to promote it with the deal paying him nearly $1 billion over the next 15 years and turning Croc into a hugely successful brand.

The savvy negotiations led many in Hollywood to respect Diddy’s acumen. He was a master entrepreneur, one music business insider who said the rapper was widely respected in Hollywood as a businessman told The Post.

He was a super intelligent hardworking guy and a genius at brands… he turned Croc into a billion dollar business.

When he rang the NYSE bell in 2016 as a representative for Croc, then NYSE president Tom Farley said Diddy was “an inspiration” to him and similar to the Founding Fathers since they were both hustlers.

The comments were written up by Diddy’s own news website Revolt, which often reported favorably on its co-founder.

But the Diageo relationship ended in rancor in 2023 with Diddy accusing the multinational of racism; the case was settled in January with Diageo now sole owner of Croc and DeLen tequila.

In 2015, Diddy again teamed up with Burkle and also with boyband heartthrob turned movie star Mark Wahlberg, to buy now defunct water company AquaHydrate.

Once again, Diddy promoted it energetically, appearing on both coasts with Wahlberg.

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At least on paper, Burkle had the longest relationship with Diddy of any of his business partners. He has not commented on the allegations against Diddy.

Earlier this year Burkle, a one time close friend of former president Bill Clinton, was linked to another alleged sex trafficker when he was listed in an unsealed court filing naming people associated with Epstein. There is no suggestion Burkle engaged in wrongdoing.

Diddy also forged a relationship with Dalio, who as well as founding Bridgewater, the world’s largest hedge fund, has a personal net worth of $15.4 billion, according to Forbes, and has become a sought-after guru for his principle of radical transparency.

In 2017, at a Forbes gathering for the “100 Greatest Living Business Minds,” Diddy approached Bridgewater founder Ray Dalio and started peppering him with business questions.

Diddy was a frequent attender at business events. His celebrity rider included his own drink brands and “a young Thai coconut.”

Dalio tweeted in 2019 that Diddy “asked me to mentor him” and posted a slickly-produced video of a “recent mentor session of ours.”

?[H]es a real hero, Dalio said. And he wants to be a role model and help others.

“The greatest joy Im having now is helping other people to be successful, particularly helping people who can help a lot of people. Sean Combs, also known as @Diddy, is one such person,” Dalio posted, boosting Diddy to 1.3m followers looking for financial wisdom.

In 2021 Diddy teamed up with tech mogul Marc Benioff, CEO of Salesforce, who Forbes estimates to be worth $10.5 billion, to launch “SHOP CIRCULATE,” a marketplace for black-owned businesses.

That same year he launched a similar online marketplace, Empower Global.

“Building Black wealth starts with investing in Black-owned businesses and giving entrepreneurs access to the consumers needed to build sustainable companies that can thrive,” Combs said.

He told Billboard magazine last year that he wants to collaborate with Byron Allen, the TV mogul, and billionaire Hollywod director Tyler Perry to create a “black-owned media conglomerate,” although neither struck any deals with him.

After Diddy was accused by his ex Cassie of rape, sex trafficking, and domestic violence last November, and settled the suit without admitting her claims, brands began distancing themselves.

Macy’s, which still carried his fashion line, said they would stop selling his products. And 18 companies selling products on Empower are reported to have left the platform in recent months.

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Entertainment

Manchester’s Co-op Live arena finally opens after weeks of cancellations and setbacks

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Manchester's Co-op Live arena finally opens after weeks of cancellations and setbacks

Manchester’s beleaguered Co-op Live arena has finally officially opened its doors after weeks of setbacks, cancellations and postponements.

The venue was initially due to fully open with two Peter Kay stand-up shows on 23 and 24 April, but these dates were pushed back when problems emerged at a test event headlined by Ricky Astley.

The Co-op Live’s new opening night was then due to be 1 May when US act A Boogie Wit Da Hoodie should have performed – but this was cancelled at the last minute as fans queued outside.

The view inside the Co-op Live, as seen by Sky News reporter Shingi Maraike
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The view inside the Co-op Live, as seen by Sky News reporter Shingi Maraike

In the fortnight since, numerous other acts have been forced to postpone or move their Co-op Live gigs but the doors have finally opened to fans, with Manchester band Elbow taking to the stage this evening.

The show reportedly got under way a little late, with London band The WAEVE as the support act, the first to take to the stage as the massive arena began to fill with people.

Elbow took to the stage shortly after 9pm, with singer Guy Garvey shouting “let’s open this venue properly”, according to What’s On Editor for the Manchester Evening News Jenna Campbell, writing on X.

Concert goers arriving at the Co-op Live in Manchester for the Elbow concert. The troubled arena said it has completed an inspection and will open after a string of delays.  Peter Byrne/PA Wire
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Co-op Live bosses said inspections have taken place ahead of tonight’s gig. Pic: PA

Concert goers arriving at the Co-op Live in Manchester for the Elbow concert. The troubled arena said it has completed an inspection and will open after a string of delays. Pic: PA
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More than two weeks after Co-op Live should have fully opened, concertgoers are finally inside. Pic: PA

Guy Garvey of the band Elbow performs at the Platinum Jubilee concert in 2022. Pic: AP
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Elbow’s Guy Garvey. File pic: AP

A Boogie Wit Da Hoodie’s last-minute cancellation two weeks ago came after part of the venue’s ventilation and air conditioning system fell from the ceiling during a soundcheck.

More on Manchester

The venue’s boss said today that the accident could have been “catastrophic” if it had happened just 15 minutes later.

Read more: All the Co-op Live gigs cancelled or postponed

Signs Co-op Live is still a work in progress


Shingi Mararike

Shingi Mararike

North of England correspondent

@ShingiMararike

The fact that the opening of Co-op Live has been beset by issues was not lost on Dermot and Diane as they stared up at the sleek black structure with a capacity of 23,500.

The couple, who had travelled from Lancaster, said they already had a Plan B to go to the Trafford Centre in Manchester for a meal if the concert failed to go ahead. As an Elbow fan, Diane saw the concert as an early treat for her 60th birthday.

Another group who travelled from Norwich for five hours also had their own backup plan if things didn’t go as they had intended.

Less than a month ago, the arena still looked like a building site, with workers in hard hats surrounding it.

This evening, there was not a crane in sight as the queue began to build. As scheduled, the gates opened at 6.30pm and hundreds of people slowly streamed in through the security gates, scanning their own tickets on the way into an atrium that had a huge LED screen taking up most of one wall, flashing with the names of the headliners.

Some people walking into the arena audibly gasped at its sheer size. From the self-scanning tills to the lights lining the escalators, the venue is as modern and sleek as advertised, but there were also signs that Co-op Live is still a work in progress.

Some security and hospitality staff seemed to be playing catch-up with the technology, while police officers in the venue were deep in conversation with both staff and Manchester City Council. Meanwhile, a woman hovered around the atrium with a notepad to check all the screens were working.

For this multi-million-pound venue and its financial backers, the first crowds through the doors and first notes finally being played must have come with a huge sigh of relief.

PABest A view of the Co-op Live arena in Manchester. The £365 million venue, the biggest indoor arena in the UK, has postponed its opening numerous times after rescheduling performances from Peter Kay, The Black Keys, and A Boogie Wit Da Hoodie, as well as shows by Olivia Rodrigo scheduled for this Friday and Saturday. Picture date: Thursday May 2, 2024.
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Pic: PA

Tim Leiweke, chief executive of the arena’s operator Oak View Group, told BBC News: “They didn’t put the bolts in. It wasn’t visible to the eye and it fell out.

“So we [have since] got that double checked and triple checked. We’ve looked at thousands of bolts up in that ceiling now. We’ve looked at the life safety lines. And we were going to take our time to make sure we did this right.

“There was no way we were opening the doors until we checked every screw and every bolt and every one of those 95 shafts.”

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Co-Op Live delays explained

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A number of Elbow fans at the venue admitted they were feeling “apprehensive” ahead of the gig.

“When you go anywhere you want to know about the structural integrity of the place you’re going to,” said Samantha, 51, who did not want to share her surname.

“I know all venues have to start somewhere but as long as they say everything is fine, that’s as reassuring as it can be.”

With a capacity of 23,500, Co-op Live is the UK’s latest indoor arena and it cost £365m to build.

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Politics

UK to spend £140m on aid to Yemen to help ‘most desperate people in the world’, deputy foreign secretary says

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UK to spend £140m on aid to Yemen to help 'most desperate people in the world', deputy foreign secretary says

The UK will spend £140m next year helping starving people in Yemen who are suffering one of the most “acute humanitarian crises in the world”, the deputy foreign secretary has said.

Speaking exclusively to Sky News, Andrew Mitchell raised the plight of the Yemeni people, whom he said were living “on the margins of subsistence” following nearly a decade of civil war.

Mr Mitchell promised that the UK’s bilateral support for Yemen would increase by 60% and that any money provided would be designed “directly to help people who are in a very perilous humanitarian position”.

“It is Britain doing good, going to the rescue of the most desperate people in the world and helping them,” he said.

The deputy foreign secretary’s intervention comes following months of reporting from Yemen from Sky News’ special correspondent Alex Crawford, who has detailed how the war in Gaza has had an adverse impact on the Yemeni people.

Yemen’s Houthi militants, backed by Iran, have targeted ships in the Red Sea region which they claim are linked to Israel or helping its war effort.

The repeated missile and drone attacks by the Houthis since November have forced international cargo ships to be re-routed and take longer, more costly journeys around the Cape of Good Hope that has pushed up the price of goods in Yemen – already one of the poorest countries in the world.

More on Yemen

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The Houthi actions are wreaking havoc on global shipping routes but has seen them surge in popularity at home.

However, the Houthis’ actions, while condemned by the West, have prompted demonstrations of support in the streets of Yemen, where solidarity is expressed with Palestinians in Gaza.

Mr Mitchell said 70% of the food that gets into Yemen goes through ports used by international shipping and was therefore being put at risk by the Houthis’ actions.

“It is often impeded in getting there by what the Houthis are doing in disrupting the flow of international shipping,” he explained.

“So that is very bad – and, an example of the terrible effect of the Houthis are having on their own people as well as on the wider international community.”

Read more:
Babies are starving as Yemen teeters on brink of collapse
Alex Crawford: Inside Yemen – the forgotten war

Asked what the international community was doing to bring about peace in Yemen, Mr Mitchell replied: “Well, Britain holds the pen, in the jargon of the trade, at the United Nations. So we lead on Yemen.

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Sky’s special correspondent Alex Crawford and her team report from Yemen.

“And, recently we’ve been trying to make sure that the negotiations, which the UN special representative has been involved in, are successful.

“There’s a very different situation now from what there was a couple of years ago with the Saudis. And there is a peace process that is there for the taking.

“We urge all the different parties who are involved in Yemen to get involved in that peace process, to bring an end to a terrible situation, which, above all, millions of ordinary people in Yemen are suffering from.”

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US

Michael Cohen tells trial he lied and bullied for ex-president and was ‘knee deep’ in Trump ‘cult’

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Michael Cohen tells trial he lied and bullied for ex-president and was 'knee deep' in Trump 'cult'

Michael Cohen said he had been “knee deep into the cult of Donald Trump” as he testified for a second day in the ex-president’s trial.

As Trump‘s defence tried to paint the former lawyer and ‘fixer’ as a bitter and fame-hungry former acolyte, he denied being obsessed by his former boss but said he had once “admired him tremendously”.

He is testifying in the case about hush money payments to ex-porn star Stormy Daniels in an attempt to cover up an alleged sexual encounter in 2006.

Trump trial – Day 17 as it happened

Such payouts aren’t illegal, but Trump is accused of falsifying business records to hide it – a claim he denies.

He told the court on Tuesday that loyalty was the reason he kept lying about the payment when it came out in the media.

In 2016 he described Trump as kind, humble, honest and genuine.

More on Donald Trump

The defence asked whether he had believed what he was saying.

“At the time, I was knee-deep into the cult of Donald Trump,” he responded, adding: “I was not lying, no, that’s how I felt.”

Mr Cohen admitted he “missed Trump” at times after he became president.

They have also pointed to hundreds of media appearances, podcasts and interviews in which the disgraced lawyer has mentioned him.

Michael Cohen (right) leaves his apartment building in New York on Tuesday. Pic: AP
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Michael Cohen (right) was once a fiercely loyal confidant of the ex-president. Pic: AP

His credibility was under attack as Mr Cohen has previously admitted lying under oath.

The 57-year-old was jailed after pleading guilty in 2018 to charges relating to the hush money payment and other unrelated offences.

He said that after a FBI raid on his home the same year, Trump had messaged him: “I am the president of the United States, everything is going to be okay, stay tough”.

Read more:
Porn stars, sex scandals and zzzs: A to Z of Trump trial

Donald Trump denies the liaison with Stormy Daniels and says Mr Cohen acted on his own initiative when he made the payment.

The former lawyer denied that claim in earlier evidence, saying “everything required Trump’s sign-off”.

Donald Trump on day 17 of his hush money trial. Pic: Reuters
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Mr Trump, who denies the charges, faces several other trials. Pic: Reuters

‘I violated my moral compass’

Mr Cohen – who once said he would take a bullet for his boss – admitted at the end of questioning on Tuesday that he “violated my moral compass” while working for Donald Trump.

“I regret doing things for him that I should not have,” he told the New York court. “Lying, bullying people in order to effectuate the goal.

“I don’t regret working for the Trump Organisation – as I expressed before, [those were] some very interesting, great times,” he added.

“But to keep the loyalty and to do things that he had asked me to do, I violated my moral compass, and I suffered the penalty, as did my family. That is my failure.”

On Monday, the court heard him testify about setting up a shell company to make the $130,000 hush money out of his own money.

Stormy Daniels, seen here in January, received a $130,000 payment from Trump's lawyer Pic: AP/DeeCee Carter/MediaPunch /IPX
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Stormy Daniels has also testified in the case. AP/DeeCee Carter/MediaPunch /IPX

Prosecutors say Trump later paid the money back and covered it up by recording it as a legal retainer fee.

He faces 34 counts of falsifying business records over the claims.

Trump – who will take on Joe Biden in his bid to become president again in November – is unlikely to face a custodial sentence if found guilty.

His other cases are potentially more damaging but mired in delays.

They concern allegations of keeping stacks of secret documents after leaving office and trying to overturn his 2020 election defeat. He denies the claims.

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