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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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UK joins US in strike on Houthi target in Yemen for first time since Donald Trump re-elected

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UK joins US in strike on Houthi target in Yemen for first time since Donald Trump re-elected

The UK has joined US forces in attacking a Houthi target in Yemen for the first time since Donald Trump was re-elected.

The Ministry of Defence (MoD) confirmed the strikes took place on Tuesday as part of the government’s response to Houthi attacks on international shipping in the Red Sea and Gulf of Aden.

The ministry said careful intelligence analysis identified a cluster of buildings used by the Houthis to manufacture the sort of drones used to attack ships, located 15 miles south of the capital Sanaa.

RAF Typhoon FGR4s conducted strikes on several buildings using Paveway IV precision-guided bombs.

The planes had air refuelling support from Voyager tankers.

The ministry said the strike was conducted after dark to reduce the likelihood of civilians being in the area.

All the aircraft returned safely.

John Healey during the press conference.
Pic: Reuters
Image:
John Healey. Pic: Reuters

Defence Secretary John Healey said: “This government will always act in the interests of our national and economic security.

“Royal Air Force Typhoons have successfully conducted strikes against a Houthi military target in Yemen and all UK aircraft and personnel have returned safely to base.

“We conducted these strikes, supported by the US, to degrade Houthi capabilities and prevent further attacks against UK and international shipping.”

Read more from Sky News:
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Crush fly-tippers’ vans, government tells councils

Houthis a ‘persistent threat’ to ‘freedom of navigation’

Mr Healey said Houthi activities in the Red Sea are a “persistent threat” to “freedom of navigation”.

“A 55% drop in shipping through the Red Sea has already cost billions, fuelling regional instability and risking economic security for families in the UK,” he said.

“The government is steadfast in our commitment to reinforcing global stability and protecting British working people. I am proud of the dedication and professionalism shown by the service men and women involved in this operation.”

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US intensifies strikes on Houthis

It was the first time UK forces have struck a target in Yemen since May last year, the ministry confirmed.

The US has intensified its strikes on the Iran-backed Houthis under Mr Trump’s presidency, after his re-election in November 2024.

The group began launching attacks on shipping routes in November 2023 saying they were in solidarity with Palestinians over Israel’s war with Hamas in Gaza.

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Footage showing people being pulled from rubble has been released by Houthi rebels in Yemen

The strike came after a Houthi-controlled TV channel claimed a US strike killed 68 people at a detention centre for African migrants in Yemen on Monday.

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World

Ransacked and looted: What I found in my family home destroyed by militiamen

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Ransacked and looted: What I found in my family home destroyed by militiamen

The biggest city in the Sahel has been ransacked and left in ruins.

War erupted in Sudan’s capital Khartoum in April 2023 and sent millions searching for safety.

The city was quickly captured by the paramilitary Rapid Support Forces (RSF) after a power struggle with the Sudanese Armed Forces (SAF) for total control.

At least 61,000 people were killed from the fighting and siege conditions in Khartoum state alone.

Thousands more were maimed and many remain missing.

The RSF fled Khartoum’s neighbourhoods in caravans carrying the city’s looted treasures as the army closed in and recaptured it after two years of occupation.

The empty streets they left behind are lined with charred, bullet-ridden buildings and robbed store fronts.

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The once shiny skyscrapers built along the confluence of the River Nile are now husks of blackened steel.

The neighbourhoods are skeletal. Generational homes are deserted and hollow.

Damage around Khartoum
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Damage from fighting around Khartoum

Damage around Khartoum

Trenches snake the streets where copper electric cables were ripped out of the ground and pulled out of lampposts now overridden with weeds.

The majority of the 13 million people displaced by this war fled Khartoum. Many left in a rush, assuming it would only take a few weeks for peace to be restored.

My parents were among those millions and in the midst of the abandoned, looted homes is the house where I grew up.

Yousra Elbagir's family home was left in ruins by RSF troops
Image:
Yousra Elbagir’s family home was left in ruins by RSF troops

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Yousra said it was likely a bomb had previously fallen nearby and shaken the house at its base

A shell of a home

I have to strain my eyes to see the turn to my house. All the usual markers are gone. There are no gatherings of young people drinking coffee with tea ladies in the leafy shade – just gaping billboard frames that once held up advertisements behind cars of courting couples parked by the Nile.

Our garden is both overgrown and dried to death.

The mango, lemon and jasmine trees carefully planted by my mother and brother have withered.

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Image:
Structural damage to the outside of the home

The Bougainvillea has reached over the pathway and blocked off the main entrance. We go through the small black side door.

Our family car is no longer in the garage, forcing us to walk around it.

It was stolen shortly after my parents evacuated.

The two chairs my mum and dad would sit at the centre of the front lawn are still there, but surrounded by thorny weeds and twisted, bleached vines.

Yousra Elbagir's family home in Khartoum before RSF's takeover of the city
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How the home looked before Sudan’s civil war

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And how it looks now

The neighbour’s once lush garden is barren too.

Their tall palm trees at the front of the house have been beheaded – rounding off into a greyish stump instead of lush fronds.

Read more:
How recaptured palace is a significant sign of return to order
Sudan’s paramilitary chief announces rival government

Everyone in Khartoum is coming back to a game of Russian roulette. Searching out their houses to confirm suspicions of whether it was blasted, burned or punctured with bullets.

Many homes were looted and bruised by nearby combat but some are still standing. Others have been completely destroyed.

Yousra Elbagir's family home in Khartoum before RSF's takeover of the city
Image:
How the home looked before the war

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Image:
And how it looks now

The outside of our house looks smooth from the street but has a crack in the base of the front wall visible from up close.

It is likely a bomb fell nearby and shook the house at its base – a reminder of the airstrikes and shelling that my parents and their neighbours fled.

Inside, the damage is choking.

Most of the furniture has been taken except a few lone couches.

The carpets and curtains have been stripped. The electrical panels and wiring pulled out. The appliances, dishes, glasses and spices snatched from the kitchens.

Yousra Elbagir shows her mother pictures found in the home
Image:
Yousra shows her mother pictures found in the home

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The walls are bare apart from the few items they decided to spare. Ceilings have been punctured and cushions torn open in their hunt for hidden gold.

The walls are marked with the names of RSF troops that came in and out of this house like it was their own.

The home that has been the centre of our life in Sudan is a shell.

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Sudan’s civil war has left the country fractured

Glimmers of hope

The picture of sheer wreckage settles and signs of familiarity come into focus.

A family photo album that is 20 years old.

The rocking chair my mother cradled me and my sister in. My university certificate.

Yousra Elbagir finds her university degree certificate in the wreckage
Image:
Yousra finds her university certificate in the wreckage

Celebratory snaps of my siblings’ weddings. Books my brother has had since the early nineties.

The painting above my bed that I have pined over during the two years – custom-made and gifted to me for my 24th birthday and signed by my family on the back.

There are signs of dirt and damage on all these items our looters discarded but it is enough.

Yousra's parents pictured at home before they fled Khartoum
Image:
Yousra’s parents pictured at home before they fled Khartoum

Evidence of material destruction but a reminder of what we can hope will endure.

The spirit of the people that gathered to laugh, cry and break bread in these rooms.

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A portrait of Yousra Elbagir's grandmother which was damaged by RSF troops
Image:
A portrait of Yousra’s grandmother damaged by RSF troops

The hospitality and warmth of a Sudanese home with an open door.

The community and sense of togetherness that can never truly be robbed.

What remains in our hearts and our city is a sign of what will get us through.

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Politics

Australia’s finance watchdog to crack down on dormant crypto exchanges

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Australia’s finance watchdog to crack down on dormant crypto exchanges

Australia’s finance watchdog to crack down on dormant crypto exchanges

Australia’s financial intelligence agency has told inactive registered crypto exchanges to withdraw their registrations or risk having them canceled over fears that the dormant firms could be used for scams.

There are currently 427 crypto exchanges registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC), but the agency said on April 29 that it suspects a significant number are inactive and possibly vulnerable to being bought and co-opted by criminals.

The agency is contacting any so-called digital currency exchanges (DCEs) that appear to no longer be trading, and AUSTRAC CEO Brendan Thomas said they’ll be told to “use it or lose it.”

“Businesses registered with AUSTRAC are required to keep their details up to date; this includes details about services that are no longer provided,” he added.

Australia’s finance watchdog to crack down on dormant crypto exchanges
AUSTRAC CEO Brendan Thomas says scammers can use inactive crypto firms to appear legitimate. Source: AUSTRAC

Businesses wanting to offer Australians conversions between cash and crypto, including crypto ATM providers, must first register with AUSTRAC, which monitors for crimes including money laundering, terror financing and tax evasion.

The agency can cancel a registration if it has reasonable grounds to believe the business is no longer active or offering crypto-related services.

Ten firms have had their AUSTRAC registration canceled since 2019, with the most recent being FTX Express in June 2024, the local subsidiary of the collapsed crypto exchange FTX.

AUSTRAC to launch public list of registered exchanges 

Following its blitz on inactive crypto exchanges, AUSTRAC said it will publish a list of registered exchanges to help Australians verify legitimate providers.

Thomas said the goal is to make it harder for criminals to scam people and improve the integrity and accuracy of AUSTRAC’s register.

“If a DCE does intend to offer a service, they need to contact us otherwise we will cancel the registration and this information will be added to the register,” he said.

“Members of the public should feel confident that they can identify legitimate cryptocurrency providers that are registered and subject to regulatory oversight and that we are driving criminals out of this industry,” Thomas added. 

Related: Australia’s top court sides with Block Earner, dismisses ASIC appeal

In February, the Anti-Money Laundering regulator took action against 13 remittance service providers and crypto exchanges, with over 50 others still being investigated regarding possible compliance issues.

Six providers were refused registration renewal on the grounds that key personnel were either convicted, prosecuted, or charged with a serious offense.

Australia has yet to pass crypto regulations. In August 2022, the ruling center-left Labor Party initiated a series of industry consultations to draft a crypto regulatory framework.

In March, the government proposed a new crypto framework regulating exchanges under existing financial services laws ahead of a federal election slated for May 3.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

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