After the scandal involving Diddy, his fortune declined significantly
In 2019, Forbes estimated Diddy’s net worth at approximately $740 million. However, shortly before his arrest this year, the company revised its projection to $400 million — still a significant figure, but representing a substantial decline.
Due to his high net worth, prosecutors believe Puff Daddy has a high likelihood of fleeing if he is granted the right to freedom. The authorities, in fact, cited these values during the hearings to reinforce concerns about the possibility of escape.
Furthermore, Diddy’s business has also been affected due to the fallout from the case. Alcoholic beverage giant Diageo, for example, sold shares of Revolt, the rapper’s media company, in response to recent events.
For O’Malley Greenburg, former Forbes editor and expert on Diddy’s finances, the rapper’s financial situation was once much more favorable. “I firmly believe he was once a billionaire. I firmly believe he is no longer one,” he said.
Source: Terra
I am Amanda Gans, a motivated and ambitious professional in the news writing industry. With over five years of experience in this field, I have developed an eye for detail and an ability to craft stories that captivate readers. I currently write for Gossipify, where I specialize in beauty & celebrities news. My passion lies with exploring the world of beauty through writing, interviewing experts and developing articles that are both informative and entertaining.
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