Sean “Diddy” Combs has reportedly put his Beverly Hills mansion on the market for $61 million.
This property was purchased for $40 million ten years ago.
The list, which will be available from September 8, comes amid recent controversy surrounding the hip-hop mogul.
A source told Page Six that Diddy’s West Coast estate will be up for sale starting September 8. They also claimed that the decision to sell Diddy’s residence “doesn’t come as a surprise to insiders, despite the recent controversy surrounding the hip-hop mogul.”
However, insiders revealed that the LA home is no longer Diddy’s primary residence.
“Combs settled down on Star Island in Miami years ago,” an insider told Page Six.
“Now that the children are grown… the man, who no longer has any children, has decided to sell the property, marking a pivotal moment in the Los Angeles real estate market,” he added.
The “I Need A Girl” hitmaker has decided to put his property up for sale after his Holmby Hills home was raided by the Department of Homeland Security in March in connection with an investigation into sexual assault allegations against him.
Located in a neighborhood known as “Billionaires’ Row,” Diddy’s mansion is surrounded by other famous wealthy figures, such as Kylie Jenner, and is close to the Playboy Mansion.
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Although he has settled the legal challenges relatively quietly, there is still a dark cloud hanging over his $1 billion fortune, as Fortune magazine notes.
This comes after a legal dispute with Diageo, an alcohol company, when they claimed that despite a successful partnership that generated nearly a billion dollars over 15 years.
The dispute between Diddy and the company does not involve any sexual assault allegations.
After the legal battle ended, Diddy won a $200 million settlement for his stake, resulting in Diageo taking full control of DeLeón.
Earlier this year, the mogul also sold his stake in Revolt, a hip-hop media business.
After selling some assets, Forbes revealed that Diddy has an updated net worth of $200 million.
His wealth comes from various ventures, including a small car collection, but his biggest source of income still comes from his music career.
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Tags Diddy, Sean Combs, P. diddy