What happens to Sean ‘Diddy’ Combs’s mansion, jet and assets if he’s found guilty? What we know
Sean “Diddy” Combs once claimed to be a billionaire but the fallen music mogul is unable to sell a mansion that could be used to settle multiple lawsuits in his sex-trafficking trial.
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The sex-trafficking trial of Sean “Diddy” Combs has entered its second week,
Following nearly a week of gruelling testimony from Casandra “Cassie” Ventura, who was partners with Combs for more than a decade, enjoying his lavish lifestyle, federal prosecutors are trying to build a broader racketeering charge that accuses Combs of heading a criminal enterprise that was involved in arson, kidnapping and bribery.
Combs, 55, also faces sex trafficking charges. If convicted, the one-time rich and powerful figure in the music industry could land in prison for life.
He has pleaded not guilty on all counts and vehemently denies all allegations against him.
The rapper’s trial comes eight months after he was arrested and indicted by federal agents in New York City on September 16, 2024, following which he has remained behind bars in a Brooklyn prison.
For his bail hearing, Combs put up his US$48 million (A$75m) Miami mansion as collateral for his $50 million bond (A$78m). It was this mansion on Star Island that was raided by US Homeland Security agents in March 2024.
But federal agents also raided his sprawling Los Angeles mansion in Holmby Hills, which the rapper had just listed for $61.5 million (A$95m).
That 10 bedroom, 13 bathroom property has sat on the market since Combs’s arrest, and as the trial grinds on and more shocking allegations come to light, the question remains if the mogul is allowed to proceed with a sale if he is found guilty by the criminal trial.
Can Combs proceed with the sale of his home?
Legally, Combs can sell the property even if convicted and sentenced for the charges.
But the money may not be his to be disbursed.
Could the government seize the home as part of his assets?
If Combs gets a sale offer but he is also convicted, the federal government can put a lien on the asset and determine where the money goes, according to Realtor.com.
If Combs is found guilty the money from the sale of the house may go towards settling the many lawsuits against him.
Crisis manager for White Collar Advice, Justin Paperny said that if the fallen mogul is handed a guilty sentence, paying off lawsuits could help reduce the sentence. But Combs “will need a huge number to offer up to the courts to get leniency,” he said.
What would Combs use the money for?
In addition to paying out alleged victims, Combs will be left with gigantic legal costs resulting from his charges, whether he is found guiilty or not.
Who would want to buy Sean ‘Diddy’ Combs’s house?
Given the stigma around the property, and some of the alleged activities that took place there, a sale at the current asking price might be unlikely.
Wealthy buyers would still be expecting a deal, given that the mogul is in financial distress, a fire sale price meaning that he has less capital to work with.
It was initially purchased for US$39 million in 2014.
Despite a US30 million offer from Bo Belmont, of Belwood Estates, a real estate investment firm, it remains unsold, according to multiple news sources.
Annual taxes are US$500,000, which could add pressure on Combs to sell.
Could Combs rent out the property instead?
Combs could take the property off the market and rent it out, Airbnb style.
There would likely be no shortage of bookings, especially out of curiosity about the mogul’s lifestyle.
Nightly rental estimates at the higher end of the market are around $10,000 to $20,000 per night.
What is Diddy’s LA mansion like inside?
The gated estate is 1580 square metres set on 1.3 acres, and is described in a property listing as “one of the most spectacular and beautiful estates in Holmby Hills.”
There is a movie theatre, wine cellar, office, a gourmet kitchen, a family dining room, and a separate kitchen for caterers.
Upstairs is the master suite with dual bathrooms, large wardrobes, and a wide hallway leading to guest and family suites.
There is also a two-storey guesthouse with gym, a recording studio, and guest bedrooms.
The grounds feature manicured lawns, box privacy hedges, mature trees, a swimming pool with a waterfall and grotto, a basketball court, spa house, and an outdoor covered loggia with a barbecue, bar, and pizza oven.
Has Combs received any offers?
It seems only one, from Bo Belmont, who offered half the asking price.
Belmont initially told Realtor.com, “I want to remove the stigma and focus on the charming elegance of this remarkable property. We intend major renovations and especially want to recapture the beautiful, bucolic setting of the outside grounds, with its picturesque trees, foliage, and walkways.”
Belmont made news when he bought Kanye West‘s derelict Malibu beach house for US$21 million, which had previously been listed for US$39 million.
What other assets does Diddy own?
Combs owns another house in LA near the Hollywood sign; a Gulfstream G550 jet valued at more than US$25 million, known as LoveAir, which he rents out; an art collection; and a fleet of 20 luxury cars including a Rolls-Royce, Bentley, Ferrari, Lamborghini and luxury Mercedes known as a Maybach.
He also has Badboy Records, which earns money from its recording artists and copyright royalties.
Diddy previously had a partnership with liquor company Diageo, the company that owns Cîroc vodka, Diddy’s brand, but their partnership ended in 2024 after a settlement of disputes.
How much is Diddy worth overall?
In 2024, Forbes magazine estimated Sean Combs’s net worth at US$400 million (A$625m), which had dropped substantially from the 2019 estimate of US$740 million (A$1.1bn).
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