By Alexis Stodghill on Mar 2nd 2011 7:53PM
Filed under: Celebrity Finances, News
From The Network Journal:
Despite all the recent bad news for Sean "P. Diddy" Combs, such as his flagship NYC clothing store on Manhattan's tony Fifth Avenue closing, the hip-hop entrepreneur just received some great news.
His company,
Bad Boy Worldwide Entertainment Group, has ranked as the third "Largest Minority Owned Business," according to
Crain's New York Business. On top of this, Diddy actually runs the third largest minority owned business in all of New York City.
"Diddy's brand has endured - in spite of his very public failures... the restaurant, store closing, poor record sales of his artists, etc - because he has the ability to make or break people and he has powerful connection," notes hip-hop business expert Saideh Browne, president of Impact Agency NY and author of '99 Tips to Transform Your Business Today' (March 2011, GS Publishing Group). "Those who may want to publicly sabotage his brand should likely think two, three or four times before doing so because he has the ability to always bounce back."
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Diddy Does it Up
A long-time player in the game called "hip hop mogul," Diddy played tough guy with fellow baller Jay-Z in 2000. They both look a little ashy. Is that a wash cloth is Comb's back pocket? Lord.
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Diddy Does it Up
Is this the Diddy we have all come to know and love? The year was 1997, and the event is the opening of Sean Comb's now defunct Justin's restaurant. With that baby face and ill-fitting suit, Diddy, then Puff Daddy, looks like a kid who's been playing in his father's closet.
Diddy Does it Up
A long-time player in the game called "hip hop mogul," Diddy played tough guy with fellow baller Jay-Z in 2000. They both look a little ashy. Is that a wash cloth is Comb's back pocket? Lord.
Diddy Does it Up
Continuing to try to keep it real, Diddy dated felow middle-class urbanite Jennifer Lopez in 2000. As Lopez rocked her fake Latina gang member do rag, Combs strutted the red carpet pretending to be a princely thug. The curved cap rim gave him away -- no thug would do that! Incidentally, this was around the time Combs and Lopez were arrested for involvement in a shoot out in a nightclub -- thug enough for ya?
Diddy Does it Up
Um. I don't know what to say here, except wrong, wrong, wrong and NEXT!!!! The year 2000 was a very bad year for the artist formerly known as Puffy's style sense.
Diddy Does it Up
Unfortunately, 2001 was also not a very good year. Puff hit the streets in the type of wide-legged baggy pants that should be reserved for a 'Fat Albert' character.
Diddy Does it Up
Always known as a great performer, Diddy took to the stage in 2002 to show the world that he is a devout Mets fan in head-to-toe gear. Still a little childish. Would Diddy's style ever transform?
Diddy Does it Up
Again modeling his look after a member of the 'Fat Albert' cast, poor Puff hit Fashion Week dressed like the bass player in the Junkyard Band in an over-sized Kangol hat. He was at a 2001 Jean-Paul Gaultier fashion show people!!!! SHM. But I can't talk. I would get an all-white suit immediately dirty.
Diddy Does it Up
Then, BAM! In 2003, Diddy made the change from fashion misfit to trendsetter. He filled out a little bit, and took to the runway of his own fashion show to take a bow in a well-cut suit. It's a little shiny, and the sleeves are short, but he looks good!
Diddy Does it Up
Continuing on a winning streak, Puff hit the 2003 MTV Movie Awards red carpet in a very mature linen suit, while sporting the super-dark sunglasses that he has worn since the beginning of his career. Most Scorpios love to cover the eyes which they say are the window to the soul. Or maybe they help block the paparazzi's glare.
Diddy Does it Up
In 2003, Diddy wore casual outifts without having to pull off a "thug" costume, as in earlier years. After the papes come, you can be effortlessly yourself. There go those shades again.
Diddy Does it Up
Diddy's Bad Boy Worldwide Entertainment Group, which manages artists, records music, produces several fragrances, has multiple apparel lines, owns an advertising and marketing agency and has a television and film production company, to name a few, has continued to rise. According to Crain's, Diddy's empire earns a mega $300 million annually, with an estimated 600 employees on its payroll. Not bad for a businessman with much-publicized failures.
Diddy's company, Bad Boy, fell shy of being second on Crain's list.
Palladium Equity Partners, which, according to Crain's earned $1.262 billion in annual revenue, came in as the number two NYC minority owned business. Number one on the list was
Goya Foods Inc., with $1.5 billion sales yearly.
Besides this impressive ranking, Diddy is still recording music as an artist. His latest CD is called 'Last Train To Paris,' and from his track record should produce a chart topper or two.
Read the rest about Diddy's success: The Network Journal
The Story Behind A Touching White House Photo
Find Your Swimsuit Confidence
Comments: (16)
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By: Diva on 3/21/2011 4:58PM
How can Palladium Equity Partners, be a minority owned business? It's run by white men. A woman is listed, however she isn't on the front page of the web site.
Money manager Mellody Hobson company should be number 1.
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By: Alexis Stodghill on 3/03/2011 1:59PM
If you look at their names, a lot of them are Latinos.
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By: Alexis Stodghill on 3/03/2011 2:05PM
Plus, this is about NYC companies.
Ariel Investments, Mellody Hobson's firm, is based out of Chicago.
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By: Gicha on 3/04/2011 5:58PM
Congratulations cuz!
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By: Justifyed on 3/03/2011 10:11AM
Still waiting for him to come out of the closet!
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By: Alexis Stodghill on 3/03/2011 12:45PM
You're crazy! LOL
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By: Gichaya on 3/03/2011 2:48PM
Alexis, Tell us again why Pallium is listed as a minority business. I see that there are a few Latinos,but most are not. Is that justification for them to place themselves under the umbrella of minority business? I think that's all about tax breaks and other incentives. What do you think?
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By: Alexis Stodghill on 3/04/2011 4:01PM
That might be their motivation, but Crain's is a VERY respected business publication. They made this decision to incluude them. I am sure it's a combination of how these people see themselves in a very white field -- investment and money management -- and how they are legally defined in this country.
In a Latin American country, they would be white. But here, they are Latino. Latino is only a term used in America. It is applied to anyone of Latin American descent. It's not based on skin tone. They didn't make that up. It's how our country defines people of that ancestry.
With their last names, I am sure they are given side eye when they do business in the American investment field. It's VERY WASPY, so anyone who is not a WASP is a minority. That is my perception of the industry.
These things combined makes it a very legitimate award. No, they are not going to get pulled over by the cops, but I am sure their names alone make them "of color" to the people in their field.
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By: jxs on 3/04/2011 3:41AM
If a white person is around more than two hispanics or Latinos they consider them selves to be a minority because they start telling people they are latin or Puerto rican when they get a tan. that's probably how these white run and employeed company's got on the list in the first place. They just don't know their really white!
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By: Garry Lewis on 3/03/2011 8:58PM
who cares?
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