Sean “Diddy” Combs is reportedly facing financial troubles, owing nearly $100 million in mortgage payments on mansions in Los Angeles and Miami. The embattled rapper took out eight bank loans totaling $140 million to purchase the properties. Despite being worth around $1 billion, Combs has not paid off the mortgages on his homes, which were recently raided by federal agents investigating allegations including sex trafficking against the music mogul.
One of Combs’s properties is located in the elite Holmby Hills neighborhood of Los Angeles, featuring eight bedrooms, 11 bathrooms, and an underwater swimming tunnel. To finance this property, he took out two mortgages worth $25.35 million each, with payments due in 2029 and 2036. In addition to his LA mansion, Combs also owns two neighboring mansions on Miami Beach’s exclusive Star Island, one of which he purchased from Sony Music head Tommy Mattola for $14.5 million in 2003.
With regards to the Miami properties, Combs has accumulated five mortgages totaling $68.45 million, of which he has paid off $42.35 million. He also bought another mansion on Star Island for $35 million and took out a single home loan for $20.7 million. Combs currently has a total of eight mortgages across his Los Angeles and Miami homes, amounting to $139.85 million, with $97.5 million still outstanding. Despite his financial troubles, Combs likely has other properties throughout the country.
As of now, Diddy has not been charged with any crimes in relation to the ongoing investigations, which involve allegations of sex trafficking. Authorities have interviewed several individuals in connection to the allegations, including at least four Jane Does and one John Doe. The case has been active for several weeks, with officials from the Department of Homeland Security expressing concerns about a disturbing history of sex trafficking. While the investigations continue, Combs remains embroiled in the financial and legal challenges surrounding his properties.
