Who

A hip-hop producer, rapper, fashion designer, TV producer, Broadway actor, entrepreneur, and all-around party boy, by the time you finish reading this, he'll likely have started a new business venture or given himself a new name.

Backstory

Raised in New York City by his mother—his drug-dealing dad was shot to death when he was two—Diddy started his music career after dropping out of Howard in the early '90s and scoring an internship at Uptown Records. Uptown's founder, Andre Harrell, fired him two years later, but that hardly slowed Combs down. In 1993, at the age of 21, he founded his own record label, Bad Boy Entertainment, along with childhood buddy the Notorious B.I.G. (Christopher Wallace). Over the next few years, Diddy signed a slew of artists to Bad Boy while also writing and producing tracks for artists on other labels (like Mary J. Blige, Mariah Carey, Usher and Lil' Kim), and pursuing a music career of his own; in 1997 he released his debut album, No Way Out, which featured the hit "I'll be Missing You." In 1998, Combs branched out into clothing with his Sean John label; that same year he formed his first film/TV production company. In addition to about a dozen other side ventures in recent years (see below), Combs has also acted in about two dozen films. In 2004, he appeared on Broadway, starring in the (justifiably maligned) play, Raisin in the Sun.

Of note

As with his role model, Russell Simmons, it isn't easy keeping track of the million-and-one ventures Diddy has brewing on the side. There's his music label, Bad Boy Records, which Diddy sold to the Lyor Cohen-led Warner Music in 2005. (Combs claimed the deal netted him $30 million; others said it was in the neighborhood of $10 million.) Then there's his clothing line Sean John, in which Diddy only owns a small stake—the company's primary shareholder is Ron Burkle, who invested $100 million in the venture. The story at the clothing company is mixed: While the lower-end, department store fare sells well, he's been unable to crack the high-end segment of the market. Diddy's music career continues: Combs' third album, Press Play, which featured collaborations with the likes of Nas, Mary J. Blige and Kanye West, hit stores in late 2006. And his film/TV production company continues to turn out new shows, and over the years has been responsible for MTV programs like Taquita & Kaui, Making the Band, and Run's House.

Then there's all the other stuff he has a hand in, including a recording studio (Daddy's House), a Caribbean/soul food chain called Justin's (named after his son), and Unforgivable, the fragrance he launched in partnership with Estée Lauder. He also has a 50 percent stake in Zac Posen's label and a 50 percent stake in Ciroc vodka. And he makes even more money on top of all of that thanks to his endorsements for brands like Pepsi and Burger King.

Keeping score

Combs' net worth was estimated by Forbes at $350 million in 2006. He pulled in $28 million in 2006, according to the mag.

Legal file

Combs' most high-profile brush with the law came in 1999 when he and then-girlfriend Jennifer Lopez were arrested after a shooting in a New York nightclub. Represented by Ben Brafman, Diddy was acquitted after a six-week trial. (His pal, rapper Shyne, received 10 years in prison.) But there have been a number of other legal run-ins both before and since, including a conviction in 1996 for criminal mischief after threatening someone with a gun. (He paid a $1,000 fine.) In 1999, Combs and two friends stormed into the office of Steve Stoute and beat him with a champagne bottle and a telephone. (Diddy didn't realize a security camera was present; he pleaded guilty to a charge of harassment.) His most tragic legal entanglement was in 1991, though, when he promoted a concert at City College with the rapper Heavy D. The event was oversold and the exits were blocked to control the crowds. When a stampede ensued, nine people died and Combs and Heavy D. were held partially responsible for the incident in a civil case, paying out hundreds of thousands of dollars in damages to relatives of the victims. More recently, in October 2007, he was sued by a man who claimed that Diddy's bodyguards pummeled him inside a club.

AKA

Combs has cycled through a number of names over the years. "Puffy" comes from a childhood nickname, supposedly because he puffed out his chest when he played football. He changed it to "Puff Daddy" in the 1990s, then in 2003 announced he was going by "P. Diddy." Since 2005, he's favored just plain "Diddy." In the U.K., however, he's still known as P. Diddy, the result of legal battle with another record producer who claimed ownership of the nickname.

Grudge

Combs' most notorious rival during the 1990s was West Coast rap boss Suge Knight. Knight's Death Row Records and Combs's Bad Boys sparred for years and the war was at least partly responsible for the murders of rappers Tupac Shakur and the Notorious B.I.G. But Diddy's had plenty of feuds with other people. He's been sued by his employees (he settled a suit with his chauffeur, Wardel Fenderson, in 2004) and, more recently, got into a well-publicized shouting match with Naomi Campbell at a 2007 Grammys after party.

Campaign trail

Combs launched "Vote or Die" in advance of the 2004 presidential election, a campaign that was supposed to drive young people to the polls to vote. (Diddy reportedly started the group with Burkle's encouragement.) Whether it had much of an impact—or just provided a way for Diddy and pals to generate a little press and appear civic-minded—isn't clear, but he did, in fact, cast his vote in 2004, contrary to reports that he didn't bother to go to the polls. For the record, though, he did skip the midterm elections in 2006.

Personal

Combs' most high-profile romance was with Jennifer Lopez, with whom he was arrested on weapons charges in 1999. She dumped him in 2001. More recently, he's been romantically linked to Sienna Miller and Making the Band contestant Aubrey O'Day, although he claims he's just friends with both. He has a teenage son named Justin with Misa Hylton-Brim, a fashion stylist, and twin daughters (D'Lila Star and Jessie James) and a son, Christian, with longtime girlfriend Kim Porter.

Habitat

In 2005, he bought a $3.82 million condo on the 66th floor of the Park Imperial, where his neighbors include Tommy Mottola and Dolly Lenz. The three-bedroom apartment had previously been home to Alex von Furstenberg, the son of Diane von Furstenberg. Diddy also owns a 17,000-square-foot mansion in Alpine, New Jersey, which he bought for $10 million in 2004. The home features a theater, pool with waterfall, wine cellar and 700-gallon fish tank. Diddy spends the summers at a home in East Hampton, where his neighbors include Donna Karan.

Toys

Diddy can be found riding around town in a gray Rolls-Royce Phantom, a silver Maybach 625, or a black Lincoln Navigator. When he's doing the driving—like when he's in the Hamptons—you'll occasionally spot him in his vintage 1959 Corvette or his 2002 Ferrari.

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