Diddy’s House Reaches A New Massive Net Worth During Lawsuits
Sean “Diddy” Combs is facing countless lawsuits from women and men who accused him of sexual assault. This means he could end up owing millions of dollars to various people. It could easily wipe out his substantial fortune. However, one thing he owns has skyrocketed in value since his arrest: his Los Angeles home.
Here is what Combs’s home is worth now.
Diddy’s House Has Skyrocketed in Value To An All-Time High
Sean “Diddy” Combs owns more than one home. One of the homes is in Holmy Hills, a high-end Los Angeles neighborhood that even includes the Playboy Mansion. It is one of the two homes that the Department of Homeland Security raided before his arrest this year.
That home is currently for sale at $61,500,000. However, it is now valued higher than the asking price. Since Combs was placed in jail, the house has reportedly reached a new value of $72,176,712 (via Realtor.com).
That said, if he loses too many lawsuits and is found guilty of his criminal charges, the government could liquidate his assets, including his home, and obtain a massive financial sum to pay back his accusers.
Combs listed the home for sale after his September arrest. Prosecutors charged him with counts related to racketeering conspiracy, sex trafficking by force, fraud or coercion, and transportation to engage in prostitution.
What Will Diddy’s Home Sell For?
While Diddy is asking $61,500,000 for his home, worth $72,176,712, he will likely get much less when it sells. According to the same site listing its worth, Combs is estimated to sell his home for only $51,382,235, a good $10 million less than his asking price and over $20 million less than its actual value.
This is because the site claims that California homes are often overvalued. Based on the alleged events in Combs’s homes, that will also likely keep people from wanting to buy it to live there. With buyers leary about the house, the price will almost surely be lower thanks to Diddy’s involvement.
An investment company even offered $30 million for the home in November, which is $30 million less than Sean listed it for. “The home will likely sell below the current asking price due to the relationship with the previous owner and the current downturn in the luxury housing market,” said Kevin Thompson, founder and CEO of 9i Capital Group (via Newsweek).
What do you think will happen with Sean “Diddy” Combs’s Los Angeles mansion? Will he take a giant loss on its sale? Do you think the money will go straight to his accusers when it sells? Let us know in the comments below.
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