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Chicago Tribune
44 minutes ago
- Chicago Tribune
After Diddy's conviction, here's where his business ventures stand
LOS ANGELES — Sean 'Diddy' Combs has been acquitted of the most serious charges in his federal sex trafficking trial, but that doesn't mean the once-celebrated music mogul will see his business empire restored. Combs, 55, who is one of the most influential figures in hip-hop history, was acquitted Wednesday of racketeering conspiracy and sex trafficking charges but convicted on prostitution offenses. Prosecutors painted a dark portrait of the mogul, with witnesses taking the stand to allege a pattern of violence and detail drug-fueled sex parties he reportedly called 'freak-offs' or 'hotel nights.' Combs was convicted of flying people around the country, including his girlfriends and paid male sex workers, to engage in sexual encounters, a felony violation of the federal Mann Act. He will remain in custody while he awaits sentencing. Here's a closer look at how Combs' business portfolio and public image have crumbled under the weight of the allegations. Before Combs was arrested and charged, his major business ventures had collapsed: He stepped down and later fully divested from Revolt TV, which was founded in 2013. The network offered a mix of programming focused on hip-hop culture, R&B music, social justice and documentaries. He also reportedly lost a Hulu reality series deal and saw his once-iconic fashion brand Sean John vanish from Macy's shelves. After surveillance footage surfaced last year showing Combs physically assaulting singer Cassie, his then-girlfriend, in 2016, consequences mounted: New York City revoked his ceremonial key, Peloton pulled his music, Howard University rescinded his honorary degree and his charter school in Harlem cut ties. Last year, Combs settled a legal dispute with Diageo, withdrawing a lawsuit filed as part of a settlement with the London-based spirits giant, making the company the sole owner of Ciroc and DeLeon. While many of his ventures have unraveled, his music catalog — for now — remains intact. Bad Boy Records may be synonymous with 1990s icons like The Notorious B.I.G., Faith Evans, Ma$e, and 112, but Combs kept the label relevant before his arrest with high-profile releases. In 2023, Combs dropped ' The Love Album: Off the Grid,' which was his first solo studio album in nearly two decades, and Janelle Monáe released her critically acclaimed project ' The Age of Pleasure ' through Bad Boy. Both albums earned Grammy nominations, with Monáe's effort recognized in the prestigious record of the year category. Ahead of the 'The Love Album' release, Combs made headlines by returning Bad Boy publishing rights to several former artists and songwriters, years after he was criticized for how he handled their contracts. Bad Boy Records remains operational, but the label has been significantly shaken by Combs' legal firestorm and it hasn't announced any major upcoming releases. Last week, a surprise EP called 'Never Stop' released by his son, King Combs, and Ye (formerly Kanye West), showed support for the embattled mogul. The project was released through Goodfellas Entertainment. Bad Boy Records remained active through 2022, backing Machine Gun Kelly's 'Mainstream Sellout' under the Bad Boy umbrella. He was a producer on MTV's reality television series 'Making the Band,' and 'Making His Band,' launching the careers of artists like the girl group Danity Kane and male R&B group Day 26. Combs has been sued by multiple people who claim to have been victims of physical or sexual abuse. He has already paid $20 million to settle with one accuser, his former girlfriend Cassie. Most of those lawsuits, though, are still pending. It isn't clear how many, if any, will be successful, or how much it will cost Combs to defend himself in court. Combs and his lawyers have denied all the misconduct allegations and dismissed his accusers as out for a big payday. Federal prosecutors had informed the court that if Combs is convicted, they would seek to have him forfeit any assets, including property, 'used to commit or facilitate' his crimes. It was not immediately clear following the verdict how prosecutors would proceed or whether asset forfeiture would be part of a sentence imposed by the judge. Despite the legal turmoil surrounding Combs, his music catalog remains widely available on major streaming platforms including Spotify, Apple Music and Amazon Music. None of the streamers have publicly addressed whether they plan to adjust how his music is featured. Interestingly, Combs' music saw a roughly 20% boost in U.S. streaming between April and May 2025, his biggest monthly spike this year, according to Luminate. The numbers jump coincided with key moments in the trial, including testimonies from Cassie and Kid Cudi. However, there was a slight drop-off with a 5 to 10% decrease in June compared to the previous month's streams. Streaming makes up a fraction of an artist's revenue and is calculated through a complicated process called 'streamshare.' Most artists see very little pay from digital services. Sean John, founded in 1998, has gone largely dormant, with its presence disappearing from major retailers like Macy's. There are no clear signs of a relaunch on the horizon. In 2023, Combs launched Empower Global, an online marketplace designed to uplift Black-owned businesses and strengthen the Black dollar. He positioned the platform as a modern-day 'Black Wall Street,' backing it with a reported $20 million of his own investment. The platform debuted with 70 brands and planned to expand by onboarding new Black-owned businesses each month, aiming to feature more than 200 by year's end. However, as 2023 came to a close, several brands cut ties with Empower Global. It was reported that some cited disappointing performance and growing concerns over the misconduct allegations surrounding Combs.
Newsweek
2 hours ago
- Newsweek
China Eyes More Overseas Missions for Growing Naval Fleet
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. China is building a new fleet of replenishment ships—capable of providing supplies to other vessels at sea—as the East Asian power's navy expands its overseas presence. Newsweek has reached out to the Chinese Defense Ministry for comment via email. Why It Matters China possesses over 370 naval vessels, making it the world's largest navy by hull count and surpassing its rival, the United States. Over the past year, Chinese warships have conducted missions farther from home—including in Europe and Africa, as well as around Australia in the South Pacific—challenging America's naval dominance. According to a Pentagon report, China has a "sizable force of highly capable logistical replenishment ships," which support long-distance, long-duration deployments—such as recently concluded dual aircraft carrier operations in the broader western Pacific. What To Know Since early June, photos circulated on social media indicate that China has launched and tested several newly built Type 903A replenishment ships. A number of vessels from this class—as well as their predecessor, the Type 903—are already in service. Meanwhile one other newly produced Type 903A may have been undergoing sea trials already. The AOR-design is again in active production both at Wuhu Shipyard and COMEC (formerly GSI), Guangzhou. Same source. — Alex Luck (@AlexLuck9) June 5, 2025 Both the Type 903 and Type 903A vessels can carry fuel oil, fresh water, cargo, and ammunition, according to open-source information. Australia-based naval analyst Alex Luck estimates that China has likely constructed an additional four Type 903A ships. The new ships were constructed at shipyards in Guangzhou and Wuhu, the analyst wrote in a January article for the specialist outlet Naval News. It remains to be seen whether the new ships are Type 903A vessels or further improved versions of this class. The Type 903/A fleet forms the backbone of China's replenishment capability, Luck told Newsweek, adding that China's doubling of this type of ship is not unreasonable, given both the growing demand and the need to build resilience for conflict scenarios. Despite drawing less attention than the larger Type 901 replenishment ships, the Type 903 ships are considered "far more crucial" to China's navy for operating across island chains in the western Pacific, as well as more expeditionary missions, the analyst explained. China's acquisition of multiple new replenishment ships indicates its seriousness in pursuing the goal of having a world class military by mid-century, Tom Shugart, an adjunct senior fellow at the Center for a New American Security, told Newsweek. The Chinese Type 903A replenishment ship CNS Kekexilihu is seen in Qingdao, China, on April 20, 2024. The Chinese Type 903A replenishment ship CNS Kekexilihu is seen in Qingdao, China, on April 20, 2024. Anna Ratkoglo/Sputnik via AP What People Are Saying Tom Shugart, an adjunct senior fellow at the Center for a New American Security, told Newsweek: "Platforms like [replenishment ships] are essential for furthering the [People's Liberation Army] Navy's reach as it operates further and further from home on a regular basis." Australia-based naval analyst Alex Luck told Newsweek: "I've long held the view that the current Type 903/A-fleet is rather insufficient considering the very high rotational tempo the type experiences across [People's Liberation Army Navy] operations." What Happens Next China continues its naval buildup by launching more warships while operating 307 shipyards, at least 35 of which are linked to military or national security projects.
Bloomberg
2 hours ago
- Bloomberg
Can Mamdani Bring Free Buses to New York City?
Zohran Mamdani's mayoral campaign to tackle New York City's affordability crisis has struck a chord with voters, helping him clinch the Democratic nomination Tuesday in a major upset. But one of his signature promises — free buses — is raising questions about feasibility, funding and whether a NYC mayor could actually deliver. The Metropolitan Transportation Authority operates the city's bus network, with more than a million weekday rides on average. Bus commuters tend to be lower-income compared to subway riders or drivers, which puts the $2.90 fare to ride into sharper focus. It's part of why Mamdani is pledging to permanently eliminate it, as well as make buses faster and more efficient for passengers.
