Money doesn’t change people, it just makes them more of what they already are. If that saying were ever proven true, we might just have a living case study in P Diddy. Here’s a twist of irony for you: Before he was tangled in the web of s*x trafficking allegations and ‘freak-off’ party scandals, Sean Combs was pulling down a hefty sum from the government, courtesy of the COVID-19 pandemic.
While many were scrambling for survival, Combs’ company, Revolt Media and TV LLC, reportedly took out $1.9 million in Paycheck Protection Program (PPP) loans. Let’s dive in to see how the man who made millions from music got his hands on some of that free money and what happened next.
Did Diddy take $1.9 million PPP loan before the scandals that landed him in prison?
In 2020, as the world went into lockdown, the Paycheck Protection Program was born to save small businesses from drowning. The government rolled out billions in emergency loans meant to keep companies afloat during the economic storm brought on by the pandemic. The idea was simple: help businesses retain employees by offering funds that could be forgiven, but only if they followed the rules.
Seems like a no-brainer, right? Well, in the land of the rich and famous, things don’t always go according to plan.
Sean Combs, with an estimated net worth hovering close to $1 billion (see Fox Business), didn’t seem like the typical candidate for a pandemic bailout. Yet, as per reports, Revolt Media and TV LLC, his cable network, secured $1.9 million in April 2020. The loan was intended to cover the payroll for 134 employees, at least in theory.
A year later, in March 2021, Diddy pulled in another $1.3 million for 84 jobs. But both loans were forgiven.
Pandemic privileges: The PPP loan windfall for celebrities amidst global hardship
Diddy wasn’t the only one. As the pandemic raged on, a slew of celebrities found themselves on the receiving end of PPP loans. Kanye West pulled down $2.3 million for Yeezy LLC. Jay-Z’s companies, Malibu Entertainment and Armand DeBrignac Holdings, raked in a combined $2.4 million. Khloe Kardashian’s Good American LLC was handed over $1.2 million (via HotNewHipHop). And the list goes on, with names like Tom Brady also cashing in.
But while regular folks had to sweat it out with the loan process, these celebrities got their loans forgiven. Was it fair? Probably not. As for Combs, who now faces a heap of serious legal troubles, that $1.9 million loan didn’t seem to solve many of his problems.
In February 2025, Anthony Ricco, one of Sean Combs’ defense attorneys, filed a motion to withdraw from the case, citing unspecified “sufficient reasons”. The motion is pending judicial approval (per Forbes).
P. Diddy’s trial is scheduled to begin on May 5, 2025. He remains in custody without bail at the Metropolitan Detention Center in Brooklyn. His legal team continues to refute the charges, describing them as unfounded.
This post belongs to FandomWire and first appeared on FandomWire
