Diddy Donates $2 Million to Two Powerful Black Initiatives

Diddy was a very busy man over the weekend. The hip-hop mogul donated $2 million to two powerful Black initiatives.

Diddy Donates $2 Million in Support of Black Wealth

On Saturday (Aug. 26), Diddy was one of the headlining speakers at Invest Fest in Atlanta. The Bad Boy Records founder sat down for an interview with financial podcasters Earn Your Leisure, to talk about his highlights as an entrepreneur and his goal to promote Black wealth.

Afterwards, Diddy presented EYL hosts Rashad Bilal and Troy Millings a $1 million check for the Earn Your Leisure fund that will go to investing in Black businesses and interests including Diddy's three charter schools in New York City and Connecticut.

"I'm thrilled to join forces with Earn Your Leisure," Diddy said in a press release. "We're going beyond discussing finances and taking action to demystify the world of investing for our community."

Later, Diddy went to the Center Parc Stadium for a football game—South Carolina State vs Jackson State University—and followed through on a pledge he made last year at the 2022 BET Awards that he was going to give back to Historically Black Colleges and Universities. During the end of the first quarter of the football game, Diddy presented a $1 million check to Jackson State University Development Foundation, benefiting the university, students and faculty.

"If it wasn't for HBCU, I wouldn't be here," he told a reporter on the sideline. "Supporting HBCUs is not just my honor, it's my responsibility."

"My grandmother raised me to sow my seed in my community and that's what I'm going to do," he continued.

Diddy also added that HBCUs are underfunded and that he is committed to doing something about it.

Diddy's Multiple Investments

Diddy is now a billionaire, according to former Forbes editor Zack O'Malley Greenburg, who published a list of the wealthiest rappers last year. The majority of the 53-year-old executive's earnings come from his investments outside of music, such as his partnerships with Cîroc vodka, DeLeón tequila and his music television platform Revolt TV.