Sean “Diddy” Combs was one of the richest men in the world just one year ago. But since then, the mogul has been labeled an abuser by as many as 5 women, and was forced to fork over nearly $100M to his ex-girlfriend Cassie.
Now, Media Take Out has learned his fortunes took another tumble.
Diddy was locked in a bitter lawsuit between his companies and Diageo – the majority owner of Ciroc Vodka and Diddy’s partner in DeLeon Tequila.
Diddy claimed in legal documents that the company was racist, and was suing the company for close to $1 billion in damages. His lawsuit looked very promising last year.
But after the multiple abuse scandals, Diddy and his legal team decided that it was in their interest to settle the case. Financial terms of the settlement were not disclosed – but Diddy is no longer an owner or partner in either Ciroc or DeLeon anymore.
Media take Out learned that Diageo said it has reached an agreement with Sean “Diddy” Combs, after the rapper accused the group of racial discrimination and alleged it neglected his DeLeón brand.
The liquor maker–which owns Johnnie Walker whisky and Tanqueray gin–said Tuesday that Combs has withdrawn all of his allegations about Diageo and will voluntarily dismiss his lawsuits against the company with prejudice.
“Diageo and Mr. Combs have no ongoing business relationship, either with respect to Cîroc vodka or DeLeón tequila, which Diageo now solely owns,” it added.