Diddy’s 'Economic Armageddon' Is Upon Him - The Rapper Is Selling His Private Jet & MUCH More!

Diddy is doing whatever he can to bring in cash… But is an “economic armageddon” unavoidable?

Since being thrown behind bars, the disgraced rapper has been bleeding money. He lost his Ciroc and DeLeón brand deals, he sold his stake in Revolt, and he’s trying to sell his Los Angeles mansion. All this to say, his net worth has reportedly been cut nearly in HALF compared to what it was before all the accusations began to flood out into the news cycle. (You can read all about his crumbling empire HERE, btw.)

So far, the I’ll Be Missing You rapper and his legal team have denied all allegations against him. But counsel ain’t cheap! And as we approach his May trial date, legal fees are mounting — which means Diddy’s cash supply is depleting. Plus, obviously, it’ll likely only continue to free fall once the trial begins and public opinion really sets in. At least that’s what one industry insider believes! On Tuesday, a source told the US Sun:

“At the moment Sean is out of the Ciroc business, but the charges and lawsuits against Sean come across like a mortal blow to the Ciroc brand because everybody still knows it as ‘Diddy’s vodka’ and he is the person who made it famous in the US. The details that will be potentially uncovered at trial will mean economic armageddon not just for Ciroc’s current owners, but for the beverages in which Sean’s company Combs Enterprises still has an interest.”

No surprise there… But let’s not forget that in addition to his alcohol brand deal AND his Bad Boy Records company, the entrepreneur has other side-hustles, too! That includes his apparel brand Sean John. But the insider believes that, too, is out the window:

“Is anybody going to want to buy clothes with this man’s name on them ever again? Of course not.”

We’ve already seen that begin to happen with his eyewear…

But believe it or not, amid everything going on, his music streams are actually up. Yes, seriously. Although TBF, the insider feels that won’t last long:

“People are only streaming Diddy’s music more because he has been so prominent in the headlines and people are talking about him all over social media – but this kind of bump, 90 per cent of the time, goes away. As a case like Sean’s grinds on and more sad details come out, radio and satellite DJ’s start playing the music less and less because it just puts a bad taste in your mouth. When was the last time you heard R Kelly on the radio? If Sean gets a long sentence, his time in the music business is done forever and revenue from his recording business will eventually shrink down to a trickle.”

So with his empire in decline, the 54-year-old is reportedly trying to offload some pricey assets to free up some cash. Specifically, in addition to his El Lay mansion, Diddy is also trying to sell off his private jet. But who knows if anyone will even want to buy it?? So far his mansion hasn’t seen a ton of interest in terms of actual sale offers, so it’s looking like that so-called “economic armageddon” is more and more likely… YIKES!

Thoughts??

[Image via WENN]