Diddy's mother and son feuding over his $400 million fortune amid rapper's money troubles: 'Real-life Godfather'
Diddy is reportedly trying to sell some of his most prized possessions owing to money troubles but his family is fighting over his $400 million fortune. The hip hop mogul has been locked up in jail and is paying his legal team, who have failed to secure his bail, an astronomical sum of money.
Amid his highly publicised arrest followed by multiple legal woes, Diddy found support in his family. However, it seems like his House of Cards is collapsing. According to a recent report, the rapper's mother, Janice Combs, and his son, Christian ¡®King¡¯ Combs, are fighting over the inheritance¡ªall while he is locked up in Brooklyn's notorious Metropolitan Detention Centre.
Diddy's family is fighting over his fortune
Janice and Christian, heirs to Diddy's $400 million fortune, are reportedly locking horns over control of his assets. A source close to the development told In Touch Weekly that Janice believes she is best suited to manage the estate; however, Christian wants to call the shots. The conflict has escalated into an intense battle of control, drawing comparisons to a "real-life Godfather situation."
Is Diddy going through money troubles?
Reports have suggested that Diddy may be going through financial distress. Aside from the family feuding over his finances, the fallen music mogul is also worried about the astronomical fees of his legal team, which is expected to put a significant dent in the millionaire's fortune.
The insider told the outlet, ¡°Defending him against these serious charges is a huge undertaking, and it¡¯s gotten very expensive. He will hate to part with it, but he has no other choice.¡±
Diddy was warned of hefty legal fees
The tipster further added that Diddy's former lawyer, Mark Geragos, has warned that the music mogul should brace himself for a hefty legal bill. He said, ¡°Generally, cases like this are handled on an hourly basis, and Diddy has always availed himself of a top-shelf legal team, which can cost up to $1,750 an hour.¡±
Diddy selling his prized possessions
To stay afloat in the business, Diddy has reportedly put some of his prized possessions on the market. His Beverly Hills mansion is up for sale for a whopping $61.5 million, and he's also trying to offload his private jet for $60 million upfront, plus an additional $3.5 million annually for maintenance. He is also on a serious cost-cutting spree while adjusting to his life behind bars.
Diddy has been denied bail thrice and will go for a trial on May 5.
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