An HBCU alum himself, Diddy first pledged the donation to Jackson State University at the 2022 BET Awards
Sean "Diddy" Combs is giving back.
The rapper and mogul, 53, had a busy Friday that ended with him writing two $1 million checks for causes that are close to his heart.
First, the “I'll Be Missing You” hitmaker headlined Invest Fest in Atlanta, where he announced a $1 million investment fund in partnership with Earn Your Leisure (EYL) and its founders, Rashad Bilal and Troy Millings.
The media platform “gives rise to emerging and established content creators from the world of business, finance, and entrepreneurship whose perspective, expertise and in-depth insight has been undervalued and overlooked,” per its website.
The fund will go toward financial literacy efforts, "[putting] the investment strategies discussed on EYL into action" and "providing a practical model for economic empowerment,” according to a press release from Diddy’s investment portfolio, Combs Global.
“I'm thrilled to join forces with Earn Your Leisure,” Combs said in the release. “We're going beyond discussing finances and taking action to demystify the world of investing for our community.”
In a video of the moment the rapper handed over the check, Diddy also shared that proceeds from the “special” fund will go toward his three Capital Preparatory charter schools in New York and Connecticut — including the one in his home neighborhood of Harlem.
— Earn Your Leisure (@EarnYourLeisure) August 27, 2023
Later in the day, the legendary producer headed to Georgia State's Center Parc Stadium for a football game — South Carolina State versus Jackson State University — where he made a sizable contribution to the latter team.
Through his organization, the Sean Combs Foundation, Diddy pledged $1 million to the Jackson, Mississippi, HBCU’s football team.
Like the EYL fund, the donation is “geared towards fostering economic empowerment and upholding the legacies of historically Black institutions,” per the release.
First announced during his Lifetime Achievement Award acceptance speech at the 2022 BET Awards, Combs said that the donation is a reflection of his “responsibility” to give back to HBCUs.
“If it wasn’t for HBCUs, I wouldn’t be here,” Combs, a graduate of Howard University, told ESPN at the Friday game.
"Supporting HBCUs is not just my honor, it’s my responsibility,” he continued. “You know, my grandmother raised me to make sure I sow my seed in my community and that’s what I’m going to continue to do.”
In the interview, Combs also noted that HBCUs are “under-resourced” — and he is “here to do something about it.”
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The producer offered more explanation behind the $1 million contribution in the press release.
"Supporting historically Black colleges and universities is crucial to preserving their legacy and ensuring they continue to change lives,” he said in a statement. "This donation to Jackson State is not just a financial contribution, it's an investment in the future of our culture."
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