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Diddy’s homeland security raids uncover 8 mortgages on opulent Los Angeles and Miami homes
Diddy, the renowned rapper and entrepreneur, has reportedly secured a staggering $140 million from multiple banks to finance his opulent property portfolio, fueling speculation about the true extent of his purported $1 billion fortune.
This loan amount potentially sets a record for the largest home loan ever taken out by a Hollywood personality.
The 54-year-old mogul has relied on several mortgages to acquire three luxurious mansions across Los Angeles and Miami.
On Monday, Homeland Security conducted raids on all three of his properties amid mounting lawsuits alleging sexual harassment and rape.
Agents thoroughly searched the residences, seizing boxes and bags of potential evidence. One substantial loan amounting to $23 million must be settled by 2029.
In 2022, Forbes provided an estimate suggesting that he possessed a net worth of $1 billion, despite his financial complexities.
The singer acquired his lavish Los Angeles residence for $39 million in August 2014, nestled in the upscale neighborhood of Holmby Hills.
Boasting eight bedrooms, 11 bathrooms, and a unique underwater swimming tunnel leading to a grotto, the property epitomizes luxury living.
However, records indicate that his LA mansion is encumbered with two mortgages from the Bank of America, each totaling $25.35 million.
Further complicating matters are acquisitions in Miami Beach’s affluent Star Island area, where both of his luxury estates were subject to raids this week as part of a sex trafficking investigation.
Diddy purchased a sprawling nine-bedroom, 12-bathroom waterfront residence in November 2003 for $14.5 million from music industry titan Tommy Mottola, previously linked with stars like Mariah Carey and Diddy’s ex, Jennifer Lopez.
