He is the richest man in hip-hop and last year his wealth was estimated by Forbes magazine to be $550million.
However, Sean 'Diddy' Combs won't have to trouble his fortune to pay for son Justin's higher education.
The talented 18-year-old, a 5 foot 9, 175-pound rising football star, has landed a $54,000 scholarship to attend a prestigious college in the United States following his graduation from high school.
On to the next stage: Diddy's son Justin will go on a $54,000 university scholarship after graduating high school today
Growing up: The 5 foot 9, 175-pound, cornerback hails from Iona Prep in New Rochelle, New York
The scholarship is only available to the most elite high school athletes, aged 19 and under.
Potential recruits must have won awards at high school level, and academically have logged test scores above the national average.
Justin officially signed his national letter of intent with his proud multimillionaire father by his side on National Signing Day back in February.
Justin signs his letter of intention surrounded by his proud family, including dad Sean 'Diddy' Combs, back right, and mother Misa Hylton, bottom left back in February
'It was worth it,' Justin told the Post. 'I got chills just signing it.'
Yesterday he tossed his tasselled cap in the air after finishing his final year of school.
Some may be surprised to find that the multimillionaire music mogul isn't footing the bill himself.
However, Diddy said he couldn't feel more blessed about his son's achievement.
Proud dad: The rap mogul tweeted his excitement over the big dayThe rap mogul said there were no words to explain how proud he was of
The father-of-five - real name Sean Combs - tweeted: 'My son graduates today! Wtf! Justin is graduating High School! Words can't explain. God is the greatest!! (sic)'
For the occasion Diddy, wore a smart tailored suit and dark sunglasses, as he sat by his son, applauding as Justin put pen to paper and put on his new UCLA cap.
'It was love at first sight,' he told the Daily New Rochelle at the time of the signing.
'When I stepped on the campus, I knew I was going to be a player there. I knew I just had to get there.'
It's time: Justin tweeted a picture of his tassel on his graduation cap
'It’s going to be surreal at first but then at the end of the day you’ve got to go to work and you’ve got to get what’s yours and show why you’ve been working hard,' Combs told the New Rochelle.
'So I’m ready for that. I can’t wait.'
His proud entrepreneur father released a statement calling Justin's commitment to UCLA 'one of the proudest moments of my life'.
'This is everything a father could want for his son, for him to excel at what he loves to do and is truly passionate about,' he said ESPN LA reports.
Justin and his dad P Diddy pictured here during a visit to UCLA
Justin is not alone when it comes to celebrity's children excelling at sports.
Will Smith's son Trey played as a wide receiver on his school’s football team alongside son of former NFL star Joe Montana, Nick, and has been offered a scholarship by FCS Northern Arizona.
While Denzel Washington's son John is a running back for the Sacramento Mountain Lions of the United Football League.
P Diddy said that watching his son sign his letter of intent was the 'proudest moment of his life'