Sean 'Diddy' Combs Cashes In: Jailed Music Mogul Sells Star Island Waterfront Mansion for $55Million — Months After Offloading His Lavish Private Jet
Sean Combs is serving a 40-month sentence.
July 14 2026, Published 5:20 p.m. ET
Sean "Diddy" Combs has made a series of major financial moves while behind bars.
The music mogul may be serving out a 40-month sentence, but that's not stopping him from selling off some of his pricey property, including his private jet and his famous Miami mansion, Star Island, RadarOnline.com can reveal.
Sean Combs Sold His $55Million Property
Combs sold his private jet and Miami property.
It's the same Miami mansion that was raided by police in connection with an investigation in early 2024. Prior to that, it was often home to parties hosted by the 56-year-old.
The property was sold off to a Newport News-based company led by John A. Franklin of Virginia Beach, according to The Real Deal. Diddy reportedly made $55million by selling the nearly 8,000-square-foot estate.
The sudden sale came after Combs off-loaded his private jet. He sold a matte black Gulfstream G550, estimated to be worth between $20million and $30million.
Gloria Estefan's Former Property Was Also Snatched Up
The property was previously sold to Combs in 2021.
Franklin also reportedly snatched up a nearby property, which previously belonged to Gloria and Emilio Estefan, through a company associated with him.
The couple previously sold the property – which includes a six-bedroom, eight-and-a-half-bathroom house – to Combs in 2021.
The home is situated on a 1.3-acre lot with 240 feet of water frontage. It includes a two-story home and a guest house, as well as a pool, spa and a dock.
Franklin's deal appeared to occur off-market with a mortgage taken out from San Diego-based Axos Bank.
FBI Raided Miami Property in 2024
The Miami home was raided by the FBI.
As Radar previously reported, Combs' mansion was raided by the FBI while they were conducting an investigation into s-- trafficking allegations.
In response to the raid, a rep for Combs said at the time, "This unprecedented ambush – paired with an advanced, coordinated media presence – leads to a premature rush to judgment of Mr. Combs and is nothing more than a witch hunt based on meritless accusations made in civil lawsuits. There has been no finding of criminal or civil liability with any of these allegations. Mr. Combs is innocent and will continue to fight every single day to clear his name.”
They added, "Mr. Combs was never detained but spoke to and cooperated with authorities. Despite media speculation, neither Mr. Combs nor any of his family members have been arrested nor has their ability to travel been restricted in any way."
Diddy Denies Allegations
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Combs was acquitted on several charges in his 2025 trial.
During his trial in 2025, prosecutors showed jurors items they claimed were obtained during the raid.
Special agent Gerard Gannon, who was on the ground in Miami, testified to provide insight about the confiscated materials. He showed both photographs and held physical items which were said to be taken from the property.
The government reportedly found copious amounts of baby oil and lube at the premises. Additionally, authorities confiscated some guns from the property.
Ultimately, Diddy was acquitted of s-- trafficking and racketeering conspiracy charges. However, he was convicted on transportation to engage in prostitution. His team is in the process of appealing the conviction as they asked for a reduced sentencing.
