Sean “Diddy” Combs is launching a new online marketplace called Empower Global, aimed at promoting Black-owned businesses. The platform, which debuted last week, reflects Combs’ vision to create a modern-day Black Wall Street, inspired by the historic Greenwood district in Tulsa, Oklahoma.
Combs has invested $20 million into Empower Global, which offers products exclusively from Black entrepreneurs, including clothing, beauty products, and home decor. Designed by Black-owned companies TechSparq and ChatDesk, the platform started with 70 brands and aims to feature over 200 by year’s end.
“This is about building our own infrastructure and ecosystem,” Combs stated, emphasizing that his motivation is not financial gain but community empowerment. He expressed greater excitement about this initiative than he felt when launching Bad Boy Records.
Combs highlighted the importance of circulating wealth within the Black community, noting that the Black dollar often doesn’t last long within its own community. He believes that fostering economic unity is crucial for long-term success.
With a diverse portfolio that includes Bad Boy Records, the Sean John clothing line, and Revolt TV, Combs has made significant strides in various industries. He is also involved in potential acquisitions, such as purchasing BET, and is currently in a legal dispute with Diageo regarding allegations of racism.
“I’m passionate about demonstrating Black economic unity,” Combs said. “I won’t stop until we fuel our own economic system.”