Sean Diddy Combs in an interview expressed his dissapointment in the lack of Black CEO’s in the entertainment industry.
The Am Coming Home rapper said,”You have these record companies that are making so much money off black culture, our art form, but they’re not investing or even believing in us. For all the billions of dollars that these black executives have been able to make them, there’s still hesitation to put them in the top-level positions.”
He added,”They’ll go and they’ll recruit cats from overseas. It makes sense to give executives of color a chance and embrace the evolution, instead of it being that we can only make it to president, senior Vice President.There’s no black CEO of a major record company. That’s just as bad as the fact that there are no black majority owners in the NFL. That’s what really motivates me.”
The media mogul was talking about how people such as Jermaine Dupri and so many other artists have been recruited as executives but never make it to top positions such as CEO.Diddy also praised the success of Black Panther and was not surprised by the success of “Black Panther” or even Kanye West’s Addidas shoe deal.
According to the music mogul, it’s a well-known fact that when you let black people be great, they’ll always over deliver.
He stated,”We only get 5% of the venture capital invested in things that are black-owned — black-owned businesses, black-owned ideas, black-owned IP. You can’t do anything without that money, without resources. But when we do get the resources, we over-deliver. When adidas invests in Kanye and it’s done properly, you have the right results. When Live Nation invests in artists and puts them in arenas the same way U2 would be, you have the right results. Black Panther, Black-ish, fashion; it’s all about access. If you’re blocked out of the resources, you can’t compete. And that’s my whole thing to be able to come and compete.”
Diddy praised the success of Black Panther and stated that it is a sad realization that black talent has been ignored for so long.