Diddy and Bay tipped to be future billionaires by Forbes editors

Washington: Hip-hop mogul Sean Combs and ‘Transformers’ director Michael Bay have been labeled as the next entertainment billionaires by Forbes magazine editors.

Combs, 41, who has built up a vast empire encompassing music, fashion and lifestyle products, is said to be worth an estimated 500 million dollars, while his stock in the Ciroc vodka brand has also helped to boost his fortune.

Bay, 46, has been raking in the money from ownership stakes in his blockbuster ‘Transformers’ franchise.

The latest release in the action series, ‘Transformers: Dark of the Moon’, has grossed 1.11 billion dollars worldwide to become the fifth highest-grossing film of all time, thereby taking his net worth to be around 410 million dollars, Contactmusic reported.

Meanwhile, ‘Interscope Records’ boss and producer Jimmy Iovine also makes the cut.

According to Forbes`` The Future 400 list, his 400 million dollars fortune means he, too, is fast on the way to becoming a billionaire.

ANI

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