Sean "P Diddy" Combs Buys $40 Million Home in Holmby Hills

Mogul, rapper and clothing entrepreneur Sean "P Diddy" Combs is one of the richest men in the rap game. And he is sure spending his estimated $700 million net worth momentously.

Diddy has bought a newly built $40 million mansion in the celebrity infested area of Holmby Hills, the western part of Los Angeles which borders Beverly Hills.

Drum roll please... the 17,000 square-foot house come equipped with a 35-seat theater, wine room, gym, one acre grounds of a lagoon-style swimming pool and grotto.

The news of his purchase went quietly and was first revealed by L.A. Times. The property was previously sold to developer Niles Niami in May 2012 for $13,750,000. Niles and his team gave the mansion a complete face-lift. The main house (yes there a few) that encloses the gym and wine room also comes with 8 bedrooms and 11 baths.

Here is a list of few mega-celebs that have called Holmby Hill their home: The Late Walt Disney lived in the neighborhood until his house was demolished in 2001 due to asbestos, it has been replace by the Carolwood Estate owned by investor Zachary Styles. Aaron Spelling raised his daughter Tori Spelling in an $85 million property. Michael Jackson who died in his Holmby Hills home where it was eventually purchased by managing director at Cerberus Capital Management, Steven Mayer, for $18 million.

The success that Combs has created for himself was something that he always had in himself, however how big he would really get was unknown.

"I always felt that I would be somebody, but it still surprises me. Like when I drive through Times Square and see my billboard. Or when I got a standing ovation on Broadway for my role in A Raisin in the Sun. Or when I finished the marathon. Or when I perform at Madison Square Garden. That's when I think, 'I didn't know it would be like this,'" Combs reveals to Oprah in a 2010 interview.