Diddy decided to extend some financial wisdom to the Black community this week and some people are praising him for doing so while others call him a hypocrite.
This week, the 51-year-old music mogul took to Instagram stories to broadcast his speech on investing.
Diddy criticized people for foolishly spending their income on lavish and costly jewelry like a Richard Millie watch, which can cost up to $2 million.
Diddy says even though he enjoys the finer things in life, he cautioned people that buying the costly watch that they are being “tricked.”
“I’m not a hater I’m a connoisseur of fly s–t and I’m just telling y’all getting tricked by the Richard Millie.”
Diddy says the watch is not worth it and compared it to the Timex watch, a watch that can run as low as $20.
“Richard Millie is like a Timex or some s–t like that. You understand what I’m saying. Y’all it’s not hot. It’s not hot. It’s not hot. I have two or three. I never pull them out, they ugly. I don’t even want to hate. I don’t even know Richard Millie but f–k it I’m on some Black s–t. Black man save your money and go buy a house.”
Diddy received some backlash for making the comments, some even pointing out that he owns the watch, which prompted the mogul to go back on instagram yet again.
“Everybody pipe down it’s my opinion. I love fly s–t that’s my opinion.”
Diddy then matched up his initial comparison between the watches to two different luxury cars: Rolls Royce Phantom and Bentley Mulsanne.
“Get some property Black man and woman. Let’s go. We know what to do. I tricked but I got some property.”
The viral video received praise by many who respected Diddy for explaining finance and investment to the Black community.