Friday, July 30, 2010

Editor's Commentary: Puff Daddy And His Teen Son's $366,000 Ride

I know by now you probably heard that actor and music mogul, Puff Daddy, Puffy or Sean Combs, which ever you prefer, purchased his 16-year old son a Maybach for his birthday. Since appearing on ABC's 'Nightline,' he has gotten a lot of flack from the interview conducted with investigative journalist Martin Bushir, as it relates to buying his son a $366,000 plus ultra-conservative, luxury vehicle, typically reserved for the ultra rich, but not their kids.

I guess the story would have been much to do about nothing had it been Puffy's personal ride. However, since I guess the interviewer along with many of us were taken aback when we learned it was for a kid, this story created a buzz.

Now while I've shied away from gossipy celebrity topics, which really has no effect on my earnings (or for that matter the earnings of the general population as a whole), since amicably parting ways a year ago from AOL's BlackVoices. I decided I would stay true to my brand and focus on car-buying education for minorities, as opposed to automotive celebrity topics, which I despised covering. Yet, this is one topic worth having my say, since I was actually glued to the TV at the time this news program aired.

While I never thought much of the question or the interview, until I read recently on a reliable entertainment blog, that Puffy was now referring to the interviewer, Martin Bushir, as asking a racist question, as it relates to buying his teen son a Maybach. Now I thought this comment by Puffy was out of line.

While I am proud of Puffy's ability to hustle and to constantly recreate himself, some of his decisions are questionable. If Puffy really wants to be a trend-setter as opposed to a follower, he should strongly consider mimicking self-made investment billionaire Warren  Buffet, who invested over $200 million in a Chinese automotive company two years ago, building green vehicles. (Now according to a number of auto industry experts, their predicting by the year 2030, at least half of the vehicles on the road will be powered by electric batteries.)



And investment in green-technology makes a statement, especially, with the auto industry making a slow, but steady shift toward building electric-run vehicles. Now had Puffy given his son shares in a company that's on the verge of developing cutting edge technology that would have make a statement (and been a sound investment, too.)

As opposed to Puffy following everyone in the entertainment industry by  sampling music, making reality shows, creating perfumes and designing clothes, what about really being on the cutting edge? To put things into perspective, at least actor and rapper 50 Cent really made a statement and boosted his net worth, when he made well over $400 million from investing in Vitamin Water. Maybe Puff should have considered giving his son both the Maybach and a huge investment in a green car company, as opposed to an expensive car and a meager $10,000 investment, as reported by U. S. Magazine. Both GM and Nissan are on the road to releasing mass electric-built vehicles later this year, Puffy could have invested in one or both of those companies.

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