Puff Daddy 'Purchases Massive Estate Near Playboy Mansion

Puff Daddy is reportedly the newest homeowner in the prestigious Holmby Hills neighbourhood. The music mogul, who's estimated net worth is $700m, recently closed escrow on a $40m estate in the exclusive Los Angeles enclave where Michael Jackson died and where Hugh Hefner currently resides. According to the Los Angeles Times, the property comes with a 17,000-square-foot two-story main house and 3,000-square-foot guesthouse.