The Bad Boy Records mogul invited 500 people to celebrate with him during the Sean “Diddy” Combs’ Birthday Celebration Presented by Ciroc Vodka. It was like prom night with an open bar as guests were treated to gallons of champagne and Ciroc vodka topped off with a silver confetti drop.

Diddy — who boasts an estimated net worth of $346 million – decorated the venue with a $30,000 orchid display, a black dance floor, and a black chandelier.

“He really pushed the boat out for this one – and then some. It was an amazing party and Diddy was on great form,” a source told The New York Post on Sunday.

There was also a private performance by music legend Al Green.

Memoirs, which was first slated for an August 25 release via Island Def Jam, will now be available September 15. According to the Universal Music Group website, Carey’s new single, “Obsessed,” is at No. 11 on the Billboard Hot 100 this week.

A new date has not yet been scheduled for Rebirth. In an interview with MTV News last week, Diddy confessed that he was pushing back his album’s release to avoid competition with hip-hop heavyweights Jay-Z and Drake.

On CBS’ The Late Show Thursday, hip-hop mogul Diddy revealed that the King of Pop showed up — unannounced — to his annual White Party six years begging for a dance with Beyonce.

Well, that’s interesting….

The show follows 42 musicians vying for a chance to tour with the Bad Boy mogul –who also fronts Making The Band and I Want To Work For Diddy — in support of his new “hip-hop soul” album, Last Train To Paris.

Series Tagline: You’ve seen Diddy create a hip-hop group, a female pop group, and a male R and B group. Now the grande impresario is creating a group for himself, to perform on what he is calling his last album. Diddy and his team will leave no stone unturned as they scour the country for musicians and back-up singers to bring his music to life.

Sean “Diddy” Combs, who controversially lent his Miami home to Chris Brown for the purpose of reuniting with his battered girlfriend Rihanna, tried to explain the situation to talk show host Ellen DeGeneres on Tuesday.

Ellen explained that she didn’t want you women thinking it’s OK to go back to a guy who hit her, and Diddy replied, “I don’t think it’s right for anybody to hit anybody…. We know sometimes relationships get ugly (but) we don’t know exactly what’s going on (in this one). We need to pray for them and we need to do things to support them.”

The hip-hop mogul says he was being “a friend” when he welcomed Chris and Rihanna to his casa.

“Its My House. Im Allowed To Give My House To Whoever…I don’t cast a judgment on anybody. It’s a dark time for them, and I’m there for support.”

Sean “Diddy” Combs counts ass massage as one of his Top Ten Favorite Techniques for obtaining relaxation.

“Most people get foot massages but I get my buttocks massaged,” the hip-hop mogul said in an interview with E! News this week.

Bad Boy Records bosss Sean “Diddy” Combs has spent $1 million on filming for an audition tape he hopes will bolster his chances of replacing actor Daniel Craig and becoming the first black actor to play British secret agent James Bond.

The hip-hop mogul flew from New York to the South of France to shoot the footage.

“I would like to also announce that this is my audition tape for the next James Bond. I feel like I am best suited to be the next James Bond,” Diddy says in a video posted on his YouTube page.

He adds, “I think the role could easily be played by a black actor, because the character created by Ian Fleming in the 50s has undergone a great deal of evolution and continues to be updated.”

Diddy is taking on the McCain campaign again. In his latest YouTube vlog, the hip-hop mogul rips into the Republican presidential hopeful for referring to Senator Barack Obama as “that one” during their presidential debate in Nashville on Tuesday.

“This is 2008, not 1962!” Diddy screams in the video titled “John McCain Scares Me Even More than Sarah Palin.”

McCain “referred to a grown man as ‘that one.’ A man that has worked hard, that has done the impossible, has fought for every amount of respect that he should deserve,” Diddy fumed. “Whether you agree with somebody or not, you are trying to be the President of the United States and you’re referring to another man as ‘that one?’”

“We’ll see you Nov. 4 at the polls.”

The video fades to black with the message, “Vote for ‘That One’ on Nov. 4.”

The fact that Governor Sarah Palin cannot name a single newspaper that she reads on a regular basis has sent hip-hop mogul Diddy hiding under his sheets.

Diddy’s got a little too much time on his hands–but he does have a point.