*Entrepreneur Sean “Diddy” Combs has announced plans to launch a business school in New York to share his success with budding entrepreneurs.

The mogul has been sitting on top of a million-dollar empire since his days as an intern for Uptown’s Andre Harrell. He’s now CEO of Bad Boy Records and Sean John Clothing, the executive producer of MTV’s “Making The Band” and VH1’s “I Wanna Work For Diddy,” owns a restaurant chain called Justin’s, and enjoys a development deal with Ciroc vodka.

He told CNN, “I want to have an academy that’s known for building leaders. I feel that’s one of the things I can have an impact on.”

Diddy is determined to be a good role model for kids and is convinced launching his own school is the best hands-on approach.

“I want to take on more responsibility. I’m still honestly in search of how I can have the most positive effect that I can have,” he said.