Diddy Invests $2 Million Over 24 Hours to Support Black Initiatives

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Diddy opened up his wallet this weekend to bolster Black entrepreneurs and creatives while in the Atlanta area -- and he did it with a 7-figure amount that's sure to have a huge impact.

The media mogul was in town this weekend, first stopping off at an event called Invest Fest -- hosted by the Earn Your Leisure network, which offers a platform to up-and-coming Black creators and venture capitalists -- where Diddy was front and center fielding questions.

While there, he made a big announcement ... Diddy's launching an investment fund with EYL brass -- founders Rashad Bilal/Troy Millings -- to kick-start financial strategies immediately ... which will undoubtedly help their growing user base and sprawling roster of talent.

Diddy says, "I'm thrilled to join forces with Earn Your Leisure. We're going beyond discussing finances and taking action to demystify the world of investing for our community." He also said any profits from this will go toward his 3 charter schools on the East Coast.

Like we said, the fund is going to pay for educational tools and resources that teach young Black investors how to properly diversify their portfolios, and how to get their businesses off the ground ... so, a great cause. Diddy didn't stop there, though ... he donated another mil.

He also stopped off at the Cricket MEAC-SWAC Challenge Kickoff in the ATL, and followed through on a pledge he made last year ... donating a million bucks to Jackson State University Football, which will be doled out over the years in regular installments.

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Diddy adds, "Supporting historically Black colleges and universities is crucial to preserving their legacy and ensuring they continue to change lives. This donation to Jackson State is not just a financial contribution, it's an investment in the future of our culture." Big moves!