Diddy is opening his cheque book and giving back. The Bad Boy mogul has announced he will pledge $1 million to Howard University’s School of Business, launching the Sean Combs Scholarship Fund. On Thursday night (Sept. 23), the CEO/rapper made the announcement on stage in Washington, D.C., presenting the cheque to Howard’s president Dr. Wayne Frederick during his “Bad Boy Family Reunion Tour” stop.

I was blessed to receive a great education from Howard University! It helped to fuel my success in business and life,” said Diddy in a message posted on Instagram. “This scholarship will make it possible for the next generation of leaders to pursue their dreams and achieve greatness! When I delivered the commencement address at Howard, I asked the students “Do you know how powerful you are?” I know that Howard students are intelligent, talented, passionate, and their hard work will shape the future. This gift will make sure the whole world knows what they are capable of doing!!.”

Watch the moment below.

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Previously: Diddy Brings Out Kanye West During Bad Boy Reunion Tour at MSG