P. Diddy and his baby mama Kim Porter are cruising around the island of St. Barth on this luxury yacht but it's not all posturing and posing and trying to one-up the boat next to him ... the rap mogul took some time out from sipping Ciroc to enjoy some family time with his kids as his older son and friends did some tubing at Gouverneur beach yesterday.

Diddy, who recently said he sees his kids only on weekends due to his busy work schedule, is obviously making an effort to be a good dad this holiday season. Maybe he's trying to get on Santa's "nice" list!

P. Diddy gifted his 16 year-old son Justin with a $360,000 Maybach for his birthday Saturday night in New York.

Justin celebrated at NYC club M2 and invited more than 1000 friends to attend, along with MTV cameras to shoot what promises to be the ultimate episode of Super Sweet Sixteen.

The Jersey Shore kids were there, along with Snoop Dogg, Lil' Kim, and Chris Brown, who also performed. Quite a party for a teenager! Screw that, quite a car for a teenager!

First celebs fly commercial, now P. Diddy shills for Sean John on The Home Shopping Network?

I guess his new I Am King fragrance isn't doing as well as he'd hoped, cuz Diddy took the Cindy Crawford and Cher infomercial route on the channel, where he pulled out some sales gems like "This is not a celebrity fragrance. This is a designer luxury fragrance," said Diddy. "I went into the fragrance lab and designed this to a particular taste level. I have a very sensitive nose."

What's next, Mariah Carey shopping at Wal-Mart?

P. Diddy throws his super-famous White Party every year - only difference this time around is that he did it for a charitable cause!

Co-hosting with Ashton Kutcher, the LA event this Saturday at Guys & Dolls raised awareness for Malaria No More. And who showed up? Well, everyone! The guest list included:

Demi Moore, Mariah Carey, Nick Cannon, Lindsay Lohan, Khloe Kardashian, Russell Brand, Jonah Hill, Mel B., Shanna Moakler... even Chris Brown! Dayuuum, that's quite the party. And of course, you had to wear white.

Hmm, who's that between Brown and Amber Rose at the after party at Guys & Dolls? Oh, right - it's Rihanna clone Teyana Taylor! The aspiring singer that happens to look exactly like Brown's ex. How awk!

Considering both Jay-Z and P. Diddy were (or are) in the fashion game, we're a bit surprised neither of them we're at the Costume Institute Gala, but we're more surprised to see them out having dinner with each other at Katsuya in Hollywood!

Not that these two ever feuded much, but we didn't think one place could contain all that ego!

The music mogul appeared on Ellen today and talked about all things Diddy... but aside from Twittering, the two also discussed the Rihanna/Chris Brown situation.

Diddy told Ellen: "We don't know exactly what's going on. There are two young individuals [involved]. We need to pray for them."

He also addressed the reasons behind inviting the couple to his Miami home - ya know, where Chris was seen jetskiing nearby!

Diddy explains: "It was a dark time for them and I was there as more of a support. It's my house, and I'm allowed to give my house to whoever I want to give my house to. I don't cast a stone – cast judgment on anybody. So, if friends ask me for a favor, then I'm going to be there for a favor as long as I know the energy of the favor is positive."

Hmm, do you agree with this? Should Diddy have gotten involved at all?

He just can't make up his mind! First he flashed us the peace sign and happily posed for pictures, and then he pulled a Vanessa Hudgens. The again, someone who waxes their balls changes their name as often as he does MUST be a diva...

Personally, I don't really care, but that's just me! These stars - including Mel B. and her hubby, Jay-Z, Diddy (or whatever his name is these days) and Kate Hudson's ex Chris Robinson - all showed up at MSG last night to support their team and that's just great.

Knicks rule all!