P. Diddy is set to earn $75,000 to host a party in New Jersey.

The Millionaire rapper is currently touring the US with his 'Diddy - Dirty Money' tour and after venues in New York reportedly refused his asking price to host his after-show bash with them he signed to appear at Club 4 Sixty 6 in West Orange instead.

The Deal - made with promoter Vegas Style Entertainment - will see the 'Hello Good Morning' star receive the big payout, as well as the use of a new Bentley Continental GT and a private helicopter ride across the Hudson River.

It had previously been claimed Diddy had been asking New York clubs for sums of around $45,000 for the privilege of hosting the party.

An insider from one of the venues told the New York Post newspaper: "After the cost was revealed, we were not in the running. We were running away."

Last month it was revealed by Forbes magazine that Diddy is the richest artist in hip-hop, with an estimated Fortune of $475 million.

His wealth is fuelled by his Sean John clothing brand, Bad Boy Worldwide record label and his vodka brand Ciroc - a joint venture with drinks brand Diageo.