Puff Daddy feels like the ''luckiest man in the world'' because of his children.

The 47-year-old music mogul - who has adopted Quincy, 26, Justin, 23, Christian, 19, twin girls D'Lila Star and Jessie James, and daughter Chance, all 10, from past relationships - was recently named the richest celebrity by Forbes magazine, with an estimated worth of $820 million, but he insists professional success ''doesn't matter'' to him as much as being a good parent.

He told People magazine: ''That doesn't matter to me. I don't care about the Forbes list. I care about being a great dad.

''I got three girls, three boys, and they're really kind, great people. They got a lot of love in their heart. I'm the luckiest man in the world.''

And the 'I'll Be Missing You' hitmaker - who has never married - is proud to have stayed close to the mothers of his children, former partners Misa Hylton-Brim, Kimberly Porter and Sarah Chapman.

He told People magazine: ''I've been truly blessed to have some great, incredible relationships that have afforded me these children by these very strong, intelligent, beautiful black women.

''The mothers of my children [are] my best friends. My hat goes off to them.''

The Bad Boy Records founder feels he is playing ''catch-up'' with his family and worries his working commitments keep him away from his kids more than he'd like.

He said: ''I'm just trying to play catch-up from all the times I was on tour and on the road and doing different things.

''I'm still working and we still deal with the issues of just not spending as much time as maybe I should.''

And Puff is a huge inspiration, as well as a friend, to his kids.

Justin - who recently graduated from UCLA and plans to attend business school in the hope of one day taking over from his dad - said: ''He's always motivating me and pushing me to be great.

''[He's] my dad and also my best friend at the same time.''

Musician Christian added: ''He is the boss of what I do in terms of making music. He oversees everything, he's the leader. We have a close relationship.''