Diddy dug into his deep pockets over the weekend, and pulled out lots and lots of Benjamins (I’m talking 10,000 bundles) to donate to Howard University.

The $1 million donation went toward the HBCU’s business school where a scholarship will be set up in the mogul’s name.

The Sean Combs Scholarship Fund ” will help provide life-altering opportunities for our students, particularly at a time when many come to Howard struggling to meet ever-increasing financial needs,” says Howard University President, Dr. Wayne A.I. Frederick.

Diddy presented the check to Dr. Frederick during the Bad Boy Family Reunion Tour at Verizon Center in D.C. Friday.

“I was blessed to receive a great education from Howard University – one of the best schools in the world – and it helped to fuel my success in business and life. This scholarship will make it possible for the next generation of leaders to pursue their dreams and achieve greatness,” said Sean “Diddy” Combs. “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.”

According to Look to the Stars, Howard will start awarding scholarships Fall 2017 to undergrad business students with a 3.0 GPA with a financial need. The lucky recipients will also get a summer internship at Bad Boy Entertainment or Revolt Media.