Check out our Diddy/Dirty Money section for more posts about Diddy/Dirty Money.
Yesterday, Diddy was honored by ASCAP, the American Society of Composers, Authors and Publishers, who presented him with the ASCAP Founders Award at 24th Annual Rhythm & Soul Music Awards.

Past recipients have included Stevie Wonder, Paul McCartney, Bob Dylan, Smokey Robinson, Berry Gordy Jr. and Motown Industries, Billy Joel, Garth Brooks, James Taylor, Neil Young, Annie Lennox, Dr. Dre and Rod Stewart. reports that Dr. Dre was on hand to introduce Diddy. In the clip below, you can watch Dr. Dre's speech as well as a portion of Diddy's.

Before Dr. Dre went on, videotaped messages from Pharrell, Swizz Beatz, Janelle MonŠe, Dawn Richard and Kalenna of Dirty Money, as well as others, were played.

"If you asked a group of people what hustle is, you're probably going to get a lot of different answers," said Dr. Dre. "But, I think it's doing whatever you need to do to become successful. It takes focus, determination and playing the game a little harder than everybody around you. Sean "P. Diddy" Combs is a hustler. As a matter of fact, he's what I call an extreme hustler. He's a producer, a performer, an actor. He has created a clothing empire and he's also responsible for one of my favorite vodkas. But, we're here tonight to talk about the music - the most important part. The foundation of everything he's built. In the midst of everything that he's accomplished, he's easy to forget what got him there."

"Puff has been the creative force behind some of our biggest hits and has helped push rap music into the worldwide industry it is today. He also introduced us to one of the greates emcees of our time, The Notorious B.I.G. I've had the opportunity to do a little business with this man - we designed and put out a set of headphones together called Diddybeats. So, I had a chance to experience his hustle myself and, believe me, it's no joke. I've been inspired, I've been motivated by this man's hustle."

In his acceptable speech, Diddy talked about what the honor meant to him and shared his appreciation for Dr. Dre.

"Y'all don't know how happy I am right now," he said. "I am truly happy. I don't be like really skipping around during the day being extra, extra happy. I am extra, extra happy right now. I truly, truly, truly appreciate this. The feeling of just being acknowledged by your peers and I definitely feel comfortable and love calling you my family. It's so many people out there that I've grown up with and worked in the studio with and hung out with and they've been by my side to help me through my ups and my downs. Y'all are my family and y'all are definitely one of the reasons why I'm standing here today. Thank y'all so much for this award."

"I don't know if y'all know my favorite producer in the world because we're in a room with producers and writers - you know, this room right here runs the world. If y'all don't know, music runs the world at the end of the day. I know y'all don't realize that, but that's the way I feel about it. I just think it all has something to do with something - some of y'all may not be as dramatic as me. [jokingly] I mean, God runs the world - I wasn't saying that. I was just like... you got what I'm saying. [laughter] You have to look up to somebody. Somebody has to inspire you and Dr. Dre, my whole life, has just been my favorite producer and has inspired me so much. So, this means so much for you to take - I know you don't even do the public speaking. Thank you so much, man, for coming out. I appreciate you."

"I always get asked the question, 'did you ever think you would be where you are today?' And because I try to exude an extraordinary amount of confidence, I usually say, 'yeah, yeah, I did,' but I don't say that in a way that I'm trying to be cocky. I just believe that in order for my dreams to come true, I had to put 100% faith in my dreams and in God and truly believe that I would be here. One thing about tonight is different. Tonight, I can honestly say I only wished that I would be here one day. This is truly a humbling experience and it's a bessing and it's something that I'm not going to take for granted."
Global Grind also quotes Diddy talking about how he was homeless for a couple of weeks and how two friends, who were in attendance yesterday, let him stay with them.

"Two of the people that helped me chase that dream are here with me tonight. I met them at Howard University and we became great friends. I can say you truly know who your friends are when you're at your lowest point. While I was at Howard University, I was homeless for a minute, for like two weeks it was rough than a motherf*****. [Laughter] It's cold in DC, too, and Howard ain't the best neighborhood to be homeless in. But, my friends let me sleep on their couch and this was during the time when I wasn't the best house guest in the world. They still let me stay there and years later I was able to return the favor when they moved in with me at my crib in Scarsdale. I just want to say that I love you, [Bad Boy President] Harve Pierre and my man Mark Pitts [former manager of The Notorious B.I.G.]."