From PEOPLE Magazine Click to enlarge
There was caviar, cake and hip-hop, and even fans standing dockside got Champagne. Renting the RM Elegant, a 262-ft. yacht in Saint-Tropez for his July 31 Unforgivable 50 party (celebrating his fragrance, Unforgivable), Diddy made sure the bash was pure indulgence. "I wanted to really celebrate," he told PEOPLE. "This week is the only time I get to have a vacation."

Party he did, with more than 130 glam guests who feasted on steak and danced to songs from his upcoming album Press Play. Even Paris Hilton deemed the goings-on "decadent." The next afternoon, Diddy, 36, was back in party mode, hosting his annual White Party on the beach and bouncing on a trampoline with his sons Justin, 12, and Christian, 8—who, of course, were on the guest list for both bashes. Says Justin: "He's an awesome dad."

For more inside dish and exclusive photos from Diddy's party, go to www.people.com/diddyparty