Sean "Diddy" Combs was recognized for his contributions to music and entertainment, receiving the Founders Award at the ASCAP Rhythm and Soul Awards in Beverly Hills, Calif., Friday (June 24).

Combs, who was the main event among several other artists, songwriters and producers all acknowledged for their hit singles, was honored by last year's recipient, Dr. Dre. Amid a video montage of congratulations featuring the likes of Pharrell Williams, Swizz Beatz and Lyor Cohen, the Bad Boy labelhead was also the subject of a musical tribute mashing up several songs that he has produced over a nearly two decade career.

"I truly, truly appreciate this, the feeling of being acknowledged by your peers, I definitely feel comfortable calling ya'll my family," Combs said at the ceremony. "Tonight I can honestly say I only wished I could be here one day, this is a humbling experience. Being in the music industry [is] a dream I chased for many years."

According to Combs, his love affair with music began at 5 years old. "Music at times became my best friend when no one else was there, and later down the road music even saved my life," he explained.

Beginning his career as a party promoter while attending Howard University in Washington D.C., Combs went on to become an intern at Uptown Records before breaking out on his own. With numerous accomplishments and several businesses under his belt, the hip-hop mogul noted that there are times when he is not completely present. "In the past I never took the time to live in the moment, I never took the time to breathe," he revealed. "Tonight is different. This is a special moment that I'll never forget."

Among the night's other big awards included trophies for gospel duo Mary, Mary who received the Golden Note Award and producers Mathew "Boi-1da" Samuels and Noah "40" Shebib, who tied with Ludacris for the Songwriters of the Year Award for their work with Drake. The Canadian rapper also made a surprise appearance at the show to present his longtime friends and collaborators with their award. "I just wanted to personally be here tonight and let you know how proud I am of these individuals," Drake said. "I'm honored to honor you tonight."

The duo also received recognition for their work on Alicia Key's 'Un-thinkable [I'm Ready]' along with Kerry "Krucial" Brothers while singer Miguel lit up the ceremony with a performance of his single 'Sure Thing' alongside Pusha T.

Watch Diddy-Dirty Money's 'Coming Home'

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