Sean “Diddy” Combs has made a significant move with his media company, Revolt, by selling a majority stake in the business.
Founded in 2013, Revolt is a Black-owned multi-platform media company that has now shifted its ownership to its employees. This new ownership model allows employees to benefit from the company’s success and aligns with the industry trend of equity participation.
CEO Detavio Samuels expressed pride in the transformation that employees will experience as they become owners of the business they help build. He highlighted Revolt’s role as a powerhouse for Black voices and culture on a global scale.
The shares held by Combs have been fully redeemed and retired, according to a spokesperson for Revolt. Combs, who stepped aside as chairman in November, is facing civil lawsuits alleging sexual assault and other illegal activities.
While Combs has denied many of the claims, federal investigators are reportedly preparing to bring accusers before a grand jury, indicating a potential indictment.
In addition to the legal challenges, federal investigators are looking into allegations of money laundering and illegal drugs involving Combs.
Despite these issues, Revolt Media continues to showcase Black culture and hip-hop since its inception in 2013. The company remains committed to providing a platform for creators that drive cultural influence worldwide.
