Sean “Diddy” Combs Sells Stake In Revolt Following Multiple Assault Allegations, Employees Now Own Majority Stake

Peter White

4 June 2024 at 12:41 pm·2-min read

Revolt, the media company founded by embattled hip hop star Sean “Diddy” Combs is under new ownership.

Combs has sold his stake in the business and employees now make up the largest shareholder group.

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It comes as Combs is fighting a number of legal battles and charges including the alleged assault of his former girlfriend Cassie Ventura as well as multiple sexual assault allegations.

Diddy co-founded Revolt with Andy Schuon in 2013. Combs stepped away from it in November 2023 after sexual misconduct allegations against him first surfaced.

Last month, employees at the company, which is behind series such as Drinks Champs, said they were “deeply saddened and disturbed by the recent video circulation of our former chairman”.

Employee participation will be allocated over the next few months and staff will receive a detailed breakdown of the process, the company said. Shares held by the company’s former chair, Sean “Diddy” Combs, have been fully redeemed and retired.

CEO Detavio Samuels said, “Today, we are most proud of the transformation that our teams will experience as they shift from being employees to owners of the business they are helping to build. Black culture is global culture, and Revolt’s superpower is being the home for creators that move culture globally, allowing us to build the most powerful storytelling engine for Black voices. We succeed because we have a dedicated team who has been committed to advancing our purpose, our community, and our culture every single day. Without question, they deserve participation in our growth – and I could not be more honored to continue on this journey with them, leveraging our collective strength, pushing boundaries, and achieving new heights together.”

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