Sean “Diddy” Combs Sells Majority Stake in Revolt Amid Sexual Assault Allegations

Revolt, the media company co-founded by Sean “Diddy” Combs, has undergone a seismic shift in ownership. Combs, facing multiple sexual assault allegations, recently sold his majority stake in the company. The reins now pass to Revolt’s own employees, marking a rare and transformative structure in the media landscape.

In a statement released yesterday, Revolt CEO Detavio Samuels confirmed the transition: “One hundred percent of Sean Combs’ shares have been redeemed and retired. He is no longer chairman. He is no longer on the board. He has no shares, no equity in Revolt. We have completely separated and dissociated from each other.”

This move positions Revolt’s employees as the new stewards of the company, a groundbreaking shift that reflects their commitment to amplifying Black culture globally. Samuels expressed pride in the transformation: “Our teams will experience a shift from being employees to owners of the business they are helping to build. Revolt’s superpower lies in being the home for creators who move culture globally.”

Combs’ departure from the board occurred last November when the allegations surfaced. The chart-topping artist faced claims of sexual harassment directed at colleagues and other women in the music industry. Additionally, he settled a claim related to physical abuse against his ex-partner and fellow musician, Cassie.

The recent release of surveillance video from 2016, showing Combs violently assaulting Cassie in a hotel, further intensified scrutiny. Employees at Revolt expressed deep concern upon viewing the footage, emphasizing their commitment to a safe and respectful workplace.

Speculation now swirls around Combs potentially facing a criminal indictment. Earlier this year, federal investigators raided his homes, probing allegations of money laundering and illegal drug activities. CNN reported that the investigation remains ongoing.

Revolt’s transition to employee ownership represents a bold step toward reshaping media dynamics, even as Combs’ legal battles continue.

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Release date

Lydbog: 6. juni 2024