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Detavio Samuels And Employees Become Majority Owners Of Revolt, Diddy Doesn’t Own A Single Share

Detavio Samuels And Employees Become Majority Owners Of Revolt, Diddy Doesn’t Own A Single Share

Revolt

Sean Combs (L) photo via Instagram/ Detavio Samuels with the staff of Revolt

Hip-hop mogul Sean “Diddy” Combs, the founder of Revolt, has sold his majority stake in the media company amidst mounting legal challenges. The company’s ownership is now primarily in the hands of its employees, led by CEO Detavio Samuels.

Revolt, known for its online magazine and popular shows such as “Drink Champs,” “The Jason Lee Show,” and “Caresha Please,” was founded by Combs over a decade ago with the vision of increasing Black representation in the media industry. However, in January, following a series of lawsuits accusing Combs of sexual and physical abuse, he began the process of separating from the company.

The largest shareholder group at Revolt is now composed of its employees, as confirmed by CEO Detavio Samuels in an interview with The New York Times prior to the official announcement. “One-hundred percent of Sean Combs’s shares have been redeemed and retired,” Samuels stated. “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.”

The company employs over 110 full-time staff, about 80 percent of whom are people of color.

The decision to sell comes in the wake of significant legal and reputational challenges for Combs. Since November, his business empire has been under intense scrutiny after Casandra Ventura, known professionally as Cassie and Combs’s former girlfriend, filed a lawsuit accusing him of years of physical and sexual abuse. Though the lawsuit was settled quickly, it prompted additional lawsuits from five other women alleging sexual assault. Combs has denied these allegations, labeling them as “sickening” and motivated by individuals seeking financial gain. There was also a video of Combs physically attacking Ventura in 2016; Combs made a full admission via video after its release.

There has been speculation that Combs could soon face a criminal indictment, after federal investigators raided his homes earlier this year. Federal investigators are investigating allegations of money laundering and illegal drugs, CNN reported

Sean Combs (L) photo via Instagram, https://www.instagram.com/diddy/?hl=en/ Detavio Samuels with the staff of Revolt, photo via Instagram, https://www.instagram.com/p/C7zgFm1PcPr/?hl=en