Sean “Diddy” Combs recently sold a majority stake in Revolt, the media company and television network he established in 2013. Revolt’s largest shareholders now consist of its own employees. This shift allows employees who contribute to the company’s growth to benefit from its success, aligning with the industry’s trend of equity participation.

Revolt CEO Detavio Samuels expressed pride in this transformation. He noted that their teams are transitioning from employees to owners of the business they help build. He emphasized that Revolt serves as a powerful platform for creators who influence global culture, particularly in the realm of Black voices and storytelling.

 

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Revolt confirmed that Combs’ shares have been fully redeemed and retired. Combs’ representatives have not yet responded to CNN’s request for comment. Combs stepped down as Revolt’s chairman in November after facing several civil lawsuits alleging sexual assault and other illegal activities. While Combs vehemently denied many of the claims, he has not addressed all of the allegations.

Last month, CNN released a 2016 surveillance video showing Combs physically assaulting his former girlfriend, Cassie Ventura, who filed a civil suit against him in November 2023 (since settled). Combs publicly apologized for his actions in the video two days after CNN’s report.

Federal investigators are now preparing to present Combs’ accusers to a federal grand jury, indicating that the US Justice Department may pursue an indictment. Investigators are also looking into allegations of money laundering and illegal drug activities.

Revolt Media, founded by Combs in 2013 to showcase Black culture and hip-hop, remains a prominent platform in the industry.