Revolt Employees Become Majority Owners as Diddy’s Shares are “Redeemed and Retired”

In a groundbreaking move in the Black media space, Diddy’s former Revolt shares have been “redeemed and retired” as the company’s employees have now become the majority owners. The media network announced the historic shift on social media, expressing pride in their newly projected largest shareholder group being their current employees.

Founded by Diddy in 2013, Revolt saw the music mogul resign from his position as chairman last year amidst allegations of sexual assault. CEO Detavio Samuels shared plans for the company’s future under the new ownership model, emphasizing the benefits of incentivizing employees with equity.

Under this new structure, employees will hold the largest equity shares, with others owning smaller portions of the company. Shea Moisture founder Richelieu Dennis is said to have purchased Diddy’s shares but will not be involved in Revolt’s ownership.

Samuels envisions Revolt setting a new industry standard for employee ownership, aiming for a billion-dollar valuation that would generate generational wealth for the staff. The company’s mission remains focused on creating meaningful content for the culture and amplifying the voices of Black people.

Revolt’s announcement of Diddy’s departure highlighted the network’s commitment to its mission, ensuring a continued focus on serving the Black community. With this shift towards employee ownership, Revolt is poised to make waves in the media industry and empower its workforce for long-term success.