Diddy Sells Majority Stake in Revolt to Employees, Empowering Staff Ownership

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    Revolt Reveals New Leadership and Ownership Structure Following Diddy’s Departure

    Revolt, the media and television company founded by Sean “Diddy” Combs, has announced new leadership following Combs’ decision to step down and sell his majority stake. The company’s current employees are set to become the biggest shareholder group of Revolt, with CEO Detavio Samuels leading the way.

    In a statement, Samuels expressed his excitement for the future of Revolt, calling it the “most revolutionary chapter yet.” He highlighted the company’s mission to empower creators and entrepreneurs globally, particularly within the Black community. Samuels emphasized Revolt’s commitment to reinvesting $50 million annually into the Black community and ensuring creators have a stake in the content they help create.

    Under the new leadership structure, Revolt will remain Black-owned, with around 80% of the staff being people of color. Combs’ departure from the company in November 2023 came amidst a lawsuit from his former girlfriend, Casandra “Cassie” Ventura, who accused him of sexual and physical abuse. Despite initially denying the allegations, Combs offered an apology after video footage of the assault was released by CNN.

    Shares previously held by Combs have since been redeemed and retired, marking a new era for Revolt under the leadership of its dedicated employees. The company’s commitment to uplifting Black voices and empowering its community remains at the forefront of its mission as it enters this new chapter of growth and transformation.