“We're completely separated and disconnected from each other,” said Diddy's Revolt CEO
Sean Combs no longer owns Revolt. On Tuesday, the organization announced that Diddy, who is currently embroiled in numerous disturbing allegations of sexual and physical abuse, has sold his majority stake in the media company he co-founded in 2013.
“One hundred percent of Sean Combs' stock has been bought out and retired,” said Revolt CEO Detavio Samuels. The New York Times. “He is no longer president. It is no longer on the board. He has no shares or equity in Revolt. We are completely separated and disconnected from each other.”
Samuels confirmed to the outlet that the company's largest shareholder is now its employees, though he did not say how much Combs was paid for his stake.
“Today, we are very proud of the transformation our teams will experience as they shift from employees to owners of the business they help build,” Samuels said in a separate statement. “Black culture is global culture, and Revolt's superpower is home to creators who move culture globally, allowing us to build the most powerful storytelling engine for Black voices.”
Combs previously resigned from Revolt's board as chairman late last year after Cassie Ventura accused him of physical and sexual abuse in a lawsuit that was settled a day later. He has also sold his stake in DeLeón tequila.
Last month, after hotel surveillance video was discovered showing Combs physically assaulting Cassie in a hotel hallway in 2016, Revolt employees released a statement saying that “deeply saddened and troubled“, from the footage.
News from Revolt also arrives about a week later Rolling rock released a six-month investigation into the disgraced music mogul's prolonged history of violence with dozens of former Bad Boy friends, employees and artists alleging abuse.
from our partners at https://www.rollingstone.com/music/music-news/sean-combs-sells-stake-in-revolt-media-company-co-founded-1235032802/
