In the midst of a series of lawsuits accusing hip-hop mogul Diddy of sexual assault, the entrepreneurs is officially selling his stake in the media company he founded, Revolt. Diddy has been facing public scrutiny for months over sexual assault allegations that paint the mogul as a sexual and physical abuser. Due to his now-tainted reputation, the media company Revolt, wants to completely dissasociate from Diddy.
The New York Times has reported that the company announced that Diddy “has sold his majority stake in Revolt.” CEO Detavio Samuels said in an interview that following the piling lawsuits Diddy is facing, the company and him are “completely separated and dissociated from each other.” With the removal of Diddy as a major stakeholder, the company has been confirmed to be made up of Samuels as chief executive as well as its employees.
When Diddy’s former girlfriend Cassie initiated the lawsuits against him and hotel footage of him assaulting her resurfaced, it was only a matter of time until his business empire would feel the negative effects. Time and time again, Diddy has called these lawsuits “sickening” and that they are from “individuals looking for a quick payday.” In an interview ahead of the announcement, Samuels said, “100% of Sean Comb’s shares have been redeemed and retired. 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.”
Samuels also noted that since he joined Revolt in 2020, Diddy had virtually “little to no interaction with the team.” The company has over 100 full-time employees as of present. Following the release of Cassie’s hotel assault video, the company offered counselling and group therapists for its employees. It remains to be seen how Diddy’s reputation will be overtime.
