Los Angeles – Sean “Diddy” Combs has sold his investment in Revolt, the media company he launched over a decade ago.
Combs’ shares in Revolt, which he held as chairman, have been fully redeemed and retired, the Los Angeles-based company said in a statement on its website on Tuesday.
Diddy Sells Off His Stake In Revolt, The Media Company He Founded In 2013
Revolt did not say how much Combs was paid for his investment in the hip-hop news and entertainment organization he launched in 2013.
According to the statement, CEO Detavio Samuels learned when he joined the organization in 2020 that “our mission is bigger than any individual.”
Diddy Sells Off His Stake In Revolt, The Media Company He Founded In 2013
Revolt also unveiled a new ownership structure that will give its employees equity in the company. The company produces online shows such as “Black Girl Stuff” and “The Life of Draco,” which stars rapper Big Draco.
A number of lawsuits filed late last year by one of the most well-known musicians and producers in hip-hop alleging sexual assault and rape have damaged Diddy’s reputation.
Diddy Sells Off His Stake In Revolt, The Media Company He Founded In 2013
R&B singer Cassie sued him in November, alleging that he subjected her to a years-long violent relationship that included beatings and rape. Several days after filing the complaint, Diddy settled with Cassie, whose full name is Casandra Ventura.
SOURCE – (AP)
