Now That Diddy is Out at Revolt, Here Are The Surprising New Black Owners

Recently Revolt revealed new leadership since Sean “Diddy” Combs—who founded the media and television company—stepped down and sold his majority stake. Try guessing who will take over.

The company’s current employees are set to become the biggest shareholder group of Revolt.

CEO Detavio Samuels explained the change in a statement. “We are stepping into the most revolutionary chapter yet for Revolt. When I joined in 2020, I quickly realized two things: Our mission is bigger than any individual, and we are the largest engine for transformative change that just so happens to be a media company,” Samuels said.

He continued:

“Over the past four years, this engine has created countless opportunities to build wealth for our community and empower creators and entrepreneurs globally, which includes our reinvestment of $50 million annually into the Black community, funding Black entrepreneurs with no exchange of equity, and ensuring creators have upside participation in the content IP we co-create...We are most proud of the transformation that our teams will experience as they shift from being employees to owners of the business they are helping to build. Black culture is global culture, and REVOLT’s superpower is being the home for creators that move culture globally, allowing us to build the most powerful storytelling engine for Black voices.”

Under the new structure, Revolt will stay Black-owned (around 80% of the staff are people of color). Combs left the company in November 2023 following a damning lawsuit from his former girlfriend Casandra “Cassie” Ventura. Ventura stated that Combs sexually and physically abused her throughout the course of their relationship.

Combs initially denied the allegations but when CNN released video footage of the mogul assaulting Ventura, he offered an apology. Per Revolt, shares previously held by Combs have “been fully redeemed and retired.”