Sean “Diddy” Combs has sold his majority stake in Revolt, the media company he founded, amid a series of sexual assault allegations. Detavio Samuels, Revolt’s CEO, informed The New York Times that Combs began the separation process in January following several lawsuits against him.
Samuels stated, “One hundred percent of Sean Combs’ shares have been redeemed and retired. He no longer holds any position as chairman or board member. Our association has been fully severed.”
The New York Times reported that Revolt’s employees now own the largest share of the company, although the specific amount Combs paid for his stake has not been disclosed. NBC News confirmed that Revolt will remain black-owned and operated, with a structure allowing employees to benefit from the company’s growth.
In November 2023, Combs temporarily stepped back from the music-focused television network he co-founded with Andy Schuon in 2013. Revolt announced that the “I’ll Be Missing You” artist would no longer serve as chairman, though a representative described it as a temporary move.
Since November 2023, Combs has faced eight civil lawsuits. At least six individuals have accused him of sexual assault or harassment, with the most recent lawsuit filed on May 23. Some of these lawsuits include allegations of sex trafficking and claims that Combs drugged individuals against their will.
In November 2023, Combs’ ex-girlfriend Cassie filed a lawsuit accusing him of rape and sex trafficking during their decade-long relationship. Cassie, whose real name is Casandra Ventura, alleged a cycle of abuse and violence, including a 2018 rape after she attempted to leave him.
Combs’ lawyer denied the allegations, calling them “offensive and outrageous.” On December 6, Combs addressed the accusations, stating, “ENOUGH IS ENOUGH. For the last couple of weeks, I have sat silently and watched people try to assassinate my character, destroy my reputation and my legacy. Sickening allegations have been made against me by individuals looking for a quick payday.”
By March 2024, federal agents raided Combs’ properties as part of an ongoing investigation. A Homeland Security Investigations representative confirmed this to PEOPLE. After a surveillance video from 2016 surfaced showing Combs violently beating Cassie in a hotel, he apologized for his actions.
There is also speculation that Combs might face criminal charges. Federal investigators, who raided his homes earlier this year, are looking into allegations of money laundering and illegal drug activities, according to CNN.
