In November, after being accused of sexual assault in multiple lawsuits, Sean “Diddy” Combs stepped down as chairman of Revolt, the media company that he co-founded in 2013. Diddy’s shares in the company have now “been fully redeemed and retired,” the company announced today. The company’s largest shareholders are now the Revolt employees.
In an interview with The New York Times, Revolt’s chief executive, Detavio Samuels, said that he began to work with Diddy on the sale of his stake in January. “One-hundred percent of Sean Combs’s shares have been redeemed and retired,” Samuels emphasized. “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.”
When Diddy stepped down as the Revolt chairman last year, he was facing active lawsuits from Joi Dickerson-Neal and Liza Gardner. In addition, he had recently settled a lawsuit with ex-girlfriend Casandra Elizabeth “Cassie” Ventura. The music mogul has since been sued by a woman identified as Jane Doe, the music producer Rodney Jones Jr., former model Crystal McKinney, and, most recently, April Lampros. He also had his homes in Los Angeles and Miami raided by Homeland Security Investigations (HSI) in connection with a federal sex trafficking investigation.
Pitchfork has reached out to representatives for Diddy for comment on the sale of his Revolt shares.