LOS ANGELES.- Sean “Diddy” Combs sold his stake in Revolt, the compaa of means that rapper and entrepreneur founded more than a decade ago.
Revolt shares held by Combs, who served as the company’s president, have been fully redeemed and retired, the Los Angeles-based company said Tuesday in a statement on its website. Revolt did not disclose how much Combs was paid for his involvement in the hip hop news and entertainment company, which he founded in 2013.
In the statement, CEO Detavio Samuels noted that when he joined the company in 2020 he realized that: “our mission is bigger than any individual.”
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Revolt also announced a new ownership structure that will give its employees an ownership stake in the company, which streams online shows such as Black Girl Stuff y The Life of Dracowith rapper Big Draco.
The move comes as Combs’ reputation has been tarnished following several lawsuits filed late last year that raised allegations of sexual assault and rape by one of hip hop’s most recognizable artists and producers.
In November, he was sued by R&B singer Cassie, who said he subjected her to a years-long abusive relationship that included beatings and rape. Combs settled the lawsuit with Cassie, whose real name is Casandra Ventura, a few days after she came forward.
FUENTE: AP
