In November, Sean “Diddy” Combs resigned as chairman of Revolt after facing several sexual assault accusations.
Today, the company announced that Diddy’s shares have been completely bought back and are no longer in circulation. Now, the biggest shareholders are the employees of Revolt.
Detavio Samuels, Revolt’s CEO, told The New York Times that he started working with Diddy on selling his shares back in January. He made it clear: “All of Sean Combs’s shares have been redeemed and retired. He is not our chairman anymore. He has zero involvement with us now.”
Diddy stepped down last year while being sued by Joi Dickerson-Neal and Liza Gardner. He had also just settled a lawsuit with Cassie Ventura. Since then, more lawsuits followed from Jane Doe, Rodney Jones Jr., Crystal McKinney, and April Lampros. Plus, Homeland Security Investigations searched his homes in LA and Miami over a federal sex trafficking probe.
I think it’s surprising how quickly things can change for someone famous.
Diddy’s representatives were contacted for comments about him selling his Revolt shares but haven’t responded yet.
