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Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →On June 4, 2024, Revolt said Sean “Diddy” Combs’s shares in the media company had been “fully redeemed and retired.” The company also announced that current employees would become its newly projected largest shareholder group through an equity participation structure. Revolt did not disclose how much Combs was paid, and the cited reporting does not identify a buyer.
What Revolt announced
Revolt’s June 4, 2024 announcement described Combs’s shares as “fully redeemed and retired,” rather than naming an outside purchaser. The company identified current employees as the newly projected largest shareholder group and said its equity participation structure would roll out over the following months. It did not state final ownership percentages or individual employee allocations.
Revolt’s CEO, Detavio Samuels, framed the change as a shift in employees’ relationship to the company: “Today, 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.” That is Samuels’s description of the company’s intended structure; the announcement did not provide details sufficient to establish how individual ownership or governance would work. Revolt’s announcement, June 4, 2024.
Did Diddy sell his stake, and who bought it?
Contemporaneous coverage commonly described the news as Combs selling his stake. Revolt’s own wording is more specific about the action it announced: his shares were redeemed and retired. The sources cited here do not name an outside buyer, so it would be inaccurate to state that a particular person or company acquired the shares.
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The Associated Press reported that Revolt did not disclose the price paid for Combs’s stake. These reports also do not establish a company valuation. The Associated Press, June 4, 2024.
What is known about Revolt and the timeline
The Associated Press identifies Revolt as a media company founded in 2013. Its programming centers on hip-hop culture, R&B music, social justice, and documentaries; AP’s 2024 report cited online shows including Black Girl Stuff and The Life of Draco.
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- 2013: Revolt was founded, according to AP.
- November 2023: Combs stepped back as chair, according to contemporaneous reporting summarized by AP; Revolt’s later announcement referred to him as its “former chair.”
- June 4, 2024: Revolt announced the redemption and retirement of his shares and its employee equity participation structure.
- 2025: AP later described Combs as having stepped down and fully divested from Revolt. The Associated Press, 2025.
What the announcement leaves unanswered
The June 2024 announcement and the cited AP reports do not establish the transaction price, Revolt’s valuation, employees’ final ownership percentage, individual allocations, detailed governance rights, or a named buyer. The employee equity plan was announced as a participation structure, with rollout expected over the following months; the announcement did not publish a completed cap table.
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