Amid a series of sexual and physical assault allegations, Sean ‘Diddy’ Combs has sold his majority stake in Revolt, a television and media company that he founded back in 2013. Combs also stepped down as chairman. Employees of Revolt will now become the largest shareholder group of the Black-owned company, with all of Combs’ shares now fully redeemed and retired. “This is something that we’ve been looking to do, waiting to do, believing that the people who give this company their blood, sweat and tears should have some sort of upside opportunity if and when we win,” Revolt chief executive Detavio Samuels said. While Monique Chenault, president of Revolt Studios, added, “We seek out and embrace the genius of the underdog…the voices that have been traditionally silenced. For the first time, this group gets a chance at that kind of equity.” (Variety)
