In a significant shift for Revolt Media, the company has unveiled a new ownership model following the resignation of its founder, Sean Diddy Combs.
With Combs stepping down as chairman, all shares associated with him have been fully redeemed and retired, paving the way for the current employees to emerge as the largest group of shareholders.
This move signals a promising change in the dynamics of the company, emphasizing the importance of its workforce.
In a candid conversation with Variety, Revolt’s leadership expressed their long-standing desire to empower those who contribute tirelessly to the company.
Samuel, a key figure in the organization, articulated the belief that employees who invest their energy and passion should have a stake in the success of the company.
He stated, “This is something that we’ve been looking to do, waiting to do.”
The data backs this up; companies that provide incentive pools for their staff tend to outperform their competitors in various aspects, including financial success and workplace culture.
Revolt is committed to keeping its employees informed throughout this transition, promising a comprehensive explanation of the new ownership structure.
The allocation of employee participation will be rolled out over the upcoming months, ensuring that everyone understands their role in this new chapter.
This initiative comes on the heels of interest from affluent investors, such as Essence Ventures CEO Richelieu Dennis, who had been eyeing Combs’ share in the company.
One of the standout features of this new ownership model is its commitment to diversity.
Under the revised structure, Revolt will continue to be predominantly owned by Black individuals, with around 80% of its workforce identifying as people of color.
Samuel emphasized the company’s dedication to maintaining its focus on Black ownership, stating, “There’s no construction that we would have acknowledged that was not dark-claimed.”
Monique Chennault, who leads Revolt Studios, echoed this sentiment, highlighting the company’s mission to amplify underrepresented voices.
“We search out and embrace the virtuoso of the dark horse, the voices that have been generally quieted,” she remarked, noting that this ownership change offers unprecedented opportunities for equity within the company.
While the leadership at Revolt has made strides to distance the brand from Combs, questions linger regarding how the allegations against him have impacted employees.
Samuel, however, sidestepped inquiries about the fallout from these serious claims, affirming that the brand is moving forward with a fresh perspective.
Looking ahead, Revolt plans to enhance its programming by focusing on women-led and women-centered shows, alongside a renewed emphasis on Revolt Sports.
This strategic pivot comes after Combs’ departure, which followed a series of troubling allegations from his former girlfriend, Cassandra Ventura, known professionally as Cassie.
Cassie accused Combs of years of abuse, including rape, during their decade-long relationship.
Although Combs has denied these allegations, the situation escalated when leaked surveillance footage appeared to show him assaulting her in a hotel.
In response to the backlash, Combs issued an apology, taking “total ownership” for his actions captured in the video.
The past few months have been tumultuous for Combs, as he faced multiple legal challenges and accusations of sual misconduct.
Before Cassie’s allegations surfaced, he had already divested his stake in the music publishing rights of several artists under his Bad Boy label, claiming it was a charitable act.
Critics, however, suggested that this move was merely performative, especially as it coincided with the mounting allegations against him.
As Revolt transitioned to employee ownership, the company released a statement underscoring its commitment to its mission.
They noted that while Combs had distanced himself from day-to-day operations, this decision reinforces their focus on creating impactful content that elevates the voices of people of color across the United States and the African diaspora.