Diddy's Empire Keeps Crumbling

Embattled hip-hop mogul loses reality show, sells off shares in Revolt
By Arden Dier,  Newser Staff
Posted Jun 5, 2024 9:14 AM CDT
Diddy's Empire Keeps Crumbling
Sean "Diddy" Combs arrives at the LA Premiere of "The Four: Battle For Stardom" at the CBS Radford Studio Center, May 30, 2018, in Los Angeles.   (Photo by Willy Sanjuan/Invision/AP, File)

Sean Combs' business empire is continuing to shrink. Amid a wave of accusations, the hip-hop mogul known as Diddy agreed to separate from Revolt, the media company he founded more than a decade ago to focus on Black representation, the New York Times reports. "One-hundred percent of Sean Combs' shares have been redeemed and retired," Revolt CEO Detavio Samuels tells the outlet. "He is no longer chairman. He is no longer on the board. He has no shares, no equity in Revolt. We have completely separated and dissociated from each other." Combs held a majority stake in the company. The largest shareholder group is now made up of employees, Samuels says, adding the company will remain Black-owned and operated.

Combs stepped down as Revolt's chairman in November, shortly after his ex-girlfriend Casandra "Cassie" Ventura filed a lawsuit accusing him of physical and sexual abuse. Revolt, which "had long embraced Mr. Combs as the face of its brand," sought to distance itself from him as more accusations poured in, per the Times. Capital Prep Harlem, a charter school opened by Combs, also announced it was parting ways with the rapper, per the Cut. Combs' business empire has suffered in other ways. He sold his half of the tequila brand DeLeón for about $200 million in January after complaints about his tarnished reputation, per the Times. According to NBC News, Hulu also scrapped a reality TV show following Combs' family. (More Sean Combs stories.)

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