Sean "Diddy" Combs, the legendary hip-hop mogul, has officially sold his majority stake in the media titan Revolt, which he founded. This bombshell news came from Detavio Samuels, Revolt’s CEO, who revealed that Diddy is now entirely cut off from the company.

In an exclusive interview with The New York Times on Tuesday, June 4, Samuels explained that Diddy, 54, began the separation process back in January after a spate of lawsuits were filed against him. "One hundred percent of Sean Combs’ shares have been redeemed and retired," Samuels disclosed. "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."

For context, Combs' affiliation with Revolt began in 2013 when he co-founded the network with Andy Schuon. Fast forward to November 2023, Combs stepped down temporarily amid growing controversies, focusing on addressing serious accusations. His exit wasn't merely a headline; it was marked by a series of impactful lawsuits. Combs has faced eight civil lawsuits, six of which allege severe charges like sexual assault, harassment, and even sex trafficking. The allegations range from drugging individuals against their will to long-term abuse claims by his ex-girlfriend Cassie, who triggered the legal tsunami with her lawsuit in late 2023.

In a telling statement, Revolt confirmed the new ownership dynamic. "Shares held by the company’s former chair, Sean 'Diddy' Combs, have been fully redeemed and retired," it declared. Notably, Revolt emphasized that the company remains Black-owned and operated, asserting, "This transformative structure ensures that the employees who are driving the company’s growth also have the opportunity to benefit from its success."

As of now, Revolt’s employees are its largest shareholders, cementing a new era for the media pioneer. While the exact amount Diddy sold his stake for remains undisclosed, what’s clear is that Revolt is pushing forward with a mission to amplify Black voices.

Diddy, the brains behind Bad Boy Entertainment, now finds himself battling legal woes in addition to a seismic career shift. On Dec. 6, he publicly denied all allegations against him through his lawyer, calling them "offensive and outrageous."

Revolt's mission, as reiterated in their statement, is to maintain its dedication to producing content that champions Black culture. This move to employee ownership marks a radical but reminiscent commitment to shared values over individual influence.

With the entertainment world watching closely, it's anyone's guess how Revolt will navigate its future without its flashy founder, but one thing’s for sure: this iconic media company isn't slowing down.