Embattled Bad Boy mogul Diddy is officially no longer affiliated with REVOLT amid an anonymous buyer agreeing to take the reigns. Social media is now speculating about who possibly could’ve taken over.
Source: Phillip Faraone / Getty
TMZ reports that Diddy is no longer associated with the company he started in 2013 after selling all of his shares to an interested buyer for an undisclosed sum.
Citing a source, the outlet adds that the brand centered around Black culture remains Black-owned and the new owner, who shares a “deep passion” for Black culture, plans to come forward “in the coming weeks.”
The source adds that the new owner will be working with REVOLT’s current CEO Detavio Samuels and Chief Brand Officer Deon Graham who will remain in their current positions and staff can breathe easy as there will be “no major changes” to staffing or production for REVOLT TV employees.
On X, formerly known as Twitter, people are already speculating who the new REVOLT chairman could be and they’re dropping names. As you can imagine, people are speculating that (Diddy’s petty enemy) 50 Cent bought REVOLT, while some think Jay Z is taking over.
His departure comes after Homeland Security stormed his homes in Los Angeles and Miami on Monday amid an ongoing federal sex trafficking investigation, but TMZ says the two are unrelated.
Instead, the company’s sale was reportedly put in place “well before” the raids on Monday, March 25.
Diddy Temporarily Stepped Down As REVOLT Chairman Last Year
The news of Diddy’s departure comes amid him temporarily stepping down from his role as Chairman in November.
Source: Aaron Davidson / Getty
At the time sources told TMZ that his goal in making the decision was to not allow the accusations that he’s facing to “distract from REVOLT’s success.”
“Sean Combs has stepped down from his position as Chairman of REVOLT,” read an official statement from REVOLT.
“While Mr. Combs has previously had no operational or day-to-day role in the business, this decision helps to ensure that REVOLT remains steadfastly focused on our mission to create meaningful content for the culture and amplify the voices of all Black people throughout this country and the African diaspora.”
It continued,
“Our focus has always been one that reflects our commitment to the collective journey of REVOLT — one that is not driven by any individual, but by the shared efforts and values of our entire team on behalf of advancing, elevating and championing our culture – and that continues.”
Who do you think REVOLT’s anonymous buyer is?
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