Renowned U.S. rapper and billionaire businessman Sean “Diddy” Combs has finalized the sale of his remaining shares in Revolt TV, an American music-oriented digital cable television network, to an undisclosed buyer amid ongoing federal investigations and a flurry of sexual abuse allegations against him.
After stepping down as Revolt TV’s chairman in November 2023 in the wake of multiple sexual abuse claims, Diddy has now divested his remaining ownership stake in the media company. Despite the change in ownership, Revolt TV’s current CEO, Detavio Samuels, and chief brand officer, Deon Graham, will continue in their respective roles for the foreseeable future.
The financial details of the transaction remain undisclosed, with reports indicating that the anonymous buyer intends to maintain their anonymity for several weeks before being formally introduced as the head of Revolt TV.
Renowned rapper’s sale of shares comes amid federal raids and ongoing sexual abuse allegations
The announcement of the sale follows federal raids on Diddy’s properties in Miami and Los Angeles earlier this week. The raids, conducted by Homeland Security, are reportedly linked to an ongoing federal sex trafficking investigation.
While video footage from the Los Angeles raid appeared to show individuals being detained, including Combs’ sons King Combs and Justin Combs, it remains unclear whether Diddy himself was present during the raids.
Sean “Diddy” Combs faces legal storm as lawsuits mount
Sean “Diddy” Combs, a prominent figure in the music who ranks as one of America’s wealthiest Black individuals, is weathering a legal storm of sexual misconduct allegations. Multiple lawsuits, including a $30 million federal suit filed by his former partner Cassie, allege rape, sex trafficking, and mistreatment. Diddy has denied all charges.
These accusations culminated in his resignation as chairman of Revolt TV in November 2023. The recent sale of his remaining shares in the network underscores the challenges the influential rapper faces.
