REVOLT, a leading Black-owned multi-platform media company, has announced a historic shift in its ownership structure. In a move that aligns with their mission of empowering Black voices, REVOLT’s current employees are poised to become the company’s biggest shareholders.
This announcement, made on June 4, 2024, marks a significant moment for both the company and the media industry. While REVOLT will remain Black-owned and operated, ownership will transition to the employees who fuel the company’s success.
A New Era of Employee Ownership
This new ownership structure ensures that the very people driving REVOLT’s growth – its dedicated staff – will have a direct stake in the company’s success. The details of equity allocation are still being finalized, but a rollout plan is expected in the coming months.
This decision not only empowers employees but also sets a new standard for media companies. REVOLT is creating a model where traditionally underrepresented communities have a chance to build wealth through ownership.
REVOLT CEO Detavio Samuels expressed his enthusiasm for this transformative move: “We are stepping into the most revolutionary chapter yet for REVOLT… Our mission is bigger than any individual, and we are the largest engine for transformative change that just so happens to be a media company.”
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Samuels highlighted REVOLT’s ongoing commitment to empowering creators, entrepreneurs, and the Black community as a whole. He pointed to their annual $50 million reinvestment in the Black community and their dedication to ensuring creators benefit from the content they co-create.
Building on a Strong Foundation
This shift in ownership comes alongside the departure of former chairman Sean “Diddy” Combs. Combs’ shares have been redeemed and retired by the company.
Looking forward, Samuels emphasizes the importance of REVOLT’s team: “We succeed because we have a dedicated team who has been committed to advancing our purpose, our community, and our culture every single day. Without question, they deserve participation in our growth – and I could not be more honored to continue on this journey with them, leveraging our collective strength, pushing boundaries, and achieving new heights together.”
With this new structure, REVOLT aims to set a precedent in the media industry, demonstrating how employee ownership can drive both business success and community empowerment. The company’s commitment to Black ownership and creating opportunities for wealth-building within the community remains as strong as ever.
