Who Owns the UFC? The Full Ownership Chain Explained

The UFC is owned by TKO Group Holdings, a publicly traded sports and entertainment company listed on the NYSE under the ticker TKO. TKO is majority-controlled by Endeavor Group Holdings, which went private in March 2025 after being acquired by private equity firm Silver Lake Partners.

So if you're asking who owns the UFC at the top of the chain — that's Silver Lake, through Endeavor, through TKO.

The Direct Answer: TKO Group Holdings Owns the UFC

What TKO Group Holdings Actually Is

TKO isn't just a UFC holding company. It was formed in September 2023 when Endeavor merged the UFC with World Wrestling Entertainment (WWE) into a single publicly traded entity. TKO now owns UFC, WWE, Professional Bull Riders (PBR), sports marketing agency IMG, and premium events company On Location.

UFC operates as a division inside TKO — not as a standalone public company. It has its own CEO (Dana White) and runs its own events, but major strategic decisions go through TKO's leadership structure.

Where UFC Sits Inside TKO

Think of TKO as the parent company and UFC as one of its main operating divisions. UFC is by far TKO's most valuable single property — it generated approximately $1.4 billion in revenue in 2024. But it doesn't exist or trade independently. You can't buy "UFC stock." What you can buy is TKO stock, which gives you indirect exposure to UFC alongside everything else TKO owns.

TKO's Public Trading Status

TKO Group Holdings trades on the New York Stock Exchange under the symbol TKO. It has been publicly listed since September 12, 2023. This means institutional investors, retail shareholders, and index funds all hold slices of TKO — and by extension, the UFC.

The company's market capitalization as of mid-2025 was approximately $36 billion across all its properties.

Who Controls TKO — and Therefore Who Owns the UFC

Endeavor Group Holdings — the Majority Stakeholder

Endeavor Group Holdings is the controlling shareholder of TKO. When TKO was first formed in September 2023, Endeavor held approximately 51% of TKO shares. That stake increased.

In February 2025, TKO completed an all-stock acquisition of additional Endeavor assets — including IMG, On Location, and PBR — which resulted in Endeavor receiving new TKO shares as consideration. After that transaction closed, Endeavor's stake in TKO rose to approximately 59–61%.

That majority position gives Endeavor effective control over TKO's strategic direction, board composition, and major corporate decisions.

How Endeavor's Stake Has Shifted

At TKO's formation: approximately 51%. After the February 2025 asset acquisition: approximately 59–61%.

These aren't small moves. A shift from 51% to 61% meaningfully concentrates control further. The remaining roughly 39–41% of TKO is held by public shareholders — institutional investors like Vanguard and BlackRock, former WWE stakeholders, and retail investors.

Silver Lake Partners — Who Owns Endeavor

Here's where the chain gets one level deeper, and where most articles stop short.

Endeavor itself is no longer a public company. In March 2025, Silver Lake Partners — a large private equity firm focused on technology and media investments — completed a take-private acquisition of Endeavor, paying $27.50 per share in cash.

The transaction valued Endeavor at approximately $13 billion in equity value, with a combined enterprise value of around $25 billion when TKO's holdings are included.

Silver Lake now wholly owns Endeavor. Endeavor controls TKO. TKO owns UFC.

Importantly, TKO itself was not taken private. It continues to trade publicly on the NYSE. Silver Lake's control over UFC is indirect — exercised through Endeavor's majority stake in TKO, not through direct ownership of UFC.

The Full Ownership Chain in Plain English

Silver Lake (private equity, privately held) → owns Endeavor Group Holdings (now private) → controls ~59–61% of TKO Group Holdings (NYSE: TKO, publicly traded) → owns and operates UFC as a division.

That's the complete chain. Four layers. Most people asking who owns the UFC expect a simpler answer — and the honest response is that it's genuinely layered, reflecting how large sports properties tend to be structured in modern private equity-backed deals.

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Key Individuals in UFC Ownership and Leadership

Ari Emanuel — TKO CEO

Ari Emanuel is CEO of both TKO Group Holdings and the now-private Endeavor. He's the most senior executive overseeing UFC's corporate parent. Emanuel co-founded the talent agency WME (William Morris Endeavor), which grew through acquisitions into the broader Endeavor entity that eventually bought UFC in 2016.

His role at TKO gives him oversight across UFC, WWE, and all other TKO properties.

Dana White — UFC CEO and His Equity Stake

Dana White has been the public face of the UFC since 2001, serving first as president and elevated to CEO in 2023 following the TKO merger. He runs UFC's day-to-day operations — event production, fighter contracts, matchmaking, and public communications.

His equity position is more complicated to state precisely. At the time of the 2016 sale of UFC to Endeavor, White held approximately 9% of the organization. That figure is widely cited. What's less clear is his exact stake post the 2023 TKO merger, which converted UFC ownership into TKO equity.

His current TKO shareholding has not been publicly confirmed at a specific percentage. One source suggests it may be in a low single-digit range of TKO shares, but this has not been officially disclosed at the time of writing. The 9% figure from 2016 should not be assumed to represent his current position.

Mark Shapiro — TKO President

Mark Shapiro serves as President and COO of TKO and simultaneously holds the same titles at Endeavor (now WME Group). In practical terms, Shapiro is the operational bridge between Endeavor's ownership and TKO's divisions. UFC's leadership — including Dana White — reports up through this structure.

Vince McMahon — Reduced and Departed

When TKO formed in September 2023, Vince McMahon held approximately one-third of the Class A common stock, making him a significant early shareholder. He served briefly as executive chairman before resigning in January 2024 amid serious legal allegations.

McMahon has since sold a substantial portion of his TKO shares — in June 2025 he sold approximately 1.58 million shares to Endeavor for $250 million, reducing his stake to roughly 3% of TKO.

How UFC Got to This Ownership Structure

Founded 1993 — SEG Ownership

The UFC was created in 1993 by Art Davie and Rorion Gracie, with backing from Semaphore Entertainment Group (SEG). The early UFC operated as a no-rules tournament to determine the most effective martial art. It drew controversy, political pressure, and cable bans. By the late 1990s, SEG was financially struggling.

The Fertitta Brothers and Zuffa LLC (2001–2016)

In 2001, brothers Frank and Lorenzo Fertitta purchased the UFC through their company Zuffa LLC for approximately $2 million. Dana White came in as president. Over the next 15 years, they rebuilt the UFC into a regulated, mainstream sport — adding weight classes, signing with major networks, and expanding internationally. The transformation was dramatic.

The $4.025 Billion Sale to Endeavor (2016)

In 2016, Zuffa sold the UFC to a group led by talent agency WME-IMG (later rebranded Endeavor), along with investment partners Silver Lake Partners, KKR, and MSD Capital, for $4.025 billion.

The Fertitta brothers retained a minority stake. Dana White kept equity and stayed on as president. The Abu Dhabi government also held approximately 10% at that point — the status of that stake through subsequent restructurings has not been publicly detailed in recent filings.

The UFC–WWE Merger Forming TKO (2023)

In April 2023, Endeavor and WWE announced a merger agreement. The deal closed September 12, 2023, creating TKO Group Holdings. UFC and WWE became co-equal divisions under TKO's umbrella. Endeavor held 51% at formation; WWE's legacy shareholders held 49%. This was the first time WWE had not been primarily controlled by the McMahon family since its founding.

Endeavor Goes Private via Silver Lake (March 2025)

Silver Lake, which had been an investor in Endeavor since 2012, completed a full take-private acquisition of Endeavor in March 2025. TKO remained publicly listed. The practical effect is that UFC's majority owner is now a private company not subject to public market disclosure requirements — though TKO itself still files publicly as a listed company.

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What the Current Structure Means in Practice

Who Makes Decisions for UFC Day to Day

Dana White runs UFC's operations. Fighter signings, event scheduling, pay structures, and promotional decisions flow through his office. Above him sits TKO's leadership — Ari Emanuel and Mark Shapiro — who oversee broader corporate strategy, media rights negotiations, and financial decisions that affect all TKO properties.

Silver Lake, at the top of the chain, is a financial owner — not an operator. Private equity firms of this type typically influence strategy through board seats and capital allocation decisions rather than direct operational involvement.

What Endeavor Going Private Means for UFC Governance

The practical effect is reduced public transparency at the Endeavor level. As a private company, Endeavor no longer files public earnings reports or proxy statements. TKO still does — so UFC's financial performance remains visible through TKO's SEC filings.

But Endeavor's internal decisions, compensation, and strategic deliberations are now shielded from public disclosure. For UFC fans, this changes very little. For analysts and journalists tracking the ownership structure, it makes the upper levels of the chain less transparent.

The $7.7 Billion Paramount Deal — What Changes for Fans

In August 2025, TKO announced a 7-year, $7.7 billion media rights deal with Paramount Skydance, beginning in 2026. All 43 annual UFC live events — 13 numbered events and 30 Fight Nights — will move to Paramount+ with select numbered events simulcast on CBS.

The pay-per-view model that UFC used under ESPN ends. Fans who subscribe to Paramount+ will get all UFC events included without additional fees.

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Conclusion

The UFC is owned by TKO Group Holdings, which is majority-controlled by Endeavor — now a private company owned by Silver Lake Partners. Dana White runs UFC operations as CEO. The ownership chain is four layers deep, and the structure shifted meaningfully in early 2025 when Endeavor went private and its TKO stake grew to approximately 59–61%.

Frequently Asked Questions

Does Dana White own the UFC?

Dana White does not own the UFC outright. He holds an equity stake in TKO Group Holdings — the parent company — but the exact current percentage has not been publicly confirmed. He serves as UFC's CEO and oversees all operations.

Is the UFC publicly traded?

UFC itself is not publicly traded. It operates as a division of TKO Group Holdings, which trades on the NYSE under the ticker TKO. Buying TKO stock gives indirect exposure to UFC alongside WWE, PBR, and other TKO properties.

Who founded the UFC?

The UFC was founded in 1993 by Art Davie and Rorion Gracie, with backing from Semaphore Entertainment Group. The first event was held in Denver, Colorado in November 1993.

How much is the UFC worth?

UFC is not valued independently as a standalone entity in current filings. TKO Group Holdings — which includes UFC, WWE, and other properties — had a market capitalization of approximately $36 billion as of mid-2025. UFC alone was valued at approximately $12 billion in the 2023 merger.

What is TKO Group Holdings?

TKO Group Holdings is the publicly traded parent company that owns UFC, WWE, PBR, IMG, and On Location. It was formed in September 2023 through the merger of UFC and WWE under Endeavor's ownership. It trades on the NYSE under the symbol TKO.