UFC Owners: Who Controls the UFC and How the Structure Works

The UFC owners, at the top of the structure, are TKO Group Holdings a publicly traded company and its majority controller, Endeavor Group Holdings. Dana White, the UFC's longtime public face, also holds a personal ownership stake of roughly 9%. If that sounds like a lot of layers, it is. Here's how it actually fits together.

Who the UFC Owners Are Today

Most people expect a single name or company here. The reality is a three-layer structure that trips up even sports business reporters when they write about it casually.

TKO Group Holdings: The Direct Owner

TKO Group Holdings is the company that directly owns and operates the UFC. It was formed in September 2023 when the UFC and WWE merged under one corporate parent. TKO is listed on the New York Stock Exchange under the ticker symbol TKO meaning it's a public company, not a private one.

That detail matters more than people realize. It changes who can own a piece of the UFC, and how ownership is tracked and reported.

Endeavor Group Holdings: Who Actually Controls It

Endeavor Group Holdings owns approximately 59% of TKO as of early 2025. That majority position gives Endeavor effective control over TKO's strategic decisions including anything that affects the UFC.

Endeavor is a Beverly Hills-based talent and entertainment company. Its CEO, Ari Emanuel, also serves as CEO of TKO Group Holdings. He operates at the board and corporate level. He's not involved in booking fights or managing fighters that's a different conversation.

At first glance it seems like Endeavor simply "owns the UFC." Technically, it owns the company that owns the UFC. That distinction is worth keeping straight.

Dana White: CEO and Minority Owner

Dana White owns approximately 9% of the UFC. He was given that stake in 2001 when the Fertitta brothers brought him in as president and he's held onto it through every ownership change since, including the $4 billion Endeavor deal in 2016 and the TKO merger in 2023.

He also serves as CEO of the UFC, a title he received at the time of the TKO formation. So his position combines operational authority with genuine financial skin in the game. That's a fairly unusual arrangement for someone who isn't the majority owner.

Minority and Public Shareholders

When Endeavor first acquired the UFC in 2016, it brought in co-investors: Silver Lake Partners, Kohlberg Kravis Roberts (KKR), and MSD Capital. The Abu Dhabi-linked Flash Entertainment had also held a 10% minority stake in Zuffa since 2009.

Endeavor progressively bought out many of those positions most significantly in 2021. Today, the roughly 41% of TKO not held by Endeavor is distributed among public market shareholders. Anyone who buys TKO stock on the NYSE technically owns a fractional piece of the UFC.

Also Read: Who Owns Hulu

How the UFC Ownership Chain Works Step by Step

This is where most articles get vague or quietly skip the detail. Here it is plainly:

Endeavor Group Holdings → majority owner of → TKO Group Holdings → direct owner of → UFC

Endeavor doesn't own the UFC outright. It owns TKO, and TKO owns the UFC. Two steps, not one. The reason this matters is that TKO also owns WWE so Endeavor is running a dual-brand sports entertainment company, not just a UFC holding structure.

What TKO Being a Public Company Actually Means

Because TKO trades on the NYSE, its financial performance is publicly disclosed on a regular basis. Revenue figures, operating income, ownership changes these aren't guesses or leaks. They're SEC filings.

It also means that any investor can buy TKO shares and gain indirect financial exposure to the UFC. That's meaningfully different from the Zuffa era, when the UFC was entirely privately owned and its finances were largely opaque.

What it doesn't mean is that public shareholders have any say in how the UFC operates. Endeavor's 59% stake is a controlling majority. The UFC's direction events, fighter contracts, broadcast deals runs through Dana White and the TKO board, not through public shareholder votes.

Operational Control vs. Corporate Ownership

These are two separate things worth separating clearly.

Corporate ownership sits with Endeavor and TKO's board, led by Ari Emanuel and TKO president Mark Shapiro. They make decisions at the strategic level mergers, major contracts, capital allocation.

Day-to-day operational control belongs to Dana White. Fighter matchmaking, event production, media appearances, brand tone White runs all of that. He's held that operational authority since 2001 and has maintained it across three ownership regimes.

Also Read: Who Owns Netflix

How UFC Ownership Changed Over Time

WOW Promotions and Semaphore Entertainment Group (1993–2001)

The UFC was founded in 1993 by Art Davie and Rorion Gracie through a venture called WOW Promotions. Semaphore Entertainment Group (SEG) backed the promotion and eventually took full ownership after UFC 5 in 1995.

The early UFC was raw, controversial, and financially troubled. State athletic commissions banned events across the country. By 2001, SEG was looking to sell a struggling, reputation-damaged asset.

The Fertitta Brothers and Zuffa LLC (2001–2016)

Frank and Lorenzo Fertitta Las Vegas casino executives purchased the UFC from SEG in January 2001 for $2 million. They formed Zuffa LLC to manage it and installed Dana White as president, giving him a 9% stake.

The turnaround wasn't immediate. The Fertittas spent more than $40 million before the UFC reached profitability. The inflection point came in 2005 with the launch of The Ultimate Fighter reality series, which introduced the UFC to a broad television audience and changed the organization's commercial trajectory entirely.

By 2016, Zuffa had built the UFC into a global operation with major broadcast deals, international events, and hundreds of contracted athletes. The $2 million purchase had become a $4 billion asset.

The Endeavor Acquisition (2016)

In July 2016, Zuffa sold the UFC to a consortium led by WME-IMG  later renamed Endeavor for $4.025 billion. At the time, this was widely reported as the largest acquisition in sports history.

Dana White retained his 9% stake and stayed on as president. The Fertitta brothers exited with significant returns. Silver Lake Partners, KKR, and MSD Capital joined as co-investors alongside Endeavor.

Interestingly, Endeavor CEO Ari Emanuel had already built a working relationship with the Fertittas before the deal reportedly a factor in why they chose Endeavor over a competing $5 billion bid from an undisclosed buyer.

Formation of TKO Group Holdings (2023)

In April 2023, Endeavor announced the UFC and WWE would merge to form a new publicly traded company. The transaction closed in September 2023. TKO Group Holdings began trading on the NYSE.

The UFC's enterprise value in the merger was placed at approximately $12.1 billion. WWE's was approximately $9.3 billion. Combined, the entity was valued at roughly $21 billion at announcement though public market valuations shift over time and those figures reflect a specific moment.

Dana White was elevated from president to CEO of the UFC at this point. Ari Emanuel became TKO's CEO. WWE's Nick Khan remained as WWE's CEO.

Endeavor Increases TKO Stake to 59% (2025)

Following the TKO formation, Silver Lake Partners Endeavor's largest institutional shareholder pursued a broader consolidation of Endeavor's assets. The process completed in February 2025, with Endeavor's TKO stake reaching approximately 59%.This effectively tightened Endeavor's grip on both the UFC and WWE under a single majority-controlled structure.

UFC Financial Snapshot Under Current Ownership

These figures come from public TKO disclosures and should be treated as reference points, not live market data.

UFC Standalone Valuation

The UFC's enterprise value at the time of the TKO merger was approximately $12.1 billion — the figure used to structure the deal between the UFC and WWE sides.

Revenue and Operating Income

In 2023, the UFC reported revenue of approximately $1.3 billion with an operating income of around $142.9 million. For context, UFC revenue stood at roughly $609 million in 2015. The growth under Endeavor's ownership reflects expanded broadcast deals, international events, and increased pay-per-view volume.

Also Read: Who Owns Alani Nu

Conclusion

The UFC owners are, in order: TKO Group Holdings owns it directly, Endeavor Group Holdings controls TKO with a 59% stake, and Dana White holds a personal 9% share. TKO is publicly traded meaning partial ownership is open to any investor, though Endeavor firmly holds decision-making control.

Frequently Asked Questions About UFC Owners

Does Dana White actually own part of the UFC?

Yes. Dana White owns approximately 9% of the UFC. He received that stake in 2001 when the Fertitta brothers appointed him president of Zuffa. He retained it through the 2016 Endeavor sale and the 2023 TKO merger.

Are the UFC owners the same as WWE owners?

Effectively, yes. Both UFC and WWE are owned by TKO Group Holdings, which is majority-controlled by Endeavor. They operate separately with their own CEOs but share the same corporate parent and board oversight.

What happened to Frank and Lorenzo Fertitta?

The Fertitta brothers sold their majority stake in Zuffa to Endeavor in 2016 for $4.025 billion. They no longer hold any reported ownership interest in the UFC, TKO Group Holdings, or Endeavor.

Can a regular investor own part of the UFC?

Indirectly, yes. TKO Group Holdings trades publicly on the NYSE under the ticker TKO. Buying TKO shares provides financial exposure to UFC performance  but no operational influence, given Endeavor's controlling majority.

Who is Ari Emanuel's role with the UFC?

Ari Emanuel is CEO of both Endeavor Group Holdings and TKO Group Holdings. He oversees the UFC at the corporate level. Day-to-day UFC operations remain under Dana White, who functions independently as UFC's CEO.