Unraveling the Ownership of FaZe Clan: A Comprehensive Guide
Who are the main owners of FaZe? The ownership of FaZe Clan is now somewhat complex due to recent acquisitions and restructuring. Currently, GameSquare (GAME.V) is the primary owner, having acquired FaZe Holdings in an all-stock deal. While FaZe Clan operates as a wholly-owned subsidiary and independent division under GameSquare, it’s essential to understand that ownership doesn’t translate to operational control, which resides with the reinstated founding members including Richard “FaZe Banks” Bengtson as CEO, Thomas “FaZe Temperrr” Oliveira as President, and Yousef “FaZe Apex” Abdelfattah as COO. Previously, FaZe Holdings was a publicly traded company, and as such, had numerous shareholders. Some of the most significant investors who held stakes in FaZe before the GameSquare acquisition included: B. Riley Financial, Inc., JW Asset Management, LLC, Bellecapital International Ltd., Boothbay Fund Management, Llc, Vanguard Group Inc, Geode Capital Management, Llc, VEXMX – Vanguard Extended Market Index Fund Investor Shares, BlackRock Inc., Caz Investments Lp, and Northern Trust Corp. However, their ownership positions have been replaced by shares in GameSquare upon the completion of the acquisition.
The Evolution of FaZe Ownership
From Indie Start to Public Entity
FaZe Clan’s journey began as a group of content creators and gamers, initially self-owned and operated. As their popularity surged, they transitioned into a formal organization, ultimately going public as FaZe Holdings (FAZE.O) in 2022. This move brought a wide array of investors into the fold, including institutions and individual shareholders. However, financial struggles led to significant losses, impacting their share price and necessitating the merger with GameSquare.
The GameSquare Acquisition
The acquisition of FaZe Holdings by GameSquare marked a pivotal shift in ownership. GameSquare, a company specializing in esports and gaming solutions, absorbed FaZe, making it a subsidiary rather than an independent public entity. This is a significant shift away from the public ownership structure, consolidating much of the control within GameSquare.
The Role of the Founding Members
While GameSquare holds the majority ownership, the original founders of FaZe Clan have returned to leadership roles within the subsidiary. Richard “FaZe Banks” Bengtson as CEO, Thomas “FaZe Temperrr” Oliveira as President, and Yousef “FaZe Apex” Abdelfattah as COO, have significant control over the day-to-day operations and direction of the FaZe brand. This is crucial for the brand’s identity and strategic focus moving forward.
The Current Landscape
It’s important to clarify that despite being under the GameSquare umbrella, FaZe Clan retains its brand identity and operational autonomy to a certain degree, under the direction of its founding leadership. The ownership structure is therefore dual-layered, with GameSquare holding the overarching ownership and financial direction, and the founding team leading the creative and operational aspects of the business.
Frequently Asked Questions (FAQs)
1. Is FaZe Banks the overall owner of FaZe?
No, while Richard “FaZe Banks” Bengtson is the CEO of FaZe Clan, he is not the overall owner of the company. GameSquare owns FaZe Clan as a wholly-owned subsidiary. Banks and his co-founders have significant operational control but not majority ownership.
2. Who was the previous CEO of FaZe Clan before FaZe Banks?
Before FaZe Banks, the CEO of FaZe Clan was Trink, who was terminated in September 2023. An interim CEO Christoph Pachler, then CFO, was appointed before Banks assumed the role.
3. What is the current value of FaZe Clan?
As of November 10, 2023, FaZe Holdings had a market cap of $13.74 million. This is a significant drop from its peak valuation, reflecting the financial challenges it experienced.
4. How much did GameSquare buy FaZe for?
The transaction between GameSquare and FaZe was characterized as a merger rather than a straight purchase. FaZe was valued at approximately $16 million, in contrast to its previous valuation of $725 million when it went public.
5. What does the acquisition mean for FaZe Clan members?
For the most part, the daily operations and content creation of FaZe Clan members remain unchanged. The core changes are in the corporate ownership and leadership structure. The founding members are now back in leadership roles within the subsidiary.
6. Who are some of the notable female members of FaZe Clan?
FaZe Clan has several female members in their Valorant roster, including Jennifer “refinnej” Le, Emma “emy” Choe, Vanessa Emely “panini” Emory, Madison “maddiesuun” Mann, and Diane “di^” Tran.
7. What was the Clout House, and is it still in use by FaZe members?
The Clout House was a property occupied by a group of social media stars organized by FaZe Banks, primarily for content creation. FaZe members moved out of the Clout House and it is now reportedly occupied by other social media personalities.
8. How does FaZe Clan make money?
FaZe Clan’s revenue streams include brand sponsorships, content revenue, and esports revenue. Brand sponsorships remain the largest revenue generator.
9. Is Atlanta FaZe owned by the same company as the FaZe Clan organization?
No, Atlanta FaZe is owned and operated by Atlanta Esports Ventures, not the same corporate entity. It is simply a Call of Duty League franchise that is affiliated with the FaZe brand.
10. Who was the first black member of FaZe?
FaZe Swagg is notable for being the first Black member of FaZe Clan.
11. How many members are in FaZe Clan?
FaZe Clan comprises 93 members, consisting of esports competitors, content creators, and some celebrities.
12. Is Mr. Beast part of FaZe Clan?
No, Mr. Beast is not part of FaZe Clan. He is a highly successful YouTuber with his own separate brand and company.
13. How is FaZe Clan doing financially now?
FaZe Clan has faced considerable financial challenges, including significant losses. Its current market cap is considerably lower than its peak valuation, but the acquisition by GameSquare is meant to stabilize its financial position.
14. Who is FaZe Jarvis?
FaZe Jarvis is a content creator and younger brother of FaZe Kay and Chandler, known for his gaming content.
15. Where is FaZe Clan headquartered?
FaZe Clan is headquartered in Los Angeles, California, United States.
By understanding these details, one gains a clearer picture of the complex ownership structure and ongoing evolution of FaZe Clan. While GameSquare owns the company as a subsidiary, the vision and direction are being driven by the reinstated founding members, ensuring the FaZe brand remains distinct and dynamic.