Who Owns DraftKings? The Surprising 2026 Ownership & Control Guide

Who Owns DraftKings? The 2026 Definitive Answer

DraftKings (NASDAQ: DKNG) is a publicly traded company, meaning it is owned by thousands of individual and institutional shareholders. As of January 2026, there is no single majority owner. Instead, ownership is led by large financial institutions like The Vanguard Group (8.7%) and BlackRock (5.4%).

However, while institutions own the most stock, co-founder and CEO Jason Robins retains effective control of the company through a dual-class share structure that grants him approximately 90% of the voting power.

The Corporate Breakdown: Who Truly Holds the Reins?

To understand who owns DraftKings, you have to look at the difference between economic ownership (who gets the profits) and voting control (who makes the decisions).

In the high-stakes world of sports betting, DraftKings operates as an independent entity based in Boston, Massachusetts. Since its reverse merger in April 2020, it has moved away from private venture capital toward a diversified public structure.

1. Institutional Investors (82.1%)

Wall Street is the primary "owner" of DraftKings. These are the mutual funds and pension funds that buy millions of shares to include in your 401(k) or index funds. In 2026, the institutional presence is stronger than ever:

• The Vanguard Group: Currently the largest shareholder, holding roughly 43.4 million shares.

• BlackRock, Inc.: The second largest, with about 27 million shares.

• FMR LLC (Fidelity): Holding a significant 23.8 million shares.

2. The General Public (12.7%)

If you own even one share of DKNG on a platform like Robinhood or Schwab, you are a part-owner of DraftKings. This "retail" slice is vital to the company's liquidity. Interestingly, DraftKings has one of the highest retail ownership percentages in the gaming sector, fueled by its massive brand recognition among sports fans.

3. Company Insiders (2.6% – 10%)

This group includes the people who actually run the business. While their percentage of total shares has been diluted over time due to various funding rounds and the public offering, their influence has never been higher.

The Founders and the "Control" Nuance

One of the most common mistakes people make when asking who owns DraftKings is looking only at the "Class A" common stock.

The Voting Power Secret

DraftKings uses a dual-class share system.

• Class A Shares: These are what you buy on the Nasdaq. One share equals one vote.

• Class B Shares: These are held by the founders, specifically Jason Robins. These shares carry significantly more voting weight per share.

Because of this, Jason Robins can own just 1% of the total company stock but still command 90% of the voting power. This structure was designed to ensure that the original visionaries could protect the company from "hostile takeovers" or short-term pressure from Wall Street as they pursued long-term profitability—a goal they finally achieved with positive Adjusted EBITDA in late 2024.

The Vistaprint Trio: Where are they in 2026?

The company was founded in 2012 by three former Vistaprint employees: Jason Robins, Matthew Kalish, and Paul Liberman.

• Jason Robins: Continues as CEO and Chairman of the Board.

• Paul Liberman: Serves as the President of Global Product and Technology.

• Matthew Kalish: Currently the President of North America, Kalish is set for a major transition. On March 31, 2026, he will step down from his executive role but will continue to exert influence as a member of the Board of Directors.

History, Myths, and Acquisitions

The ownership of DraftKings has been shaped by a decade of aggressive "land grabbing" in the legal sports betting market.

The 2020 SPAC Merger

DraftKings didn't go public via a traditional IPO. Instead, it used a "SPAC" (Special Purpose Acquisition Company) called Diamond Eagle Acquisition Corp. This was a three-way merger that included SBTech, a Bulgarian technology firm. This merger was the "Big Bang" for DraftKings' ownership, transforming it from a private DFS site into a vertically integrated gaming giant.

Major Acquisitions and Dilution

As DraftKings buys other companies, it often issues new shares, which changes the ownership mix.

• Golden Nugget Online Gaming (2022): This brought casino mogul Tilman Fertitta into the fold as a significant shareholder.

• Jackpocket (2024): The $750 million acquisition of the lottery courier app further diversified the shareholder base.

Does Disney or MLB Own Them?

• Major League Baseball: MLB was a "strategic investor" as early as 2013. While they have sold portions of their stake, they remain a key partner.

• The Walt Disney Company: Through its acquisition of 21st Century Fox, Disney inherited a stake in DraftKings. While Disney (via ESPN) has since launched its own competitor, ESPN BET (in partnership with PENN Entertainment), they have historically maintained a passive investment in DraftKings.

Frequently Asked Questions (FAQ)

Q: Is DraftKings owned by FanDuel? 

A: No. DraftKings and FanDuel are fierce rivals. FanDuel is owned by a public company called Flutter Entertainment.

Q: Can I buy DraftKings stock? 

A: Yes. It is traded on the Nasdaq under the ticker DKNG.

Q: Who is the CEO of DraftKings? 

A: Jason Robins has been the CEO since the company's founding in 2012.

Q: Does a foreign company own DraftKings? 

A: No, it is an American company based in Boston. However, it does have a significant technological presence in Europe following its merger with SBTech.

Conclusion: A Modern Ownership Masterclass

The story of who owns DraftKings is a reflection of the 2026 sports landscape: a mix of massive institutional money, passionate retail investors, and a founding team that has successfully navigated the shift from "legal gray area" to a regulated, multi-billion dollar industry. While Vanguard and BlackRock provide the capital, the steering wheel remains firmly in the hands of Jason Robins.