DraftKings is owned by its shareholders because DraftKings Inc. is a publicly traded company listed on the Nasdaq under the ticker symbol DKNG. Its shares are held by institutional investors, company founders and executives, and individual investors.
However, one person has significantly more voting power than ordinary shareholders: Jason Robins, DraftKings’ co-founder, CEO, and chairman of the board. According to the company’s 2026 proxy statement, Robins owns all outstanding Class B shares, giving him approximately 88.3% of DraftKings’ total voting power as of March 19, 2026.
Major institutional shareholders include The Vanguard Group, FMR LLC (Fidelity), Janus Henderson Group, and BlackRock. These firms hold substantial Class A shares, but they do not have the same voting control as Robins.
In other words, DraftKings has many shareholders, but Jason Robins has controlling voting power.
Who Is the Owner of DraftKings Sportsbook?
DraftKings Sportsbook is part of DraftKings Inc., the publicly traded sports entertainment and gaming company. It is not a separate sportsbook owned by one individual.
The company’s ownership is divided among shareholders who hold its publicly traded stock. However, the company’s dual-class share structure gives Jason Robins control over most shareholder voting decisions.
This distinction is important:
- DraftKings Inc.: The publicly traded parent company.
- DraftKings Sportsbook: A sports betting product operated within the DraftKings business.
- Shareholders: Investors who own shares in DraftKings Inc.
- Jason Robins: The co-founder and CEO who holds the majority of the company’s voting power.
Readers interested in the wider sports betting industry can also explore other online gaming platforms, but ownership of DraftKings should not be confused with ownership of competing sportsbooks.
Who Founded DraftKings?
DraftKings was founded in 2012 by three entrepreneurs: Jason Robins, Matt Kalish, and Paul Liberman.
The founders initially focused on daily fantasy sports, creating a platform where sports fans could build fantasy lineups and compete in contests based on real-world athlete performances.
According to DraftKings’ official company history, the idea developed from the founders’ interest in improving traditional season-long fantasy sports. They launched the daily fantasy platform in 2012 and gradually expanded into a larger digital sports entertainment business. A
Jason Robins
Late-stage growth | Wellington Management
Jason Robins
Jason Robins is a co-founder, chief executive officer, and chairman of DraftKings. He has led the company’s strategy and operations since its early development and holds all of its outstanding Class B shares.
Robins’ ownership of Class B shares gives him substantially greater voting power than his percentage of ordinary Class A shares would suggest. This makes him the most influential individual in DraftKings’ ownership structure. Board of Directors+1
Matt Kalish
Corporate Profile | DraftKings Inc.
Matt Kalish
Matt Kalish is one of the company’s original co-founders. He previously served as President of DraftKings North America and helped oversee its sportsbook, iGaming, daily fantasy sports, and related operations.
Kalish transitioned out of his President, DraftKings North America role effective March 31, 2026, according to the company’s 2026 proxy materials. He remained identified as a co-founder and director in the company’s leadership information. PublicNow+1
Paul Liberman
DraftKings’ Founders Say Profitability Depends On Rollout Of States Legalizing Sports Betting
Paul Liberman
Paul Liberman is a co-founder and President of Operations at DraftKings. His responsibilities have included technology, product development, marketing, and operational leadership.
Liberman helped build the company’s technology and product infrastructure as DraftKings expanded from a daily fantasy sports startup into a broader digital gaming business.
Who Are the Largest Shareholders of DraftKings?
The largest reported institutional shareholders of DraftKings include The Vanguard Group, FMR LLC, Janus Henderson Group, and BlackRock.
The following figures are from DraftKings’ 2026 proxy statement, which reports beneficial ownership information using a March 19, 2026 record date. They represent reported Class A shareholdings, not current real-time positions. 21.2885125s+1
| Shareholder | Class A shares reported | Ownership |
|---|---|---|
| The Vanguard Group | 39,263,911 | 7.5% |
| FMR LLC (Fidelity) | 26,590,349 | 5.1% |
| Janus Henderson Group | 25,313,909 | 4.8% |
| BlackRock | 24,834,364 | 4.7% |
These firms manage investments for clients and funds. Their reported DraftKings holdings do not necessarily mean they personally own the shares for their own corporate accounts.
Does Vanguard Own DraftKings?
The Vanguard Group is one of DraftKings’ largest reported institutional shareholders. Its 2026 proxy statement lists approximately 39.3 million Class A shares, representing 7.5% of that share class. 21.2885125s
However, Vanguard does not own or control the entire company. Its investment position is separate from Jason Robins’ voting control through Class B shares.
Does BlackRock Own DraftKings?
BlackRock is another major institutional shareholder. DraftKings’ 2026 proxy statement reports approximately 24.8 million Class A shares, or 4.7% of the class, based on the ownership information cited in the filing. 21.2885125s
BlackRock is an investment management company that holds shares in many publicly traded businesses. Its position in DraftKings does not make it the company’s operator or controlling owner.
Do the Founders Still Own DraftKings?
Yes. DraftKings’ founders continue to hold company shares, although their ownership and voting rights differ.
The 2026 proxy statement reports the following beneficial ownership for the three co-founders:
| Founder | Class A shares reported | Class A ownership | Class B shares |
|---|---|---|---|
| Jason Robins | 11,472,868 | 2.1% | 393,013,951 |
| Matt Kalish | 6,999,555 | 1.3% | None reported |
| Paul Liberman | 4,696,792 | Less than 1% | None reported |
The most important detail is that Robins owns all outstanding Class B shares. These shares carry enhanced voting rights, which gives him approximately 88.3% of the total voting power. 21.2885125s+1
How Does DraftKings’ Ownership Structure Work?
DraftKings uses a dual-class stock structure. This means the company has two classes of common shares with different voting rights.
- Class A shares: One vote per share.
- Class B shares: Ten votes per share.
According to its 2026 proxy statement, DraftKings had 495,742,804 Class A shares and 393,013,951 Class B shares outstanding as of March 19, 2026. 21.2885125s
Why Does Jason Robins Have So Much Voting Power?
Jason Robins has so much voting power because he owns all outstanding Class B shares.
Although his reported Class A ownership was 2.1%, his Class B holdings represented 100% of that share class. Since each Class B share has ten votes, his total voting power was approximately 88.3%.
This is why ordinary share ownership percentages do not tell the entire story of DraftKings’ corporate control.
DraftKings voting structure
88.3%
Jason Robins’ reported voting power in the 2026 proxy statement
Jason Robins: 88.3%
Other holders: 11.7%
Voting power, not percentage of total economic ownership. Based on DraftKings’ March 19, 2026 record date. 21.2885125s+1
What Does This Mean for Other Shareholders?
Other shareholders can own DraftKings stock and participate in shareholder voting. However, their combined voting power is substantially smaller than Robins’ voting power under the current disclosed structure.
DraftKings also identifies itself as a controlled company under Nasdaq listing standards. The company’s annual report explains that Robins’ voting control means certain corporate governance requirements applicable to other Nasdaq-listed companies do not apply in the same way. SEC+1
For investors, this is an important consideration. Buying Class A shares provides an economic interest in DraftKings, but it does not provide voting influence proportional to the company’s total voting power.
Is DraftKings a Publicly Traded Company?
Yes. DraftKings is publicly traded on the Nasdaq Stock Market under the ticker symbol DKNG.
The company became publicly traded in April 2020 after completing a business combination involving DraftKings, Diamond Eagle Acquisition Corp., and SBTech. The transaction allowed DraftKings to enter the public market without following the traditional IPO route on its own. draftkings.com+1
How Did DraftKings Go Public?
DraftKings completed its business combination on April 23, 2020, and its Class A common stock began trading under the DKNG ticker on April 24, 2020. draftkings.com
The transaction involved three main parties:
- DraftKings: The digital sports entertainment and gaming company.
- Diamond Eagle Acquisition Corp.: The publicly traded special purpose acquisition company.
- SBTech: A sports betting and gaming technology provider.
The transaction expanded DraftKings’ position in the public markets and brought together its consumer-facing products and SBTech’s technology capabilities.
Can Anyone Buy DraftKings Stock?
Investors can generally purchase DraftKings Class A shares through a brokerage account that provides access to Nasdaq-listed stocks, subject to their local laws and broker requirements.
The stock trades under the symbol DKNG. Its price changes throughout the trading day based on market activity, company performance, and investor expectations.
Potential investors should review the company’s financial statements, competitive position, regulatory exposure, and dual-class voting structure before buying shares.
What Is DraftKings’ Net Worth?
DraftKings’ corporate value is usually discussed through its market capitalization, rather than personal net worth.
Market capitalization is calculated by multiplying a company’s share price by its outstanding publicly traded shares. Because DraftKings’ stock price changes, its market capitalization also changes.
It is important to distinguish between three financial measures:
| Financial term | Meaning |
|---|---|
| Market capitalization | The market value of a company’s outstanding shares |
| Enterprise value | Market capitalization adjusted for debt, cash, and certain other financial items |
| Net income | The company’s profit or loss after expenses and applicable taxes |
The original article’s estimate of $11 billion to $12.5 billion should not be presented as a fixed 2026 company value without a dated market-data source. Readers should check the latest DKNG quote and outstanding share count for a current estimate.
For official financial information, investors can review DraftKings’ SEC filings and investor reports.
How Does DraftKings’ Ownership Affect Its Business?
Ownership can influence a company’s long-term direction, leadership accountability, corporate governance, and major strategic decisions.
In DraftKings’ case, the dual-class share structure gives Jason Robins significant influence over shareholder decisions. Institutional investors also have an economic interest in the company’s performance and can exercise the voting rights attached to the shares they hold.
However, it would be inaccurate to claim that Vanguard or BlackRock directly decide individual sportsbook offerings, promotions, customer support policies, or state-level operations simply because they own shares.
Those decisions are handled through the company’s management and operational structure, subject to applicable laws and regulatory requirements.
DraftKings’ Expansion and Business Development
DraftKings began as a daily fantasy sports company and expanded into regulated sports betting, online casino gaming, and other digital entertainment products.
Its growth has involved technology investments, partnerships, acquisitions, and expansion into new markets. The company’s DraftKings business developments provide additional context on its market activity.
Its operations also depend on local gambling laws. Availability differs by jurisdiction, so readers should check DraftKings state availability rather than assuming that every product is offered everywhere.
For additional background, readers can explore DraftKings horse racing and its broader online gambling coverage.
DraftKings vs. FanDuel: Are They Owned by the Same Company?
No. DraftKings and FanDuel are separate businesses with different corporate ownership structures.
DraftKings Inc. is publicly traded under DKNG. FanDuel operates under a different corporate structure within Flutter Entertainment.
Both brands compete in daily fantasy sports and online sports betting, but they do not share the same parent company. Readers comparing the platforms can also explore this FanDuel or DraftKings comparison.
What Challenges Does DraftKings Face?
DraftKings operates in a highly regulated and competitive industry. Its ownership structure does not eliminate the business risks associated with sports betting and online gaming.
Regulatory and Legal Requirements
Sports betting and online casino gaming are regulated differently across jurisdictions. DraftKings must comply with the licensing, consumer protection, advertising, and responsible gambling requirements that apply to each market where it operates.
Its availability in places such as Michigan and Ohio depends on local regulations and the products authorized in those jurisdictions.
Competition
DraftKings faces competition from FanDuel and other gaming companies. Competition can affect customer acquisition costs, marketing expenses, product development, and profitability.
Corporate Governance
The dual-class share structure concentrates voting power with Jason Robins. While this can provide continuity in leadership, it also limits the ability of ordinary Class A shareholders to influence major corporate decisions.
Investors should consider this arrangement when evaluating the company’s stock.
Customer Experience and Brand Reputation
Customer service, product reliability, and responsible gambling practices can affect a gaming company’s reputation and long-term performance.
Readers looking for platform-related information can visit the DraftKings customer support guide and the coverage of DraftKings Casino Queen.
Where Can You Find Reliable DraftKings Ownership Information?
The most reliable place to check DraftKings ownership is the company’s official investor relations website and its filings with the U.S. Securities and Exchange Commission.
Useful documents include:
- DEF 14A proxy statements: Disclose beneficial ownership of certain shareholders and executives, as well as voting arrangements.
- Schedule 13D and 13G filings: Report certain large beneficial ownership positions.
- Form 4 filings: Report changes in beneficial ownership by directors, officers, and certain other insiders.
- Form 10-K annual reports: Explain the company’s financial condition, stock structure, risks, and corporate governance.
- Form 10-Q quarterly reports: Provide updated financial information and relevant company disclosures.
You can access these documents through DraftKings Investor Relations or the SEC’s company filing database.
For a broader shareholder discussion, see the original Who Really Owns DraftKings? article from Simply Wall St. Remember that third-party ownership summaries may use different reporting dates and methodologies.
Frequently Asked Questions About DraftKings Ownership
Who owns DraftKings?
DraftKings is owned by its shareholders because it is a publicly traded company. Its shareholders include institutional investors, founders, executives, and individual investors. Jason Robins holds controlling voting power through his ownership of all outstanding Class B shares.
Does Jason Robins own DraftKings?
Jason Robins is a co-founder, CEO, and chairman of DraftKings. He does not own every share of the company, but he owns all outstanding Class B shares, which gave him approximately 88.3% of the company’s total voting power as of March 19, 2026.
Who is the biggest shareholder of DraftKings?
Jason Robins holds all outstanding Class B shares and has the largest voting influence. Among the institutional Class A shareholders listed in DraftKings’ 2026 proxy statement, The Vanguard Group had the largest reported holding at approximately 39.3 million shares, or 7.5% of Class A stock.
Does Vanguard own DraftKings?
Yes. The Vanguard Group is a major institutional shareholder of DraftKings. Its 2026 proxy-statement disclosure lists approximately 39.3 million Class A shares, representing 7.5% of that share class.
Does BlackRock own DraftKings?
Yes. BlackRock is a significant institutional shareholder. DraftKings’ 2026 proxy statement reported approximately 24.8 million Class A shares held by BlackRock, equivalent to 4.7% of that share class.
Who are the founders of DraftKings?
DraftKings was founded in 2012 by Jason Robins, Matt Kalish, and Paul Liberman. The three entrepreneurs originally developed the company around daily fantasy sports before it expanded into sports betting and online gaming.
Is DraftKings privately owned or publicly traded?
DraftKings is publicly traded on the Nasdaq Stock Market under the ticker symbol DKNG. Its Class A shares are available to investors through eligible brokerage accounts.
Does Jason Robins control DraftKings?
Yes. DraftKings’ dual-class share structure gives Jason Robins approximately 88.3% of total voting power according to its 2026 proxy statement. He owns all outstanding Class B shares, and each Class B share carries ten votes.
Are DraftKings and FanDuel owned by the same company?
No. DraftKings and FanDuel are separate businesses. DraftKings is publicly traded under DKNG, while FanDuel operates under Flutter Entertainment.
How did DraftKings become a public company?
DraftKings became publicly traded in April 2020 through a business combination involving Diamond Eagle Acquisition Corp. and SBTech. Its Class A shares began trading on Nasdaq under the ticker DKNG on April 24, 2020.
What is DraftKings’ stock symbol?
DraftKings’ stock symbol is DKNG. Its Class A common stock trades on the Nasdaq Stock Market.
Can DraftKings shareholders vote on company decisions?
Yes. DraftKings shareholders have voting rights attached to their shares. However, Class A shares carry one vote each, while Class B shares carry ten votes each. Because Jason Robins owns all outstanding Class B shares, he holds the overwhelming majority of the company’s voting power.
Conclusion: Who Really Controls DraftKings?
DraftKings is a publicly traded company owned by institutional investors, founders, executives, and individual shareholders. Its largest reported institutional shareholders include Vanguard, Fidelity’s parent company FMR LLC, Janus Henderson, and BlackRock.
However, Jason Robins is the person with controlling voting power at DraftKings. His ownership of all outstanding Class B shares gives him approximately 88.3% of total voting power, despite his much smaller reported percentage of Class A shares.
This distinction explains why DraftKings can have many public shareholders while still having one individual with substantial control over corporate decisions.
Anyone researching DraftKings as a business or potential stock investment should look beyond the list of major shareholders. The company’s dual-class structure, financial performance, leadership, regulatory environment, and competitive position all matter when evaluating its long-term prospects.
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