Who Owns Epic Games
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Epic Games is a video game company best known for its work on the popular franchise, Fortnite. Despite its current success, many fans and gamers may be surprised to learn that Epic Games is no longer owned by its founder, Tim Sweeney.
In 1992, Sweeney launched Epic MegaGames, which was later renamed Epic Games. The company rose to success due to its popular titles such as Unreal Tournament and Gears of War. In 2012, Chinese conglomerate Tencent purchased a 40% stake in the company and eventually increased its share to a majority stake. Consequently, this made Tencent the controlling partner of the company.
While Sweeney initially retained a 48% stake in the company, it was announced in 2020 that he had sold his remaining share to Tencent thus relinquishing control of the company he founded. This sale is reported to be worth billions of dollars and cements Tencent’s status as the majority owner of Epic Games.
At present, Tencent’s ownership of Epic Games has not seemed to affect the company’s daily operations. As evidenced by the massive success of Fortnite, Epic Games remains one of the most profitable video game companies in the world. However, it is worth noting that Tencent’s ownership has impacted the release of the game in certain countries due to restrictions placed on their subsidiaries in those countries.
Despite the change in ownership, Epic Games’ mission remains largely unchanged. The company is still committed to creating video games and technology that will stand the test of time. As such, Tencent’s ownership of Epic Games is likely to remain unchallenged for years to come.