Who Owns Epic Games (Fortnite)? (2022)

Epic Games is an American publisher and producer of video games and software, headquartered in Cary, North Carolina.

Fortnite, the Unreal, Gears of War, and Infinity Blade series, as well as other independently developed video games powered by Epic Games’ Unreal Engine are all created by Epic Games. Guinness World.

Who Owns Epic Games?

Tim Sweeney is the current majority owner of Epic Games. Seeney owns a little over 50% of the video game company.

There are at least three other minority owners of the company, in which Tencent is the largest with 40% shares. Tencent invested in the company in July, 2018 at a valuation of $4.8 billion.

Sony & The Lego Group’s parent Kirkbi are the other two minority owners of Epic Games.

About Epic Games

With facilities in Seattle, England, Berlin, Yokohama, and Seoul, Epic Games also owns the game development companies Chair Entertainment, Psyonix, Mediatonic, Harmonix, and Cloudgine.

While Sweeney continues to own the majority of the company’s shares, Tencent purchased a 48.4% outstanding stake, or 40% of the entire Epic, in the business in 2012 as part of a deal to transition Epic to a games as a service business model.

Following the introduction of the well-liked Fortnite Battle Royale game in 2017, the business received more funding that allowed it to increase the range of Unreal Engine products it offered, create esport competitions centred around Fortnite, and introduce the Epic Games Store. The corporation is valued at US$32 billion in equity as of April 2022.

Due to Fortnite Battle Royale, Epic Games, which had been valued at roughly $825 million at the time of Tencent’s acquisition, was estimated to be worth $4.5 billion in July 2018. With Fortnite Battle Royale’s anticipated growth, Epic Games was anticipated to surpass $8.5 billion by the end of 2018.

When Epic had finished a new $750 million funding round from its old investors and newcomers T. Rowe Price Group Inc. and Baillie Gifford, according to Bloomberg, it was close to a $17 billion valuation in June 2020.

Epic secured an additional $1.78 billion in capital throughout the course of July and August, raising the company’s post-money equity valuation to $17.3 billion. Sony contributed $250 million to this, or around a 1.4% interest in the business.

In April 2022, Sony and Kirkbi, the parent company of The Lego Group, each gave Epic $1 billion for continuous assistance in expanding their metaverse. Through these investments, Kirkbi’s stake climbed to 3% and Sony’s to 4.9%. The anticipated market value of Epic after these investments was $32 billion.

Who Founded Epic Games?

Tim Sweeney established Potomac Computer Systems in 1991. Sweeney was a student at the University of Maryland at the time, majoring in mechanical engineering and residing in a residence hall. His personal computer, which he used for both business and play, was located near Potomac, Maryland, where he frequently visited his parents.

Even though he was the only employee, Sweeney came up with the moniker “Epic MegaGames” in 1992. It combined the words “Epic” and “Mega” to sound like it signified a huge company (like Apogee Software).

Epic MegaGames declared in February 1999 that they had relocated to Cary, North Carolina, and will henceforth be known as just Epic Games.

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