Liberty Media founder gives up voting control at F1's parent company

John Malone has surrendered most of his voting power in Liberty Media, the parent company of Formula 1, after the company bought back his high-vote shares and replaced them with low-vote stock.

The deal, announced in early November 2026, reduced Malone’s voting stake from around 48% to 3%. Liberty Media made the purchase after Malone received unsolicited approaches from third parties seeking to buy the shares.

Malone founded Liberty Media in 1991 and stepped down as its chairman in 2026. The company acquired F1 nine years earlier for $4.6 billion. Until the recent transaction, Malone was Liberty Media’s largest voting shareholder.

Share buyback keeps voting power within Liberty Media

By acquiring the high-vote stock, Liberty Media has prevented Malone’s voting rights from passing to an outside buyer. The change also gives Liberty Media shareholders greater influence over decisions, including any potential sale of F1.

Malone had said in 2025 that a sale could be considered if a buyer offered more than the board believed it could deliver to shareholders. The Saudi Arabian Public Investment Fund was among the parties mentioned at the time as a possible suitor. However, there is no indication Liberty Media is considering selling F1 in 2026.

Liberty Media’s portfolio also includes MotoGP commercial rights holder Dorna. The company completed its acquisition of an 84% stake in Dorna in 2025 for around $3.3 billion. The purchase is covered in our report on Liberty Media’s MotoGP acquisition.

Chang says Liberty is focused on growing its businesses

Speaking on Liberty Media’s third-quarter earnings call, president and chief executive Derek Chang said Malone had held a large share of the voting rights despite having a comparatively small economic interest. Chang said the stock purchase would allow Liberty Media to retain control over its future direction.

He also said the company’s priority remained investing in and growing its existing businesses, rather than pursuing other uses for its capital. Liberty Media’s financial performance has been another focus, including the reported revenue milestone for its Formula 1 business.

The source article put F1’s net worth at nearly $28 billion as of November 2026, while Forbes valued the average team at $3.6 billion in 2025. Those figures underline the significance of who holds influence over decisions concerning the championship.