Who Owns Bethesda?
Updated onDiscover the owner of Bethesda and explore the full ownership hierarchy. See the Bethesda parent company, holding structures, and ultimate controllers.
Bethesda
Bethesda (Bethesda Softworks) is an American video game publisher under ZeniMax Media’s Microsoft-owned gaming division, best known for franchises like The Elder Scrolls, Fallout, DOOM, and Wolfenstein and represented online via its official portal bethesda.net.
ZeniMax Media Inc.
ZeniMax Media Inc. is an American video game holding company and publisher that owns major studios such as Bethesda Game Studios, id Software, Arkane Studios, MachineGames, and ZeniMax Online Studios.
Microsoft
Microsoft Corporation is a multinational technology company that develops, licenses, and supports software, services, devices, and cloud-based platforms for consumers and enterprises.
Bethesda
Bethesda (Bethesda Softworks) is an American video game publisher under ZeniMax Media’s Microsoft-owned gaming division, best known for franchises like The Elder Scrolls, Fallout, DOOM, and Wolfenstein and represented online via its official portal bethesda.net.
ZeniMax Media Inc.
ZeniMax Media Inc. is an American video game holding company and publisher that owns major studios such as Bethesda Game Studios, id Software, Arkane Studios, MachineGames, and ZeniMax Online Studios.
Microsoft
Microsoft Corporation is a multinational technology company that develops, licenses, and supports software, services, devices, and cloud-based platforms for consumers and enterprises.
Major Shareholders
Bethesda
Major Shareholders
| Name | Type | Ownership | Voting | As of |
|---|---|---|---|---|
ZeniMax Media Inc. Bethesda Softworks LLC is described in multiple sources as a wholly owned subsidiary of ZeniMax Media, which has been its direct corporate parent since 1999. Microsoft acquired ZeniMax Media in 2021, but ZeniMax remains Bethesda’s immediate owner rather than Microsoft’s public shareholders. | Corporate | 100.0% | 100.0% | — |
Microsoft
Major Shareholders
| Name | Type | Ownership | Voting | As of |
|---|---|---|---|---|
The Vanguard Group, Inc. Approx. 701.99M MSFT shares (~9.44% of outstanding) held across Vanguard index and mutual funds as of Sept 30 2025. | Institutional | 9.4% | 9.4% | Sep 2025 |
BlackRock Inc. BlackRock and affiliates hold about 591.86M Microsoft shares (~7.96%) via iShares ETFs and other funds as of Sept 30 2025. | Institutional | 8.0% | 8.0% | Sep 2025 |
Steve Ballmer Former Microsoft CEO and largest individual shareholder; estimated to own ~333M MSFT shares (~4.48% of the company) as of late 2025. | Individual | 4.5% | 4.5% | Nov 2025 |
State Street Corporation State Street Global Advisors and related entities own ~299.76M Microsoft shares (~4.03% of outstanding) as of Sept 30 2025. | Institutional | 4.0% | 4.0% | Sep 2025 |
FMR LLC (Fidelity) FMR LLC (Fidelity Investments) manages about 210.49M Microsoft shares (~2.83% stake) through its mutual funds as of Sept 30 2025. | Institutional | 2.8% | 2.8% | Sep 2025 |
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