FaZe Clan Could Be Delisted From Stock Market — Details on Its Owner (2024)

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FaZe Clan is a top esports organization that went public with a SPAC merger in 2022. Who owns the company? It might get dropped from the stock market?

FaZe Clan Could Be Delisted From Stock Market — Details on Its Owner (1)

By Kathryn Underwood

Mar. 28 2023, Updated 5:08 p.m. ET

FaZe Clan Could Be Delisted From Stock Market — Details on Its Owner (2)

In this article

  • Who currently owns FaZe Clan?
  • Who is the CEO of FaZe Clan and who are some of its members?
  • What is FazeClan's net worth?
  • How much did FaZe Clan pay Snoop Dogg?

Founded in 2010, FaZe Clan is a top esports and entertainment company. The organization aims to engage with its millions of fans through top influencers as members, and its roster now includes hip-hop artist Snoop Dogg.

Given how popular FaZe Clan has become and the recent struggles it has encountered on the stock market, you're probably wondering who owns it.

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FaZe Clan was founded as FaZe Sniping by gamers Eric "CLipZ" Rivera, Jeff "House Cat" Emann, and Ben "Resistance" Christensen, who began with the creation of gaming montages. “House Cat” now is known as “Timid.” By 2012, the YouTube channel had over 1 million subscribers.

Read on to learn about who owns FaZe Clan and where its net worth stands today.

Who currently owns FaZe Clan?

FaZeClan is owned by several gamers, individual stakeholders, and mutual fund holders. The company went public via a SPAC in 2022 and trades on the Nasdaq under the ticker symbol "FAZE."

Some of top owners of FaZe Clan are as follows:

  • Thomas “Temperrr” Oliveira

  • Yousef “Apex” Abdelfattah

  • Nordan “Rain” Shat

  • Brian “Rug” Awadis

  • Richard “Banks” Bengston

  • Alexander “Adapt” Prynkiewicz

  • Nicholas “Nickmercs” Kolcheff

  • Kiari “Offset” Cephus

  • Jimmy Iovine

  • Paul “DJ Paul” Beauregard

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Who is the CEO of FaZe Clan and who are some of its members?

FaZe Clan is headed by CEO Lee Trink, a former record executive. Tom Fox currently serves as the company's president.

FaZe Clan members have played in games including Call of Duty, Counter-Strike: Global Offensive, PlayerUnknown's Battlegrounds, Tom Clancy's Rainbow Six Siege, FIFA, Valorant, Fortnite Battle Royale, and Rocket League.

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Some of the organization’s non-professional gamers include NFL star Kyler “FaZe K1” Murray, Lebron “FaZe Bronny” James Jr. (son of the NBA player LeBron James), Lil Yachty or “FaZe Boat,” and Offset or “FaZe Offset.”

FaZe Clan Could Be Delisted From Stock Market — Details on Its Owner (4)

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What is FazeClan's net worth?

When FaZe Clan first announced its plans to go public via a SPAC merger in 2021, it put the company's valuation at $1 billion. However, nine months later (July 2022), after FaZe Clan went public, its valuation had dropped to $725 million, CNBC reports. Some sources now speculate FaZe Clan might be worth around $400 million.

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Now, nearly a year after trading on the Nasdaq, FaZe Clan has run into some unexpected trouble. Hypebeast recently reported that the esports company is at risk of being delisted from trading. The source says the company received a "Notice of Delisting" that stated if its stock doesn't reach above $1 within the next few months, it will be removed from Nasdaq.

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How much did FaZe Clan pay Snoop Dogg?

FaZe Clan Could Be Delisted From Stock Market — Details on Its Owner (5)

Known for his decades as a hip-hop artist in the music industry (and his halftime appearance in Super Bowl LVI), Snoop Dogg is also a gamer who launched his own esports league and has recently announced his new membership in FaZe Clan. He’ll go by the moniker FaZe Snoop within the gaming universe.

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Snoop Dogg has produced hit rap and hip-hop content for 30 years. With about 35 million in worldwide album sales, the entertainer also leads an active entrepreneurial life. He revealed himself in the fall of 2021 as Cozomo de’ Medici, with an over $17 million NFT collection.

Snoop Dogg, or FaZe Snoop, said that his son Cordell Broadus helped inspire him to join the organization, according to PCGamer. Cordell said of his father, “When I look at the two brands, I was inspired by the synergy they could create so I brought them together in this partnership.”

As a part of FaZe Clan, Snoop Dogg will be involved in creation of content, merchandise launches, and other business initiatives. Of course, his involvement did come at a price.

According to Forbes, FaZe Clan paid Snoop Dogg $1.9 million in stock as well as "$248,000 worth of stock each to his son and companies controlled by his spouse and his manager." He also received a cozy space on the company's board.

FaZe Clan Could Be Delisted From Stock Market — Details on Its Owner (2024)

FAQs

Will FaZe stock be delisted? ›

GAMESQUARE HOLDINGS INC shareholders approved the Acquisition on February 27, 2024. The Acquisition was announced successful prior to market open on March 8, 2024. Trading in shares of FAZE HOLDINGS INC will be halted on March 8, 2024 and will cease trading on March 11, 2024.

What will happen to my FaZe stock? ›

(NASDAQ:FAZE) ("FaZe"), today announced the completion of GameSquare's merger with FaZe that was originally announced on October 20, 2023. As a result of the merger, and effective as of the close of trading on March 8, 2024, FaZe's common stock (NASDAQ:FAZE) and FaZe warrants (NASDAQ:FAZEW) will cease trading.

What's going on with FaZe Clan? ›

FaZe Clan has decided to restructure its business, following the merger of Gamesquare and Richard Banks becoming the CEO. As a part of bringing changes to the business, the renowned company has laid off and kicked a few members, leaving some fans shocked.

What price does a stock have to be to be delisted? ›

How to Stay Listed. Listing requirements vary from one exchange to the next. For example, on the New York Stock Exchange (NYSE), if a security's price closed below $1.00 for 30 consecutive trading days, that exchange would initiate the delisting process.

Do you lose everything if a stock is delisted? ›

Though delisting does not affect your ownership, shares may not hold any value post-delisting. Thus, if any of the stocks that you own get delisted, it is better to sell your shares. You can either exit the market or sell it to the company when it announces buyback.

How long does it take for a stock to be delisted? ›

How Long Does a Stock Delisting Take? If a company fails to meet the minimum listing requirements, they can be delisted from the exchange it trades on. Companies have 10 days on the New York Stock Exchange (NYSE) to respond to a notification letter from the exchange.

Who bought out FaZe? ›

Burned by controversy and facing a collapsing share price, the embattled North American esports team has been acquired by GameSquare, the Texas-based esports company backed by Dallas Cowboys owner Jerry Jones. As of today, October 20, the acquisition has been unanimously approved by both companies' boards.

Should I invest in FaZe stock? ›

FAZE stock recorded 12/30 (40%) green days with 12.30% price volatility over the last 30 days. Based on the FaZe Holdings Inc. stock forecast, it's now a good time to buy FAZE stock because it's trading 0.00% below our forecast, and it could be undervalued.

What is FaZe Clan's net worth? ›

Skeptics point to the company's $36.9 million net loss for 2021, among other things, and Forbes now values FaZe at $400 million, No. 4 in the ranking.

Who has left FaZe Clan? ›

So far, here are the FaZe Clan members who have been removed from the roster:
  • Blaze.
  • Booya.
  • CBass.
  • Cizzorz.
  • Fazuty.
  • Flea.
  • H1ghSky1.
  • Kalei.
Apr 30, 2024

Is FaZe kay banned from FaZe? ›

FaZe Clan has fired Kay and suspended three other members—Jarvis, Nikan and Teeqo—following their involvement in a cryptocurrency scheme. In June, it was revealed that the pro gamers were promoting an altcoin called Save The Kids, with a portion of proceeds purportedly going to charity.

What happens if a stock gets delisted and I have shares? ›

If you still hold shares after they are delisted, you can sell them—just not on the exchange on which they traded before. Stock exchanges are very advantageous for buying and selling shares. When they delist and trade over the counter (OTC), selling shares and getting a reasonable price for them becomes much harder.

Can you hold delisted stock? ›

When a company is delisted, its shares are no longer eligible for trading on the stock exchange. As a shareholder and if you continue to hold on to the shares post-delisting, you will continue to have legal and beneficial ownership and rights over the shares that you hold in the company.

How long can you be under $1 before delisting? ›

If a company trades for 30 consecutive business days below the $1.00 minimum closing bid price requirement, Nasdaq will send a deficiency notice to the company, advising that it has been afforded a "compliance period" of 180 calendar days to regain compliance with the applicable requirements.

How do you sell delisted? ›

The corporation must honour the delisting price. If the firm has been delisted for more than a year, the shareholder might approach the company and negotiate a private sale of the shares to the promoters. This will be an off-market transaction, with the price agreed upon by the seller and buyer.

Why did FaZe stock collapse? ›

The company's fortunes changed when its investors defaulted on the majority of the $100 million that was supposed to be delivered as liquid capital. That development contributed to FaZe's decision to go through a round of layoffs, which sent its stock price plummeting even further.

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