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One of the biggest hands behind shaping cable TV and media, John Malone, will step down as chairman of his Liberty Media and Liberty Global holding companies. It will be effective from January 1, 2026. He is leaving the board of directors, and the role will be taken over by Robert R. Bennett, the current vice chairman of Liberty Media.
In a statement, John Malone said,
“Founding Liberty Media and serving as its chairman has been among the most rewarding experiences of my professional life. With the successful simplification of our portfolio in recent years and our operating businesses in positions of strength, I believe it is an appropriate time to step back from certain of my obligations, and I am very pleased to have Dob Bennett, my partner and colleague of 35 years, stepping into the chairman role."
He further talked about Bennett, "Dob has been involved in all key decisions throughout Liberty Media’s history, and I am confident that Liberty is well-positioned for the future. I look forward to remaining actively engaged as a large Liberty shareholder and a strategic advisor to our management and Board.”
While Robert Bennett said,
“I want to thank John for more than three decades of partnership and mentorship. His legacy as a visionary business leader is without parallel and I am deeply grateful for his confidence. I speak for the entire board in thanking John for his extraordinary leadership as our chairman and for his continuing engagement as chairman emeritus.”
What is John Malone's net worth?
According to Forbes' real-time net worth, John Malone, whose nickname is Cable Cowboy, is worth $11.1 billion, putting him in 266th position in the world. He is also the second biggest individual landowner in the country and has over two million acres split across seven states.
He owns approximately 241,000 shares Series A Formula One common stock, 2.364 million shares Series B Formula One common stock, and 2.515 million shares Series C Formula One common stock, representing approximately 49.5% of the voting power of the Formula One common stock as of August 31, according to Variety. This is, of course, in addition to his Liberty Live stocks. This also comes from the fact that the Liberty Media stocks come from two stock groups, which are the Formula One Group, which includes Formula 1, MotoGP, Quint, and other smaller investments, and the Liberty Live Group, which comes with Liberty Media’s interest in Live Nation Entertainment.
John Malone will be transitioning to the role of chairman emeritus come January. Similarly, for Liberty Global, a European and U.K. telecom operator, CEO and vice chairman Mike Fries will succeed Malone.
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