Faze Banks Increases Stake in Faze Media to 31%

Richard 'Faze Banks' Bengtson has increased his stake in Faze Media, a company focused on content creators, to 25.5%, bringing his total ownership to 31%. As CEO, Bengtson's expanded role comes as the company aims to drive growth and stability, with previous majority owner GameSquare maintaining a controlling interest. Bengtson co-founded Faze Clan, the esports organization from which Faze Media spun off, in 2010. Following GameSquare's acquisition of Faze Clan in 2023, Bengtson remained at the helm as CEO, overseeing the launch of Faze Media. The new venture was initially 51% owned by GameSquare and 49% by Matt Kalish, who invested $11 million. Bengtson expressed his commitment to reigniting the Faze brand's original spark, driving it forward with passion and creativity. He emphasized the company's confidence in Faze Clan's potential, with plans to continue building with the support of GameSquare and Kalish. GameSquare CEO Justin Kenna viewed the development as a 'win-win', highlighting the strategy to revive the Faze brand by involving its founders and structuring Faze Media as a creator-led IP and media company.