Richard 'Faze Banks' Bengtson has acquired a 25.5% stake in content creator-focused entertainment company Faze Media.
Bengtson, also its CEO, now owns 31% of the firm. Previous majority owner GameSquare will still have a controlling interest in the company, to ensure its "stability and continued growth," the announcement said.
Bengtson initially was behind esports outfit Faze Clan, which he co-founded back in 2010. The company was acquired by GameSquare in October 2023 for $18.5 million, a year after going public with a $725 million valuation. The company had laid off 20% of its staff in February 2023.
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