McDonald’s, a global fast-food giant, operates over 38,000 restaurants worldwide. Understanding who owns McDonald’s involves delving into its history, ownership structure, and market presence.
History of McDonald’s
McDonald’s started as a small drive-in restaurant in 1940 in San Bernardino, California. Richard and Maurice McDonald, the founders, initially ran a typical carhop service, where customers parked and waited for their food to be delivered to their vehicles. The menu was extensive, offering barbecue, hot dogs, and hamburgers.
In 1948, the brothers noticed that hamburgers and fries were their most popular items. They decided to streamline operations, removing carhops and creating the “Speedee Service System.” This revolutionary system emphasized quick service, a limited menu, and efficient food preparation using an assembly-line approach. The result was a fast, affordable, and consistent dining experience that became the foundation of modern fast food.
In 1954, Ray Kroc, a Multimixer milkshake machine salesman, discovered McDonald’s when he noticed that the brothers were using eight of his machines simultaneously. Intrigued by their efficient operation, Kroc visited the restaurant and saw an opportunity for massive expansion. He proposed franchising the brand nationwide, a vision that Richard and Maurice had not pursued aggressively.
In 1955, Kroc founded McDonald’s Corporation and opened the first franchised McDonald’s in Des Plaines, Illinois. He refined the business model, introducing a standardized menu, strict quality controls, and a strong focus on branding. By 1961, Kroc had purchased the entire company from the McDonald brothers for $2.7 million, ensuring complete control over the brand.
Under Kroc’s leadership, McDonald’s expanded rapidly across the United States and internationally. The iconic Golden Arches logo became a globally recognized symbol of fast food. In 1968, McDonald’s introduced the Big Mac, which became one of its most famous menu items. The company continued to innovate, adding the Egg McMuffin in 1972, Chicken McNuggets in 1983, and the drive-thru concept to cater to busy customers.
By the 1980s and 1990s, McDonald’s had established itself in markets worldwide, opening restaurants in China, Russia, and India. The company adapted its menu to local tastes while maintaining core items like burgers and fries.
Today, McDonald’s operates over 38,000 locations in more than 100 countries. It remains the largest fast-food chain in the world, continuing to evolve with digital ordering, sustainability initiatives, and menu innovations.
Who Owns McDonald’s?
McDonald’s Corporation is a publicly traded company with a diverse ownership structure comprising institutional investors, individual shareholders, and the general public. As of the latest available data, institutional investors hold approximately 73% of the company’s shares, while the general public owns about 26.8%.
Major Shareholders of McDonald’s
McDonald’s is a publicly traded company, meaning it is owned by multiple institutional and individual investors. Institutional shareholders hold the majority of shares, giving them significant influence over corporate decisions.
Below is a detailed breakdown of the largest shareholders of McDonald’s:
| Shareholder | Ownership (%) | Shares Owned (millions) | Role | Influence |
|---|---|---|---|---|
| The Vanguard Group, Inc. | 9.79% | 70.2 | Largest institutional investor | High voting power, influences governance |
| BlackRock, Inc. | 7.31% | 52.4 | Second-largest shareholder | Advocates for sustainability & corporate policies |
| State Street Global Advisors, Inc. | 4.95% | 35.5 | Major asset manager | Focuses on governance & shareholder value |
| JP Morgan Asset Management | 3.57% | 25.6 | Leading investment firm | Pushes for profitability & shareholder returns |
| Geode Capital Management, LLC | 2.24% | 16.1 | Passive investment firm | Supports financial governance |
| Wellington Management Group LLP | 1.96% | 14.0 | Private investment firm | Focuses on long-term growth |
| Capital Research and Management Company | 1.86% | 13.3 | Investment management firm | Provides financial stability |
| UBS Asset Management AG | 1.59% | 11.4 | Global asset manager | Ensures corporate growth & financial stability |
| Morgan Stanley Investment Management | 1.52% | 10.9 | Investment bank | Supports dividend growth & profitability |
| Norges Bank Investment Management | 1.31% | 9.4 | Sovereign wealth fund | Promotes sustainability & ethical business |
| Northern Trust Global Investments | 1.24% | 8.9 | Institutional investor | Ensures governance & financial stability |
| Wells Fargo & Company | 1.01% | 7.3 | Banking & investment firm | Focuses on shareholder returns & expansion |
| Charles Schwab Investment Management | 0.79% | 5.7 | Investment management firm | Supports financial stability & growth |
The Vanguard Group, Inc.
- Ownership: 9.79% (approx. 70.2 million shares)
- Role: Largest institutional investor in McDonald’s
- Influence: High voting power in shareholder meetings
The Vanguard Group is one of the world’s largest asset management firms. It manages trillions of dollars in assets across multiple industries, including fast food. As McDonald’s largest shareholder, Vanguard has significant influence over corporate governance, executive compensation, and long-term strategy. However, since Vanguard operates index and mutual funds, it does not actively participate in day-to-day management but votes on key issues affecting the company’s direction.
BlackRock, Inc.
- Ownership: 7.31% (approx. 52.4 million shares)
- Role: Second-largest institutional investor
- Influence: Major say in corporate policies and executive leadership
BlackRock is another global investment giant that holds significant shares in McDonald’s. Like Vanguard, BlackRock invests in McDonald’s through its exchange-traded funds (ETFs) and mutual funds. It uses its voting power to push for long-term financial stability, sustainability initiatives, and strong governance policies. BlackRock has previously advocated for environmental and social responsibility within large corporations, including McDonald’s.
State Street Global Advisors, Inc.
- Ownership: 4.95% (approx. 35.5 million shares)
- Role: Major institutional investor and asset manager
- Influence: Advocates for corporate responsibility and financial performance
State Street Global Advisors manages billions in assets and holds a strong position in McDonald’s stock. The firm focuses on shareholder value and corporate responsibility, often engaging with companies to improve governance practices. While it does not directly manage McDonald’s, its substantial stake allows it to influence board decisions through voting power.
JP Morgan Asset Management
- Ownership: 3.57% (approx. 25.6 million shares)
- Role: Leading financial institution investing in McDonald’s
- Influence: Focuses on profitability and shareholder returns
JP Morgan Asset Management, a division of JPMorgan Chase, is one of the largest investment firms in the world. It invests in McDonald’s through various funds, focusing on long-term financial growth and stable returns. The company may use its voting rights to influence dividend policies and corporate strategy.
Geode Capital Management, LLC
- Ownership: 2.24% (approx. 16.1 million shares)
- Role: Investment management firm specializing in passive funds
- Influence: Supports strong financial governance and steady growth
Geode Capital Management is known for managing passive investment funds. It primarily follows index-based investing strategies, meaning it holds McDonald’s stock as part of broader market indexes. Though it does not actively engage in management decisions, its stake gives it a voice in shareholder votes.
Wellington Management Group LLP
- Ownership: 1.96% (approx. 14.0 million shares)
- Role: Private investment firm managing diversified portfolios
- Influence: Supports long-term growth strategies
Wellington Management is a privately held investment firm that invests in McDonald’s as part of its diversified portfolio. It seeks stable companies with strong brand recognition and consistent revenue streams. Wellington typically engages in discussions with corporate management to ensure shareholder interests are protected.
Capital Research and Management Company
- Ownership: 1.86% (approx. 13.3 million shares)
- Role: Investment management company focusing on long-term value
- Influence: Provides financial stability and voting power in board decisions
Capital Research and Management Company, part of Capital Group, specializes in long-term investments. It chooses companies with strong market positions, and McDonald’s fits its investment strategy well. The firm likely supports policies that enhance profitability and shareholder returns.
UBS Asset Management AG
- Ownership: 1.59% (approx. 11.4 million shares)
- Role: Global investment bank and asset manager
- Influence: Advocates for financial stability and corporate growth
UBS Asset Management, a division of Swiss banking giant UBS, invests in McDonald’s through its equity funds. It primarily focuses on maximizing returns while ensuring corporate governance remains strong.
Morgan Stanley Investment Management
- Ownership: 1.52% (approx. 10.9 million shares)
- Role: Investment bank and wealth management firm
- Influence: Supports dividend growth and profitability initiatives
Morgan Stanley, a major Wall Street firm, holds a significant stake in McDonald’s through its investment management division. The firm often engages with companies to promote policies that enhance shareholder value, including maintaining strong dividend payouts.
Norges Bank Investment Management
- Ownership: 1.31% (approx. 9.4 million shares)
- Role: Manages Norway’s sovereign wealth fund
- Influence: Pushes for sustainability and ethical business practices
Norges Bank Investment Management manages Norway’s Government Pension Fund Global, one of the largest sovereign wealth funds in the world. It invests in McDonald’s for long-term growth and financial returns. The fund also promotes sustainability initiatives and responsible business practices.
Northern Trust Global Investments
- Ownership: 1.24% (approx. 8.9 million shares)
- Role: Asset management firm serving institutional clients
- Influence: Supports financial stability and corporate governance
Northern Trust is a global financial institution with investments across various industries. Its stake in McDonald’s is part of its broader investment strategy. The firm is known for its conservative investment approach, favoring stable, well-established companies.
Wells Fargo & Company
- Ownership: 1.01% (approx. 7.3 million shares)
- Role: Investment and banking services provider
- Influence: Focuses on shareholder returns and business expansion
Wells Fargo, one of the largest banks in the U.S., invests in McDonald’s through its wealth management and investment divisions. It supports policies that drive profitability and maintain strong brand recognition.
Charles Schwab Investment Management, Inc.
- Ownership: 0.79% (approx. 5.7 million shares)
- Role: Investment management firm offering mutual funds and ETFs
- Influence: Ensures financial stability and long-term growth
Charles Schwab manages investment funds that include McDonald’s stock. It focuses on companies with solid financial performance and a strong market presence.
Who Controls McDonald’s?
While McDonald’s is publicly traded and has thousands of shareholders, its control lies in the hands of key decision-makers. These include the Board of Directors, executive leadership, and institutional shareholders who hold significant voting power.
1. The Board of Directors
The Board of Directors plays a crucial role in overseeing McDonald’s corporate strategy, financial performance, and governance. They make major decisions such as approving executive compensation, setting long-term business goals, and ensuring accountability.
McDonald’s Board consists of independent directors and company executives who bring expertise from various industries. The Board is led by:
- Enrique Hernandez Jr. (Chairman) – He has been Chairman of the Board since 2016 and has been a director since 1996. He ensures corporate governance and strategic oversight.
- Chris Kempczinski (President & CEO) – As a member of the Board, he plays a crucial role in executing corporate strategies and overseeing operations.
Other board members include executives from finance, technology, and consumer industries who contribute to decision-making.
2. Executive Leadership Team
McDonald’s executive leadership team is responsible for daily operations, expansion plans, marketing, supply chain management, and franchise development. The team includes:
- Chris Kempczinski (President & CEO) – Leads the company, sets strategic goals, and oversees all global operations. He plays a direct role in McDonald’s long-term vision and growth strategies.
- Ian Borden (Executive VP & CFO) – Manages the company’s finances, including revenue generation, profitability, and investor relations.
- Jo Sempels (President, International Developmental Licensed Markets) – Responsible for international franchise partnerships and growth in emerging markets.
- Marion Gross (Chief Supply Chain Officer) – Oversees McDonald’s supply chain, ensuring smooth operations across global franchises.
- Morgan Flatley (Chief Marketing Officer) – Handles branding, advertising campaigns, and consumer engagement strategies.
These executives report directly to the CEO and Board, ensuring smooth management and execution of company policies.
3. Institutional Shareholders’ Influence
Though McDonald’s operates independently, major institutional shareholders (like Vanguard and BlackRock) influence corporate decisions. These investors hold voting rights in shareholder meetings and can impact board appointments, executive pay, and long-term business strategies.
While they do not control daily operations, they push for policies that maximize profits, ensure sustainability, and maintain shareholder value.
4. Franchise Owners’ Role
McDonald’s operates on a franchise model, meaning individual restaurant owners manage most locations. Over 90% of McDonald’s restaurants worldwide are owned by franchisees.
Although franchisees do not control corporate-level decisions, they have a strong voice in menu changes, pricing strategies, and operational policies. The company collaborates with franchise owners through the National Franchise Leadership Alliance (NFLA) to maintain brand consistency and business growth.
Annual Revenue and Net Worth of McDonald’s
McDonald’s generates billions in annual revenue, making it one of the most profitable fast-food chains in the world. In 2023, McDonald’s reported a revenue of $23.18 billion and a net income of $6.18 billion.
In 2024, McDonald’s reported a revenue of $25.92 billion which is well over the previous year’s revenue.
As of March 2025, McDonald’s net worth stands at $219.28 billion.
The table below presents McDonald’s annual revenue and the corresponding YoY growth rates for the past ten years:
| Year | Annual Revenue (USD Millions) | YoY Growth (%) |
|---|
| 2015 | 25,413 | -7.4 |
| 2016 | 24,622 | -3.1 |
| 2017 | 22,820 | -7.3 |
| 2018 | 21,258 | -6.9 |
| 2019 | 21,364 | 0.5 |
| 2020 | 19,208 | -10.1 |
| 2021 | 23,223 | 20.9 |
| 2022 | 23,183 | -0.2 |
| 2023 | 25,494 | 10.0 |
| 2024 | 25,920 | 1.7 |
McDonald’s Market Share and Competitors
McDonald’s remains the dominant force in the fast-food industry, holding approximately 16.69% of the U.S. fast-food market as of 2024. This makes it the largest player in the sector. However, the market is highly competitive, with several strong rivals offering alternatives that challenge McDonald’s dominance.
Here’s a list of the top McDonald’s competitors in the US:
Starbucks
Starbucks is one of McDonald’s biggest competitors, particularly in the breakfast and beverage segment. With a market share of approximately 7.52% in the U.S. fast-food sector, Starbucks continues to expand aggressively. It has over 40,000 locations worldwide and focuses on coffee-based drinks, teas, and premium snacks.
Over the years, Starbucks has expanded its food menu, directly competing with McDonald’s McCafé line and breakfast offerings. The company’s digital loyalty program and app-based ordering system have also enhanced customer retention, making it a formidable rival.
Yum! Brands (KFC, Pizza Hut, Taco Bell)
Yum! Brands owns several fast-food giants, including KFC, Pizza Hut, and Taco Bell, giving it a diverse presence in the global market. With a market share of approximately 2.82%, Yum! Brands leverages its multi-brand strategy to target different consumer segments.
KFC dominates the fried chicken industry, competing against McDonald’s growing chicken sandwich offerings. Taco Bell provides a Mexican-inspired menu, which McDonald’s does not directly compete with, while Pizza Hut offers pizza and pasta, rivaling McDonald’s limited Italian menu options. The company operates over 55,000 restaurants worldwide, with continued expansion in emerging markets.
Subway
Subway has long been a competitor in the quick-service restaurant industry, focusing on customizable sandwiches and fresh ingredients. It holds a market share of approximately 2.8% and operates around 37,000 locations globally.
Subway has positioned itself as a healthier alternative to traditional fast food, which attracts customers looking for fresh and nutritious meals. While McDonald’s has added salads and wraps to compete, Subway remains a strong player in the sandwich segment. The brand has faced challenges in recent years, but ongoing menu innovations and digital expansion are helping it regain traction.
Burger King
Burger King is one of McDonald’s oldest and most direct competitors in the burger segment. With a market share of approximately 1.16%, it has struggled to keep pace with McDonald’s rapid growth. However, Burger King remains a significant competitor due to its aggressive pricing strategy, flame-grilled burger offerings, and innovative marketing campaigns.
The Whopper continues to be its flagship product, and the company frequently launches limited-time offers to attract customers. As of 2024, Burger King operates over 19,000 locations worldwide, expanding its digital ordering and delivery services to compete more effectively.
Domino’s Pizza
Domino’s Pizza has grown into the world’s largest pizza chain, capturing a market share of approximately 1.57%. Although it does not directly compete with McDonald’s core burger offerings, it rivals McDonald’s in the fast-food delivery space.
It revolutionized pizza delivery with its efficient online ordering system, mobile app, and fast service. With over 20,000 stores globally, Domino’s competes with McDonald’s in terms of convenience and affordability.
The company’s ability to adapt to changing consumer habits, such as prioritizing digital orders, has contributed to its consistent growth.
Mixue Ice Cream & Tea
Mixue Ice Cream & Tea is an emerging competitor that has rapidly gained market share in Asia and beyond. Although exact figures on its market share are unavailable, Mixue has surpassed McDonald’s in store count, operating over 45,000 locations worldwide.
The brand specializes in low-cost ice cream, bubble tea, and coffee, making it a direct competitor to McDonald’s dessert and beverage offerings. Its aggressive expansion strategy in Southeast Asia and China, as well as its potential entry into the U.S. market, poses a new challenge to McDonald’s dominance.
Brands Owned by McDonald’s
McDonald’s directly owns its flagship brand, but in the past, it had stakes in other businesses. Some of these include:
McCafé
Established in 1993 in Melbourne, Australia, McCafé is McDonald’s coffee-house-style food and beverage chain. This concept was introduced to cater to the growing consumer trend towards espresso coffee and café culture. McCafé outlets offer a variety of coffee beverages, teas, pastries, and other food items, providing customers with a café experience within or adjacent to traditional McDonald’s restaurants.
The introduction of McCafé has allowed McDonald’s to compete directly with established coffee chains by offering specialty coffee drinks and an inviting café ambiance.
Arcos Dorados Holdings
Arcos Dorados Holdings is the largest independent McDonald’s franchisee globally, operating McDonald’s restaurants across Latin America and the Caribbean. As of October 2024, Arcos Dorados manages nearly 2,400 restaurants in 20 countries and territories, serving over 4.3 million customers daily.
The company generates revenue through sales from company-operated restaurants and rental income from franchised locations. This structure allows McDonald’s to maintain a significant presence in these regions while leveraging local expertise.
Chipotle Mexican Grill
McDonald’s made a minority investment in Chipotle Mexican Grill in 1998, which grew substantially over the years. By 2006, McDonald’s had divested its stake in Chipotle to focus on its core brand, allowing Chipotle to continue its growth independently.
Boston Market
In 2000, McDonald’s acquired Boston Market, a chain specializing in rotisserie chicken and home-style meals. This acquisition aimed to diversify McDonald’s portfolio and enter the fast-casual dining segment. However, McDonald’s sold Boston Market in 2007 to focus on its primary brand operations.
Pret A Manger
McDonald’s purchased a 33% stake in Pret A Manger, a UK-based sandwich and coffee chain, in 2001. This investment was part of McDonald’s strategy to expand into the fast-casual and health-conscious dining markets. McDonald’s sold its stake in Pret A Manger in 2008 as part of its plan to refocus on the core McDonald’s brand.
Final Thoughts
McDonald’s is a publicly traded company with major institutional shareholders like Vanguard, BlackRock, and State Street Global Advisors. While no single entity owns it outright, these investors hold significant influence. The company remains the largest fast-food chain, generating billions in revenue annually.
Despite strong competition from Starbucks, Burger King, and Wendy’s, McDonald’s continues to lead the industry through innovation, franchising, and global expansion.
FAQs
Who is the biggest shareholder of McDonald’s?
The Vanguard Group, Inc. is the largest shareholder, owning about 9.79% of the company.
Does McDonald’s have a single owner?
No, McDonald’s is publicly traded, meaning it is owned by many institutional and individual shareholders.
Who controls McDonald’s?
The board of directors and executive leadership, led by CEO Chris Kempczinski, control McDonald’s operations and strategic decisions.
How much is McDonald’s worth?
McDonald’s market capitalization exceeds $200 billion, making it one of the most valuable fast-food companies in the world.
Who are McDonald’s main competitors?
McDonald’s main competitors include Starbucks, Burger King, Wendy’s, KFC, and Subway.
What is McDonald’s Owner Country?
McDonald’s Corporation is an American company headquartered in Chicago, Illinois, United States. It was founded in the U.S. and remains a publicly traded American multinational company, with franchises operating in over 100 countries worldwide.
What is McDonald’s Owner Net Worth?
McDonald’s does not have a single owner, as it is a publicly traded company with multiple shareholders. However, as of 2025, McDonald’s Corporation has a net worth of approximately $210 billion, based on its market capitalization. The largest individual shareholder is Vanguard Group, holding billions in McDonald’s stock.
Who Is the Original Owner of McDonald’s?
The original founders of McDonald’s were Richard and Maurice McDonald, who started the first McDonald’s restaurant in San Bernardino, California, in 1940. However, the brand as we know it today was developed by Ray Kroc, who joined the company in 1954, later purchasing the rights and transforming it into a global franchise system.