Liberty Media announces leadership shake-up ahead of 2026

Formula 1’s owner Liberty Media has confirmed a major boardroom change, with long-time chairman John C. Malone set to step down at the end of 2025.

The 84-year-old billionaire, who founded Liberty and oversaw its purchase of Formula 1 in 2017, will become Chairman Emeritus from January 1, 2026, the company said in an official statement.

He will be replaced by Robert R. “Dob” Bennett, Liberty’s current vice chairman and one of its original executives, who has been involved in the group’s key strategic moves for more than 30 years.

“Founding Liberty Media and serving as its Chairman has been among the most rewarding experiences of my professional life,” Malone said. “With our portfolio simplified and our businesses in strong positions, I believe it’s the right time to step back.”

Malone will remain an influential figure, holding nearly 50 percent of Liberty’s Formula 1 voting stock.

According to Bloomberg, his net worth exceeds $10bn.