Dana White bought and sold the UFC, making over $350M in the process.
The craziest part? He did it without investing any money.
This is his wild story.
Time for a thread πππ
The craziest part? He did it without investing any money.
This is his wild story.
Time for a thread πππ
1) Dana White, a two time college drop out, has always been obsessed with the "fight game."
At 19, White decided to chase his dreams - walking out of a salaried job at a Boston casino.
With nothing to lose, White told his best friend "I'm gonna get into the fight business."
At 19, White decided to chase his dreams - walking out of a salaried job at a Boston casino.
With nothing to lose, White told his best friend "I'm gonna get into the fight business."
2) After leaving his casino job, Dana White cold-called local boxing legend Peter Welch.
He begged Welch to teach him everything he knows about the fight business.
Without ever earning a dollar, White spent the next 3 years learning from a legend.
This is where it gets crazy.
He begged Welch to teach him everything he knows about the fight business.
Without ever earning a dollar, White spent the next 3 years learning from a legend.
This is where it gets crazy.
3) One afternoon Dana White received a call from Whitey Bulger and the Irish Mob, demanding he pay them a $2,500 debt by Sunday.
"I didn't have it...$2,500 was like $25,000 to me at the time"
Knowing he couldn't pay, White skipped town - buying a one-way ticket to Las Vegas.
"I didn't have it...$2,500 was like $25,000 to me at the time"
Knowing he couldn't pay, White skipped town - buying a one-way ticket to Las Vegas.
4) In Las Vegas, Dana White made the transition from Boxing to MMA - falling in love with the sport immediately.
White would go on to manage superstar fighters like Tito Ortiz and Chuck Liddell.
The only problem?
UFC fighters didn't make any money, leaving White wanting more.
White would go on to manage superstar fighters like Tito Ortiz and Chuck Liddell.
The only problem?
UFC fighters didn't make any money, leaving White wanting more.
5) During a tense negotiation with former UFC owner Bob Meyrowitz, Dana White sensed an opportunity.
Meyrowitz frustratingly said, "There is no more money, I don't even know if I have enough money to put on one more event"
White immediately called up Frank & Lorenzo Fertitta.
Meyrowitz frustratingly said, "There is no more money, I don't even know if I have enough money to put on one more event"
White immediately called up Frank & Lorenzo Fertitta.
6) Within weeks, Dana White and the Fertitta brothers presented a $2M offer to buy the UFC.
The catch?
In an effort to avoid bankruptcy, the UFC had already sold off all its assets - even it's website domain.
The trio would start from scratch, only receiving the "UFC" name.
The catch?
In an effort to avoid bankruptcy, the UFC had already sold off all its assets - even it's website domain.
The trio would start from scratch, only receiving the "UFC" name.
7) As part of the deal to purchase the UFC, the Fertitta brothers agreed to fund the $2M purchase price.
Dana white was named President of the operation, given a 9% equity stake in return.
With skin in the game, and financially incentivized partners, White got to work.
Dana white was named President of the operation, given a 9% equity stake in return.
With skin in the game, and financially incentivized partners, White got to work.
8) Over the course of the next 15 years, Dana White built the UFC into a global juggernaut.
How'd he do it?
White was laser focused on two things:
1. Popularizing the concept of caged fighting
2. Attracting fighters with personality
Once accomplished, others took notice...
How'd he do it?
White was laser focused on two things:
1. Popularizing the concept of caged fighting
2. Attracting fighters with personality
Once accomplished, others took notice...
9) In 2016, with the UFC doing over $600M in revenue, Ari Emanuel's WME-IMG came calling.
They offered over $4 billion dollars for the UFC.
After accepting the offer, the Fertitta brothers made billions, and Dana White personally took home $360M.
Not bad for a college dropout.
They offered over $4 billion dollars for the UFC.
After accepting the offer, the Fertitta brothers made billions, and Dana White personally took home $360M.
Not bad for a college dropout.
10) How important is equity in a business?
Conor Mcgregor, the most popular fighter in UFC history, has a net worth of $140M.
So what?
Dana White, by owning 9% of the business, built a net worth 4x greater, over $500M - without ever taking a punch.
Conor Mcgregor, the most popular fighter in UFC history, has a net worth of $140M.
So what?
Dana White, by owning 9% of the business, built a net worth 4x greater, over $500M - without ever taking a punch.
11) People will undoubtedly say it was luck, but Dana White is the perfect example of pursuing your dreams and stopping at nothing to achieve them.
Regardless of what you think about him, Dana White went from a college dropout to a $500M net worth.
That's incredibly impressive.
Regardless of what you think about him, Dana White went from a college dropout to a $500M net worth.
That's incredibly impressive.
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huddleup.substack.com
1. Follow me, I tweet cool stories like this everyday.
2. Subscribe to my free daily newsletter where I give detailed analysis on topics involving the money and business behind sports.
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