Who Owns Celsius?

Celsius Holdings Inc. ownership structure centers on Carl DeSantis, who maintains the controlling interest with a 41.87% stake as the largest individual shareholder. The functional beverage company operates under a diversified ownership model that includes significant institutional investment, strategic corporate partnerships, and founding family control.

The company reported revenue of $1.36 billion in 2024, representing a 3% year-over-year increase, while capturing an 11.8% share of the U.S. energy drink market by December 29, 2024. Trading on Nasdaq, Celsius has attracted substantial institutional backing alongside its insider ownership concentration. In February 2025, the company announced a definitive agreement to acquire Alani Nutrition LLC for $1.8 billion, with the transaction expected to close in the second quarter of 2025.

Who Owns Celsius Holdings?

The ownership of Celsius reflects a strategic blend of founding family control, institutional investment, and corporate partnership. This structure emerged through the company’s evolution from a small startup in 2004 to a publicly traded entity generating over $1 billion in annual revenue.

Public Trading Status

Celsius Holdings became a publicly traded company on Nasdaq in 2017, fundamentally transforming its ownership landscape. The public listing opened investment opportunities to institutional and retail investors while maintaining concentrated insider control through the DeSantis family holdings.

Primary Ownership Categories

Three distinct ownership groups define the Celsius capital structure. Institutional investors hold the majority at 57.49% of shares as of April 2025. Individual insiders, primarily the DeSantis family members, collectively control approximately 49.6% of voting power. The remaining shares trade among retail investors through public markets.

Largest Shareholders of Celsius

The shareholder composition of Celsius Holdings reveals concentrated ownership among institutional investors and founding family members. As of August 20, 2025, the company had 992 institutional owners collectively holding 209,880,516 shares, representing the dominant force in corporate governance and strategic direction.

Carl DeSantis and Family Holdings

Carl DeSantis stands as the most influential individual shareholder, controlling 107.92 million shares or 41.87% of the company. This substantial stake traces back to his early support of Celsius, including a critical $3 million credit line provided in 2010 during challenging growth phases. The DeSantis family extends this influence through additional holdings held by William H. Milmoe at 21.66%, Dean DeSantis at 14.33%, and Deborah DeSantis at 12.97%. Another significant insider, Hoi Shuen Solina Holly Chau, holds 9.06% of shares.

Institutional Investment Leaders

Among institutional shareholders, Alliancebernstein L.p. leads with 18,662,921 shares as of June 30, 2025. The Vanguard Group follows closely with 17,328,816 shares, while BlackRock Inc. holds 15,302,742 shares. State Street Corp., Morgan Stanley, and Citigroup Inc. maintain significant positions as well, though their exact share counts fluctuate with market conditions and investment strategies.

Strategic Corporate Partnership

PepsiCo’s strategic investment in 2022 marked a watershed moment for Celsius ownership structure. The beverage giant invested $550 million to acquire approximately 8.5% of the company, establishing itself as both a significant shareholder and distribution partner. This partnership extended Celsius’s market reach while providing substantial capital for expansion initiatives.

Recent Shareholder Activity

The second quarter of 2025 witnessed notable shifts in institutional holdings. Vanguard Group increased its position by 2,683,596 shares, representing an 18.3% expansion. Conversely, Morgan Stanley reduced its stake by 2,590,280 shares, a 36.7% decrease, while Norges Bank dramatically cut holdings by 2,469,650 shares, an 89.6% reduction. These movements reflect ongoing portfolio rebalancing among major institutional investors.

Board of Directors at Celsius Holdings

The Celsius Holdings board composition reflects a balance between operational leadership, independent oversight, and strategic investor representation. The nine-member board brings diverse expertise across consumer goods, finance, and business development to guide company strategy and governance.

Executive Leadership

John Fieldly serves triple duty as President, Chairman, and Chief Executive Officer, maintaining direct operational control while guiding board deliberations. As one of the original co-founders, Fieldly’s role connects the company’s founding vision with its current market position. His leadership spans the transformation from a struggling startup to a billion-dollar public company competing in the energy drink sector alongside established players like Red Bull.

Independent Directors

Hal Kravitz holds the position of Independent Lead Director, providing oversight separate from management operations. Cheryl S. Miller and Caroline Levy contribute independent perspectives on corporate governance and strategic planning. Joyce Russell and Nick Castaldo round out the independent director contingent, bringing varied business experience to board discussions and committee work.

Strategic Investor Representatives

Israel Kontorovsky joined the board in October 2024 as PepsiCo’s nominee, replacing Jim Lee who resigned in September 2024. This appointment ensures PepsiCo’s strategic investment interests receive direct board representation, reflecting the importance of the distribution partnership to Celsius’s growth strategy.

Family Representation

Damon DeSantis serves on the board, maintaining the founding family’s direct involvement in corporate governance alongside Carl DeSantis’s substantial shareholdings. This family presence ensures continuity with the company’s foundational values while adapting to public company governance requirements.

Recent Board Additions

Hans Melotte joined the board in September 2024, bringing significant consumer goods industry experience from his previous roles. His appointment strengthened the board’s expertise in scaling branded consumer products across international markets, aligning with Celsius’s global expansion objectives.

History of Celsius Co-founders

The founding story of Celsius Holdings traces back to April 2004 when the company launched as Elite FX Inc. The entrepreneurial team included Steve Haley, Janica Lane, and John Fieldly, with some accounts also crediting Greg Horn and Irina Lorenzi as co-founders.

Initial Capital and Vision

The founding team secured approximately $2.5 million in initial capital through a combination of private investors, angel investors, and private placements. This funding fueled research and development of the company’s distinctive thermogenic formula, which differentiated Celsius from conventional energy drinks by emphasizing metabolism-boosting properties alongside energy enhancement.

Early Leadership Structure

Steve Haley played a pivotal role as co-founder and chief executive of Elite FX Inc., guiding the company through its formative years. The early ownership structure concentrated among founding team members and initial private investors who believed in the functional beverage concept. This tight ownership group maintained control while developing the product and establishing initial market presence.

Critical Early Support

Carl DeSantis emerged as a crucial early backer, providing not just capital but advisory support during challenging periods. His $3 million credit line in 2010 funded advertising campaigns for new product launches at a critical juncture when the company struggled to meet business objectives. DeSantis also assisted with leadership transitions in 2012, demonstrating commitment beyond financial investment to operational success.

FAQs

Who is the largest shareholder of Celsius?

Carl DeSantis holds the largest stake with 107.92 million shares representing 41.87% of Celsius Holdings, making him the controlling shareholder and most influential individual investor in the company.

When did Celsius become a public company?

Celsius Holdings became publicly traded on Nasdaq in 2017, transitioning from private ownership to public markets and enabling institutional and retail investors to purchase shares through standard brokerage channels.

What percentage does PepsiCo own of Celsius?

PepsiCo owns approximately 8.5% of Celsius Holdings following its $550 million strategic investment in 2022, establishing a significant minority stake alongside the distribution partnership between the two beverage companies.

How much of Celsius do institutional investors own?

Institutional investors collectively hold 57.49% of Celsius Holdings shares as of April 2025, with 992 institutional owners controlling over 209 million shares across various investment funds and asset managers.

Who founded Celsius Holdings?