Who owns Formula 1?

The Formula 1Formula 1 is the pinnacle of open-wheel,  single-seater car racing and arguably the highest level of any motorsport globally. Also... There's more... brand and commercial rights are owned by Formula One GroupThe Formula One Group is a subsidiary of Liberty Media and it owns the commercial rights for the promotion of... There's more..., a full owned subsidiary of Liberty MediaLiberty Media are an investment company that owns Formula One Group which in turn owns the commercial rights to Formula... There's more... and represented by Stefano DomenicaliStefano Domenicali is the CEO of Formula One Group, having replaced Chase Carey at the start of the 2021 season.... There's more.... 

Profits generated by running the event are divided between the shareholders of Formula OneFormula One is the pinnacle of open wheel,  single seater car racing and arguably the highest level of any motorsport... There's more... Group and the teams. The latter being a pointsFormula 1 runs two competitions over the course of the season, the Constructor's title and the Driver's title. Points are... There's more... weighted prize system. 

Of course the exact structure of the companies and their various shareholdings is more complicated than this, but for the average armchair fan, this is the basic structure.