Yes. Volkswagen AG holds the majority of Porsche AG, the sports-car maker. Porsche AG’s voting (ordinary) shares are held only by Volkswagen AG and Porsche SE, which bought 25% plus one share of them at the 2022 IPO; Volkswagen holds the rest and, as far as Porsche AG knows, most of the listed non-voting preference shares. The twist: Porsche SE, owned by the Porsche and PiΓ«ch families, also controls Volkswagen AG with 53.3% of its votes.
Correction (10 Oct 2026): an earlier version of this page listed T. Rowe Price, the Qatar Investment Authority and ADQ with exact percentages and an undated market cap, none of them sourced. Ownership now follows Porsche AGβs investor-relations disclosure (31 Dec 2025) and Porsche SEβs 2022 announcement.
How we source: figures on this page come from the company’s own filings (SEC 10-K, 10-Q, prospectus and earnings releases, or its annual report), with the period stated next to each number; outside estimates appear only labelled, with their source and date. Last refreshed October 2026. Our methodology.
Yes, Volkswagen AG owns the majority of Dr. Ing. h.c. F. Porsche AG, the company that builds Porsche cars. Porsche AG has 911 million shares, split evenly into 455.5 million unlisted ordinary shares, which carry the votes, and 455.5 million listed preference shares, which do not (Porsche AG). The ordinary shares are held only by Volkswagen AG and Porsche SE.
At the September 2022 IPO, Porsche SE bought 25% plus one share of the ordinary shares from Volkswagen (Porsche SE), a blocking minority under German law. Volkswagen kept the rest of the voting shares and, according to Porsche AG, still holds the majority of the preference shares; the others are spread among institutional and private investors.
Who owns Porsche SE, and why that matters
Porsche SE is a separate, listed holding company. Its voting shares are held exclusively by members of the Porsche and PiΓ«ch families (Porsche SE), and it holds 53.3% of the votes in Volkswagen AG (VW AR 2025). So the families control VW, which owns most of Porsche AG, and they also hold a direct 25%-plus-one stake in Porsche AG through Porsche SE.
Porsche AG becomes part of the Volkswagen Group; Porsche SE keeps its VW stake.
Sep 2022
Porsche AG IPO
Preference shares listed in Frankfurt; Porsche SE buys 25% + 1 of the ordinary shares (Porsche SE).
The Business Engineer view
A circle of control
The structure is circular by design. The families keep control of the whole group through Porsche SE, Volkswagen keeps Porsche AG’s profits inside the group, and outside investors get economic exposure through non-voting preference shares. The 2022 IPO raised money and put a market price on Porsche AG without changing who decides.
For investors, that means Porsche AG’s strategy is ultimately Volkswagen’s and the families’ strategy. For the brand, it means stability: no outsider can take control of Porsche without the families’ agreement.
What to watch
Any sale of Porsche AG shares by Volkswagen
Porsche SE’s stakes and debt (it holds both VW and Porsche AG)
Porsche AG’s index membership and free float
Frequently asked questions
Does Volkswagen own Porsche?
Yes. Volkswagen AG holds the majority of Porsche AG: the voting ordinary shares not held by Porsche SE, plus most of the listed preference shares (Porsche AG investor relations, 31 December 2025).
Who owns Porsche AG?
Volkswagen AG and Porsche SE hold all of the voting ordinary shares; Porsche SE has 25% plus one share. The non-voting preference shares are mostly held by Volkswagen AG, with the rest held by investors.
Is Porsche SE the same as Porsche AG?
No. Porsche AG builds the cars. Porsche SE is a listed holding company owned (in its voting shares) by the Porsche and PiΓ«ch families; it controls Volkswagen AG and holds 25% plus one of Porsche AG’s voting shares.
Who controls Volkswagen?
Porsche SE, with 53.3% of the voting rights in VW’s ordinary shares at the end of 2025 (Volkswagen Annual Report 2025).
When did Porsche go public?
Porsche AG listed its preference shares in Frankfurt in September 2022.
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur, HackerNoon and Search Engine People. Find him on LinkedIn and Substack. See how we source.
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