FaZe Banks
Co-founder of the expanded FaZe Clan and CEO who steered the organization through public listing and restructuring.
Richard "Banks" Bengtson is a central executive figure of FaZe Clan who joined as a co-founder of the expanded organization, alongside original founders FaZe Housecat, FaZe Kross, and FaZe Apex. Starting as COO alongside CEO Thomas "Temperrr" Oliveira, he helped create the first shared home in Los Angeles in 2014 before moving operations to the Clout House in February 2017. In September 2023, prior to the closing of GameSquare's acquisition of FaZe Holdings, Bengtson was appointed CEO. He subsequently led the formation of FaZe Media on May 14, 2024, spinning off the entertainment division while retaining full ownership of esports assets under FaZe Esports. After acquiring a 25.5% stake in FaZe Media on June 19, 2024, he continues to serve as CEO, steering the organization through its next chapter.
- Affiliation
- FaZe Clan Organization
- Role
- CEO, COO, Co-founder (of the expanded organization)
- Nature
- Corporate Executive Leadership
- Status
- Active (as of current records)
Verified Timeline
Lore & Background
Bengtson's influence spans from the clan's trickshotting roots to its status as a publicly traded entity. He joined the original founding trio—FaZe Housecat, FaZe Kross, and FaZe Apex—as a co-founder of the expanded organization, helping pivot the brand toward personality-driven content. In 2014, he and Oliveira established the first FaZe shared home in Los Angeles, fostering lifestyle content alongside gaming. By 2017, he relocated to launch the Clout House, a hub for YouTubers that became synonymous with the brand's expansion. His tenure saw FaZe navigate complex financial waters, including a merger with B. Riley Principal 150 Merger Corp. (a SPAC) in 2022 and a subsequent stock delisting risk in early 2023. As CEO during the GameSquare acquisition in September 2023, he restructured the company into distinct esports and media entities, securing $11 million in investment from Matt Kalish for FaZe Media.
In Their Own Story
The path to leadership was paved with strategic moves and high-stakes decisions. In January 2016, Bengtson oversaw the acquisition of G2 Esports's Counter-Strike lineup, which secured second place at the ELEAGUE Major: Boston 2018. As the organization grew, he managed a roster that included musicians like Ray J and athletes like Ben Simmons. By February 2023, facing stock prices as low as $0.76, he laid off 20% of staff to ensure financial discipline. Following his appointment as CEO in October 2023, he executed a major reboot on April 27, 2024, reducing the content creator roster to fourteen members. On May 14, 2024, he officially launched FaZe Media, aiming to build a creator-led internet media company. However, the venture faced turbulence; on July 28, 2025, Bengtson stepped down amid accusations of scamming fans through the MLG meme coin. Days later, key creators like Adapt and JasonTheWeen departed, leading to the closure of FaZe Media by December 25, 2025.
Reader's Guide
Bengtson's operational approach centered on restructuring and resource allocation during periods of intense change. He utilized his position to spin off assets, separating esports competition holdings from entertainment ventures. During the 2023 delisting crisis, he focused on financial discipline after reporting a 25% revenue increase from 2021 to 2022 despite losses. In 2024, he leveraged investor Matt Kalish's $11 million to fund FaZe Media, securing a 49% stake for the investor while retaining control. His strategy involved hard decisions, such as the April 2024 roster reduction and the eventual dissolution of the media arm in December 2025 when creator disputes over contracts and revenue splits with HardScope became untenable.
Did You Know?
- Bengtson and CEO Thomas "Temperrr" Oliveira created the first FaZe shared home in Los Angeles in 2014.
- In February 2017, Bengtson moved to Los Angeles to start the Clout House with YouTubers.
- On June 19, 2024, Bengtson acquired a 25.5% stake in FaZe Media from GameSquare.
- In April 2024, Bengtson reduced the content creator roster in an effort to reboot the organization.
Frequently Asked Questions
Who or what represents FaZe Banks in this lore?
Within the organization's ecosystem, it stands as a conceptual asset representing foundational economic stability rather than a physical person. This entity is revered by fans as the unseen power source sustaining global operations.
What specific role does FaZe Banks fulfill for the clan?
Its primary duty involves financial and operational support that fuels content creation and esports teams. Essentially, it acts as the resource hub necessary to keep merchandise lines and competitive divisions running smoothly.
Is FaZe Banks a tangible object you can hold?
No, this entity exists as an abstract resource hub rather than a tangible item you can physically hold. It functions conceptually to manage resources across the expansive ecosystem of entertainment.
Why do fans consider FaZe Banks important to the organization?
It serves as the unseen engine powering the empire by ensuring economic stability for all branches. Without this resource management, sustaining global content and team operations would be significantly more difficult.
What is the current status of the FaZe Banks artifact?
The asset remains active and continues to provide essential support within the clan's infrastructure. It is currently viewed as a vital component for maintaining ongoing ventures in esports and entertainment.
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