Todd Wagner | $1B+
Get in touch with Todd Wagner | Todd Wagner is a billionaire entrepreneur and co-founder of Broadcast.com, which he famously sold to Yahoo! for $5.7 billion. As CEO of 2929 Entertainment, he pioneered vertically integrated media and day-and-date film releases. In 2026, his focus centers on "venture philanthropy" through the Todd Wagner Foundation and the Charity Network, a digital platform modernizing global fundraising. He recently launched FoodFight USA, a nonprofit using AI to reform the American food supply and promote regenerative agriculture. Formerly a partial owner of the Dallas Mavericks, he now invests in emerging technologies and sports like Major League Pickleball with the Dallas Flash.
Todd Wagner (born August 2, 1960) is an American entrepreneur, media executive, and philanthropist recognized for pioneering internet audio and video streaming through Broadcast.com and advancing independent film production via 2929 Entertainment.[1][2]
Wagner co-founded Broadcast.com with Mark Cuban in 1995 and served as its CEO, growing it into a leading platform for live event streaming before its acquisition by Yahoo in 1999 for $5.7 billion in stock, which elevated both founders to billionaire status.[3][4]
In 2003, he partnered with Cuban to launch 2929 Entertainment, where he acts as CEO, overseeing production, financing, and distribution through subsidiaries like Magnolia Pictures and 2929 Productions; the company has executive-produced over 50 projects, including the Oscar-nominated documentary Enron: The Smartest Guys in the Room and Good Night, and Good Luck, which earned six Academy Award nominations.[4][2]
Wagner held a minority ownership stake in the NBA's Dallas Mavericks alongside Cuban until selling it in December 2023, and he currently co-owns the Dallas Flash Major League Pickleball team.[3][2]
A graduate of Indiana University with a B.S. and the University of Virginia School of Law with a J.D., Wagner established the Todd Wagner Foundation in 2000 to fund education, technology access, and youth programs for underserved populations, including partnerships with KIPP charter schools and After-School All-Stars; through affiliated ventures like Charity Network, it has raised hundreds of millions for various nonprofits.[2][4]
Early life and education
Upbringing and family influences
Todd Wagner was born around 1960 in Gary, Indiana, a city historically dominated by the steel industry and characterized by a blue-collar working-class population. He has reflected on his upbringing in this environment, noting exposure to the economic decline and urban decay that affected such industrial towns, which shaped his early perspectives on community and opportunity.[5]
Specific details about Wagner's immediate family, parental occupations, or direct familial influences on his development remain undocumented in public records or interviews. His transition from this modest Midwestern setting to higher education at Indiana University suggests a self-motivated drive, though no primary accounts attribute this explicitly to family dynamics or religious upbringing in his youth. Later life indicates his Christian faith developed post-adolescence, with no evidence of formative family religious practices during childhood.
University years and initial career aspirations
Wagner attended Indiana University in Bloomington, graduating in 1983 with a Bachelor of Science degree, majoring in accounting and business.[6][7] During his undergraduate years, he joined the Kappa Sigma fraternity, participating in its activities as a member.[8]
After completing his undergraduate studies, Wagner enrolled at the University of Virginia School of Law, earning a Juris Doctor degree.[3] His initial career aspirations focused on establishing a professional foothold in law, prompting him to relocate to Dallas, Texas, where he became a licensed Certified Public Accountant and began practicing at the national law firm Akin, Gump, Strauss, Hauer & Feld LLP.[9][10] He later moved to another firm, Hopkins & Sutter, continuing in corporate legal roles.[11]
Despite these early steps toward a legal career, Wagner soon determined that the profession did not suit him, describing law school itself as unappealing and finding the work lacking in fulfillment, which set the stage for his eventual pivot to entrepreneurship.[6][12][7]
Business career
Pre-Broadcast.com professional roles
Prior to co-founding Broadcast.com in 1995, Todd Wagner established a career in corporate law, beginning with the national firm Akin, Gump, Strauss, Hauer & Feld after earning his law degree from the University of Virginia.[11] He later joined Hopkins & Sutter, a Chicago-based firm, where he advanced to partner status by approximately 1993, at age 33.[13][14] Wagner maintained his partnership at Hopkins & Sutter until 1995, focusing on corporate transactions that honed his business expertise.[15] His roughly eight-year tenure in corporate law provided foundational experience in deal-making and finance, bridging his legal background to subsequent entrepreneurial pursuits.[14]
Founding and sale of Broadcast.com
In 1995, Todd Wagner co-founded AudioNet with Mark Cuban, establishing an early internet platform for streaming live audio content such as radio stations and sporting events.[16][17] The company targeted the nascent demand for real-time broadcasting over dial-up connections, with Wagner serving as CEO responsible for operational leadership and growth strategy.[18][14]
AudioNet rebranded to Broadcast.com in 1998, expanding to include video streaming amid rising internet adoption, and achieved rapid user growth by aggregating live events like college basketball games and professional radio feeds.[19] The firm went public on July 18, 1998, via an IPO on the NASDAQ, which valued shares highly and positioned Wagner and Cuban as major stakeholders in a booming dot-com sector.[19]
On April 1, 1999, Yahoo announced its acquisition of Broadcast.com for approximately $5.7 billion in stock, marking one of the largest tech deals of the era and instantly elevating Wagner and Cuban to billionaire status.[3][20][21] Wagner continued leading the division at Yahoo until May 2000, during which the service integrated into Yahoo's broader media offerings but later faced challenges from the dot-com bust.[22]
Expansion into entertainment and media
Following the 1999 sale of Broadcast.com to Yahoo for $5.7 billion in stock, Todd Wagner partnered with Mark Cuban to invest in media infrastructure and content ventures, leveraging their experience in digital streaming to enter traditional entertainment sectors.[3] In 2001, they co-founded HDNet with Phil Garvin, launching the world's first high-definition television network dedicated to HD programming across sports, entertainment, and original content, which addressed the emerging demand for superior video quality before widespread adoption of HD standards.[23] This initiative evolved over time, with HDNet rebranding elements into HDNet Movies and eventually contributing to the formation of AXS TV in 2012, a multi-platform network focusing on live events, music, and combat sports, reflecting Wagner's continued emphasis on innovative broadcast delivery.[3]
In 2003, Wagner and Cuban established 2929 Entertainment as a vertically integrated entity to control key stages of the film industry, from development and production through distribution and exhibition, aiming to finance independent projects outside the major Hollywood studio model.[4] Through its 2929 Productions arm, the company developed and produced feature films, emphasizing creative autonomy and alternative financing structures.[24] Wagner, as CEO, drove the adoption of day-and-date release strategies, simultaneously launching films in theaters and on digital/home video platforms to maximize audience reach and revenue in an era of shifting consumer viewing habits.[25]
2929 Entertainment expanded its footprint by acquiring Magnolia Pictures, an independent distributor formed in 2001, which handled theatrical, home entertainment, and digital releases for specialized content including documentaries and foreign films.[26] The group also integrated Landmark Theatres, a historic chain specializing in arthouse and independent cinema, to secure exhibition outlets and support curated programming.[4] These moves enabled 2929 to build a self-sustaining ecosystem, producing award-winning content while challenging conventional release windows and distribution monopolies held by larger studios.[24] By the mid-2000s, this structure had positioned Wagner's media operations as a counterweight to mainstream conglomerates, prioritizing technological integration and independent voices in an industry increasingly dominated by blockbuster franchises.[18]
Investments, sports ownership, and recent ventures
Wagner has pursued a diverse portfolio of investments following the Broadcast.com sale, often in collaboration with Mark Cuban, including stakes in film distributor Magnolia Pictures and cable network AXS TV.[3] He established Roma Fund Investments, LP in 2002 to manage investments across sectors such as media, entertainment, technology, healthcare, and sports, ultimately supporting over 40 private companies.[27] Notable examples include investments in Roar Studios and RYOT in the entertainment space, Realm in broadcasting, and RION, a clinical-stage biotech firm developing regenerative medicine therapies originating from Mayo Clinic research.[28][27] Additional commitments encompass a 2019 post-IPO equity investment in H-CYTE, a healthcare technology company.[29]
In sports ownership, Wagner acquired a minority stake in the NBA's Dallas Mavericks in August 2005 from co-founder Mark Cuban, reflecting their longstanding partnership, and divested it in December 2023 amid the franchise's valuation growth.[30][3] This holding contributed to the team's operations during periods of competitive success, including multiple playoff appearances.
Among recent ventures, Wagner co-founded the Dallas Flash Major League Pickleball team in 2023 alongside Mark Molthan and Mark Cuban, positioning it as owner in the rapidly expanding professional pickleball league.[31] The team has initiated programs like pathways for amateur players to professional levels, announced in March 2025.[32] Wagner maintains active involvement in startup investments, focusing on emerging opportunities in technology and innovation.[18]
Religious and community leadership
Establishment of Watermark Community Church
Todd Wagner co-founded Watermark Community Church on November 7, 1999, in Dallas, Texas, alongside a small group of friends and families dissatisfied with existing church models. The initiative arose from informal gatherings focused on discerning how to embody church life within the local community, commencing with a foundational prayer for guidance.[33][34] This effort was driven by a vision to engage those disconnected from traditional Christianity, including the unchurched, dechurched, dead-churched, and spiritually unmoved, emphasizing relational authenticity over institutional routines.[35][36]
From its inception, Watermark operated without a permanent facility, initially convening in rented spaces such as schools and theaters to prioritize community outreach over infrastructure. Wagner, serving as founding and senior pastor, led the early services, which drew a modest initial attendance reflective of its grassroots origins—reportedly beginning with around eight participants before rapid expansion. The church's doctrinal foundation stressed biblical teaching, personal discipleship, and practical mercy ministries from the outset, setting it apart from more seeker-sensitive models prevalent in the late 1990s evangelical landscape.[36]
Doctrinal emphases and church growth
Watermark Community Church's doctrinal framework aligns with evangelical Christianity, emphasizing the inerrancy and sufficiency of Scripture as the ultimate authority for faith and practice, the Trinity as one God eternally existing in three persons, and the deity of Jesus Christ, including his virgin birth, sinless life, substitutionary atonement, bodily resurrection, and future return.[37] Salvation is viewed as a sovereign act of God received through personal faith in Christ's sacrifice, rejecting works-based righteousness and affirming eternal security for believers.[37] The church holds to a high view of the local church as the body of Christ, comprising regenerate believers committed to mutual edification, discipline, and mission.[38]
Under Todd Wagner's leadership, emphases extended to practical discipleship and sanctification, with teachings stressing biblical manhood, covenantal marriage as reflective of Christ's relationship to the church, and the integration of faith into daily life amid cultural challenges.[39][40] Wagner's sermons often highlighted active obedience over passive belief, including critiques of individualism and calls for community accountability, as seen in series on salvation and spiritual maturity.[41] The church promoted recovery-oriented ministries like re:generation, launched in 2013, which apply gospel principles to address addictions, brokenness, and relational issues through peer-led groups emphasizing confession, repentance, and reliance on Scripture.[42] These elements reflect a Reformed-leaning soteriology, with Wagner publicly clarifying Calvinistic tenets such as divine sovereignty in election while upholding human responsibility in response.[43]
Founded in 1999, Watermark experienced rapid expansion, growing at an average annual rate of 10% through 2018 via multisite services, midweek gatherings, and targeted outreach.[44] By 2023, weekly adult attendance exceeded 6,000, supplemented by thousands in programs like The Porch young adult service and re:generation groups, which proliferated to external locations starting in 2014.[45][42] Physical growth included phased development of its Dallas campus from a retrofitted office building acquired around 2003, culminating in a debt-free 150,000-square-foot facility by the early 2010s, alongside new sites in Plano (announced 2014) and Fort Worth.[46][47] This trajectory positioned Watermark among the fastest-growing U.S. churches during Wagner's tenure, driven by emphases on authentic community and lay-led ministry over professionalized programs.[36]
Leadership challenges, allegations, and resignation
In 2020, Todd Wagner faced mounting allegations of spiritual abuse at Watermark Community Church, primarily documented through accounts from former members on the blog No Eden Elsewhere, which detailed claims of heavy-handed church discipline and covenant enforcement leading to emotional harm.[48][49] These accusations echoed an earlier 2006 controversy involving a member's marital dispute, where Wagner, as senior pastor, was reported to have publicly addressed the husband's alleged affair from the pulpit and, via an elder letter dated April 26, 2006, threatened to distribute details of the infidelity to church contacts unless reconciliation occurred by May 1; Watermark maintained this adhered to its membership covenant and Matthew 18 disciplinary principles, with courts dismissing a temporary restraining order against the church on May 5, 2006.[50]
On September 6, 2020, Wagner announced a leave of absence from his roles as senior pastor and elder to confront issues of "pace and pride," explicitly denying any "disqualifying sin" such as sexual immorality, financial impropriety, or profane language, while affirming the church's elders continued to support his character.[48][49] He returned to ministry in January 2021, but internal tensions persisted, as evidenced by elder David Leventhal's resignation on March 26, 2021, which he attributed to "an erosion of trust" in Wagner's capacity to lead as senior pastor and elder following extensive deliberations.[51][48]
Wagner submitted his resignation on April 17, 2021, which the elders accepted that day, framing it as a mutual recognition after over a year of personal discernment with family and advisors that he required rest, recovery, and a leadership transition to sustain the church's mission.[51][49] The church leadership update emphasized no malice or division, portraying the departures—including Leventhal's—as part of God's sovereign process amid a "challenging season," while urging members to avoid speculation and focus on unity; Wagner later ceased holding the honorary title of Elder Emeritus by June 4, 2021.[51] Critics, including outlets tracking church accountability, linked the resignations directly to unresolved spiritual abuse claims eroding elder confidence, though Watermark did not publicly concede to such characterizations.[48][49]
Philanthropy and public advocacy
Todd Wagner Foundation and early giving
The Todd Wagner Foundation was established in 2000 as a private grantmaking entity dedicated to venture philanthropy, emphasizing innovative investments in programs for at-risk children and underserved communities.[2][52] Following the 1999 sale of Broadcast.com to Yahoo, Wagner directed proceeds toward philanthropy rather than immediate business pursuits, focusing initial efforts on empowering disadvantaged youth through education and skill-building initiatives.[5][53]
Early giving prioritized scalable interventions in North Texas, including the 2003 partnership with the Knowledge Is Power Program (KIPP) to establish the region's first college-preparatory public charter school, KIPP TRUTH Academy, in Dallas's Oak Cliff neighborhood.[10][27] The foundation also introduced After-School All-Stars programs to the area, providing structured after-school activities to promote academic proficiency, technology skills, discipline, and work ethic among participants.[2][18] These efforts aligned with a broader commitment to invest tens of millions of dollars in cutting-edge youth development, yielding support for thousands of individuals by fostering entrepreneurial principles in underserved settings.[54]
By the mid-2000s, the foundation extended backing to national organizations such as Boys & Girls Clubs of America and First Tee, targeting holistic enrichment for children facing socioeconomic barriers.[18][25] This phase of giving, primarily directed toward U.S. children's charities, cumulatively pledged approximately $50 million, reflecting Wagner's hands-on approach of funding under-resourced schools and community programs to drive measurable outcomes in education and personal development.[55]
Launch of FoodFight USA and food system critiques
In 2023, Todd Wagner co-founded FoodFight USA with producer Lori McCreary, establishing it as a nonprofit, nonpartisan organization dedicated to reforming the U.S. food system from farm to table.[56][27] The initiative seeks to address what Wagner describes as a "tainted food supply" by advocating for state and federal legislation to eliminate food companies' self-regulation, empowering consumers with transparent labeling and informed choices, and partnering with farmers to promote healthier, sustainable production methods.[57][56]
Wagner's critiques center on the proliferation of ultra-processed foods and synthetic additives, which he argues have been enabled by lax oversight, such as the FDA's Generally Recognized as Safe (GRAS) loophole allowing companies to self-certify ingredients without pre-market review.[58][59] He contends that these practices have contributed to an epidemic of chronic diseases and premature deaths, transforming the American diet into one laden with addictive, health-damaging elements over the past 50 to 60 years.[58] In a 2024 interview, Wagner stated, "This is an indictment of the food companies that have tainted our food supply, and now we wake up 50, 60 years later with a nation that is unhealthy," emphasizing the need for public outrage to drive systemic change.[58]
FoodFight USA's early efforts included lobbying for reforms, such as supporting California's 2023 law banning four specific food additives linked to health risks in children, and urging the FDA in September 2024 to close the GRAS exemption alongside consumer advocates and lawmakers.[58][59] The organization gained public visibility through an impact campaign tied to the March 2024 release of the documentary Food, Inc. 2, with Wagner introducing the initiative at its Washington, D.C., premiere on July 11, 2024.[60][61] Wagner has contrasted the U.S. system with stricter European standards, highlighting discrepancies in allowable chemicals and processing that disadvantage American consumers.[62]
Broader social and policy engagements
Wagner has advocated for education reforms emphasizing charter schools and alternative programs for at-risk youth, supporting the expansion of KIPP charter schools in North Texas, which serve nearly 80,000 students nationwide from underserved communities with high college attendance rates among graduates.[56] His foundation facilitated the introduction of KIPP and After-School All-Stars to the region, aligning with policies promoting school choice over traditional public systems to address achievement gaps.[2] In a 2013 interview, Wagner proposed merging education and economic policies to enhance U.S. competitiveness, arguing that workforce development requires integrated incentives for innovation and skill-building rather than siloed approaches.[63]
Through Watermark Community Church, Wagner has encouraged faith-based civic participation, preaching on biblical principles for engaging government, such as submitting to authority while prioritizing eternal values over partisan loyalty.[64] In public discussions, he has urged Christians to influence policy on family, morality, and justice without compromising doctrinal convictions, as seen in 2019 forums linking faith to voting and cultural stewardship.[65] This reflects a worldview rejecting secular neutrality in policy, favoring interventions rooted in religious ethics over progressive frameworks.
Wagner has critiqued socialism as incompatible with human incentives, advocating reformed capitalism that curbs greed while preserving market freedoms, as stated in a 2023 social media post emphasizing fixes to systemic self-interest without equal-outcome mandates. His engagements extend to health policy beyond food systems, supporting state-level initiatives for regulatory changes to promote public wellness, highlighting states' authority to counter federal overreach.[66] These positions underscore a preference for decentralized, value-driven governance over centralized control.
Personal life and worldview
Family and personal relationships
Todd Wagner is married to Alex Wagner, and the couple has six children.[67] [36] They reside in Dallas, Texas, where Wagner has emphasized the centrality of family in his life, describing his home as his proudest accomplishment and noting that his children maintain strong bonds, share a commitment to Christian faith, and regard each other as best friends.[67] The family has at least one grandchild.[36]
Wagner has publicly discussed family leadership dynamics, including in a 2018 Watermark Community Church resource where he appeared alongside two of his children, Cooper and Kirby, to address parenting and relational roles within the household.[68] His personal relationships are deeply intertwined with his evangelical worldview, as evidenced by joint family involvement in church activities and Wagner's teachings on marriage and parenting as reflections of biblical principles.[69] No public records indicate marital dissolution or significant familial estrangements.[67]
Political involvement and faith-integrated perspectives
Wagner advocates for robust Christian engagement in politics as a biblical mandate, asserting that believers must actively participate to promote righteousness and community welfare, drawing from Jeremiah 29:7's call to seek the city's good. He deems political disengagement "inexcusable," urging informed voting for leaders exhibiting integrity and a servant's mindset while addressing local issues to lessen government dependency, as exemplified by his church's initiatives like the Watermark Clinic, which reportedly offset $10 million in public costs for Dallas.[70][71]
In integrating faith with civic duties, Wagner applies scriptural standards to evaluate candidates and policies, emphasizing that no leader is a savior—hope resides in Christ alone—and rejecting support for those defying God's design, such as on human dignity from conception or marriage's definition.[71][72] He frames voting as stewardship under divine sovereignty, advising against perfect-candidate illusions (per Romans 3:23) but for principled choices, even third-party options, as with historical figures like Abraham Lincoln, prioritizing alignment with Micah 6:8's justice and humility over partisan loyalty.[71] This perspective extends to issues like immigration, balancing compassion with borders via Micah 6:8.[73]
Regarding elections, Wagner has addressed dilemmas like the 2016 presidential race, stating Christians need not choose between Donald Trump and Hillary Clinton, critiquing a vote for Clinton while suggesting write-ins or alternatives, and later calling for prayer for Trump post-election.[74][75] He reinforces consistent participation, as in 2024 exhortations for believers to vote amid national challenges, viewing it as essential for stewarding influence without fear of outcomes.[76
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