McGraw Hill is one of the most recognized names in education. Billions of students across America and beyond have studied from its textbooks, taken its digital courses, and used its platforms to prepare for exams.
But for most of the last decade, the company was invisible to ordinary investors — locked away inside private equity portfolios, away from public scrutiny. That changed in July 2025, when McGraw Hill returned to the stock market for the first time in 13 years. And yet, even as a public company, one firm still calls almost every shot.
Who Owns McGraw Hill Right Now in 2026?
McGraw Hill (NYSE: MH) is a publicly traded company, but ownership and control are two very different things here. As of June 4, 2026, investment vehicles affiliated with Platinum Equity, LLC own approximately 86.4% of McGraw Hill’s common stock and hold approximately 86.4% of all voting power.
That makes McGraw Hill what the NYSE officially classifies as a “controlled company” — a public business where one shareholder holds enough votes to control board elections, executive appointments, and every major strategic decision.
Platinum Equity is a Beverly Hills, California-based private equity firm founded in 1995 by billionaire Tom Gores. It acquired McGraw Hill in August 2021 for $4.5 billion and has retained dominant control ever since, even after the 2025 IPO. Public shareholders who buy MH stock on the New York Stock Exchange own a piece of the company economically — but Platinum Equity continues to run it.
Ownership and Key Stakeholders Table
| Owner / Party | Role | Stake | Key Detail |
|---|---|---|---|
| Platinum Equity, LLC | Controlling Majority Owner | ~86.4% of common stock & voting power | Founded by Tom Gores in 1995; acquired McGraw Hill for $4.5B in August 2021 |
| Public Shareholders (NYSE: MH) | Minority Economic Owners | ~13.6% of shares | IPO raised $415M in July 2025 at $17 per share; anyone can buy MH on NYSE |
| Philip Moyer | President & CEO | Minimal insider stake | Former Vimeo CEO; became McGraw Hill CEO on February 9, 2026 |
| Simon Allen | Chairman of the Board | Minimal insider stake | Former CEO (Oct 2019–Feb 2026); remains Chairman after retirement from CEO role |
| Tom Gores | Founder of Platinum Equity | Controls via Platinum | Billionaire founder; Platinum has $25B+ in assets under management |
| Apollo Global Management | Previous Owner | Fully exited in 2021 | Owned McGraw Hill from 2013 to 2021; sold to Platinum for $4.5B |
| Goldman Sachs | IPO Lead Underwriter | No equity | Led the July 2025 IPO bookrunning; no ongoing ownership stake |
The Origin Story: A Railway Journal in 1888
McGraw Hill did not begin as a textbook publisher. It began as a trade press operation built by two men working independently — until their paths eventually merged.
James H. McGraw bought his first publication in 1888 — a journal serving the railway industry. Over the following decade, he acquired more trade journals covering industries from electricity to engineering. Meanwhile, John A. Hill was building a parallel portfolio of technical publications. The two men merged their companies in 1917, forming McGraw-Hill Publishing Company — and the name that has defined educational publishing for more than a century was born.
Over the following decades, McGraw-Hill expanded aggressively, acquiring textbook publishers, scientific journals, and broadcasting companies. It became one of the largest and most diversified media companies in America — eventually separating into McGraw-Hill Education (the books and learning division) and what became S&P Global (the financial data business). The education division — which is today’s McGraw Hill — has changed hands twice since then, each time landing in the hands of a major private equity firm.
Apollo Buys, Then Sells: The $2.4 Billion to $4.5 Billion Journey
In March 2013, Apollo Global Management bought McGraw-Hill Education from The McGraw-Hill Companies — the original parent conglomerate — for $2.4 billion. At the time, the education division was seen as a struggling print publisher facing the existential challenge of the digital age. Apollo bought it cheap and spent years overhauling it.
Under Apollo’s ownership, the company invested heavily in digital course materials, adaptive learning software, and platform-based delivery. Apollo attempted an IPO for McGraw Hill in 2015 but ultimately withdrew the filing when market conditions were unfavorable.
By 2021, the business had been transformed enough that Platinum Equity was willing to pay $4.5 billion — nearly double what Apollo had paid — to acquire it. That deal closed on August 2, 2021, and Platinum has owned and controlled McGraw Hill ever since.
The 2025 IPO: Back on the NYSE After 13 Years
On July 24, 2025, McGraw Hill made its return to the public markets — listing on the New York Stock Exchange under the ticker symbol MH. The IPO priced at $17.00 per share, raising approximately $415 million by selling 24.39 million shares. The pricing came in below the initial marketed range of $19–$22, giving the company a valuation of approximately $3.25 billion at launch.
Goldman Sachs served as the lead underwriter for the offering. Platinum Equity did not sell any of its shares in the IPO — meaning the $415 million raised went directly to fund the company’s operations, not to the existing owner cashing out. Following the offering, Platinum retained an 84.6–86.4% controlling stake, leaving public investors with a meaningful economic interest but virtually no voting power over the company’s direction.
CEO Simon Allen called it an important milestone: “Platinum Equity has helped accelerate our evolution into a leading global provider of information solutions for education, providing data-driven and AI-powered insights that transform the learning experience.”
New CEO in 2026: Philip Moyer Takes the Wheel
One of the most significant developments at McGraw Hill in 2026 is a leadership change that came directly from Platinum Equity’s broader vision for the company.
On February 9, 2026, Philip Moyer became McGraw Hill’s new President and CEO, succeeding Simon Allen, who had led the company since October 2019 and oversaw both the Platinum acquisition and the 2025 IPO. Allen retired from the CEO role but remained as Chairman of the Board.
Philip Moyer brings a technology-forward background that signals where McGraw Hill is heading. Before joining, he served as CEO of Vimeo and previously held a senior executive role at Google focused on artificial intelligence and enterprise software. His appointment is a clear signal from Platinum Equity that McGraw Hill’s next chapter is about AI-driven learning platforms, not traditional publishing.
What McGraw Hill Does and How Big It Is
McGraw Hill is not just a textbook company. It describes itself today as a “leading global provider of information solutions for education” — and the numbers back that up.
The company reported $2.1 billion in revenue for the fiscal year ended March 31, 2025 — up 7.2% from $1.96 billion the prior year. More than two-thirds of that revenue now comes from digital products and services, and nearly 60% is what the company calls “re-occurring revenue” — subscription-style income that renews year after year. By fiscal year 2025, McGraw Hill had over 26 million paid digital users across its platforms.
Its product line spans K-12 curriculum, higher education course materials, international markets, and professional development. In the higher education space, it competes with publishers like Pearson and Cengage, while in the K-12 space it competes directly with rivals like Instructure’s Canvas in the learning management space. Its Evergreen™ delivery model allows digital content to be updated in real time — a shift that moves the product from a static textbook to a living platform.
Frequently Asked Questions (FAQs)
Q1. Who owns McGraw Hill in 2026?
Platinum Equity controls McGraw Hill with approximately 86.4% of common stock and voting power as of June 2026, even though the company is publicly traded on the NYSE under ticker MH.
Q2. Is McGraw Hill publicly traded?
Yes. McGraw Hill (NYSE: MH) returned to the public markets in July 2025 through an IPO that raised $415 million at $17 per share, valuing the company at approximately $3.25 billion.
Q3. Who founded McGraw Hill?
James H. McGraw and John A. Hill merged their separate trade publication businesses in 1917 to form McGraw-Hill Publishing Company, though McGraw had been building his portfolio since 1888.
Q4. When did Platinum Equity buy McGraw Hill?
Platinum Equity completed its acquisition of McGraw Hill on August 2, 2021, paying approximately $4.5 billion — buying it from Apollo Global Management, which had owned it since 2013.
Q5. Who is the CEO of McGraw Hill in 2026?
Philip Moyer became President and CEO on February 9, 2026, succeeding Simon Allen, who now serves as Chairman of the Board.
Q6. How much revenue does McGraw Hill generate?
McGraw Hill reported $2.1 billion in revenue for fiscal year ended March 31, 2025, with over $1.4 billion coming from digital products and more than 26 million paid digital users.
Q7. Did Apollo Global Management own McGraw Hill?
Yes. Apollo Global Management owned McGraw-Hill Education from 2013 to 2021, having bought it from the original McGraw-Hill Companies for $2.4 billion and selling it to Platinum Equity for $4.5 billion.
Q8. What is McGraw Hill’s stock symbol?
McGraw Hill trades on the New York Stock Exchange under the ticker symbol MH, having begun trading in July 2025 following its IPO.
McGraw Hill (NYSE: MH) is publicly traded — but make no mistake about who controls it. Platinum Equity, the Beverly Hills-based private equity firm founded by billionaire Tom Gores, owns approximately 86.4% of McGraw Hill’s stock and voting power, having acquired the company in August 2021 for $4.5 billion.
The July 2025 IPO raised $415 million and brought McGraw Hill back to the NYSE for the first time in 13 years, but Platinum sold none of its shares, retaining full strategic control.
New CEO Philip Moyer — a former Google AI executive and Vimeo CEO — is now steering the company toward an AI-powered learning future, replacing Simon Allen who led the company through its transformation from a print-heavy publisher to a digital platform generating over $1.4 billion in digital revenue annually.
With 134 years of history and one of the most recognized names in American education, McGraw Hill remains one of the most important companies in the global learning industry — now with a stock ticker to match.
