Universal Music Group (also known as Universal Music Group BV and as UMG Recordings, Inc. and often abbreviated as UMG) is a global music corporation that is majority owned by the French media conglomerate Vivendi, with Chinese tech company Tencent owning a minority stake. UMG's corporate headquarters are located in Hilversum, Netherlands and its operational headquarters are located in Santa Monica, California. The biggest music company in the world, it is one of the "Big Three" record labels, along with Sony Music and Warner Music Group. Tencent acquired ten percent of Universal Music Group in March 2020 for €3 billion and acquired an additional ten percent stake in January 2021.