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The Real Model

McDonald's Made $10.4B in Rent in 2025. $6B in Royalties.

McDonald's collected $4.4 billion more in rent than royalties in FY2025. The architecture was incorporated in Delaware in 1956.

Drops

May 26, 2026 8:00 AM EDT

The companion video publishes alongside the article. The full investigation, the source documents, and the primary-source citations will be readable here the moment the documentary record is closed.