Exhibit 21.1
Mentor Capital, Inc. Subsidiaries
The following is a list of subsidiaries of Mentor Capital, Inc. as of December 31, 2024:
| Name of Subsidiary | % of ownership | State in which Incorporated | ||
| Mentor IP, LLC | 100% | South Dakota | ||
| Mentor Partner I, LLC | 100 % | Texas | ||
| Mentor Partner II, LLC | 100 % | Texas | ||
| TWG, LLC | 100 % | Texas |