diff --git a/packages/react-devtools-shared/src/__tests__/__snapshots__/ownersListContext-test.js.snap b/packages/react-devtools-shared/src/__tests__/__snapshots__/ownersListContext-test.js.snap
index 0699eb5b18dc5..7ef006fda2423 100644
--- a/packages/react-devtools-shared/src/__tests__/__snapshots__/ownersListContext-test.js.snap
+++ b/packages/react-devtools-shared/src/__tests__/__snapshots__/ownersListContext-test.js.snap
@@ -78,6 +78,29 @@ Array [
 ]
 `;
 
+exports[`OwnersListContext should include all owners for a component wrapped in react memo : owners for "Anonymous" 1`] = `
+Array [
+  Object {
+    "displayName": "Grandparent",
+    "hocDisplayNames": null,
+    "id": 2,
+    "type": 5,
+  },
+  Object {
+    "displayName": "Anonymous",
+    "hocDisplayNames": null,
+    "id": 3,
+    "type": 8,
+  },
+  Object {
+    "displayName": "Anonymous",
+    "hocDisplayNames": null,
+    "id": 4,
+    "type": 6,
+  },
+]
+`;
+
 exports[`OwnersListContext should include the current element even if there are no other owners: mount 1`] = `
 [root]
     <Grandparent>
diff --git a/packages/react-devtools-shared/src/__tests__/ownersListContext-test.js b/packages/react-devtools-shared/src/__tests__/ownersListContext-test.js
index b39da70632065..b8b611ff35be6 100644
--- a/packages/react-devtools-shared/src/__tests__/ownersListContext-test.js
+++ b/packages/react-devtools-shared/src/__tests__/ownersListContext-test.js
@@ -206,4 +206,42 @@ describe('OwnersListContext', () => {
 
     done();
   });
+
+  it('should include all owners for a component wrapped in react memo ', async done => {
+    const InnerComponent = React.forwardRef((props, ref) => <div ref={ref} />);
+    const Memo = React.memo(InnerComponent);
+    const Grandparent = () => {
+      const ref = React.createRef();
+      return <Memo ref={ref} />;
+    };
+
+    utils.act(() =>
+      ReactDOM.render(<Grandparent />, document.createElement('div')),
+    );
+
+    let didFinish = false;
+    function Suspender({owner}) {
+      const read = React.useContext(OwnersListContext);
+      const owners = read(owner.id);
+      didFinish = true;
+      expect(owners.length).toBe(3);
+      expect(owners).toMatchSnapshot(
+        `owners for "${(owner && owner.displayName) || ''}"`,
+      );
+      return null;
+    }
+
+    const wrapped = ((store.getElementAtIndex(2): any): Element);
+    await utils.actAsync(() =>
+      TestRenderer.create(
+        <Contexts defaultOwnerID={wrapped.id}>
+          <React.Suspense fallback={null}>
+            <Suspender owner={wrapped} />
+          </React.Suspense>
+        </Contexts>,
+      ),
+    );
+    expect(didFinish).toBe(true);
+    done();
+  });
 });
diff --git a/packages/react-reconciler/src/ReactFiberBeginWork.new.js b/packages/react-reconciler/src/ReactFiberBeginWork.new.js
index 338191f23666c..874ba6baa8e3d 100644
--- a/packages/react-reconciler/src/ReactFiberBeginWork.new.js
+++ b/packages/react-reconciler/src/ReactFiberBeginWork.new.js
@@ -429,6 +429,9 @@ function updateMemoComponent(
     child.ref = workInProgress.ref;
     child.return = workInProgress;
     workInProgress.child = child;
+    if (__DEV__) {
+      child._debugOwner = workInProgress;
+    }
     return child;
   }
   if (__DEV__) {
diff --git a/packages/react-reconciler/src/ReactFiberBeginWork.old.js b/packages/react-reconciler/src/ReactFiberBeginWork.old.js
index 4fde99d80c715..e10b4a4fe476e 100644
--- a/packages/react-reconciler/src/ReactFiberBeginWork.old.js
+++ b/packages/react-reconciler/src/ReactFiberBeginWork.old.js
@@ -429,6 +429,9 @@ function updateMemoComponent(
     child.ref = workInProgress.ref;
     child.return = workInProgress;
     workInProgress.child = child;
+    if (__DEV__) {
+      child._debugOwner = workInProgress;
+    }
     return child;
   }
   if (__DEV__) {