7 months ago
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WWE
Former WWE CEO Vince McMahon has further reduced his stake in TKO, WWE's parent company, after selling more stock once again.
As per the latest SEC filing, McMahon is selling shares worth $300 million to TKO and Endeavor — $165 million worth of stock to the former and $146.2 million worth of stock to the latter. Brandon Thurston of "WrestleNomics" has estimated that McMahon now owns just 4.7% of TKO, and notes that McMahon has just over 8 million shares of the newly formed entity following his latest sale.
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McMahon has sold TKO stocks multiple times since last year, including two sales last month. In the first half of March, the former WWE CEO sold stocks valued at over $400 million, and later in the month sold an additional $100 million worth of TKO stock. McMahon's first stock sale of TKO was in November 2023, merely two months after the company's formation, as he divested 30% of his stake in the company for $700 million. McMahon has raked in a whopping $1.5 billion from TKO stock sales so far.
All reports suggest that there's no way back to WWE for McMahon as the promotion is distancing itself from the disgraced former CEO following sexual misconduct and sex trafficking allegations. This past weekend's WrestleMania 40, which was a huge success for the promotion, did not have McMahon's hands on it, leaving those in WWE relieved that he's no longer behind the scenes in the company. McMahon, WWE, and John Laurinaitis have all been served by Janel Grant — who accused McMahon of sexual misconduct — and they have to respond to it by May.
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