9 months ago
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Vince McMahon was in the news after facing allegations of sexual trafficking and misconduct from a former WWE employee. He subsequently handed in his resignation from TKO and now his stake in the company has been revealed.
Vince McMahon has been dealing with serious allegations of sexual misconduct from former WWE employee Janel Grant. The lawsuit alleges that McMahon shared explicit content of Grant without consent, involving other WWE employees, unnamed executives, and stars.
Fans wondered if he would still remain in TKO after these allegations. It was then announced that Vince McMahon had officially resigned as the Executive Chairman of the TKO Group and had stepped down from his position as a member of the Board of Directors.
In contrast to his aggressive takeover of WWE in early 2023, McMahon lacks the authority to reclaim his seat on the board of directors due to the serious allegations against him. Following the company’s public offering post-merger, McMahon sold significant portion of his TKO shares.
A fan took to Twitter and asked whether his resignation meant he no longer had any stocks in the company. Dave Meltzer clarified that Vince McMahon still owns 11% of the company.
‘‘He owns about 11 percent”
While McMahon still holds a substantial amount of shares, the sale of a significant portion has diminished his voting power considerably. The internal reaction to McMahon’s resignation was also revealed. It remains to be seen how the company will function now that Vince McMahon is effectively gone for good.
What do you think of this story concerning Vince McMahon? Where do you think he will go next? Sound off in the comments section below!
