6 months ago
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Vince McMahon, the former board member of TKO Holdings, has emerged among the headlines yet again with the official sell-off of his TKO stock.
The former WWE Chairman has successfully completed the sale of a substantial portion of his TKO stock, fetching over $400 million. This follows the recent announcement that McMahon intended to sell 5.35 million shares of his company stock, a move now confirmed through TKO’s filing with the SEC.
The shares were valued at $77 each, culminating in a total of $411.95 million from the completed sale which seemed slightly less than what Vince was supposed to get, as reported yesterday. McMahon, despite the significant divestment, still retains ownership of 15,002,105 shares of TKO stock, valued at approximately $1.221 billion based on Friday’s closing price.
It’s worth noting that McMahon stepped down from his position at TKO in late January, coinciding with a lawsuit filed by Janel Grant, alleging sex trafficking, emotional abuse, and sexual assault.
Addressing recent developments, TKO President Mark Shapiro stated at the Morgan Stanley Technology, Media & Telecom Conference on Wednesday that McMahon would not be returning to the company.
What are your thoughts on Vince McMahon’s sale of TKO stock being completed? Sound off in the comments!
