Vince McMahon\'s story with WWE may be over after he resigned from his position. That being said, the company still made him a very rich man, with the ability to cash out his massive stockpile of assets, and he decided to cash in on some of those options today.
McMahon recently sold 5,350,000 shares of TKO, worth around $412 million. It\'s unclear why he needs the money, but he\'s certainly getting a nice windfall of cash from this exchange.
Vince McMahon Unloading Stock
In a recent filing, it has been disclosed that Vince McMahon has sold a significantly large portion of his shares in the company. The filing reveals that McMahon has divested 5,350,000 shares of TKO, amounting to a total value of approximately $412 million.
Following this transaction, McMahon\'s remaining stake in TKO stands at around 15 million shares, which corresponds to approximately 9% of the total outstanding TKO stock. This move indicates a substantial reduction in McMahon\'s ownership interest in the company, although he still retains a significant portion of TKO shares.
Vince McMahon still has a ton of stock, but it\'s not enough where he can re-insert himself into the WWE fold as he did before. The fact that he is selling even more stock would also give an idea that he has no intention to come back in the same way.
Loading tweet...
Mr. McMahon\'s WWE Exit
McMahon resigned from his position with the company after Janel Grant\'s lawsuit included damning allegations of sex trafficking and so much more. Now, we will have to see if anything happens with that lawsuit, or if they decide to settle out of court.
Vince McMahon helped build WWE into what it became today, but he no longer has an active hand in the company\'s product. It remains to be seen if he will hold onto every bit of TKO stock he has left, but he\'s certainly not opposed to selling some of it.
SEScoops will have more updates on this story as they are available.
