WWE Founder Vince McMahon Nets $100 Million Through Another Stock Sale


Vince McMahon, the founder and former CEO of wrestling entertainment company WWE, received about $100 million through a sale of about 3.5 million shares of TKO Group.

TKO Group was formed last year through the Endeavor-led merger of UFC and WWE. Endeavor maintains a majority interest in TKO. 

McMahon’s latest sale of TKO stock comes after he netted $408 million through a separate sale of shares earlier this month, and after he sold 8.4 million shares of Class A common stock in TKO — worth $670 million — last November. All told, to date he has earned some $1.2 billion through TKO stock sales.

According to an SEC filing Thursday by TKO Group, McMahon’s latest stock sale was to an unnamed bank, with the 3.5 million shares transferred over the course of 15 business days (March 5-25). “Upon such physical settlement, [McMahon] received, in the aggregate, approximately $100 million from the Bank,” per the filing.

McMahon now owns 11.5 million shares of TKO Group, according to the fling. Those are worth nearly $1 billion as of Thursday’s closing stock price.

McMahon, the founder of WWE, resigned from the board of TKO Group earlier this year amid sexual assault allegations against him by a former employee. He has strongly denied the allegations in the lawsuit.

In an SEC filing last month, TKO disclosed that McMahon forfeited 86,918 shares of unvested stock units, valued at $7.5 million, after he resigned under pressure from the TKO board.



.

Leave a Reply

Your email address will not be published. Required fields are marked *