Last week, TKO Group Holdings, Inc. issued a press release announcing that Vince McMahon intended to sell 8.4 million shares. And now it has been confirmed by Brandon Thurston of Wrestlenomics that he successfully sold these for a whopping $641,844,000 after commission. Why he decided to sell this much stock remains unknown, but it should be noted he still owns 20 million TKO shares, which is the corporation that was created when WWE merged with UFC’s parent company Endeavor.
Following serious allegations of sexual misconduct and hush money payments, 78-year-old Vince McMahon retired from WWE in July 2022. However, the disgraced billionaire’s retirement was short-lived, as he later returned to the company to help facilitate the merger. Nevertheless, this would concern some shareholders, and multiple lawsuits were filed following McMahon’s return to the Board of Directors. Still, the legal proceedings would be dropped after McMahon agreed to pay back the $17.4 million that WWE had spent on the investigation into his conduct in addition to $2 million toward the plaintiffs’ attorney fees.
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