Vince McMahon Sells Off More Stock in TKO Group Holdings
Vince McMahon, the former executive chairman of TKO Group Holdings and founder of WWE, has once again ufc/03/20/2024/new-triller-direction-boxing-mma-ish-mashup-could-mess-with-dana-white-and-ufc/” title=”New Triller direction, boxing/MMA-ish mashup, could mess with Dana White and UFC”>made headlines with his latest stock sale. According to financial filings with the Securities and Exchange Commission, McMahon sold just under 3.5 million shares of stock, earning approximately $100 million.
This is the third time McMahon has sold off a portion of his stock in TKO Group Holdings, the company formed through the merger of WWE and UFC. His previous sales in 2023 and March of this year earned him a total of $1.08 billion.
Despite this latest sale, McMahon still holds over 11.5 million shares of TKO stock, valued at just under $1 billion. This is a significant decrease from his initial holdings when the company was first formed.
Endeavor Takes Over Ownership of WWE
In 2016, talent agency Endeavor purchased UFC for $4 billion. As part of the deal, they also acquired a 51 percent controlling stock in WWE. The remaining 49 percent was owned by existing WWE shareholders, including McMahon.
With Ari Emanuel as CEO of TKO Group Holdings, the agency now holds the majority of the company’s stock and makes all major decisions.
McMahon’s Exit and Controversial Lawsuit
McMahon’s latest stock sale comes after his departure from WWE following a lawsuit filed by a former employee. The lawsuit contains disturbing allegations of sexual assault, sex trafficking, and other abuses that the employee claims she suffered while working for McMahon.
TKO Group Holdings president Mark Shapiro addressed McMahon’s stock sales, stating that they have no knowledge of his motives or plans. The latest sale was completed with an unnamed bank purchasing McMahon’s stock between March 5 and March 25.
Kosport Magazine’s Take
Vince McMahon’s continued stock sales in TKO Group Holdings raise questions about his future involvement with the company. With Endeavor now in control, it remains to be seen how McMahon’s departure will impact the future of WWE. As always, Kosport Magazine will keep you updated on any developments in this ongoing story.
