Vince McMahon unloads another $100 million of TKO Group Holdings stock
Vince McMahon, former executive chairman over TKO Group Holdings and WWE founder, has sold off more stock in the company he left.
Financial filings through the Securities and Exchanges Commission show McMahon, 78, sold just under 3.5 million shares of stock and received “approximately $100 million” for the sale.
This is the third time McMahon has sold off a portion of his stock in TKO Group Holdings, the merged company between WWE and UFC. His first sale in 2023 netted around $670 million, and a second sale finalized in March paid out $408 million.
This latest transaction brings McMahon to over $1.17 billion earned in stock sales from his holdings in TKO.
Based on the financial disclosure, McMahon still holds over 11.5 million shares of TKO stock, which is valued at just under $1 billion based on current stock prices. That’s a drastic downsizing for the ex-WWE chief, who was one of the largest shareholders in TKO when the company first formed.
Endeavor, the talent agency that previously purchased the UFC for just over $4 billion in 2016, completed a transaction to take over ownership of the WWE. The agency maintained a 51 percent controlling stock in the company, and the other 49 percent belonged to existing WWE shareholders, including McMahon.
Ari Emanuel oversees TKO Group Holdings as CEO, and ultimately, the buck stops with him for any major company decisions.
McMahon’s latest stock sale comes after he cut ties with WWE following a lawsuit filed by a former employee containing disturbing allegations of sexual assault, sex trafficking and other abuses the employee claims she suffered while working for the pro-wrestling mogul.
Following McMahon’s exit, TKO Group Holdings president Mark Shapiro addressed the former exec’s stock sales.
“He’ll do whatever he’s going to do, and we’re all on the sideline,” Shapiro said of McMahon. “We’ll have a look, we’ll see. We have no idea on timing. We’re not having any discussion with him. He’s given us no point of view on his motive, or his plans to sell or not sell, or if he does, how much. So, we’re going to wait around and find out just like you.”
The latest sale was completed with an unnamed bank purchasing McMahon’s stock between March 5 and March 25.