(Photo : Mark A. Wallenfang/Getty Images) GREEN BAY, WI – Vince McMahon attends a press convention concerning the WWE on the Austin Straubel International Airport on June 22, 2009 in Green Bay, Wisconsin.
WWE co-founder and former chairman Vince McMahon is formally severing all ties with the skilled wrestling promotion after 55 years.
The 78-year-old businessman registered on the market the final of his shares in TKO Group Holdings, WWE’s mother or father firm, on Friday, April 27.
McMahon nonetheless retains 8,021,405 TKO shares, valued at over $776 million primarily based on TKO’s closing value of $96.76 on Friday.
Although these shares have been registered on the market, it does not essentially imply an instantaneous sale; as a substitute, the shares are eligible on the market.
The shares are McMahon’s remaining ties to the corporate he made world-famous. He resigned as govt chairman from TKO Group Holdings in January 2024 following allegations of intercourse trafficking and sexual assault.
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McMahon initially held a 16.4% stake at TKO throughout the merger between WWE and UFC final September 2023, which fashioned the holding firm. However, his present possession now stands at simply 4.7%.
Vince McMahon has been liquidating TKO inventory for the previous monts
Over the previous months, McMahon has earned roughly $1.5 billion by promoting TKO shares in 4 separate cases since November 2023.
McMahon bought 8.4 million shares in November, one other 5.35 million shares in two separate transactions in March, and practically 3.5 million shares in early April.
These gross sales netted him $670 million final November, $408 million within the first transaction in March, $100 million within the second transaction additionally in March, and $311 million in April.
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