Vince McMahon Sells $100 Million More In TKO Group Holdings Stock

Vince McMahon has sold approximately 3.5 million shares from his TKO Group Holdings Inc. portfolio. 

According to the Securities and Exchanges Commission, the sale is worth approximately $100 million. This is the third time McMahon has sold shares in the company, second since stepping down as the executive chairman in January. The first sale earned McMahon nearly $670 million last year, while the other transaction in March pocketed him $408 million. That brings McMahon’s total earnings from the sales to over $1.17 billion. However, McMahon still has more than 11.5 million shares in the company, valued at close to $1 billion currently. 

Those sales come as McMahon faces a federal investigation for sex trafficking. Janel Grant, an ex-WWE employee, filed a lawsuit accusing McMahon of sexual assault, sex trafficking, and abuse. She claims she was offered a job in exchange for sex and trafficked to other men. McMahon denied those claims but resigned as Executive Chairman of TKO Group Holdings Inc. 

“Out of respect for the WWE Universe, the extraordinary TKO business and its board members and shareholders, partners and constituents, and all of the employees and Superstars who helped make WWE into the global leader it is today, I have decided to resign from my executive chairmanship and the TKO board of directors, effective immediately,” McMahon said

TKO’s President, Mark Shapiro, has reacted to McMahon’s resignation. Shapiro didn’t rule out the further sale of shares, stating he would be monitoring any changes moving forward.

“He’ll do whatever he’s going to do, and we’re all on the sideline. 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,” Shapiro stated

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