The former owner and head of WWE, Vince McMahon, is in the middle of several legal troubles, having resigned from his position at TKO following a lawsuit accusing him of sex trafficking and abuse. Despite the allegations, McMahon does not have any financial problems, as he recently sold over 5 million shares of TKO stock, worth over $400 million.
Vince McMahon still owns these much shares
McMahon unloaded 5.35 million shares of his TKO stock, worth $411.95 million. Morgan Stanley brokered the deal for Vince, who continues to make bank despite resigning from all of his positions within the company following the allegations. After WWE and UFC officially merged, Vince sold 8.4 million TKO shares, worth $642 million. He still owns about 15 million shares of the stock after these transactions, which is about 9% of TKO stock.
He resigned as the WWE chairman in 2022
After the merge was official, TKO paid McMahon a special dividend, totaling $111 million. At this time, he is still in a legal battle with his recent lawsuit, with federal prosecutors also currently investigating Vince for multiple allegations of sexual misconduct. He resigned as WWE President in the summer of 2022 after it was revealed that he had paid millions of dollars to silence accusers. Vince returned to the WWE board as acting chairman in January 2023 after the investigation was closed in November 2022.
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Despite the growing allegations, McMahon has denied them and is determined to clear his name. The money will be used to do just that. Legal defense bills, potential litigation damages and liquidating assets to hide. These are the tasks for a person who is in legal trouble. Apart from Vince McMahon, WWE Superstar Brock Lesnar’s name has also been included in the legal Lawsuit accusing McMahon of sex trafficking. Now WWE seems to be cutting ties with Lesnar as they removed him from 2K’s digital collectable game and he was not involved in Royal Rumble as well.
