Mr. McMahon Sells TKO-Holdings Shares

11/15/2023 9:53 PM

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Mr. McMahon Sells TKO-Holdings Shares

Mr. McMahon Sells TKO-Holdings Shares

November 15, 2023 9:53 PM
Mr. McMahon Sells TKO-Holdings Shares
WWE News

How Much Did Vince McMahon Receive?

Mr. McMahon sold some of his TKO-Holdings shares today, a move that was expected but one that still has people asking questions such as how much of his stock holdings he sold, and how much money he received. Let's look at the news as well as what his means for McMahon.

Fightful is reporting:

On November 14, a new Changes in Beneficial Ownership filing indicated that McMahon sold his 8.4 million shares at the price of $76.41 per share. The net proceeds comes out to $641,844,000.

H/T Fightful

This reduces McMahon's ownership in TKO-Holdings. According to the Fightful report:

McMahon still holds 20,435,207 shares, which is roughly 12% of the company.

It's important to remember that McMahon lost control of the WWE when the company merged with Endeavor to form TKO-Holdings. Prior to the merger, McMahon held a majority of voting shares in the WWE which allowed him to control the company.

However, as Dave Meltzer noted in the 13 November 2023 Wrestling Observer Newsletter:

McMahon has to maintain seven million shares to keep his position as Chairman of the Board of Directors, and even when his sale goes through, at 20.44 million shares, he is comfortably above that threshold.

H/T Wrestling Observer Newsletter

McMahon's recent announcement that he was going to sell some of his shares was followed by a drop in the value of TKO-Holdings' stock. It's unknown whether this sale will have any effect on the share price.

WrestleLamia will continue monitoring this story.

Photo Credit: WWE