Vince McMahon Sells $311M in WWE Parent Company TKO Stock amid Lawsuit

Vince McMahon will net around $311 million from two separate sales of his stock in TKO Group Holdings, according to an SEC filing.

The company, which resulted from the merger of WWE and the UFC, said Endeavor agreed to purchase 1,642,970 shares of McMahon's Class A common stock in a deal that's valued at $146.2 million. TKO, meanwhile, will purchase 1,853,724 shares of McMahon's common stock at a cost of $165 million.

Variety's Todd Spangler noted McMahon will have received around $1.5 billion from his multiple sales of TKO stocks.

The 78-year-old was a key figure in the merger but resigned as TKO executive chairman in January. His departure came after the Wall Street Journal's Khadeeja Safdar reported on a lawsuit by a former WWE employee accusing him of sexual abuse and sex trafficking. The allegations are reportedly the subject of a federal investigation as well.

A lawyer for former WWE executive John Laurinaitis, who's a co-defendant in the lawsuit, asserted to Vice News' Tim Marchman in February that Laurinaitis "is a victim in this case, not a predator." Lawyer Edward Brennan said McMahon exerted significant power over his client, including "dictatorial sexual demands with repercussions if not met."

Alex Weprin of The Hollywood Reporter reported on Feb. 7 that TKO CEO Ari Emanuel along with company president and COO Mark Shapiro reached out to McMahon in late January to suggest he resign from TKO.

McMahon had previously stepped away from WWE amid scandal. He announced in July 2022 he was retiring as chairman and CEO, a decision that was made after the Wall Street Journal reported on multiple nondisclosure agreements worth millions of dollars he arranged to resolve allegations of sexual misconduct.

He then returned to oversee the sale of WWE and stayed on through the merger ahead of his January resignation.