Vince McMahon, the former executive chairman of TKO Group Holdings and founder of WWE, has once again made headlines by selling off a significant portion of his stock in the company.
According to recent financial filings with the Securities and Exchange Commission, McMahon, aged 78, has sold approximately 3.5 million shares of stock, fetching around $100 million from the transaction.
This marks the third instance of McMahon divesting his holdings in TKO Group Holdings. His previous sales in 2023 and earlier this year amassed substantial sums, totaling over $1.17 billion.
Despite these sales, McMahon still retains a considerable stake in TKO, with over 11.5 million shares valued at nearly $1 billion based on current stock prices.
This marks a significant reduction from his previous holdings, reflecting a shift in his investment strategy.
TKO Group Holdings was formed through the merger of WWE and UFC, with Endeavor, the talent agency that acquired UFC in 2016, assuming majority ownership of the combined entity.
Ari Emanuel, CEO of Endeavor, now oversees TKO Group Holdings, holding a controlling stake in the company.
McMahon’s decision to sell off more stock comes in the wake of his departure from WWE following legal challenges.
A lawsuit filed by a former employee alleging serious misconduct prompted McMahon to sever ties with the company.
In light of these developments, Mark Shapiro, president of TKO Group Holdings, commented on McMahon’s stock sales, emphasizing the uncertainty surrounding his motives and future plans.
The latest sale was facilitated through an unnamed bank, with transactions occurring between March 5 and March 25.
As McMahon continues to divest his holdings, the industry watches closely to see how this impacts the future of TKO Group Holdings and its operations.
