Vince McMahon, the former CEO of WWE, has earned approximately $1.2 billion through stock sales in TKO Group, a company formed through the merger of UFC and WWE last year. McMahon recently sold about 3.5 million shares of TKO stock to an unnamed bank for approximately $100 million, bringing his total earnings from stock sales to nearly $1.2 billion. He currently owns 11.5 million shares of TKO Group, worth close to $1 billion.
McMahon resigned from the board of TKO Group earlier this year amidst sexual assault allegations made by a former employee, which he has denied. Following his resignation, McMahon forfeited 86,918 shares of unvested stock units valued at $7.5 million. Despite the controversy surrounding McMahon, both UFC and WWE had record revenue and sponsorship deals in 2023, generating a total revenue of $1.7 billion and $809 million in adjusted earnings.
The majority interest in TKO Group is held by Endeavor, the company that led the merger of UFC and WWE. McMahon’s recent stock sales follow a sale earlier this month that netted him $408 million, as well as a sale last November of 8.4 million shares worth $670 million. The latest sale of shares took place over 15 business days in March, resulting in McMahon receiving approximately $100 million from the bank.
As of Thursday’s closing stock price, McMahon’s remaining shares in TKO Group are worth nearly $1 billion. Despite the legal issues and controversies surrounding McMahon, the combined operations of UFC and WWE have been successful in terms of revenue and earnings. With a net income of $175.7 million in 2023, the companies continue to perform well financially.
Despite McMahon’s significant earnings through stock sales, his reputation has been tarnished by the sexual assault allegations and his resignation from the board of TKO Group. However, his financial success with TKO Group indicates the continued profitability of UFC and WWE under the Endeavor-led merger. McMahon’s involvement in the company has been marked by both financial success and controversy, highlighting the complexities of his legacy in the world of wrestling entertainment.
