Vince McMahon made greater than $400 million yesterday after promoting over 5 million of his shares in TKO Group Holdings, the dad or mum firm of WWE, in accordance with paperwork supplied to the New York Post by the Securities and Alternate Fee.
Following the sale, McMahon nonetheless owns 15 million shares, which is about 9 % of TKO inventory, as reported by the Daily Mail.
When WWE and TKO merged, McMahon was named govt chairman of the corporate. In January, McMahon resigned from TKO after being named in a sex-trafficking lawsuit by a former worker, the place he reportedly pressured the sufferer, Janel Grant, into having intercourse with colleagues, sharing nude photos of her with out her consent, utilizing intercourse toys on her and defecating on her throughout a pressured threesome.
After information of the lawsuit broke, it was discovered that the feds executed a search warrant in the course of the summer season on McMahon’s cellphone. McMahon and colleague John Larinitis had been additionally accused of covering up the alleged rape of Ashley Massaro, a former WWE expertise.
“I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name,” McMahon mentioned in a statement after information of Grant’s lawsuit surfaced. “However, out of respect for the WWE Universe, the extraordinary TKO business and its board members and shareholders, partners and constituents, and all of the employees and Superstars who helped make WWE into the global leader it is today, I have decided to resign from my executive chairmanship and the TKO board of directors, effective immediately.”
