For the third time in the past five months, and second since he resigned after being accused of sexual abuse in a lawsuit by former WWE employee Janel Grant, Vince McMahon has sold a portion of his stake in WWE & UFC parent company TKO Group.
According to a TKO filing with the U.S. Securities & Exchange Commission released yesterday (Mar. 28), McMahon recently sold 3,484,006 of his shares in the company. The sale through an unnamed bank netted him “approximately $100 million”.
Combined with the sale of 8.4 million shares last November, and more than 5 million earlier this month, McMahon has made more than $1.2 billion by selling off his TKO stock. He still has 11.5 million shares in the company, which — based on their $86.41 price when Wall Street closed yesterday, are worth nearly another billion dollars.
It’s not clear what McMahon plans to do with the proceeds of these sales. He has vowed to fight Grant’s suit, which along with his 2022 hush money scandal has also made him the target of a federal investigation.
TKO has sought to distance itself from McMahon as much as possible since his resignation, and did not comment on the sale outside of the filing. Last month they told investors they haven’t had any contact with McMahon and have no insight into his plans.
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