- McMahon resigned in January, a matter of weeks after the merger’s completion
- The document revealed that the 78-year-old still owns nine per cent of company
- He has around 15million shares remaining and denies the allegations made
Vince McMahon has pocketed a large fee after selling nearly 5.4million shares in WWE and UFC umbrella company TKO, it has been revealed.
McMahon resigned from his position as Executive Chairman of TKO in January after he was swarmed by sex trafficking allegations, just months on from the multi-billion pound merger between WWE and UFC.
The 78-year-old had been WWE boss for a number of decades, and initially retired in July 2022 after a number of sexual misconduct allegations, but returned to working soon after.
Following the merger, he was appointed Executive Chairman of TKO and featured in a number of promotional photos, but his resurrection was short-lived and he is now far away from WWE activities.
According to a notice filed to the United States Securities and Exchange Committion, McMahon sold his shares for a fee of around £325million on March 4, which was just over one quarter of his shares.
Vince McMahon has pocketed around £325million after selling some of his shares in TKO
A document revealed the billionaire fold over 5million of his shares – though he still owns around 15million
McMahon resigned as Executive Chairman of TKO on the back of sex trafficking allegations
Following the transaction, McMahon has around 15million shares remaining, which is around nine per cent of all TKO stock.
A statement sent to DailyMail.com on the back of the sex trafficking allegations from McMahon read: ‘I stand by my prior statement that Ms. Grant’s lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth.
‘I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name.
‘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.’
Janel Grant (pictured) is suing the 78-year-old, the WWE and another company executive
McMahon is accused of trafficking Grant to other men with other disturbing allegations made
Grant claims she suffered bruising and bleeding after McMahon forcefully penetrated her with sex toys, which he named after his wrestlers.
She also alleges that McMahon and another WWE executive locked her in a room at the WWE’s Stamford, Connecticut headquarters in June of 2021 and took turns sexually assaulting her during the work day.
She also claimed he defecated on her head during a threesome.
The married McMahon is additionally accused of trafficking Grant to other men and sharing nude photographs of the plaintiff. Grant is seeking unspecified damages.