Vince McMahon pocketed over $400 million in an instant on Monday selling a chunk of his TKO stock following his departure from the company over sexual assault allegations, according to a recent SEC filing.
As it is
McMahon dumped 5,350,000 shares — about 25% of his stock — while still holding on to his remaining stake in WWE and UFC’s parent company, which is around 15 million shares.
The SEC filing notes the value of the stocks at $411.95 million though they could be worth closer to $436 million, as yesterday’s TKO stock price closed at $81.67 (times 5.35 million shares).
Why He Stepped Down From His Role
The news comes just over one month after the former honcho resigned from his role as TKO’s executive chairman as a result of a former staffer’s lawsuit filing which accused him of heinous sexual acts and misconduct.
McMahon has maintained his innocence but felt it was necessary to step down ‘out of respect for the WWE Universe.’
He is Selling For The Second Time
This is the second big stock dump for McMahon — back in November, he sold 8,400,000 shares netting around $700 million.
McMahon — who has been out of the public eye following the allegations — has vowed to fight Janel Grant’s allegations and clear his name, so perhaps some of his big payday will go toward legal fees.
