According to an SEC filing that was made public on Thursday, Former WWE/TKO chairman Vince McMahon sold $3.5 million of his TKO shares to an unnamed bank over a 20-day stretch this month. Vince will take home nearly $100 million after selling his most recent stock.
Also per the filing, McMahon still owns $11.5 million TKO shares that have a value of nearly $1 billion based on the $86.41 share price as of the close of the stock market on Thursday.
Last November, McMahon sold roughly 30 percent of stock (8.4 million shares), which gave him nearly $700 million. Earlier this month, McMahon sold 25 percent of his stock for $408 million.
McMahon has a total of $1.2 billion from the various sales. It is not known why he is selling so much of his TKO stock.
McMahon resigned from his position as TKO’s Executive Chairman this past January after being accused of sex trafficking and sexual assault in a lawsuit which was filed by former WWE employee Janel Grant. The news of the lawsuit came just days before WWE’s Royal Rumble premium live event.
Source: F4WOnline