Vince McMahon earned more than $400 million yesterday after selling more than five million of his shares in TKO Group Holdings, WWE's parent company, according to documents provided to New York Post by the Securities and Exchange Commission.
After the sale, McMahon still owns 15 million shares, or about nine percent of TKO's stock, as the newspaper reported. Daily Mail.
When WWE and TKO merged, McMahon was named executive chairman of the company. In January, McMahon resigned from TKO after being named in a sex trafficking lawsuit filed by a former employee, in which he allegedly forced the victim, Janel Grant, to have sex with co-workers, share nude photos of herself without her consent, for use sex toys on her and defecating on her during a forced threesome.
After the lawsuit was announced, it emerged that the federal government had carried out a Search warrant during the summer on McMahon's phone. McMahon and his colleague John Larinitis were also accused of cover up the alleged rape by Ashley Massaro, a former WWE talent.
“I intend to vigorously defend myself against these baseless accusations and look forward to clearing my name,” McMahon said in a statement. statement after news of Grant's trial surfaced. “However, out of respect for the WWE Universe, the extraordinary business of TKO and its board members and shareholders, partners and constituents, as well as all the employees and Superstars who have helped make WWE the global leader that it is today, I have decided to resign from my executive presidency and from the board of directors of TKO, effective immediately.