How much of WWE does Vince McMahon own?
In a shocking turn of events, Vince McMahon has stepped back from his duties as the CEO and Chairman of WWE.
The news comes after The Wall Street Journal's report that WWE's Board of Directors has launched an investigation regarding a secret settlement that McMahon reached with a former employee that he allegedly had an affair with.
The board of World Wrestling Entertainment appointed Stephanie McMahon as interim chief executive officer and chairwoman pending an investigation into alleged misconduct by her father and longtime head of the company, Vince McMahon. on.wsj.com/3Hv6qS0
This massive announcement has shaken the entire wrestling world to its core. After being at the helm of WWE for four decades and turning it into a global empire, McMahon's decision to step back kicks off a new era for the company, at least in the interim.
Since Mr. McMahon remained the most predominant figure in his promotion for about 40 years, fans have wondered how much of WWE he owns.
How much of WWE does Vince McMahon own?
WWE has announced that Vince McMahon is stepping down as its Chairman and CEO, at least until its investigation is completed, and Stephanie McMahon has been named Interim CEO and Chairwoman. Vince McMahon will remain in charge of creative during this time.
Vince McMahon holds about 37.6 percent of WWE's total shares. He owns approximately 28.7 million shares of the company's total stock. As per multiple sources, he has approximately 83 percent voting power when it comes to WWE's internal matters.
His shares fall in the "Class B" category, granting him higher voting power within the company. The newly announced Interim CEO of WWE, Stephanie McMahon, owns around 2.47 percent of WWE.
Vince McMahon will appear on WWE SmackDown tonight
BT Sport 1HD. 1am. Vince McMahon will appear live on SmackDown. https://t.co/scI9KtTnzx
With Stephanie McMahon now at the helm of the promotion, it's a new day in WWE.
In the aftermath of his temporary departure from WWE's leadership group, Mr. McMahon will make an appearance on this week's episode of WWE Smackdown. It will be interesting to see what he has to say in his address to the WWE Universe. There are several concerns about the company's future, and there won't be a better person to answer those questions than Vinnie Mac himself.
Moreover, the former WWE Chairman has retained his power to influence RAW and SmackDown's creative process. Without the burden of his other responsibilities, will Mr. McMahon change his approach toward booking upcoming storylines? Time will tell.