Wrestling journalist reveals how much of WWE/TKO Vince McMahon still owns despite his resignation
Vince McMahon has officially resigned from his role as Executive Chairman of the TKO Group while also stepping down as a member of the board of directors. With one fan asking how many shares he still owns, wrestling journalist Dave Meltzer revealed a surprising number.
Unlike his hostile takeover of WWE in early 2023, McMahon doesn't hold the same power to take back his seat on the board of directors following the heavy allegations made against him. While he previously owned a third of the TKO shares as the company went public following the merger, he reportedly sold a good chunk of his shares - per Forbes.
McMahon reportedly sold $700 million worth of shares in late 2023, and it was purchased by TKO CEO Ari Emanuel, COO Mark Shapiro, and various other directors within the company. As a result, Dave Meltzer said that Vince McMahon owns about 11% of TKO shares.
That's still a large amount, but it ensures that he has little to no voting power, unlike his time in WWE after he stepped down and made a comeback.
What did Vince McMahon say about his resignation?
Vince McMahon put out a direct response to his resignation from the TKO Group. He vehemently denied the allegations made against him by former employee Janel Grant.
“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."
He stated that his decision to step down was due to his respect for the board members, shareholders, WWE stars, and others who made the company into what it is.
"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, effectively immediately."
The weight of the allegations led to Slim Jim, one of WWE's biggest sponsors, pausing any activity related to the company as a direct result.
It was also reported in the aftermath of Vince McMahon's resignation that WWE CEO Nick Khan issued a statement to the stars via email that McMahon was no longer associated with the TKO Group and that he had tendered his resignation.