Third-generation wrestling promoter Vince McMahon transformed the WWE into a global franchise. The 78-year-old took over the reins of the promotion from his father and made several key moves that ultimately led to the WWE being the premier organization in the world for professional wrestling. After over seven decades of ownership, the McMahon family ceded ownership of their promotion over to the Endeavour group. Recent developments suggest they might be headed for a complete exit altogether.
Recent reports suggest that McMahon is cashing out his stock. According to Dave Meltzer, Vince McMahon sold 5.35M shares of WWE stock, which is about 6.5% of the company, for $411.95M. At this point, there is no further information on why exactly he is doing so.
Dave Meltzer reporting Vince McMahon sold 5.35M shares of WWE stock, which is about 6.5% of the company, for $411.95M.
— Jed I. Goodman © (@jedigoodman) March 5, 2024
In early 2023, it was rumored that McMahon and his family wanted to sell their stake in the company. Needless to say, there were several big names interested in purchasing the WWE including the Public Investment Fund from Saudi Arabia. McMahon and his family finally ended up selling their stake to Ari Emmanuel’s Endeavour group for a whopping $9.3 billion.
Emmanuel led Endeavour already owned the UFC which they had purchased in 2016. After the purchase of the WWE, both companies were merged to create a holding company named TKO Group Holdings.
This was floated as a separate entity altogether on the stock market. The stock price for the company is currently at $81.67. The merging of the two companies has allowed for a lot of cross-learnings. Since the merger stars like Michael Chandler have also been spotted at WWE events and even gotten time on the microphone as well.
Dana White Brands Vince McMahon the Michael Jordan of business
White and McMahon clashed multiple times as owners of competing businesses for the better part of two decades. In multiple interviews, Dana White stated that McMahon used to try to ‘f**k him’ over multiple times.
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However, since the merger White stated that he has enjoyed working together with McMahon. White also gave McMahon the ultimate compliment by saying, “Even with the stuff that went down with us in the past, I respect it. I love killers. He’s a killer. He’s the Michael Jordan of the business world.” However, due to recent legal troubles, McMahon is no longer involved in the day-to-day running of the company.
