WWE makes first major announcement after Vince McMahon’s $641,844,000 earnings from selling 8.4 million TKO shares

On September 2023, WWE announced their partnership with UFC to form a new group named TKO. Endeavor owns 51% of newly created sports and entertainment company and Vince McMahon holds 16.4% of shares. Recently WWE made a announcement regarding the shares of Vince.

Recently TKO announced that McMahon, the executive chairman of the official TKO Group is selling over 8 Million TKO Shares. The world was expecting that Shane and Stephanie would take over WWE after Vince McMahon. However, no one thought that Vince would sell his TKO shares

Vince McMahon’s staggering $641,844,000 earning

Recently, the details about the shares were revealed on the internet. As per the official reports, Vince sold 8.4 million shares of TKO. The price of a single share was at $76.41. Vince roughly made around $641,844,000 by selling those TKO shares.

The stock he’s selling represents about 30% of the 28 million shares McMahon previously owned in TKO, per a regulatory filing. This move from McMahon states that he is planning to leave the WWE sooner. Since the merging with TKO, Vince stopped himself to involve in any operations of the WWE.

Sources said that Vince is also not a part of the creative team of WWE. Even after selling around 30% of shares, Vince still holds a whooping 20,435,207 shares of the company. It would be around 12% of WWE shares,which indicates that Vince is not entirely leaving WWE.

WWE Backlash 2024 date, venue announced

Today WWE made an announcement about the 19th Backlash Pay-per-view. For the first time ever in history, France is going to host the Backlash event on May 4 2024. The event will take place in Lyon-Decines arena. Along with the backlash WWE also announced that the Smackdown before the Backlash will be broadcasted from the same arena on May 3 2024.