Vince McMahon continues to rake in the dollars, but his slice of the TKO Group has dwindled.
On November 9th it was confirmed that Vince McMahon was looking to sell 8.4 million shares of TKO stock, which was around 30% of his 28 million shares in the company.
The details of the sale have now been confirmed, with Brandon Thurston sharing the breakdown on social media.
McMahon sold 8.4 million shares at $76.41 dollars per share after underwriting discount and commission to Morgan Stanley. This landed the Executive Chairman $641,844,000. Thurston adds that McMahon still holds around 20 million shares, which equates to 12% of the company, which is down from 16%.
McMahon needs to hold a total of seven million shares to remain as Executive Chairman.