Vince McMahon Sells WWE Stocks Worth $22 Million

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Vince McMahon Sells WWE Stocks Worth $22 Million

WWE is a very big multi-billion dollar company. With numerous projects, and trademarks, they are without doubt the biggest wrestling promotion the world has ever seen. They were so big at a time that they managed to buy out their biggest rivals, WCW at one point in time.

They also bought ECW, which was another promotion that had big names. Some of the wrestlers from WCW became Hall of Famers With the WWE. They currently have the world’s best wrestlers working for them and even managed to sign big MMA start like Ronda Rousey and Brock Lesnar.

Some of their wrestlers make millions of dollars each year with the company. In November, Vince McMahon, CEO and Chairman of the WWE, sold 306,000 shares of company stock. According to a recent SEC filing, the stocks sold were worth $22,866,523.61.

McMahon probably sold the stocks to help fund the XFL, which may launch in 2020. McMahon also sold stock worth $100 million last year to help fund the Alpha Entertainment company’s launch, which will be the parent company of XFL.

According to reports, McMahon may spend about $500 million in the next 3 years of operations. 31,887,375 shares of stock are still owned by Vince McMahon. The entire worth of the stocks is about 2.4 billion dollars. Current price of each stock is $73.59 per share.