Vince McMahon, the former board member of TKO Holdings, has once again made headlines with the official sell-off of his TKO stock, offloading $100 million worth of TKO stock this time.
According to FWOnline, McMahon has continued his trend of selling off his TKO shares, recently pocketing close to $100 million by selling 3.5 million shares to an undisclosed bank over a 20-day period this month. This latest transaction was disclosed in SEC filings released on Thursday.
This marks McMahon’s third significant sale of TKO stock since November. Initially, he sold around 30% of his shares (8.4 million) for nearly $700 million. Subsequently, earlier this month, he divested 25% of his remaining shares for $408 million.
McMahon has received nearly $1.2 billion in revenue from these sales overall. The rationale for his disposal and the intended use of these substantial sums of money are still unknown.
McMahon continues to control 11.5 million TKO shares despite the sales; these shares are worth almost $1 billion based on Thursday’s closing market price of $86.41 per share. Investors are anxiously awaiting more developments as McMahon’s financial moves continue to get much attention.
