Vince McMahon sells $270 million worth of WWE stock

An SEC filing made by WWE has revealed that the company’s chairman Vince McMahon has unloaded another massive pile of the promotion’s shares.

 


 

According to the filling, The Boss has sold a total of 3,204,427 of the company’s shares. These shares are worth around $270 million in the market value.

It’s noted in the filling that the primary reason for this sale was to fund Alpha Entertainment LLC, the company Vince founded to oversee the relaunch of XFL.

Though despite the massive numbers, it appears that the sale doesn’t affect Vince’s position in WWE as he still owns 28,682,948 shares of WWE stock.

The number of stocks owned by the boss represents approximately 36.8% of the company’s total shares. They also represent 80.1% of the total voting power.

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