Vince McMahon has made huge money today off stock gains following his WWE retirement, as seen in a tweet below revealing the exact amount.
Vince McMahon recently got involved in a fresh controversy. The latest Wall Street Journal story on Vince alleged that he paid at least 4 women over 16 years to cover up sexual misconduct. After the report about additional non-disclosure agreements that were signed to keep women quiet, many are wondering if more people will come out with accusations. Vince reportedly reacted to the allegations. The Wall Street Journal recently posted another story on Vince McMahon and this one alleges that McMahon paid $12 million in hush money.
https://mobile.twitter.com/BrandonThurston/status/1551637863787380738
It does not appear any more women signed NDAs. There could be others who didn’t want to burn bridges with WWE who decided against seeking a settlement. It remains to be seen if any will speak out. It turns out Vince is no selling the matter. While many might think this has affected sponsors, that is not the case. It has also come to light that Vince might not be under too much pressure. The latest Wall Street Journal story on Vince doesn’t appear to have much of an effect on WWE business and McMahon seems to be not bothered by anything. It also seems that Vince does not have pressure on him. Now some unrecorded expenses have been noted by the company.
WWE reveals unrecorded expense
WWE announced today in a regulatory statement on their corporate website that due to “certain unrecorded expenses” by Vince McMahon, they would restate several financial statements that date back to 2006. It has been noted that the statements from 2019, 2020, 2021 and 2022 have been revised and show an expense total of $14.6 million that McMahon will have to pay back.
Per the regulatory filing, “All payments underlying the Unrecorded Expenses were or will be paid by Vince McMahon personally.”
The filing also indicates that the company is facing investigations related to McMahon’s payments that were reportedly to former female employees who McMahon had personal relationships with. The filing states that WWE “has also received, and may receive in the future, regulatory, investigative and enforcement inquiries, subpoenas or demands arising from, related to, or in connection with these matters.”
Vince McMahon recently shocked the pro wrestling world with his announcement. He announced that he is retiring from his roles as Chairman and CEO of WWE. It was later clarified that he was also done with his work on creative.
