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Vince McMahon's net worth set to explode just days after WrestleMania despite WWE resignation

Vince McMahon's net worth set to explode just days after WrestleMania despite WWE resignation

Vince McMahon is no longer involved in WWE but he is set to make a hefty sum this week.

Vince McMahon is set to make a whopping $300 million despite no longer being involved in WWE in any capacity.

WWE held the first WrestleMania event without the 78-year-old this weekend, with the two-night show taking place at Lincoln Financial Field in Philadelphia.

It was the 40th edition of the event which McMahon first created in 1985 and his personal trainer took to Instagram to fume about him being "unable to attend".

In January, McMahon resigned from his position as executive chairman on the TKO board following serious allegations of sexual abuse and sex trafficking.

The company has been thriving without him but on Monday it emerged that McMahon has been selling a whole lot of shares in TKO.

As reported in a SEC filing, there are two agreements which look set to net McMahon around $293 million.

Endeavor will buy 1,642,970 shares for $142.6 million, while TKO is purchasing 1,853,724 stocks for around $150 million.

The share price is currently $89.01 and both deals are expected to be concluded by Wednesday.

Image: Getty
Image: Getty

McMahon, with an estimated net worth of $2.7 billion, has been selling shares aplenty in recent times, with his sale count coming to five once the aforementioned two agreed have been finalised.

He will have netted nearly $1.8 billion from the sales, whilst still holding around eight million shares.

The former WWE champion will retain a 4.7% ownership of TKO and does not need to publicly file SEC reports going forward.

That's because stockholders who own less than five per cent of a publicly traded company are not obliged to do so.

Image: Getty
Image: Getty

McMahon's estranged wife Linda and daughter Stephanie were present over WrestleMania weekend, with the latter opening the show on night two in Philly.

Paul 'Triple H' Levesque, McMahon's son-in-law, is spearheading the new era of WWE as chief content officer and head of creative.

Featured Image Credit: Getty

Topics: Vince McMahon, WWE, WrestleMania, Triple H