Relax, folks. The boss of all bosses is still in charge of the largest professional wrestling conglomerate in the world. No need to panic. (My feeling is that you weren’t panicking anyway.)
This week, Vince McMahon sold six percent of his WWE stock in a maneuver that is being described as “estate planning.” (The official word is: “for estate planning purposes for the benefit of Mr. McMahon and certain members of Mr. McMahon’s family.”) On Monday, Vinnie Mac sold 2,191,894 shares of his stock — a total of $38-39 million worth of the stuff. The SEC filing statement reads:
Mr. McMahon informed the Company that he has no current plans to sell any shares of the Company’s stock and that he intends to continue in his capacity as the Company’s Chairman and Chief Executive Officer for the foreseeable future.
Here’s an unofficial breakdown of who has what in the WWE pie.
Best I can count, here's the breakdown of $WWE ownership after Vince sold over 2 million shares (2.8% of WWE) today. pic.twitter.com/6X0ZcbERTm
— Brandon Thurston (@BrandonThurston) May 17, 2016
As you can see, Vince still owns almost 50% of the company, so his power has diminished in no way. McMahon still has 37,080,747 shares, or 48.8% of WWE in his pocket. So, for the foreseeable future, when Vinnie Mac yells “You’re fired!” you can best believe that his word is as good as gold. Or, at least, 48.8 percent of gold.
(via Wrestling Inc.)
