WWE Chairman and CEO Vince McMahon continues to sell some of his stock in his professional wrestling empire. Back on November 30th McMahon unloaded 306 shares of company stock. Per WWE’s SEC filing, McMahon made $22,866,523.61 from the sale. After the sale, McMahon still owns 31,887,375 shares of the company stock. At the current price of $73.59 per share, that values McMahon’s shares at $2.4 billion.
It’s possible McMahon’s recent selling of his shares could be in order to help fund his XFL relaunch in 2020. The league is expected to make an official announcement on the eight cities that will be receiving teams for the new football league. Last year, McMahon sold $100 million worth of stock in order to fund the XFL’s parent company, Alpha Entertainment.
He has also reportedly told people that he plans on spending as much as $500 million in the first three years of the XFL’s operations. With that being said, McMahon still owns a hefty amount of WWE stock after the sale. However, should he decide to completely sell out, he’d become an even wealthier man than he already is with a $2.4 billion value on his current stock.
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