Vince McMahon stepped down from all his roles at TKO, including executive chairman and board member, following serious allegations from a lawsuit filed by former WWE employee Janel Grant. McMahon has adamantly denied these accusations, but the fallout has clearly reshaped his standing in the company.
Despite his resignation, McMahon is still tied to TKO financially. According to an SEC 13G filing, the wrestling mogul retained 8,021,405 shares as of September 30, 2024. This accounts for 9.88% of the companys Class A stock. The filing was necessary due to his stake exceeding 5% ownership, which legally requires disclosure. However, theres a catch: McMahons influence is purely symbolic now, as he holds no voting rights within the company.
TKO COO Mark Shapiro recently shared in an interview that he had breakfast with McMahon, suggesting that while McMahon still has a presence, its clear hes no longer wielding power. As Shapiro emphasized, McMahons role in TKO is over.
But Vince isnt bowing out quietly. According to reports, McMahon is already plotting his next move with plans to launch a new entertainment hub company. The venture is expected to focus on funding and producing both fictional and non-fictional film and television projects. However, dont expect a WWE 2.0this project is set to steer away from wrestling and spotlight broader entertainment content.
With Vince McMahon stepping away from his role at TKO yet holding onto a significant stock share, the wrestling world is left wondering whats next for the titan who built WWE into a global empire. While his new entertainment hub could signal an ambitious pivot to Hollywood, only time will tell if McMahons future productions will capture the same magic that made him a household name.
What do you think about Vince McMahons exit from TKO and his potential new entertainment venture? Will he redefine himself in Hollywood, or is this a curtain call on his storied career? Share your thoughts and let us know if youd watch his next big project!
