Vince McMahon is literally everything when it comes to the World Wrestling Entertainment. His involvement is everywhere starting from managing the corporate responsibilities to that of making matches. His determination to work is a must-see for young entrepreneurs who are willing to become a billionaire in the near future. Speaking of this, we should note that the WWE Chairman made it back to the Forbes’ published billionaires’ list, earlier this year.
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But he may not remain in the same position after selling out multiple shares of WWE stocks in recent times. Apparently, Vince McMahon has decided to leave a huge chunk of the WWE shares belonging to him. It happened in recent times raising the question of whether he remains the WWE Chairman or not. The fact that he possessed the most number of WWE shares cemented his spot in the top position for decades.
Nowadays, Vince McMahon looks to be more focused on funding the launch of XFL 2020. As the launch of the product comes closer, he wanted to invest more money into the product owned by Alpha Entertainment. The good news according to Fightful.com is that Vince McMahon will remain WWE Chairman despite selling a huge chunk of WWE shares. So he will continue to be the controller of the company, going forward.
Originally, Brandon Howard Thurston revealed on Twitter that Vince McMahon sold 3 million WWE shares,
“Vince McMahon today sold over 3 million shares of his WWE stock, a value of roughly $270 million. The sale was primarily to fund Alpha Entertainment/XFL. After the sale, Vince still has 36.8% of company stock and 80.1% of voting power.”
Vince McMahon today sold over 3 million shares of his WWE stock, a value of roughly $270 million. The sale was primarily to fund Alpha Entertainment/XFL. After the sale, Vince still has 36.8% of company stock and 80.1% of voting power.
8K: https://t.co/eE77tLRcxY pic.twitter.com/F3HUcNU6ag— Brandon Howard Thurston (@BrandonThurston) March 27, 2019
Speculations started running rampant that Vince McMahon might just decide to step down from his WWE Chairman role, going forward. He will also have to look after the XFL product after launch. It means his dual involvements in both WWE and XFL. At this age, it’s impossible for him to manage the tedious tasks of both these brands. But he informed the WWE stakeholders to keep his current position intact,
“Mr. McMahon has informed the Company that he has no current plan to sell additional 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.”
