Vince McMahon has long been one of the faces of Worldwide Wrestling Entertainment (WWE). He began as a promoter for his father’s company in 1971, working his way up to a position where he could purchase the Worldwide Wrestling Foundation in 1982. He turned the then-WWF into a multi-billion-dollar business. But after allegations of sexual misconduct and improper use of funds sent McMahon into retirement, he was looking to sell WWE. That deal resulted in a merger — WWE and UFC combined to form TKO Group Holdings.
The deal was worth $9.3 billion; with an equity stake of 38%, McMahon ended up with about a $3.5 billion share (pre-tax). And it turns out he’s still making plenty of money from the new company.
TKO announced it was offering a one-time dividend to all shareholders of record as of September 22. The dividend will be worth $3.86 per share and will be paid out on September 29. A regulatory finding shows that McMahon owns 28.84 million shares of the new combined business.
Quick: What’s $3.86 x 28.84 million?
Leon Halip/WireImage
Okay, we’ll do the math for you. It’s $111.3 million. Despite the title of executive chairman of TKO, McMahon doesn’t have quite as much sway as he did with WWE. Nevertheless, he’ll earn himself a nice little payday with this dividend.
If you’ve got some spare cash lying around, you can benefit from this dividend yourself by snagging some TKO shares before September 22. They’re currently trading at about $100 per share, so 10 shares would net you an extra $38.60. That’s maybe not quite as good as McMahon’s windfall, but it’s something.
However, TKO is not in the most enviable financial position. The company has taken on $3.2 billion in debt, including $2.7 billion due to UFC by 2026. TKO hopes the combined audiences of WWE and UFC will bring more fans to events, buy merch, and financially support the company. The collective star power between the two companies should also help secure more lucrative sponsorship opportunities.
McMahon may not have as much power with TKO as he’s used to. But with financial windfalls like this, does it really matter?
Read More: World News | Entertainment News | Celeb News
Celebrity Net Worth
