Vince McMahon has retired from WWE with $3.4 billion in his pocket – and still holds voting control, despite paying out $14.6 million over sexual assault allegations.
McMahon, 77, still has voting control of the wrestling behemoth and the riches he’s made from it has left him a multi-billionaire according to Bloomberg.
Daughter Stephanie McMahon has taken his place as chairperson and co-CEO, with her husband Paul Levesque – AKA the former WWE star Triple H – on the board as well.
McMahon was being investigated by the company’s board for agreements to pay $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity, the Wall Street Journal had previously reported.
WWE has indicated that it may have to publicly restate its finances after learning that an eight-figure amount had been paid out to alleged McMahon victims.
An old claim that he raped a female referee in his limo has also resurfaced as a result of the fresh scandal.
Despite having paid out $14.6million in ‘unrecorded expenses’ amid multiple sexual misconduct allegations, Vince McMahon is leaving his beloved WWE with a lot left in his wallet
Daughter Stephanie McMahon has taken her place as chairperson and co-CEO
Stephanie’s husband Paul Levesque – AKA the former WWE star Triple H (pictured right) – on the board as well
McMahon, who will make the payments, last week announced his retirement as CEO and chairman, about a month after stepping back from those roles due to an investigation into his alleged misconduct.
‘Time for me to retire,’ McMahon wrote on Twitter on July 22. ‘Thank you, WWE Universe.’
It is unclear how McMahon’s retirement impacts the investigation into his alleged misconduct.
‘He loved the business,’ veteran wrestler Ric Flair told YouTube channel CCV Clips. ‘He made us all who we are.’
Many have speculated, according to Bloomberg, that McMahon may stay involved in the business, while others have wondered if WWE is for sale.
McMahon, who will make the payments, on Friday announced his retirement as CEO and chairman, about a month after stepping back from those roles due to an investigation into his alleged misconduct
It is unclear how McMahon’s retirement impacts the investigation into his alleged misconduct
Many have speculated, according to Bloomberg, that McMahon may stay involved in the business, while others have wondered if WWE is for sale
‘It is the first time that one could realistically think that WWE could be for sale,’ media analyst Alan Gould of Loop Capital Markets said.
The shares in the company owned by the McMahon family – which includes Vince, Stephanie and Vince’s wife, former Trump administration executive Linda McMahon – are worth a combined $1.9 billion.
He reportedly had an affair with a paralegal, and doubled the woman’s salary from $100,000 to $200,000 when it began.
After the pair cooled things off he then handed her a $3million payout, according to The Wall Street Journal.
The WWE board of directors, largely made up of the McMahon family, is investigating the payments made by Vince McMahon, and the regulatory filing says that it ‘remains ongoing.’
As a result of that investigation a decades-old claim that McMahon raped a woman in his limousine in 1992 resurfaced.
Rita Chatterton, now 64, the first female referee in the WWE, came forward to accuse McMahon of raping her in his limo in 1986.
Her allegation was recently corroborated by former wrestler Leonard Inzitari, who says he saw Chatterton after the alleged attack.
He said he had kept it a secret for decades in fear of being marginalized by McMahon and his family, who control the industry.
Inzitari, who went by the wrestling alias Mario Mancini, told Intelligencer: ‘I remember it like it was yesterday. She was a wreck. She was shaking. She was crying.
McMahon is married to Trump aide Linda McMahon, who served as the head of the Small Business Administration during Trump’s presidency
McMahon’s wife Linda with President Donald Trump in Mar-a-Lago in 2019. She now works at America First Institute
In 1992, Rita Chatterton, now 64, the first female referee in the WWE, came forward to accuse McMahon of raping her in his limo in 1986. She appeared on Gerald Rivera’s TV show
‘He’s dug himself such a deep hole that I’m just tired of it.’
Inzitari said Chatterton told him through sobs how McMahon ‘took his penis out’, forced her to perform oral sex on him, then forced himself ‘inside’ of her.
He recalled telling her: ‘You just keep your mouth shut, because it’s Vince McMahon. What are you gonna do, stooge on Vince McMahon? You’re gonna be blackballed from the wrestling business!’
Chatterton did not make her claim public for several years, making the allegation on Geraldo Rivera’s TV show in 1992.
McMahon gave her first major refereeing job in 1975, then, she claims, offered her a contract of $500,000 a year to referee on-screen.
During her interview Rira said: ‘At the time, I knew that’s a huge amount of money, but I didn’t know what the wrestlers were making.
She told Intelligencer that McMahon told her not to fraternize with any of the wrestlers, warning her: ‘Keep it clean. I don’t wanna see you messing around with any of the wrestlers. You keep it professional.’
McMahon has not commented on the allegations, suing her and Rivera, alleging that they were trying to bring him down and were spurred on by his enemies.
The lawsuit was discontinued without either side winning.