Does Vince McMahon still own WWE?

Former WWE CEO Vince McMahon is a name that is currently trending worldwide, especially after the release of the Mr. McMahon docuseries on Netflix. He is the force behind making WWE a worldwide and launching pro wrestling into the mainstream. For decades, the former CEO was the company's head honcho, serving as the chief behind everything on and off the screen.

However, Vince McMahon does not own WWE anymore and is no longer the majority stakeholder in the promotion. He is also not associated with the day-to-day functioning of the business.

McMahon had to announce his retirement from the company amid allegations of him paying hush money to some of his employees in July 2022. However, he returned the following year as a member of the WWE Board of Directors and sold the billion-dollar company to Endeavor Group Holdings. Mr. McMahon became the Executive Chairman of the new entity and served for a while until the Janel Grant lawsuit came to the fore.

As a result, he stepped down from his position as TKO's Executive Chairman. In the aftermath of the allegations and investigations that ensued, Vince McMahon sold all his shares and officially ended his ties with WWE. He is no longer associated with the Stamford-based promotion in any capacity. Nick Khan is currently serving as the President of WWE.

What impact did Vince McMahon create in WWE?

Although Vince McMahon has had many ups and downs in life, one cannot ignore the impact he has had in building WWE as a billion-dollar brand. Back in the 1970s and 1980s, when wrestling was not regarded as a popular sport, Mr. McMahon came up with a vision to popularize it.

The 79-year-old bought the company from his father in 1982, which was earlier known as Capitol Wrestling Corporation. He is the very reason behind the expansion of the promotion across the country over the subsequent years.

Throughout the years, Vince McMahon established WWE as a premium source of entertainment worldwide. Not only did he popularize pro wrestling, but he also created stars and legends who went on to become household names.

It also goes without saying that under Vince McMahon's leadership, the company put WCW out of business and became the leader in the pro wrestling industry.