What If Vince McMahon Tries To Buy Back WWE? Who Really Owns The Company

WWE merged with UFC in September 2023 to form TKO Group Holdings, ending its family-run structure and valuing WWE at $9.3 billion.
Endeavor Group Holdings owns 51% of TKO, with WWE shareholders holding the remaining 49%, and Ari Emanuel serves as CEO of both Endeavor and TKO.
Vince McMahon resigned as TKO Executive Chairman in January 2024, sold his stock, and no longer holds control over WWE, marking the end of his ownership era.

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So, who really owns WWE? It’s a question many are asking, especially after Vince McMahon, the man who was synonymous with the company for 50 years, stepped away for good. The answer lies in a multi-layered corporate structure that marks a fundamental departure from its family-run roots.

The first part of the answer lies in a historic merger. In September 2023, WWE and UFC combined to create a new powerhouse company called TKO Group Holdings. This wasn’t just a business deal; it was the moment the professional wrestling landscape fundamentally shifted away from a single family’s control for the first time in over 70 years. WWE now operates as a subsidiary under this new public entity.

This merger valued WWE at $9.3 billion and established a new corporate hierarchy. At its completion, Endeavor Group Holdings, a global sports and entertainment firm, secured a 51% controlling interest in TKO, with existing WWE shareholders retaining the other 49%.

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Okay, so a new company, TKO, owns WWE, and Endeavor holds the power at the very top. But who is actually running the show day-to-day? That’s where the new leadership team comes in. Ari Emanuel, the CEO of Endeavor, also serves as the CEO of TKO Group Holdings. Within WWE itself, Nick Khan holds the position of President, while Paul “Triple H” Levesque operates as the Chief Content Officer, steering the on-screen creative product. In a significant move in January 2024, Dwayne “The Rock” Johnson also joined the TKO Board of Directors.

And what about Vince McMahon in all of this? His story is the final, crucial piece of the puzzle. Initially, McMahon served as the Executive Chairman of TKO. However, he resigned in January 2024 amid serious legal allegations. Since his departure, he has systematically sold off his stock in TKO, drastically reducing his financial stake and eliminating any remaining control over the company he built. His once-dominant voting power, maintained through a special class of stock, dissolved with the TKO formation.

So, while the McMahon name will forever be tied to the history of WWE, the future—and the ownership—is firmly in the hands of Endeavor and its new leadership team. The dynasty is over, and the corporate era has truly begun.