The Wrestling Observer is reporting that WWE Chairman and CEO Vince McMahon has officially sold a total of 2,181,894 shares of his WWE stock today. This number is worth a total of $30,300,659.
The report states that the official reason for McMahon selling the shares was due to purposes involving estate planning.
McMahon is now said to be left with a total of 37,080,747 shares of WWE stock, which represents approximately 48.8% of the company. Over the better part of the past 15 years, McMahon owned as much as 63% of company stock prior to sales over the past few years.
McMahon was further quoted as saying that aside from possible sales of stock currently located in his personal trust, which is what this sale represented, he currently has no plans to sell any further shares. Furthermore, McMahon also said that he intends to continue on in his role as WWE's Chairman and Chief Executive Officer "for the foreseeable future."