Following Stephanie McMahon's resignation as chair of the WWE board and her father Vince McMahon's return as chairman, word of the story spread quickly.
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According to numerous rumors, WWE has been sold to Saudi Arabia’s Public Investment Fund. Just hours after Stephanie McMahon resigned as the head of the WWE board and her father, Vince McMahon, took over as chairman, word of the story spread.
According to a report by Dazn pro-wrestling writer Steven Muehlhausen, Vince decided to turn the firm back into a private corporation. Titan Sports, the previous owner of WWE, submitted an Initial Public Offering (IPO) application and listed the business on the New York Stock Exchange in 1999.
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Following the revelation of allegations of sexual misconduct against him, Vince resigned as the chairman in July 2021. According to the Wall Street Journal, he had covered up allegations of sexual misconduct and infidelity for more than 16 years by paying four women connected to the company more than $12 million.
After her father’s resignation, Stephanie was named co-CEO and chairwoman of WWE. Nick Kahn, her co-CEO, is the sole CEO of WWE. Paul “Triple H” Levesque, a former wrestler and Stephanie’s husband, will stay on as the organization’s chief content officer.
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