Vince McMahon stepped down as chairman and CEO of World Wrestling Entertainment Friday morning due to an ongoing investigation.
Wrestlemania 23 will take place at Trump Tower in New York City. The photo was taken by Bryan Bedder.
According to a report from the Wall Street Journal, the 76-year-old McMahon was involved in an affair with a 41-year-old paralegal who received a $3 millionPayout in January.
McMahon's daughter was appointed as interim CEO and chairwoman of the company on Friday morning by a special committee.
According to emails obtained by the Wall Street Journal, McMahon hired the paralegal at a salary of $100,000, gave her a $100,000 raise as soon as their relationship started, and gave her a toy.
McMahon will stay on the company's creative team while the board investigates the allegations.
The personal attorney for Vince McMahon did not respond to an inquiry from Forbes.
McMahon said in the statement that he would do everything he could to support the investigation and that he would accept the findings and outcome of the investigation.
A billion dollars. In the midst of a battle for viewers with All Elite Wrestling, the World Wrestling Entertainment set a company record for revenue in the year of 2021.
Vince McMahon took over the company from his son in 1982. World Championship Wrestling, which the WWE bought in 2000, and Extreme Championship Wrestling, which it bought in 2003 all became part of the World Wrestling Entertainment. Forbes has a real-time tracker of McMahon's net worth. His tenure has come under scrutiny for sexist and racist storylines, including a 1998 instance of wrestlers performing in blackface. McMahon responded to complaints in the year 2015. Don't stop watching.
Vince McMahon steps down as CEO of the company.
Vince McMahon is under investigation for an alleged affair.
According to a report by Forbes, the press is being denied access to the McMahons.
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