what happened to vince mcmahon
**Vince McMahon**, the former **CEO and chairman of WWE**, retired from his role in July 2022 amid a **hush money scandal**. It was revealed that he paid **$15 million** in hush money to several former company employees¹. This groundbreaking news shook the pro wrestling business, as McMahon had held his position since **1982**, transforming WWE from a regional wrestling territory into a publicly traded international conglomerate worth billions¹. His daughter, **Stephanie McMahon**, became co-CEO after his retirement, while Nick Khan joined as the other co-CEO. Meanwhile, McMahon’s son-in-law, **Paul Levesque** (known as Triple H), took over as head of creative. Despite stepping down, McMahon remains WWE’s majority shareholder¹⁴.
What is the hush money scandal?
The **hush money scandal** involving **Vince McMahon**, the former CEO and chairman of WWE, has been a significant development in the pro wrestling world. Let me provide you with the details:
1. **Initial Hush Money Payment**:
– In **June 2022**, it was revealed that McMahon paid a secret settlement of **$3 million** to a former employee with whom he allegedly had an affair⁴.
– The separation agreement prevented the unnamed employee from discussing her relationship with McMahon or disparaging him.
– This incident led to an investigation by WWE’s board.
2. **Broader Scandal**:
– The investigation uncovered other older nondisclosure agreements involving claims by former female WWE employees against McMahon.
– These agreements related to allegations of misconduct by McMahon and also implicated John Laurinaitis, the company’s head of talent relations⁴.
3. **Additional Payments**:
– Beyond the initial $3 million payment, McMahon reportedly made hush money payments totaling **$12 million** to four women.
– These women signed agreements prohibiting them from discussing potential legal claims against McMahon or their relationships with him.
– The payments date back at least 16 years and include allegations of sexual misconduct, coercion, and harassment⁵.
4. **Financial Impact**:
– In July 2023, it was revealed that McMahon paid a total of **$14.6 million** in hush money to several women between the years 2006 and 2022.
– These multi-million dollar payments were classified as “unrecorded expenses,” and WWE plans to restate its finances to reflect these expenditures⁶.
5. **Corporate Implications**:
– WWE’s board consists of executives and even members of McMahon’s own family, including his daughter Stephanie McMahon and her husband Paul Levesque (Triple H).
– Despite stepping down from his role as CEO, McMahon remains WWE’s majority shareholder⁴.
In summary, the hush money scandal has significantly impacted Vince McMahon’s legacy within WWE, raising questions about corporate governance and accountability. 🤼♂️💰
