Key Stats
WWE is owned by TKO Group Holdings (NYSE: TKO), which reported $2.804 billion in total revenue for 2024.
Endeavor Group Holdings controls approximately 61% of TKO after acquiring IMG, On Location, and PBR in February 2025.
Silver Lake Partners took Endeavor private in March 2025, making it the indirect controller of TKO.
TKO’s market capitalization reached approximately $36.5 billion as of mid-2025.
WWE is owned by TKO Group Holdings, a publicly traded sports and entertainment company controlled by Endeavor Group Holdings. Endeavor itself was taken private by Silver Lake Partners in March 2025, meaning the private equity firm now sits atop the ownership chain — though TKO still trades on the New York Stock Exchange.
WWE generated $556.2 million in revenue during the first half of 2025 alone, boosted by a landmark deal that moved its flagship show Raw to Netflix in January 2025. The company organizes over 300 live events annually, reaching more than 210 countries. Nick Khan runs WWE as its president, while Paul “Triple H” Levesque leads creative and talent development. TKO also owns the Ultimate Fighting Championship, Professional Bull Riders, and — since February 2025 — sports marketing agency IMG and hospitality firm On Location.
Who Owns WWE?
WWE has not been an independent company since September 2023, when it merged with UFC to form TKO Group Holdings. The McMahon family no longer controls the business. Instead, ownership flows through a layered structure with several major stakeholders.
TKO Group Holdings and Endeavor
Endeavor Group Holdings holds about 61% of TKO through a combination of Class A common stock and Class B units. This majority stake gives Endeavor — and by extension Silver Lake, which owns Endeavor — effective control over both WWE and UFC. The remaining ~39% of TKO belongs to public shareholders, including institutional investors who buy and sell TKO stock on the open market. Ari Emanuel serves as CEO of both Endeavor and TKO, with Mark Shapiro as TKO’s president and COO.
Vince McMahon’s Exit
When TKO formed in September 2023, Vince McMahon personally owned roughly one-third of TKO’s Class A stock and served as executive chairman. He resigned from the board in January 2024 after a sex trafficking lawsuit by a former WWE employee. Since then, McMahon has sold over $2 billion in TKO shares, reducing his stake to approximately 3% as of mid-2025. The McMahon family’s seven-decade grip on WWE is effectively over.
Who Is on the Board of Directors for WWE?
WWE no longer has its own independent board. Governance sits with TKO Group Holdings’ board of directors, which oversees both WWE and UFC operations alongside the company’s newer acquisitions.
Executive Leadership
Ari Emanuel chairs TKO’s board and serves as its CEO. Emanuel co-founded Endeavor (originally the William Morris Agency merger) and built it into one of the largest talent and sports management companies in the world. Mark Shapiro, TKO’s president and COO, handles day-to-day business operations across all TKO properties. Dana White, who holds about 9% of TKO, runs UFC as its CEO and president.
WWE-Specific Leadership
Nick Khan is president of WWE, overseeing business operations, media deals, and partnerships. Khan negotiated the Raw-to-Netflix deal and the company’s other media rights agreements. Paul Levesque (Triple H) heads WWE’s creative team and talent development. Stephanie McMahon-Levesque, Vince’s daughter and former chief brand officer, stepped down from her role after the TKO merger.
Board Composition
TKO’s board initially had 11 members after the merger, expanded to 13, then dropped to 12 after McMahon’s resignation. Dwayne “The Rock” Johnson joined the board in 2024. Other members include representatives from Endeavor, Silver Lake, and independent directors with backgrounds in media and finance.
Largest Shareholders of TKO Group Holdings
Because WWE merged into TKO, its shareholders are now TKO shareholders. The company’s ownership breaks down into Endeavor’s controlling stake, individual stakeholders like Dana White, and institutional investors.
TKO Group Holdings Ownership (Approximate, Mid-2025)
Institutional Investors
The public float is held by a mix of institutional and retail investors. Major asset managers including Vanguard Group, BlackRock, and State Street hold positions through index funds and ETFs. TKO’s board authorized a $2 billion share repurchase program in late 2024 and began paying quarterly cash dividends in early 2025 — moves designed to attract and retain institutional capital.
Revenue Breakdown by Segment
TKO now operates three reportable segments: UFC, WWE, and IMG (which includes On Location). For the first half of 2025, WWE generated $556.2 million in revenue — a significant jump driven by the Netflix media rights deal. UFC brought in $415.9 million. IMG contributed $306.6 million in its first partial period under TKO. The company projects total 2025 revenue between $4.63 billion and $4.69 billion across all segments.
History of WWE Founders and Ownership
The McMahon Dynasty
WWE traces its roots to 1952, when Jess McMahon and Toots Mondt founded the Capitol Wrestling Corporation in the northeastern United States. Jess’s son, Vincent J. McMahon, took over and turned the regional promotion into the centerpiece of the World Wide Wrestling Federation (WWWF). In 1982, his son — Vincent Kennedy McMahon — purchased the company from his father and began an aggressive national expansion that broke the traditional territorial system of professional wrestling.
Under Vince McMahon Jr., the renamed WWF (later WWE after a legal dispute with the World Wildlife Fund) grew into a global entertainment brand. The company went public on the NYSE in October 1999 under the ticker symbol WWE, though the McMahon family retained voting control. Key programming innovations like WrestleMania, Raw, and SmackDown turned pro wrestling into mainstream television. Disney, Comcast’s NBCUniversal, and Fox all bid for WWE’s media rights over the years.
WWE Ownership Timeline
The TKO Merger
In April 2023, Endeavor and WWE announced a merger that would combine WWE and UFC under a single publicly traded entity. The deal closed in September 2023, creating TKO Group Holdings at a combined valuation of roughly $21 billion. It was the first time in over 70 years that WWE was not majority-controlled by the McMahon family. Since then, TKO has expanded rapidly — acquiring IMG and PBR from Endeavor, launching Zuffa Boxing, and agreeing to purchase Mexican wrestling promotion Lucha Libre AAA.
FAQs
Who owns WWE now?
TKO Group Holdings owns WWE. Endeavor Group Holdings controls about 61% of TKO, and Silver Lake Partners owns Endeavor after taking it private in March 2025.
Is Vince McMahon still involved with WWE?
No. McMahon resigned from TKO’s board in January 2024 and has sold most of his shares. His stake is now around 3%, with no operational role.
Is WWE still a publicly traded company?
WWE itself is not independently traded. It is part of TKO Group Holdings, which trades on the NYSE under the ticker TKO.
Who is the CEO of WWE?
Nick Khan is president of WWE. Ari Emanuel is CEO of TKO Group Holdings, the parent company that owns WWE and UFC.
Why did WWE merge with UFC?
The merger combined two leading combat sports brands to gain stronger media rights leverage, shared operational costs, and broader global distribution across 210 countries.