TKO Group Holdings owner, stock price, full form and net worth

TKO Group Holdings owner, stock price, full form and net worth

Know the owner details and stock price of TKO Group Holdings

In a monumental move that has sent shockwaves through the world of sports entertainment, the merger between the Ultimate Fighting Championship (UFC) and the World Wrestling Entertainment (WWE) has been officially completed.

Under the banner of TKO Group Holdings, this merger, spearheaded by parent company Endeavor, promises to reshape the landscape of combat sports and entertainment as we know it.

TKO Group Holdings owner, stock price, full form and net worth in 2023

Endeavor further solidified its position in the combat sports world when, in 2021, it launched an Initial Public Offering (IPO), making it a publicly traded company. 

The capital raised from the IPO was used to finalize the buyout of Zuffa, bringing the UFC under the complete ownership of Endeavor in March 2021.

The turning point for the WWE occurred in June 2022 when Vince McMahon, the long-standing CEO of the company, stepped down amidst allegations of hush money payments related to an affair. 

His daughter, Stephanie McMahon, assumed the role of executive chairwoman and co-CEO, alongside Nick Khan. However, seven months later, in January of the following year, Vince McMahon returned as the executive chairman, tasked with overseeing the sale of the WWE.

Advertisement

On April 3, 2023, WWE and Endeavor reached a historic agreement. WWE would merge with Zuffa to form TKO Group Holdings, a publicly-traded company listed on the New York Stock Exchange under the symbol “TKO.” 

Endeavor’s CEO, Ari Emanuel, took the helm as CEO of TKO Group Holdings. Fast forward to Tuesday, September 12, 2023, when this merger officially became a reality, with TKO Group Holdings trading on the NYSE for the very first time.

Vince McMahon, a prominent figure in the WWE’s history, retains a significant role in the new venture. Serving as the Executive Chair of TKO, McMahon possesses the authority to select five out of the eleven directors of the company and certain veto rights. 

Meanwhile, Dana White, former UFC President, steps into the role of CEO for the UFC under TKO, ensuring a smooth transition for both organizations.

Advertisement

In terms of ownership details, Endeavor holds a controlling interest of 51% in the newly formed company, while WWE shareholders own the remaining 49%, on a fully diluted basis. 

McMahon himself maintains a 34% ownership stake in the new entity. This marks a significant departure from the McMahon family’s historical majority ownership of WWE, which has been in place since its founding in 1953.

Advertisement

Its ticker symbol, TKO, is a reference to the short version of the term “technical knockout” that is used in combat sports and Endeavor owns a 51 percent controlling interest in the new company, with existing WWE shareholders owning a 49 percent interest.

The financial impact of this merger is substantial, with TKO Group Holdings currently valued at $102 per share on the NYSE. The potential for growth and market dominance is apparent, as highlighted by Vince McMahon himself, who envisions the combined entity as a “$21+ billion live sports and entertainment powerhouse” with a fanbase of over a billion people.

Shares of TKO started trading at $102 and rose to around $103.20 in late trading on Tuesday and that gives the company a valuation of roughly $21 billion.

ALSO READ: Video of Romina Riera girlfriend of Juan Francisco Rueda Ecuador football presenter goes viral on Twitter and Instagram

Advertisement

Topics: