After 40 Years, WWE Supremo Vince McMahon Provides Devastating News to Fans

Published 07/22/2022, 4:41 PM EDT

 

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In a shocking turn of events, former WWE Chairman and CEO, Vince McMahon has announced his retirement. The 77-year-old billionaire will no longer oversee any form of WWE content, including Monday Night Raw and Friday Night SmackDown.

The $2.3 Billion worth Vince McMahon tweeted the news of his retirement in a way only he can; short and sweet! McMahon did not beat around the bush to deliver the news. He also thanked the WWE Universe, and reminded them he’s always there with them through WWE tagline’s – “Then, Now, Together, Forever.”

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Vince McMahon also released a full statement on his retirement via WWE.com. He expressed gratitude to the WWE Universe for giving him the privilege to entertain them over the years. In addition, Vince McMahon thanked his family, current WWE Superstars and former superstars for all the success WWE had over the decades.

McMahon also reassured the world that WWE will thrive. Furthermore, he revealed Stephanie McMahon (WWE Chairwoman) and Nick Khan (Current WWE President) will serve as Co-CEO’s of WWE.

WWE Gets Two New CEO’s as Vince McMahon Retires

While Vince stepped down from day to day activities, he continues to hold the majority shares in WWE (51%).

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He wrote, “I am extremely confident in the continued success of WWE, and I leave our company in the capable hands of an extraordinary group of Superstars, employees, and executives – in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan. As the majority shareholder, I will continue to support WWE in any way I can.”

The potential reason for Vince McMahon’s sudden retirement could be the Hush Money Allegations reported by the Wall Street Journal.

Vince McMahon founded Titan Sports in 1980. Furthermore, be founded the WWE in 1982 after buying out his father’s local wrestling promotion.

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The 77-Year-Old led the WWE ship for four long decades, before stepping down. His contribution to professional wrestling cannot be watched. It’s a massive statement, but it’s undeniable; Vince McMahon is the reason professional wrestling is as popular in the world as it is today!

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Ishan Chavan

779 articles

Ishan Chavan is a WWE and AEW author at EssentiallySports. Being a Journalism graduate, Ishan has over six years of experience in the Media Production Industry, having worked with Viacom 18's streaming platform, Voot. A wrestling fan since childhood, Ishan's favorite wrestlers are Daniel Bryan, AJ Styles, and Chris Jericho as he feels these three have the perfect blend of wrestling and promo skills, especially Jericho.

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