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A report states that Ex-CEO Vince McMahon paid $5 million to Donald Trump's foundation

A report states that Ex-CEO Vince McMahon paid $5 million to Donald Trump's foundation

August 19, 2022: -Former World Wrestling Entertainment chief Vince McMahon gave $5 million of almost $20 million in unregistered expenses to Donald Trump’s foundation in 2007 and 2009, The Wall Street Journal report states.

The report comes weeks after McMahon quit as CEO of the company after investigations into his quiet charges related to alleged sexual misbehavior. WWE has stated that its board’s independent probe into the case is “substantially complete.”

While the majority of the $20 million in payments went to women who accused McMahon and one more WWE executive of sexual misconduct, another $5 million was used for unrelated purposes, according to a recent securities filing.

The $5 million came along with a charitable donation to the now-dissolved Donald J. Trump Foundation, the Journal reported, citing sources. The offerings were given during two years that Trump made appearances on televised WWE occasions.

The $5 million in allowance payments should have been cataloged as business expenses because McMahon was a principal shareholder, and the costs helped the company, an attorney for WWE told WSJ.

The first of the two formations result in a $1 million price for Trump and a personal contribution from the McMahons of $4 million to his foundation. For his second arrival, Trump expended $100,000, and McMahon and his wife, Linda, donated $1 million to the foundation.

While the $5 million was listed on the foundation tax recoveries as coming directly from WWE, the firm added.

Despite the left the company, Vince McMahon is still the top shareholder in WWE. He made the company from his father about 40 years ago and uplifted it into a global powerhouse. His daughter, Stephanie McMahon, now works as co-CEO and executive Nick Khan.

Linda McMahon has done as Small Business Administration chief in Trump’s Cabinet.

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