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Vince McMahon paid $5 million to Donald Trump’s foundation, WWE finds

Vince McMahon (L) and Donald Trump attend a press convention concerning the WWE on the Austin Straubel Worldwide Airport on June 22, 2009 in Inexperienced Bay, Wisconsin.

Mark A. Wallenfang | Getty Photos Leisure | Getty Photos

Former World Wrestling Leisure boss Vince McMahon paid $5 million of round $20 million beforehand unrecorded bills to Donald Trump’s basis in 2007 and 2009, in keeping with a new report from The Wall Street Journal.

The report comes weeks after McMahon retired as CEO of the corporate amid investigations into hush funds he made associated to alleged sexual misconduct. WWE has since mentioned its board’s impartial probe into the matter is “considerably full.”

Whereas nearly all of the $20 million in funds went to girls who accused McMahon and one other WWE govt of sexual misconduct, one other $5 million was used for unrelated functions, in keeping with a latest securities submitting.

The $5 million represented charitable donations to the now-dissolved Donald J. Trump Basis, the Journal reported, citing sources. The donations got throughout two years that Trump made appearances on televised WWE occasions.

The WWE did not instantly return a request for remark.

Trump dissolved this basis as a part of a settlement with the New York state lawyer common’s workplace in 2018, when a lawsuit alleged Trump had misused the charity’s funds for his 2016 presidential marketing campaign, to pay authorized settlements and promote his enterprise.

This information comes lower than a month after the Securities and Change Fee and federal prosecutors launched probes into the $14.6 million in funds made by McMahon to settle allegations of sexual misconduct.

The $5 million in contribution funds ought to have been cataloged as enterprise bills, as a result of McMahon was a principal shareholder and the funds benefited the corporate, an lawyer for WWE advised WSJ.

The primary of the 2 appearances resulted in a $1 million price for Trump and a private contribution from the McMahons of $4 million to his basis. For his second look, Trump was paid $100,000 and McMahon and his spouse, Linda, donated $1 million to the muse.

Whereas the $5 million was listed on the muse tax returns as coming instantly from WWE, the corporate mentioned in its safety filings this month that the funds got here instantly from McMahon personally.

Vince McMahon remains to be the highest shareholder in WWE regardless of having left the corporate. He purchased the comapny from his father about 40 years in the past and turned it into a world powerhouse. His daughter, Stephanie McMahon, is now working as co-CEO, together with govt Nick Khan.

Linda McMahon served as Small Enterprise Administration chief in Trump’s Cupboard. Trump, who hosted two Wrestlemania occasions in Atlantic Metropolis within the Nineteen Eighties, is enshrined within the WWE’s Corridor of Fame.

Read the full report from The Wall Street Journal.



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Source: https://www.cnbc.com/2022/08/17/vince-mcmahon-paid-5-million-to-donald-trumps-foundation-wwe-finds.html

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