Report: Vince McMahon Paid $5 Million Of Unrecorded Funds To Trump Foundation
Sizable chunk of previously hidden contributions went to former president's 'charity.'
The revelations involving former WWE CEO Vince McMahon and unreported expenditures he made during the past several years continued this past week with news that he contributed $5 million to former US President Donald Trump's foundation.
The Wall Street Journal reported that McMahon gave $5 million to the now-dissolved Donald J. Trump Foundation in 2007 and 2009. Those contributions, disclosed in securities filings this month, are part of the $19.6 million in previously unrecorded company expenses McMahon paid, the bulk of which went to women who accused the former CEO and former head of talent relations John Laurinaitis of sexual misconduct.
According to the WSJ, WWE said in its filings that the $5 million was unrelated to the sexual misconduct allegations but didn't state its purpose.
In reporting on the Wall Street Journal's news, CNBC noted that the donations were made during years when Trump appeared on WWE programming. Of course, 2007 was WrestleMania 23's Battle of the Billionaires between Trump and McMahon.
According to the CNBC article:
The first of the two appearances resulted in a $1 million fee for Trump and a personal contribution from the McMahons of $4 million to his foundation. For his second appearance, Trump was paid $100,000 and McMahon and his wife, Linda, donated $1 million to the foundation.
McMahon retired from WWE last month as the barrage of allegations and reporting had ramped up this summer and the company's board launched an independent probe into the unrecorded expenses. Stephanie McMahon and Nick Khan have assumed the roles of co-CEOs, while Triple H is now heading up the talent relations and creative departments.
Vince and Trump have had a longstanding friendship: Trump Plaza was the site of WrestleManias 4 and 5; At Mania 23; And Vince's wife Linda served in the Trump Administration as his head of the Small Business Administration and currently chairs the pro-Trump America First Policy Institute.
The Trump Foundation was dissolved in 2018 as part of a settlement with the New York state attorney general's office following a lawsuit alleging that The Donald had misused charity funds for his 2016 presidential campaign, pay legal settlements and promote his business.