At the age of 77, World Wrestling Entertainment's CEO and Chairman, Vince McMahon, made his retirement announcement on Friday.
He founded and owns Alpha Entertainment as well.
The announcement comes a month after McMahon resigned from his position as CEO amid claims that he gave former workers hush money worth up to $12 million.
McMahon, who was raised in Pinehurst, North Carolina, earned a business degree from East Carolina University in 1968.
McMahon has started a number of projects relating to the WWE. He introduced the WWE Network, a pay-per-view over-the-top streaming service, in 2014.
In addition, McMahon controls a professional wrestling academy and more WWE multimedia companies.
In addition to wrestling, McMahon twice co-owned and ran the XFL, a football league.
He co-owns the clothing company Tapout and served as president of the World Bodybuilding Federation, which was very briefly active.
On June 17, 2022, McMahon resigned from his position as chairman and CEO of WWE after being accused of having an affair and paying USD 3 million in hush money.
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