McMahon, whose longtime friends include Donald Trump, became a character in his own wrestling promotions at one stage and even launched a rival to the NFL – his over-the-top XFL. “As I approach 77 years old, I feel it’s time for me to retire as chairman and CEO of WWE,” McMahon said in a statement. “Throughout the years, it has been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you.” McMahon stepped down from his roles with WWE last month pending the results of an internal investigation after allegations he had an affair with an employee and paid her $3 million to keep the matter secret.

His daughter Stephanie was named interim CEO and chairman while the ongoing investigation continues – amid widening allegations of misconduct. The Wall Street Journal reported two weeks ago that McMahon has paid more than $12 million to four women formerly associated with WWE over the past 16 years to keep quiet about affairs and alleged misconduct, including a former female wrestler who claims he coerced her into oral sex. After taking over from his father, also named Vince, and grandfather Jess, McMahon transformed the WWE from its regional beginnings, into a publicly traded international enterprise with hundreds of employees in offices worldwide. As he took the sport global, the younger McMahon delivered a unique and colorful brand of wrestling, recruiting the likes of Hulk Hogan – who went on to become a megastar far beyond his ring performances.

WWE wrestlers became cultural icons as Vinca McMahon used music and storytelling to introduce his stars into mainstream culture, delivering major events such as the first Wrestlemania in 1985 at New York’s Madison Square Garden. “The Rock” went from WWE icon to Hollywood superstar while “Captain” Lou Albano was in a Cyndi Lauper music video, and Hogan had star turns alongside Mr. T and Sylvester Stallone in a prime example of the crossover star mix that McMahon delivered. McMahon also has longstanding ties to the celebrity-turned-president Donald Trump, who is a WWE Hall of Fame inductee – and who gave  McMahon’s wife Linda a government role as head of the small business administration. At the culmination of a staged feud, Trump once famously body-slammed the WWE boss, and shaved his head in the middle of a wrestling ring on live television.