TKO Group Holdings Inc., the parent company of World Wrestling Entertainment (WWE), has named professional wrestler and Hollywood actor Dwayne “The Rock” Johnson to its board following a $5 billion merger with streaming behemoth Netflix Inc.
“I am thrilled to partner with Dwayne and welcome his immense talent to TKO’s Board,” TKO CEO Ariel Emanuel said in a prepared statement. “Dwayne brings an incredible track record of creating content and building globally recognized consumer brands, and he will play a key role in realizing our ambitions for TKO.”
Johnson’s nomination to TKO Group Holdings Inc.’s board demonstrates the company’s commitment to producing long-term value and solid performance for shareholders through strategic growth plans in both UFC and WWE.
What is in it for Johnson in this new position? According to the Midland Daily News, WWE handed Johnson full control of his trademarked name, “The Rock.” TKO Group will also pay Johnson $30 million in stock awards to help market the brand. According to the Midland Daily News, the awards will vest in 2024 and 2025 respectively.
Johnson started his wrestling career with WWE in 1996. He derived the name “The Rock” from his father, WWE Hall of Famer Rocky Johnson, who was the first Black champion in WWE history alongside partner Tony Atlas. There are now reports that Johnson may compete at this year’s WrestleMania.
“I’m very motivated to help continue to globally expand our TKO, WWE, and UFC businesses as the worldwide leaders in sports and entertainment — while proudly representing so many phenomenal athletes and performers who show up every day putting in the hard work with their own two hands to make their dreams come true and deliver for our audiences,” Johnson said in a prepared statement. “I’ve been there, I’m still there and this is for them.”
Aside from wrestling and acting, he is also an entrepreneur. The professional wrestler turned entrepreneur has used his ring experience to help him succeed in business. He recently became the highest-paid Black celebrity on Instagram, according to Hopperhq data.
The Rock has been the highest-paid Black Instagram star since 2019. With over 147 million followers at the time, the actor and producer charged $882,000 for each post. In 2022, The Rock not only increased his followers but also doubled the money he charges for each post.
The Rock’s net worth is estimated at $800 million, thanks to his acting and entrepreneurial pursuits. Teremana Tequila is his own liquor brand, which he introduced in 2019. Despite the fact that he debuted in March, at the height of the coronavirus pandemic, he achieved record sales one year later.
According to Forbes, The Rock aims to establish a premium yet accessible brand. “When we first launched our Teremana brand, many people thought I was crazy for offering such high-quality tequila at such a low price, but the most important ‘P word’ in my business isn’t profit—it’s people.” “That’s why Teremana will always be the people’s tequila,” he explained.