Nick Khan’s 2025 Earnings Revealed in TKO Filing

TKO Group Holdings has officially released its 2025 proxy statement — and it lays out exactly how much top executives made, including a massive payday for Nick Khan.

The filing shows Khan earned a total of $24.3 million in 2025, with the bulk of that coming from bonuses and stock awards rather than his base salary. While his base pay sat at $2 million, the rest of his compensation was heavily tied to performance and company growth.

At the top of the ladder, TKO CEO Ari Emanuel brought in $67.4 million, while TKO President Mark Shapiro earned $42.6 million — putting Khan’s earnings firmly in line with the company’s leadership structure. According to the filing, Khan’s bonuses were directly tied to WWE’s financial performance, particularly Adjusted EBITDA, along with other factors that influenced executive compensation decisions.

“For fiscal year 2025, Mr. Khan’s bonus award value was determined taking into account Adjusted EBITDA for WWE as the primary, but not only, consideration. As a result, Mr. Khan received an annual bonus payment of ,000,000.”

On top of that, Nick Khan also received a significant discretionary bonus tied to expansion efforts — specifically the company’s move into boxing-related ventures.

“In addition to the annual bonus, Mr. Emanuel determined that Mr. Khan should receive an additional discretionary bonus in the amount of ,750,000 due to the successful launch of our boxing-related businesses. The aggregate amount of such bonuses for Mr. Khan in fiscal year 2025 is included in the ‘All Other Compensation’ column of the ‘Compensation of Our Directors’ Table above.”

Equity played a major role in boosting Khan’s total earnings as well, with multiple stock grants issued throughout the year based on company performance.

“For fiscal year 2025, Mr. Khan’s equity award value was determined taking into account Adjusted EBITDA for WWE as the primary, but not only, consideration. As a result, Mr. Khan received an award of RSUs with a value of approximately ,000,000.”

The filing also details how those stock units will vest over time, including multiple tranches scheduled between 2026 and 2029 — meaning Khan’s long-term earnings potential remains tied to TKO’s continued success.

Beyond salary, bonuses, and stock, Khan also participated in company benefit plans available to similarly positioned executives, rounding out his total compensation package.

Bottom line — while Khan’s base salary sits at $2 million, performance bonuses, equity awards, and discretionary payouts pushed his total 2025 earnings past $24 million, reflecting WWE’s strong financial performance under the TKO umbrella.

Do you think Nick Khan’s $24.3 million payday is justified based on WWE’s growth under TKO, or does that number feel too high? Let us know your thoughts.