Dwayne Johnson joins the board of TKO and is awarded huge payday

You may have known him as the moniker for years, but Dwayne Johnson can now finally legally be known as ‘The Rock’.

The now legal owner of the name, The Rock signed a new agreement with the professional wrestling organization, World Wrestling Entertainment (WWE).

As part of the agreement, the Hollywood star will join the board of the TKO Group.

READ MORE! Dwayne Johnson’s net worth is actually way more than you would ever guess

The TKO Group is the umbrella brand that covers both WWE and the Ultimate Fighting Championship (UFC).

TKO is said to be awarding Johnson a stock award valued at $30 million, vesting over time.

He’s already incredibly wealthy with a sprawling estate the size of a small town.

What’s more, his incredible car collection features a rare Pagani Huayra.

The moniker, as well as bringing royalties for merchandise associated with it, also has sentimental significance for the former WWE Superstar – who’s incredibly close to his family.

It was coined from the name of his father, Rocky Johnson, who was also a WWT Hall of Famer.

Alongside his partner, Tony Atlas, he was one of the first black WWE champions in its history.

But, far from being a nepo baby, alongside his wrestling career, he’s an actor and producer, owning Seven Bucks Productions.

He also branched out with tequila brand Teremana Tequila, energy drink company ZOA Energy, the Project Rock apparel brand, and the United Football League.

TKO chief executive Ariel Emanuel made a statement.

“I am thrilled to partner with Dwayne and welcome his immense talent to TKO’s board,” he said.

“Dwayne brings an incredible track record of creating content and building globally recognised consumer brands, and he will play a key role in realising our ambitions for TKO.”

Johnson’s board appointment is effective from Tuesday.

The brand claims that bringing him on board signifies its “commitment to delivering long-term value and strong performance for shareholders through strategic growth initiatives across both UFC and WWE”.

Johnson, who began his wrestling career with WWE almost 30 years ago in 1996, is rumored to be competing 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,” he commented on the news.

“I’ve been there, I’m still there and this is for them.”