Whether or not you can define WWE (World Wrestling Entertainment) as a sport is a question for another day. One thing is certain. However- it’s as lucrative as any other sport out there. WWE CEO, Vince McMahon would certainly agree. The American professional wrestling promoter and businessman has amassed a staggering $3 billion, most of which he has wrestling to thank for.
Vince McMahon’s Net Worth
It takes a lot to double your net worth in a year, but that’s exactly what Vince almost did in 2019, growing his net worth from $1.5 billion in 2018 to $3.2 billion in 2019. He was featured in Forbes’ list of billionaires at number 691, a positive leap after he lost $350 million in a day back in 2014.
Losing and making more than double $350 million may not have been in Mcmahon’s plans at an earlier age. He was born in North Carolina in 1945 and would later face several difficulties including an abusive stepfather and dyslexia. This didn’t stop him. He graduated from military school in 1964. He picked up a love for wrestling at the age of 12. His love would lead him to become a ring announcer in 1969.
Third Generation Promoter
Unsurprisingly, Vince is a third generation wrestling promoter. He purchased his father’s wrestling company and would transform it from a regional operation to a global operation. It became public in 1999.
Although his salary from his wrestling company was only $5.6 million in 2018, his bonuses and stock options were substantially higher. He owned 32 million WWE shares valued at $18, which meant that for every time the price of the shares rose by $1, he made $32 million. With WWE shown in 150 countries and translated into 30 languages, it’s no surprise how rich the stocks have made him.
From WWE to XFL
Vince, itching for more wins in the big leagues, cashed out on $100 million in WWE stocks to fund his professional American football league, XFL. The money was used for salaries of players, coach salaries and insurance policies.
Real Estate and Foundations
Vince and his family have several other properties which some report were purchased using stocks. Vince’s 10-acre mansion was purchased for $25 million. It is estimated to have increased to $40 million as of 2006. It is located in Greenwich, Connecticut and fondly named, Conyer’s Farm. His Florida home was purchased for $2 million back in 2002 and then converted into a two-story penthouse suite. He also owns a 4000 square feet penthouse in Stamford. The $4 million beauty is a few minutes from WWE headquarters, Titan Towers. It has three bedrooms, three bathrooms, and a private terrace.
Vince never forgets his humble beginnings. He grew up in a trailer with several domestic challenges which would lead to his father leaving his home when he was still a child. Vince and his wife, Linda, created the Vince and Linda McMahon Foundation in 2006. The foundation is focused on making an impact, particularly in Connecticut where they live. The foundation serves causes that help veterans, education, women, and families at risk. Since it was established, it has given away over $10 million. Vince and Linda were also top donors to the Trump Foundation. They donated $4 million to the foundation in 2007.
Other Athletes’ Net Worth
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