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Vince McMahon is the Chairman and CEO of World Wrestling Entertainment, the largest wrestling company in the world. He controls 42% of the company's shares and 83% of the voting rights, making him the company's majority owner. McMahon is also an actor, a film producer, and a professional wrestler. He wrestled in the ring on occasion and has won the WWF and ECW World Championships. He has been awarded a star on the Hollywood Walk of Fame. Forbes estimates his net worth is $2.1 billion as of March 2021. As of 2020, WWE is worth approximately $5.71 Billion.
The younger son of Victoria and Vincent James McMahon, McMahon was born Vinnie Lupton and spent much of his childhood with his mother and a number of stepfathers. McMahon became interested in following in his father's footsteps in professional wrestling and frequently accompanied him to Madison Square Garden. McMahon aspired to be a wrestler, but his father refused to allow him, explaining that promoters were not supposed to appear on the show and should keep their wrestlers separate. He attended East Carolina University and earned a business degree in 1968.
In 1971, he started working for his father's company, Capitol Wrestling Corporation, as a ringside commentator. He bought the company from his father then, later on, made wrestling history on June 6, 1982, when he paid an estimated $1 million for the remaining portion of the WWF from his father's business partners, Gorilla Monsoon, Arnold Skaaland, and Phil Zacko. McMahon revolutionized the sport by showcasing his signature brash ambition and natural selling abilities. He molded wrestlers into child-friendly icons by integrating rock music and scripted matches into a rare mix of media and entertainment. Outside the ring, he enticed wrestlers away from rival companies and broke wrestling's long-standing regionalism by taking the company globally. Despite his many skeptics, McMahon's radical innovations revolutionized the sport and brought it into the mainstream. The WWF's cable shows and live events were huge successes, and by the mid-1980s, the organization had risen to the top of the wrestling world. Vince had complete control as a result, and he acknowledged in a 1991 Sports Illustrated article titled Wrestling With Success that his father would have disapproved of his ideas. After losing a trademark case filed by the World Wildlife Fund, the World Wrestling Federation declared on May 5, 2002, that it was changing both its corporate name and the name of its wrestling promotion to World Wrestling Entertainment (WWE).
McMahon's vast fortune has won him a spot on the Forbes 400 list of America's wealthiest people. In 2008, he was ranked 239th on this list. WWE went public in 1999 and he has been a billionaire since. The WWE shows are now broadcast in more than 150 countries and languages. World Wrestling Entertainment (WWE), which hauls in nearly $1 billion in annual revenue. Vince McMahon earned $5.6 million in salary, non-equity incentive scheme bonuses, and stock incentives from the WWE in 2018. Vince McMahon's bonus and stock options are not included in this compensation.
Vince McMahon is married to Linda, and they have two children and six grandchildren. Vince and Linda met when he was 16 and she was 13 years old. During their high school years, they dated. They married on August 26, 1966, only a few months after their graduation, when Linda was just 17 years old. Vince and Linda are both exceptionally well-versed in financial matters and understand how to build wealth. They are one of America's most rich and popular couples. Stephanie McMahon and Shane Brandon McMahon are their children. Stephanie McMahon is married to Triple H, a well-known WWE wrestler and executive. The McMahons work well together.
In 2001, McMahon diversified into the field of American football by forming the XFL, a professional football league in which he attempted to combine professional wrestling and professional football. In order to finance the new XFL, McMahon sold $100 million worth of WWE stock. The league, on the other hand, only lasted one season before being disbanded. McMahon invested heavily in the XFL in order to launch a stronger league in 2020. Its success is still being assessed.
His house in Greenwich is rumored to be worth $40 million. Vince also owns a $12 million Manhattan penthouse and the sports yacht Sexy Bitch. McMahon has contributed to a number of Republican Party causes, including America Rising, a polling and monitoring organization. The Boys & Girls Club of Stamford, Connecticut, and the Breast Cancer Alliance has also secured funding from his foundation. He gifted the Donald J. Trump Foundation $5 million. The McMahons also gave the Fishburne Military School, Sacred Heart University, and East Carolina University $8 million in grants.
Though he is no longer active in the day-to-day operations of the family company his duties are now taken care of by his son-in-law, Triple H. His net worth, like that of other billionaires, grew during the pandemic, with his net worth increasing by $177 million. He is responsible for the attitude era and success of actors and wrestlers like John Cena, Edge, and Dwayne "The Rock'" Johnson.
Sources: Forbes, WWE, Sportskeeda, Capitalism, Highsnobiety, Essentially Sports, Celebrity Net worth, Britannica
This article was updated on March 23rd, 2021 by Vanessa Shumbanhete
Earnings & Financial Data
Date |
Category |
Description |
Amount |
---|---|---|---|
2020 |
Earnings |
Extra income from pandemic |
$177,000,000 |
2020 |
Transfer Fees |
Cashed on $100 million worth of WWE stock in order to fund the new XFL |
$100,000,000 |
2019 |
Earnings |
Annual salary as the Chairman & CEO of WWE |
$1,400,000 |
2018 |
Salary |
Annual salary as the Chairman & CEO of WWE |
$1,400,000 |
2017 |
Salary |
Annual salary as the Chairman & CEO of WWE |
$1,400,000 |
2017 |
Earnings |
Overall compensation, which includes salaries, stock awards, non-equity incentive plan compensation and other compensation as the Chairman & CEO of WWE |
$3,090,000 |
2017 |
Earnings |
Earnings from WWE for the year 2017 |
$5,860,000 |
2016 |
Salary |
Annual salary as the Chairman & CEO of WWE |
$1,330,000 |
2016 |
Earnings |
Overall compensation, which includes salaries, stock awards, non-equity incentive plan compensation and other compensation as the Chairman & CEO of WWE |
$3,070,000 |
2016 |
Asset |
Purchase value of Vince McMahon's Bentley Continental GT 2010 that has an amazing sound system |
$300,000 |
2016 |
Earnings |
Salary, non equity incentive plan and other compensation from WWE for 2016 |
$3,000,000 |
2016 |
Sale of Asset |
Selling price of 2 million WWE Shares |
$40,000,000 |
2014 |
Asset |
Value of his 39,722,641 shares of WWE Entertainment (28.49$/share in April 2014) |
$1,130,000,000 |
2013 |
Salary |
Annual salary with WWE for the year 2013 |
$1,100,000 |
2013 |
Asset |
Value of his vacation home |
$20,000,000 |
2013 |
Asset |
Value of his penthouse in Manhattan |
$12,000,000 |
2013 |
Asset |
Value of his mansion in Greenwich, Connecticut |
$40,000,000 |
2011 |
Salary |
Annual salary with WWE for the year 2012 |
$1,100,000 |
2010 |
Salary |
Annual base salary with the three-year contract with WWE effective January 1, 2011 |
$1,100,000 |
2003 |
Asset |
Value of his 47.1 million shares of Class B common stock at the time |
$750,000,000 |
2002 |
Asset |
Purchase value of vacation home in Florida |
$2,146,000 |
2001 |
Asset |
Value of WCW upon purchase |
$5,000,000 |