How Is Vince McMahon Net Worth Is $2.4 Billion?

Early Life

On August 24, 1945, Vince McMahon was born in Pinehurst, North Carolina. While he was still a baby, Vincent James McMahon, his father, abandoned the family. Vince had no idea who his father had become until he was 12 years old. In addition to a succession of stepfathers, Vince was reared by his mother, Victoria. In 1964, McMahon graduated from Fishburne Military School, where he was diagnosed with dyslexia and learning difficulties. In 1968, he graduated from East Carolina University with a business degree.

WWE

Vince McMahon

In addition to becoming the CEO and Chairman of World Wrestling Entertainment (WWE), Vince is best known for being the son of WWE founder Vince McMahon. In 1971, McMahon was given the task of promoting a minor wrestling show for his father, who was still in the wrestling business at the time. During his time with All-Star Wrestling, Vince was the ring announcer and the go-to play-by-play commentator. Over time, he helped his father’s company triple TV syndication and became an increasingly important member of the team.

After his father died in 1984, McMahon and his wife took over the company, which was still rather small at the time. Using the support of Hulk Hogan, he was able to establish the company’s identity. Rock and Wrestling Connection, conceived by Vince McMahon, drew pop stars into the stories and broadened the audience for professional wrestling.

They soon followed Wrestlemania as well as many other innovative promotions. When McMahon developed the WWF into a distinct type of sports entertainment, he helped make wrestling a household name. At one point in time the WWF was the world’s most valuable wrestling promotion, but today it’s worth billions.

Other Ventures

McMahon has dabbled in the ring on occasion, winning the WWF and ECW World Championships in the process. A star on the Hollywood Walk of Fame has been bestowed upon him. There are two of Shane and Stephanie McMahon’s children that have been quite active in the company both on and off camera, as well. He was married to Linda McMahon, who was also involved with the WWE and who was selected by President Trump as Administrator of the Small Business Administration last year.

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Feuds

Stone Cold Steve Austin and WWE manager Vince McMahon have been feuding since December 1997. It all started when McMahon brought up Austin’s alleged attacks on him and other commentators during an on-air interview. When Austin was crowned WWF Champion again in the fall of 1998, Vince McMahon declared on air that he was “sick and tired” of the situation and that he had devised a “master plan to remove the championship” from Austin. After that, Austin attacked McMahon with a Zamboni he had driven into the WWF arena. After then, he was arrested.

In January 2007, Vince also began a well-publicized battle with Donald Trump. In the end, Trump and McMahon agreed to have a wrestler represent each of them in the match after Trump threatened to attack McMahon personally. The wrestler that was fighting for McMahon was defeated in the match.

Real Estate and Personal Life

On August 26, 1966, Vince McMahon married Linda McMahon in North Carolina. When they were teenagers, they ran into each other at church. They have six grandkids and two children, Shane and Stephanie, who have both worked in the family business. Vince and his family live in Greenwich, Connecticut, which is about a 30-minute drive from WWE headquarters in Stamford, Connecticut. One estimate places the value of his Greenwich, Connecticut home at $40,000,000. He’s also owned a $12 million Manhattan apartment and a sports yacht dubbed “Sexy Bitch” before.

At one time, McMahon pretended to be dead. On June 11, 2007, WWE broadcast a clip in which Vince was seen entering a limo just before it detonated. McMahon was assumed deceased after the show was turned to “off air” June 25, 2007, was the date when McMahon admitted he was not dead but that the death was a plot device in his fictional character’s narrative. He insisted that he staged his demise to find out what the public thought of him in real life.

He has given to numerous Republican Party organizations, notably the research and tracking organization America Rising. Donald Trump’s foundation received a $5 million donation from him. Sacred Heart University, East Carolina University, and Fishburne Military School all received grants totaling $8 million from the McMahons.

In 1992, McMahon was accused of sexually assaulting Rita Chatterton, a former WWF referee, in a 1986 incident. A Boca Raton, Florida, bartender accused him of sexual harassment in 2006, and the case was eventually dropped. There were no legal proceedings in either case.

How Many Shares of WWE Does Vince McMahon Own?

Vince has 28.7 million shares of WWE stock as of the time of this writing. He holds 37% of WWE’s total outstanding shares and 80% of the company’s voting power through his class B shares.

Share prices hit an all-time high of $96, making his shares worth $2.76 billion in April 2019. WWE stock lost around half of its value during the next six months. After taxes, Vince’s holding in WWE stock was worth $1.2 billion as of February 2020, when the company was trading at $44. Vince made about $100 million after selling 3.34 million shares in December 2017.

A portion of the proceeds from the share sale will go toward relaunching the XFL football league, which he announced earlier this week. Vince sold 3.2 million shares for $272 million in April 2019, when the stock was at an all-time high. His timing couldn’t have been better, since he had just arrived at the right place and time. A few months later, those same shares would have been worth half as much. Alpha Entertainment, his wholly-owned corporation, received profits from both sales. It’s rumored that he aims to invest $500 million of his own money in the XFL’s new franchise.

Vince McMahon Net Worth

Vince McMahon is an American professional wrestler, promoter, commentator, film producer, and occasional wrestler. Vince McMahon net worth is $1.8 billion. Vince became rich and famous as the CEO of World Wrestling Entertainment, or WWE. On July 22nd, 2022, Vince McMahon announced his retirement from WWE due to the company’s long-running sexual harassment issue.

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