Vince McMahon is not only a revered name in the world of wrestling but also one of its richest individuals alive. Renowned as the CEO of the World Wrestling Entertainment (WWE), McMahon’s rising net worth has not ceased to capture the attention of the media. Having taken over from his father, Vince has succeeded in building the WWE into a global empire, attracting worldwide attention and becoming the darling of extreme sports lovers. More recently, questions about his actual net worth and how he made all that money has been on the rise. While it’s no news that Vince McMahon has raked in tons of money from wrestling, his exact net worth and the how behind all that billions still eludes many. This article puts an end to that mystery. Let’s tell you more about one of the most successful businessmen in the world.
Vince McMahon’s Early Days
Vince McMahon, whose birth name is Vincent Kennedy McMahon, was born on the 24th of August 1945 in Pinehurst, North Carolina. According to sources, he grew up with his mother, Victoria and a string of stepfathers. The reason, as McMahon admits, is because his father, Vincent James McMahon walked away when he was still a child. In fact, McMahon only got to meet his father when he turned 12 years old. However, they ended up forming an enviable father-son relationship much later in life.
Vince McMahon got introduced to the world of wrestling from a pretty early age. The reason isn’t farfetched. His father was a wrestling promoter and at the time, owned the wrestling company Capitol Wrestling Foundation; a company founded by Vince McMahon’s grandfather. Young McMahon wanted to become a wrestler from the beginning but his father advised him instead to be a promoter and not get involved with the raw action. Running with this advice, McMahon was more determined than ever to make it big as a promoter. Following his father’s demise, Vince went on to inherit the Capitol Wrestling Foundation and since then, he has built it into the global enterprise that it is today. Of course, that meant more income and influence for the wrestling chief. Let’s tell you more.
How Much Is Vince McMahon Worth?
As mentioned earlier, Vince McMahon’s net worth is quite on the high side. From a few hundred thousand bucks, the wrestling promoter has seen his fortune grow to the tune of billions. He has since become one of the most successful businessmen in the world. And he has done so while efficiently managing World Wrestling Entertainment, building it into a globally renowned venture. So, how much is he worth at the moment?
As of 2020, Forbes puts Vince McMahon’s net worth at $1.8 billion. All that money has been made through promoting the widely-accepted game of wrestling. Here are the dynamics.
How He Made Billions From Wrestling
As we established earlier, Vince McMahon got introduced to the world of wrestling quite early by his father who was a wrestling promoter. As a child, McMahon fell in love with the action itself. However, at the kind behest of his father, that ambition was refocused. Instead of sweating it out in the ring, McMahon’s father advised that he become a promoter instead. And so, in 1972, Vince’s father brought him in to perform some managerial duties at his establishment, Capitol Wrestling Foundation. The experience he gained while working in this role opened his eyes to the inner workings of wrestling entertainment; preparing him for greater exploits in the future.
Through the years, Vince McMahon kept adding credence to his promoter-portfolio as he introduced new ideas that progressively made the Capitol Wrestling Foundation a sturdy venture. By the late 1970s, he had grown to become a prominent figure in his father’s company and worked to multiply TV syndication for Capitol Wrestling Foundation. His contributions were already raking in millions of dollars for the company by now.
His Father Death & Expansion Of The Wrestling Franchise
While working for his father, he also started his own company, Titan Sports, in 1980. Together with his wife, Linda, he incorporated the Titan Sports company the following year, 1981. Around this period, however, his father fell ill and his health grew worse with each passing month which meant that Vince oversaw the affairs of Capitol Wrestling Foundation. By 1984, when his father died, 37-year-old Vince McMahon took over leadership of the company.
Now at the helm of affairs, Vince McMahon executed various plans that made the Capitol Wrestling Foundation the global venture that it is today. One of those plans involved a change of nomenclature. So, from the Capitol Wrestling Foundation (CWF) that it is known as, the company was renamed World Wrestling Federation (and would later become World Wrestling Entertainment – WWE). Another big move was the signing of young talents from other wrestling companies such as the American Wrestling Association. In no time, heavy names such as Hulk Hogan joined the ranks and WWF took a quantum leap.
By 1999, after going public, Vince McMahon attracted huge attention to WWE when he succeeded in buying over an impressive array of wrestling talents. Consequently, the company’s fan base spilled into the international scene. Culminating into the industry giant that it is today. As of this writing, WWE programs are broadcasted in about 150 countries and in over 30 languages around the world. The company now rakes in over $1 billion in annual revenue.
In mid-2018, an Inc. article named WWE the ‘Most Valuable Sports Brand’. The article further labeled the entertainment company as the ‘Most Innovative Company’ for that year. According to the source, WWE has not only been on a steady pattern of spectacular growth but has also succeeded in disrupting itself again and again. Why not?
According to a top WWE official, the company’s brand perception has since evolved from what it used to be in the early days. More so, the company delivers more live programs than any major sports station in the United States. Even more than the NFL.
This has been possible because Vince McMahon and his team have been able deliver over 85% live content every week. When you also consider the dual fact that WWE has a mammoth audience globally and its products are DVR-proof, it simply means that the company can charge a higher premium on a dollar per viewer hour basis. Aggregating all of these factors together, WWE’s success becomes less surprising. This is all thanks to its visionary leader, Vince McMahon.