Vince McMahon is an American professional wrestling promoter, commentator, film producer, and occasional wrestler who has a net worth of $1.8 billion. As the CEO of World Wrestling Entertainment, or WWE, Vince became rich and famous.
Vince has 28.7 million shares of WWE stock as of the time of this writing. At least 80 percent of WWE’s voting power and 37 percent of its total outstanding shares are controlled by his class B shares.
His shares were worth $2.76 billion in April 2019 when the share price touched an all-time high of $96, he said in a statement. 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.
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On Dec. 31, 2017, Vince sold 3.34 million shares of the company for a profit of around $100 million. Shares in the XFL football league were sold to raise money for his recently announced ambitions to restart the league. Vince sold 3.2 million shares at a gain of $272 million in April 2019 when the stock was at its all-time high.
His timing couldn’t have been better. When the stock market was at its peak, the identical shares would have been worth only half as much. Alpha Entertainment, his wholly-owned corporation, received profits from both sales. Reports claim to have him planning to invest around $500 million of his own money towards the XFL’s relaunch.
Vince Mcmahon Early Life
On August 24, 1945, Vince McMahon was born in Pinehurst, North Carolina. At the age of one, his father Vincent James McMahon abandoned the family. Vince didn’t meet his father until he was twelve.
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Victoria, Vince’s mother, had a number of stepfathers to raise him alongside. McMahon graduated from Fishburne Military School in 1964 despite his struggles with dyslexia and learning disabilities. Upon completing his undergraduate studies at East Carolina University, he went on to earn a bachelor’s degree in business administration.
World Wrestling Entertainment (WWE) was created by Vince’s father, and he is most known for his role as Chairman, CEO, and main shareholder. 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.
Vince was All-Star Wrestling’s in-ring announcer and play-by-play commentator. While he was there, he helped his father’s company triple its TV distribution, and as a result, he rose to a position of leadership inside the company. The McMahons inherited a still-small company after their father’s death in 1984.
Using the help of Hulk Hogan, he created a brand for the company. Rock and Wrestling Connection, conceived by Vince McMahon, drew pop stars into the stories and broadened the audience for professional wrestling.
A series of inventive shows followed immediately after WrestleMania. When McMahon built the WWF into a unique form of sports entertainment, he helped make wrestling a household name. World Wrestling Entertainment (WWE), formerly known as the WWF, is now a multi-billion-dollar business.
Vince Mcmahon Other Ventures
He has held the WWF and ECW World Championships and has competed in the ring on occasion. As a result, he has received a star on the Hollywood Boulevard They have both worked on- and off-camera for their father’s company, Shane and Stephanie.
Wrestling promoter Vince McMahon was married to Linda McMahon, who was named Small Business Administration Administrator by President Trump in 2017.
Vince Mcmahon Feuds
McMahon and Stone Cold Steve Austin have had a long-running feud that began in December 1997. When McMahon disclosed Austin’s alleged assaults on him and other commentators on-air, it sparked the controversy.
In the fall of 1998, McMahon said that he was “sick and tired” of seeing Austin as the WWF Champion and that he had devised a “master plan” to remove the title. After that, Austin attacked McMahon with a Zamboni he had driven into the WWF arena. Shortly thereafter, he was taken into custody.
— Vince McMahon (@VinceMcMahon) July 16, 2021
In January 2007, Vince launched a public rivalry with Donald Trump. Both McMahon and Trump eventually agreed to an arrangement in which each would appoint their own representative to fight on their behalf. The McMahon wrestler was defeated in the match.
Vince Mcmahon Personal Life and Real Estate
On August 26, 1966, Vince McMahon married Linda McMahon in North Carolina. When they were teenagers, they met in church. In addition to their two children, Shane and Stephanie, they now have six grandkids.
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A 30-minute drive from WWE’s headquarters in Stamford, CT, Vince, and his family are located in Greenwich, CT. 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 point, McMahon faked his own death. On the 11th of June, 2007, WWE presented a vignette in which Vince was seen entering a limo just before it detonated. A few seconds later, the broadcast returned from “off-air” with WWE announcing that McMahon had been presumed dead.
His death was a scenario he had invented for his character, McMahon admitted on June 25, 2007. To find out what the public thought of him, he allegedly faked his own death. A number of Republican Party causes have benefited from McMahon’s contributions, notably America Rising, a research and tracking organization.
Donald Trump’s foundation received a $5 million donation from him. Sacred Heart University, Fishburne Military School, and East Carolina University all received grants from the McMahons totaling $8 million.
A former WWF referee named Rita Chatterton accused McMahon in 1992 of sexual assault in connection with an incident that occurred back in 1986. Accused in 2006 by a bartender in Boca Raton, Florida, of sexual harassment. In both cases, no official charges were brought. For more such content stay tuned with us only on leedaily.com