How much is Vince McMahon worth?
WWE mogul Vince McMahon has been making the headlines recently due to reports that he paid off women to keep silent on his alleged sexual misconduct.
Vince McMahon, chairman and CEO of World Wrestling Entertainment (WWE), has been a point of focus in the news recently due to allegations that he paid off women to keep their silence on his alleged sexual misconduct. The latest reports assert that these payments amount to over $12 million.
With such large amounts of alleged hush money being given out, it makes one wonder how much McMahon is worth.
Vince McMahon’s wrestling empire
According to the numbers provided by Forbes, the third-generation wrestling promoter could definitely afford to give million-dollar payouts. McMahon’s net worth is currently estimated at $2.3 billion dollars.
The 76-year-old is a self-made man, and helped build WWE from the ground up. He joined his father’s wrestling promotion company, then called World Wide Wrestling Federation, initially as an in-ring announcer. He eventually became a driving force in expanding the business.
He pushed for the company to be renamed World Wresting Federation (WWF), which eventually became World Wrestling Entertainment after a dispute with the World Wildlife Fund due to the company’s initials.
Under McMahon’s leadership, the WWE’s programs have achieved success around the world, becoming well-known global brands.
He set up other companies with varying degrees of success, and even purchased the now-defunct Cape Cod Buccaneers, a professional ice hockey team.
WWE holds probe into McMahon
The WWE began an investigation into the allegations against McMahon a few weeks ago after an anonymous email claimed that he had an affair with a WWE employee whom he later paid off with $3 million to keep the relationship confidential.
McMahon has since stepped down as WWE and CEO temporarily while the internal investigation is being carried out. His daughter Stephanie McMahon is acting in these capacities in his absence.