Vince McMahon’s, the current WWE CEO, name did not appear in The Forbes 400 list of the richest Americans this year. Vince McMahon is indeed a very rich man. Professional wrestling is watched by millions of people around the world.
Many WWE stars went on to become huge Hollywood stars and are well known around the world. Vince McMahon laid the foundation for modern professional wrestling nearly 3 decades ago. His PPV event called WrestleMania took the world by storm.
WWE shows now air on FOX and the USA Network which are among the top networks in the US. Not only that, Vince with the help of his wrestlers, such as Stone Cold Steve Austin, beat his main competitors, including WCW. WCW was the only promotion in the world that had the potential to beat WWE nearly 2 decades ago.
Vince McMahon Fails to Make Forbes List
Forbes noted that around 233 billionaires that appeared in the list last year did not make the list this year. All people in the list required a net worth of $2.1 Billion or more. This is extremely high for most people around the world.
This list was the 39th annual list. Even the very famous Kayne West could not make it to the list either. According to various sources, Vince’s net worth is $1.8 Billion. This is what Forbes wrote about Vince: "The chairman and CEO of World Wrestling Entertainment (WWE) fell off the list this year as shares of his media and live events company slid 30% in the first seven months of 2020.
In April, WWE announced it had furloughed "a portion" of its workforce and reduced executive and board member salaries, resulting in an estimated monthly savings of $4 million. McMahon spent some $200 million to relaunch an NFL competitor called XFL this year.
In March, the coronavirus forced XFL to cancel its 2020 season and, weeks later, the company filed for bankruptcy." Vince McMahon started the XFL earlier this year, but then the pandemic hit. Due to the pandemic, XFL made little to no money.
XFL was going to be an American Football League which would compete with the NFL. They even signed a few big names to play in the XFL. The XFL filed for bankruptcy and a few months ago and now belongs to one of Dwyane ‘The Rock’ Johnson’s investment companies.