Who is Vince McMahon?
FOR VINCE McMahon, the wrestling world runs in his family’s history.
After 40-plus years in the business, the WWE executive sold $700 million of his WWE and UFC shares.
GettyVince McMahon retired from WWE but returned to the company months later[/caption]
Who is Vince McMahon?
Born on August 24, 1945, Vincent Kennedy McMahon is an American professional wrestling executive and businessman from Pinehurst, North Carolina.
McMahon is a third-generation wrestling promoter; his father Vince Sr. and his grandfather Jess McMahon were in the business as well.
Vince Sr. was mostly based in the Northeast, organizing regular shows at Madison Square Garden in New York.
During McMahon’s childhood, he was raised by his mother Victoria Hanner.
The wrestling figure remembers not meeting his father until he was 12 years old.
“It’s funny how you don’t know what you’re missing if you never had it,” he recalled to Playboy.
“When I was 12 or a little older, living with my grandmother on my mom’s side, my father and his mother came to visit. I must have behaved myself because I got invited up to be with him.
“Then, when I met my dad, I fell in love with him. We got very, very close but we both knew we could never go back.
“There’s a tendency to try to play catch-up but you can’t. You missed those years.”
McMahon added: “There would always be something missing between us but there was no reason to discuss it.
“All this time, I’d been pestering my dad to let me work with him. ‘Come on, Pop. You know I love this stuff.’ I loved wrestling from the day I saw it. The characters! But my dad was pragmatic.”
In 1982, McMahon bought WWE from Vince Sr. and transformed it into the global wrestling and entertainment juggernaut that it is today.
WWE continues to be a family business with Vince’s wife Linda, son Shane, and daughter Stephanie all performing and holding executive positions in the company.
What is Vince McMahon’s net worth?
According to Celebrity Net Worth, McMahon’s riches are estimated to be $3.2 billion, as of 2024.
His wife Linda is reported to be worth around $1.3 billion. Vince and Linda are both the co-founders of Titan Sports, which later became WWE.
Overall, the company is worth $9.3 billion.
Vince McMahon is a third-generation wrestling promoter with his son Shane and daughter Stephanie joining the family business
When did McMahon retire?
On July 22, 2022, McMahon announced his decision to retire from WWE.
On Twitter, he revealed, “At 77, time for me to retire. Thank you, WWE Universe. Then. Now. Forever. Together. #WWE #thankful.”
He further explained in an official statement, “As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE.”
“Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you.”
“I would like to thank my family for mightily contributing to our success. I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand.”
“Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment.”
“I hold the deepest appreciation and admiration for our generations of fans all over the world who have liked, currently like, and sometimes even love our form of Sports Entertainment.”
In the wake of his retirement, Stephanie McMahon served as the organization’s interim CEO until she stepped down on January 10, 2023.
On the same day, her father returned as the company’s executive chair.
However, on November 9, TKO Group, the company that holds UFC and WWE announced that McMahon is setting 8.4 million shares of his TKO stock.
The shares account for around 30 percent of McMahon’s holdings and are worth around $700 million.
His remaining shares are valued at around $2 billion.
Many believe that this move could be an indicator that McMahon is preparing his exit after decades at the helm.
What was Vince McMahon accused of?
On January 25, 2024, Vince McMahon was accused of sexual assault, trafficking, and physical abuse in a lawsuit, according to NBC.
In the lawsuit, ex-WWE employee Janel Grant claims she was “the victim of physical and emotional abuse, sexual assault, and trafficking” during her time with the wrestling organization.
A spokesperson for McMahon alleged that “this lawsuit is replete with lies, obscene made-up instances that never occurred, and a vindictive distortion of the truth.”
“[McMahon] will vigorously defend himself,” the spokesman said.
TKO Group also responded with a statement, saying it was taking the situation seriously.
A TKO Group spokesperson said, “Mr. McMahon does not control TKO nor does he oversee the day-to-day operations of WWE.”
“While this matter pre-dates our TKO executive team’s tenure at the company, we take Ms. Grant’s horrific allegations very seriously and are addressing this matter internally,” the TKO spokesperson said.
