Yahoo Lifestyle Vince McMahon's Net Worth In 2024 Is Against the Ropes
Vince McMahon
Vince McMahon's net worth in 2024 looks great on paper, but the former World Wrestling Entertainment CEO is wrestling with a severely tarnished legacy, a litany of lawsuits and a federal investigation.
The legendary promoter coined "sports entertainment" and made professional wrestling mainstream, and his influence extended far beyond the ring: His wife, Linda McMahon, served in Donald Trump's presidential administration, and the WWE launched the careers of full-blown movie stars and pop-culture icons like Dwayne "The Rock" Johnson and John Cena.
Find out how Vince McMahon got so rich—and how he's accused of putting his entire empire at risk through decades of alleged sexual abuse.
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How did Vince McMahon become famous?
Surprise! Vince McMahon is a major nepo baby.
Born in Pinehurst, North Carolina, on Aug. 24, 1945, McMahon didn't meet his father until he was 12 years old. Vince's dad, Vincent James McMahon, was a wrestling promoter for Capitol Wrestling Corporation (CWC), which later became the Worldwide Wrestling Federation.
After earning his business degree from East Carolina University, Vince helped his father manage Worldwide Wrestling Federation, then made his debut in 1969 as a ringside announcer for their show All-Star Wrestling.
After working as a promoter in Maine, he served as a play-by-play commentator beginning in 1971 while also aiding his father in management of the brand, including spearheading the name change from Worldwide to World Wrestling Federation.
He founded his own company, Titan Sports, in 1980 with wife Linda McMahon, acquiring CWC and WWF from his father two years later. He signed a slew of talent from other wrestling promoters, including Hulk Hogan, and made superstars out of the likes of Stone Cold Steve Austin, Dwayne "The Rock" Johnson and John Cena, incorporating a new level of celebrity into the sport. But the real money came from his use of the then-fledgling pay-per-view model for super cards like WrestleMania (and eventually the Royal Rumble, Hell in a Cell, Summer Slam, Survivor Series and more). He eventually acquired two competitors as well, Extreme Championship Wrestling (ECW) and World Championship Wrestling (WCW).
McMahon is credited with bringing wrestling from a niche interest to a mainstream, major pop culture fixture every Monday night.
He's also accused of a lot of misconduct (more on that later).
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What is Vince McMahon's net worth in 2024?
Vince McMahon's net worth in 2024 is estimated at $2.7 billion, according to Forbes. As of early March 2024, he also has an extra $412 million to his name after selling off a slew of TKO shares. In November 2023, he reportedly unloaded more than $670 million worth of shares.
How much is the McMahon family worth?
The combined McMahon family net worth is estimated at about $4.8 billion.
What does Vince McMahon own?
In September 2022, Endeavor acquired the WWE and Ultimate Fighting Championship as a singular brand, TKO Holdings. McMahon no longer owns the WWE brand.
He previously owned the World Bodybuilding Federation, XFL, Alpha Entertainment and the Cape Cod Coliseum.
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Where does Vince McMahon live?
McMahon owns properties in Greenwich, Connecticut; Boca Raton, Florida; New York City and his hometown of Pinehurst, North Carolina.
Who owned WWE before Vince McMahon?
McMahon purchased WWE, then WWF, from his father, Vincent James McMahon.
Who is current CEO of WWE?
Nick Khan was named CEO of WWE in January 2023 after McMahon's daughter Stephanie stepped down from the role.
Who owns the WWE now?
Endeavor is the current owner of WWE.
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What is Vince McMahon doing now?
Funny you should ask!
In March 2024, McMahon sold off more than $400 million worth of shares in TKO Holdings, the new parent company of WWE.
That may be because litigation is quite expensive, and a lot of allegations have come out about him through the years—especially recently. We'll go through them below, but please know that some of the content following may be triggering for survivors of sexual abuse, violence and substance abuse.
Who is suing Vince McMahon?
Several people are currently involved in litigation against McMahon, and there have been plenty of lawsuits against him previously.
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Mel Phillips and Terry Joyal Sexual Abuse Allegations
In October 2020, Business Insider reported that in the 1990s, the McMahons knew that ring announcer Mel Phillips was one of several WWE workers who "used wrestling to lure, groom and sexually abuse young boys." Phillips was accused of molesting minors as young as 13 who worked as "ring boys" (essentially gophers) for WWE, one of which was Tom Cole. McMahon denied knowing anything about Phillips' conduct, but had previously told reporters that he fired Phillips for similar transgressions in 1988, then rehired him in 1992 after making Phillips promise to not pursue underage boys.
An attorney for WWE said that the McMahons only knew of allegations around Phillips' foot fetish and not about "anything approximating conventional forms of sexual abuse such as rape, sodomy, etc."
Phillips' boss, Terry Joyal, was also accused of sexually abusing Tom Cole.
An attorney for WWE told Business Insider in a statement that Joyal "made an unwanted solicitation twice, once when Tom Cole was 19, which is not exactly a child's age."
Tanning Salon Sexual Harassment Allegations
McMahon faced two separate allegations of harassing women working in tanning salons. One employee filed a police report in 2006 alleging that McMahon groped and tried to kiss her without her consent, but no charges were ultimately filed. In December 2022, The Wall Street Journal reported that a separate tanning salon worker sued McMahon for allegedly sexually assaulting her in 2011.
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Class Action Lawsuit Against Vince McMahon and WWE
In 2016, more than 50 former wrestlers sued WWE and McMahon for allegedly downplaying neurological injuries they sustained on the job. One accuser, former WWE Diva Ashley Massaro, also alleged in the suit that she was sexually assaulted during a WWE tour of Kuwait and that the company urged her not to report the incident to authorities in order to protect their relationship with the military. The suit was dismissed in 2018.
In a statement to Vice released after Massaro died by suicide in 2019, she also accused McMahon of sexual harassment and retaliating against her when she rebuffed his many advances.
Rita Marie Sued Vince McMahon and Accused of Sexual Assault
Rita Chatterton, known as Rita Marie, was the first female referee in WWE history. She sued McMahon in December 2022, The Wall Street Journal reported, for allegedly forcing her to perform oral sex on him in a limousine during her tenure with the company. McMahon denied any wrongdoing and settled the claim, saying in a statement that it was merely to avoid the cost of litigation.
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Vince McMahon Hush Money Allegations
In 2022, it was revealed that McMahon had paid a total (so far) of more than $19 million in hush money payments to women who accused him of sexual misconduct between 2006 and that year.
He announced his retirement that July, only to return in January 2023 as executive chairman.
Janel Grant Sued Vince McMahon for Sexual Assault and Trafficking
In January 2024, Janel Grant sued McMahon, John Laurinaitis and an unnamed WWE wrestler, accusing them of sexual abuse and trafficking her through her employment with the company from 2019 to 2022. She also requested nullification of a non-disclosure agreement she signed prior to her exit. McMahon had previously paid her $3 million in hush money (see above section).
"I stand by my prior statement that Ms. Grant’s lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth," McMahon said in a statement to Deadline at the time the filing was reported. "I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name." He resigned from his CEO post, as well as from the TKO board of directors, in light of the allegations.
A month later, co-defendant Laurinaitis released a statement to Vice through his own attorney, alleging that McMahon made "dictatorial sexual demands with repercussions if not met."
Amid the myriad allegations of sexual abuse, assault, trafficking and more against McMahon, The Wall Street Journal reported that a federal investigation was underway to determine if criminal charges should be filed against the embattled and disgraced former king of ring-centric sports entertainment.
