What we know about WWE co-founder Vince McMahon
FOR VINCE McMahon, the wrestling business plays a role in his family's history.
After more than forty years in the business, the WWE executive sold $700 million worth of his WWE and UFC shares.
Who is Vince McMahon?
Vincent Kennedy McMahon, born August 24, 1945, is an American professional wrestling manager and businessman from Pinehurst, North Carolina.
McMahon is a third-generation wrestling promoter; his father Vince Sr. and his grandfather Jess McMahon were also in the company.
Vince Sr. was based primarily in the Northeast and regularly hosted shows at New York's Madison Square Garden.
During McMahon's childhood, he was raised by his mother Victoria Hanner.
The wrestling figure remembers that he didn't meet his father until he was twelve years old.
“It's funny how you don't know what you're missing if you've never had it,” he recalled Playboy.
“When I was twelve or a little older and living with my maternal grandmother, my father and his mother came to visit. I must have behaved because I was invited to be with him.
“When I met my father, I fell in love with him. We became very close, but we both knew we could never go back.
“There's a tendency to play catch-up, but you can't. You've missed those years.”
McMahon added, “There was always something missing between us, but there was no reason to talk about it.
'All this time I've been pestering my father to let me work with him. “Come on, Dad. You know I love this stuff.” I loved wrestling from the day I saw it. The characters! But my father was pragmatic.'
In 1982, McMahon purchased WWE from Vince Sr. and transformed it into the global wrestling and entertainment juggernaut it is today.
WWE remains a family business, with Vince's wife Linda, son Shane and daughter Stephanie all serving and holding leadership positions in the company.
What is Vince McMahon's net worth?
According to Net Worth of CelebritiesIn 2024, McMahon's wealth is estimated at $3.2 billion.
His wife Linda is said to be worth approximately $1.3 billion. Vince and Linda are both co-founders of Titan Sports, which later became WWE.
In total, the company is worth $9.3 billion.
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When did McMahon retire?
On July 22, 2022, McMahon announced his decision to retire from WWE.
He revealed on Twitter: “At 77, it's time for me to retire. Thank you, WWE Universe. Then. Now. Forever. Together. #WWE #grateful.”
He further explained in an official statement: “Now that I am 77 years old, I feel it is time to retire as Chairman and CEO of WWE.”
“Over the years, it has been a privilege to help WWE bring joy, inspire, delight, delight and always entertain.”
“I would like to thank my family for their tremendous contribution 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 want to thank our fans for allowing us to come into your homes every week and be your choice of entertainment.”
“I have the deepest appreciation and admiration for our generations of fans around the world who love, currently love and sometimes even love our brand of sports entertainment.”
Following his retirement, Stephanie McMahon served as the organization's interim CEO until she resigned on January 10, 2023.
On the same day, her father returned as executive chairman of the company.
However, on November 9, TKO Group, the company that owns UFC and WWE, announced that McMahon is committing 8.4 million shares of his TKO stock.
The shares account for about 30 percent of McMahon's holdings and are worth about $700 million.
Its remaining shares are valued at approximately $2 billion.
Many believe this move could be an indicator that McMahon is preparing his departure after decades at the helm.
What was Vince McMahon accused of?
On January 25, 2024, Vince McMahon was accused in a lawsuit of sexual assault, human trafficking and physical abuse. NBC.
In the lawsuit, ex-WWE employee Janel Grant claims she was “a victim of physical and emotional abuse, sexual assault and human trafficking” during her time with the wrestling promotion.
A spokesperson for McMahon claimed: “This lawsuit is full of lies, obscene fabricated examples that never happened and a vindictive distortion of the truth.”
“[McMahon] will defend itself vigorously,” the spokesperson said.
TKO Group also responded with a statement in which it took 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 predates our TKO management team's tenure at the company, we take Ms. Grant's horrific allegations very seriously and are discussing this matter internally,” the TKO spokesperson said.