WWE owner Vince McMahon is not being considered to be one of The United States of America’s 400 richest persons anymore, as reported by Forbes.
Forbes 400 is a definitive ranked list of the richest individuals of The USA. They report the wealth of the individual, and then go on to extend the information to how those individuals are trying to create a drive for a change in the world with their accumulated wealth.
In the 39th edition of the list, which was published yesterday, had the minimum cutoff of $2.1 billion for an individual to earn their place. 233 American billionaires were left out for the reason, including the power-walking Vince McMahon.
McMahon has a reported wealth of $1.8 billion, not enough to gain a spot in the list of the wealthiest elites of America. The reasons behind him being left behind were various and mostly related to the Covid-19 pandemic situation.
McMahon Being Left Off Was Mostly A Result Of Covid-19
McMahon’s dream league, XFL’s rebirth was spoiled by the outbreak of the pandemic. As a result, XFL had to file for bankruptcy. Dwayne ‘The Rock’ Johnson, multiple times World Champion in WWE, went on to acquire major stakes from his former boss.
“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,” Forbes wrote about McMahon.
“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,” the write-up added.
WWE, although losing a bit in the first seven months of the year, has made a blistering comeback with the announcement of a huge profit last quarter. If the business rolls on through future quarters, Vince will surely see himself upon the Forbes 400 next year.
Interestingly, All Elite Wrestling (AEW) owner Shad Khan is a part of the list, and quite high up at that, as he sits on the 66th spot with a reported wealth of $7.8 billion.
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