Bengaluru, September 9: Forbes publishes an annual list of 400 richest Americans every year and 2020 is no exception, either. The 39th edition of the list is now out, and it's been missing the notable names like Kanye West or Vince McMahon.
As noted in reports, the WWE Chairman & CEO did not make The Forbes 400 list of the richest Americans, this year. Forbes noted that a record, 233 billionaires from the United States were unable to make it to the list in 2020. The figure increased 12 more in comparison to last year as Vince McMahon net worth failed to make it to the count.
For the third consecutive year, America's richest persons needed a wealth figure of at least $2.1 billion or more to claim a spot on the 39th annual Forbes 400. Vince McMahon net worth stood $1.8 billion as of July 24, 2020, and thus got phased out of the chart.
The leading magazine provided a synopsis for the biggest pro-wresting brand's owner's wealth,
"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."
As of September 2020, Forbes has listed Vince McMahon net worth at $1.7 billion that ranks #1,196 on the Billionaires 2020 list, and #296 on the Forbes 400 2019 list. His total property worth stands at $3.2 million.
As noted above, the 75-year-old man has brought up a tremendous negative effect over his wealth as his XFL league got bankrupt, earlier this year. He lost almost $500 million that was invested to resurrect the league. Then the COVID-19 pandemic stopped WWE's touring schedule starting from March and thus decreased revenue generation.
However, WWE released a ton of superstars as well as took some cost-cutting decisions following WrestleMania 36 that kept the profit margin intact.
As per recent reports, Vince McMahon draws around $1.4 million, per annum on average as his base salary from the WWE . His wife Linda McMahon, who is in Donald Trump's ministry, comes next in the family followed by their daughter Stephanie Mcmahon whose net worth is $79 million. She serves as the Chief Brand Officer of the WWE amd also has multiple shares of the company in her name.
Her husband Triple H, the owner of NXT and has a $40 million net worth by his name who gives his creative input in storylines, besides receiving bonus paychecks for being an on-screen talent for WWE.
Shane McMahon has his net worth valued at around $35 million, who is just a WWE Superstar having no control over backstage decision making. However, there are rumours that the promotion could make him the creative head of Raw in the future.