Vince McMahon‘s sexual abuse and trafficking allegations are looming over him and his empire. The leisure govt’s internet value took a success after a former WWE workers member got here ahead with allegations early in 2024.
Vince McMahon purchased the WWE from his father (then it was the World Wrestling Federation) and remodeled it right into a multibillion-dollar empire with the acquainted faces of Hulk Hogan, Dwayne “The Rock” Johnson, and John Cena. His household was very concerned in how the corporate was run—together with his spouse Linda co-founding the corporate and his daughter Stephanie taking up his place after retirement— and in their very own WWE storylines as effectively. McMahon was identified on the small display screen as Mr. McMahon, a fictionalized model of himself who wreaked havoc within the ring with slogans like “You’re fired!”
Nevertheless in recent times, McMahon’s legacy has been tarnished with a slew of allegations and brought about him to step down from his roles.
What’s Vince McMahon’s internet value?
Vince McMahon’s internet value is value $2.5 billion, in response to Forbes. WWE merged with UFC to make TKO Group Holdings, which is majority-owned by Endeavor. After he was accused by a former WWE worker in 2024, he offered 5.35 million shares of TKO inventory value $412 million in March 2024. He beforehand owned owned 20.4 million TKO shares final November, and because of this, will nonetheless personal round 15 million shares within the firm. On April 2024, Endeavor agreed to buy 1.64 million shares of McMahon’s Class A typical inventory of TKO (additionally for $89.01 per share) for a complete of of $146.2 million.
This isn’t the primary time that McMahon stepped down from his position. In 2022, he retired from being CEO and Chairman of WWE after being investigated by the WWE board. His daughter Stephanie changed him however he returned as a Chairman for the group.
Who’s suing Vince McMahon?
Vince McMahon is being sued by Janel Grant for sexual abuse and trafficking. In Could 2024, Grant agreed to remain her civil case whereas McMahon is the topic of a federal investigation to find out if federal legislation was damaged. In 2022, the WWE started investigating a $3 million hush-money settlement that McMahon that finally concerned 4 victims who have been paid a complete of $12 million. Grant alleged that McMahon had agreed to pay her $3 million in 2022 in return for a NDA, however stopped paying after solely $1 million.
In 1992, Rita Chatterton who was the WWE’s first girl referee, accused McMahon of rape and reached a settlement together with her in 2023. He additionally confronted a sexual harassment accusation from a tanning bar worker in Boca Raton, Florida in 2011.
