Vince McMahon sells more WWE stock ahead of Earnings Report

XFL Bankruptcy Keeps Vince McMahon Off Forbes 400

Forbes recently posted their list of the 400 richest Americans for this year and Vince McMahon is no longer featured.

To make the top 400 list, you had to have a net worth of at least $2.1 billion. McMahon fell short of that with $1.8 billion. As you’d expect, the XFL’s closure and COVID-19 were factors in his drop.

Here’s what Forbes had to say:

“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.”

WWE itself is expected to make record profits in 2020 even if it is unable to hold another attended show all year, though ThunderDome’s introduction may put a dent in this.

We’re just happy to see the XFL live on to see another day. That being said, without Vince McMahon we’d never see the XFL in the first place.

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