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Vince McMahon has been a pioneer in the sports entertainment industry, and he's done wonders with WWE. Not only did he strive to push WWE forward, but he is why the pro-wrestling industry is where it is today.
Over the years, McMahon's WWE has been rumored to be put up for sale. It seems like those rumors are finally becoming a reality. WWE and UFC are coming under the umbrella of UFC's parent company, Endeavor Group Holding Inc., to form a multibillion-dollar sports entertainment and combat sports company. As a result of the sale, Vince McMahon's net worth for April 2023 has skyrocketed.
His net worth was $2.1 billion in 2021 and $2.2 billion in 2022, but he currently sits at $3.1 billion as of writing. The massive jump in his net worth comes after WWE stock prices soared when word of the company's merger with UFC was revealed to the public. He currently sits 968th on Forbes' Real-Time Billionaires List.
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Vince McMahon selling the company to Endeavor has also opened up avenues for him to return to control of day-to-day operations, the seeds of which were seemingly sown this Monday when he was reportedly in charge of RAW's creative.
Vince McMahon's role in WWE following the acquisition
Despite other companies/parties interested in purchasing WWE, McMahon wanted someone who would continue to keep him involved in the future.
With this sale, McMahon believes that WWE can do much more, including getting a better deal during the upcoming media rights negotiations. The acquisition by Endeavor Group will see Mr. McMahon remain the new Executive Chairman of the company.
“Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity. The new company will be well positioned to maximize the value of our combined media rights, enhance sponsorship monetization, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster our strong stable of brands."
The current WWE shareholders will have 49% control over the company, while Endeavor will have 51% control. Furthermore, he will reportedly have some say in the creative direction moving forward.
It remains to be seen what other positions McMahon may hold in the near future.
