Who is Vince McMahon and what are the allegations against him?
WWE Chairman/CEO, Vince McMahon, is currently under investigation for alleged misconduct. On June 17, 2022, it was announced that his daughter, Stephanie McMahon, had been appointed by WWE to serve as interim CEO and chairwoman during her father’s review period. Who is Vince McMahon? Vincent Kennedy McMahon is the CEO and chairman of World Wrestling […]
WWE Chairman/CEO, Vince McMahon, is currently under investigation for alleged misconduct.
On June 17, 2022, it was announced that his daughter, Stephanie McMahon, had been appointed by WWE to serve as interim CEO and chairwoman during her father’s review period.
Who is Vince McMahon?
Vincent Kennedy McMahon is the CEO and chairman of World Wrestling Entertainment.
The 76-year-old grew up in a trailer park in North Carolina and did not meet his father Vincent James McMahon until he was 12.
His father was a wrestling promoter in the Northeast, organizing regular shows at Madison Square Garden in New York.
In 1972, Vince joined his father in the family business, becoming a third-generation wrestling promoter.
Read More on The US Sun
In 1982, Vince bought the company from his father and transformed it into the global wrestling and entertainment juggernaut that it is today.
World Wrestling Entertainment(WWE) went public in 1999 and as of 2020 is valued at $5.71billion.
WWE continues to be a family business with Vince’s wife Linda, son Shane, and daughter Stephanie all performing and holding executive positions in the company.
Most read in WWE
What allegations is Vince McMahon facing?
In April 2022, McMahon was put under investigation for alleged misconduct with former female WWE employees after non-disclosure agreements were uncovered and reported by The Wall Street Journal.
During the investigation, NDAs involving John Laurinaitis, the head of talent relations at WWE, were revealed.
Early on in the investigation, it was reported by the outlet that McMahon allegedly paid $3million in settlement money to a 41-year-old ex-paralegal back in January 2022 to keep their affair a secret.
On June 17, McMahon delivered a defiant message in his character as WWE boss live on Smackdown amid his ongoing investigation.
He said: “It is a privilege as always to stand before you tonight – the WWE universe. It’s especially a privilege to stand here in this ring in Minnesota.
“I’m here simply to remind you of the four words we just saw, the WWE signature – then, now, forever, together.”
However, on Friday, July 8, the outlet freshly reported that McMahon allegedly paid $12million, over the past 16 years, to four women after allegations of sexual misconduct and infidelity.
A WWE spokesperson told The Journal that the company is fully cooperating with the board inquiry and that the relationship with the former employee was consensual, adding that the company takes the allegations seriously and is dealing with them appropriately.
WWE and McMahon’s attorney have yet to respond to The Sun’s requests for comment.
How much is Vince McMahon and his family worth?
Vince McMahon is worth $2.4billion as of June 17, 2022, according to Forbes.
McMahon retains 42 percent of WWE’s outstanding stock and holds 83 percent voting power, according to Sportskeeda.
In 2014, McMahon lost his billionaire status when WWE’s stock went down 40 percent but the CEO regained his billionaire status back in 2016.
Two years later McMahon returned to Forbes 400 richest Americans list.
Vince has two children, his son, Shane McMahon, who is worth $100million, and his daughter Stephanie McMahon Levesque, who served as the chief brand officer of WWE and has a net worth of $150million.
Read More On The Sun
Vince’s son-in-law Paul Triple H Levesque is married to Stephanie and serves as WWE’s Executive Vice President of Global Talent Strategy & Development, making him number five on Forbes Highest-Paid Wrestlers of 2020.
Vince’s wife, Linda, is a former cabinet minister and has a net worth of $1.6billion.