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Vince McMahon owned WWE never stopped a show during the COVID-19 pandemic because at this point, conducting the televised shows has been the only source of income for them.
They also made a lot of budget cuts across the company to keep the financial profits, ongoing. Mainly due to this and some other business ventures helped The Boss continue the good run during the pandemic.
Middletown Press reports that Vince McMahon’s net worth shot up to $177 million over the past three months. This has happened at a time when WWE saw widespread cuts including all live events. But yet the company’s earning went upwards which points out the good business strategy of the company.
It was noted that WWE’s live events turned out to be a money loser. The company doesn’t have live events anymore and they are making money out of every show through their television deals. Vince McMahon’s net worth now reaches up to an estimated value of $1.977 billion. He certainly knows how to protect his wealth during the novel coronavirus pandemic period.
However, in comparison to last year, the Vince McMahon net worth was reduced in a big percentage. Around June 2019, his property worth was almost $2.8 billion which saw a massive jump of $1.3 billion from 2018.
It appears to be a direct reflection of the two huge deals that WWE has gone through with Fox Sports and Saudi Arabia sports authority in 2019. These two main sources were backing up McMahon and Co pretty well, it seemed.
Social media platforms along with additional content for a value of $5 billion can also be counted on behalf of the WWE brand. The company receives around $50 million, twice a year from hosting the Saudi shows. It took the overall WWE net worth to $5.71 billion. (As per macrotrends.net weighing the stock market values) in 2019.
Vince McMahon earns $1.4 million as the Chairman of the WWE, per annum on average. While it shows that live events are not profitable for the company, he’s still hell-bent on bringing them back. It shows that those non-televised shows are basically to serve the fans with entertainment and the company will be determined in doing so.