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Vince McMahon left out of The Forbes 400 List Of Richest Americans for 2020

Shahid Khan, Tony Khan and Vince McMahon.
Shahid Khan, Tony Khan and Vince McMahon.
ANALYST
Modified 09 Sep 2020, 13:48 IST
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Vince McMahon was one of ten notable billionaires who failed to make the cut in The Forbes 400 List Of Richest Americans for 2020.

Forbes revealed that 233 American billionaires failed to crack the list, which was 12 more than last year's figure.

The threshold to rank in the top 400 was set at 2.1 Billion and in addition to Vince McMahon, John Tyson, Kanye West and Elaine Wynn also failed to rank in amongst the 400.

Why did Vince McMahon fail to make the top 400?

Vince McMahon's net worth was pegged at $1.8 Billion for the year. However, his real-time net worth, as of this writing, has dropped to 1.7 Billion. One of the biggest reasons why the WWE CEO was outside the top 400 was due to the drop in WWE shares in the first seven months of 2020.

Vince McMahon's failed XFL reboot, for which he spent almost $200 Million, also contributed to the decline. The financial impact of the pandemic on the WWE and its operations also played a significant factor in Vince McMahon falling off the list.

On the overall real-time billionaires list, Vince McMan stands at the 1535th rank.

Here's Forbes brief description regarding Vince McMahon's financial standing for 2020:

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.

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Shahid Khan, the co-owner of AEW and father of Tony Khan, came in at #66 with a net worth of $7.8 billion.

2020 hasn't been easy for the WWE as Vince McMahon and co. have had to adapt to the pandemic and continue to create content for its vast programming itinerary.

WWE released several Superstars and furloughed many backstage personnel in April as a cost-cutting measure. Despite the pandemic, WWE recorded healthy quarterly profits and its business is only expected to get better. WWE recently moved out from the Performance Center and the second half of the year could help Vince McMahon significantly improve his net worth.

Published 09 Sep 2020, 13:48 IST
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