4 reasons why Vince McMahon is not as rich as he should be.
Despite his deep pockets, McMahon could have made more money.
The reason you're into professional wrestling today is because of Vince McMahon. The reason you're reading this is also because of Vince McMahon.
He is the reason for all our joy and has provided us with a pass-time to fill our empty lives. He's the biggest name in wrestling history and the puppet master behind all our favourite superheroes.
Mr McMahon is an entrepreneur, businessman and legendary TV character. Over the years, through several strategic business moves, the 71-year old has amassed a personal net worth of over $1 billion.
Despite his endless pits of wealth, Vince should be wealthier than he currently is, and he knows it. Here a few reasons why the money-grabbing chairman isn't as rich as he should be:
#1 Unintelligent investments like the XFL:
Vince is a businessman and territory explorer, he loves to push boundaries and evolve with the times. But in this particular scenario, the Chairman of the WWE got his bearings completely wrong and wandered into unknown territory.
In a daring attempt to broaden his business ventures, Vince McMahon created the Xtreme Football League (XFL). A professional American football league in 1999, by 2001 it had already folded.
Viewership and ratings tanked throughout the one season it was on for. The plan was for the show to run during the NFL off-season to cater to fans who missed the NFL dearly, however, in the end it was just a cheap imitation.
Vince packaged the product as an alternative to the NFL but nobody cared. Vince approximately lost around $35 million in one year from investments made in the XFL. NBC also lost a similar sum as it was the primary owner of league’s TV rights.