Prior to announcing his retirement, Vince McMahon was under investigation for paying hush money to a few female employees. As per reports, he paid the money to hide the relationships.
A few days after that, Wall Street released a statement in which they mentioned more personal payments made by Mr. McMahon. However, recently there was additional money found in the WWE investigations.
ADVERTISEMENT
Article continues below this ad
Brandon Thurston shared a tweet in which he talked about the extra payments made by Vince McMahon was found. He wrote in the tweet, “New filing from WWE saying they’ve found 2 additional payments together worth $5 million.”
This new $5 million payments now rounds off to the unrecorded expenses of $19.6 million total, which includes the previous amounts, too. Mr. McMahon should have shown these payments in company records. However, he didn’t and used it as a personal expense.
New filing from WWE saying they've found 2 additional payments together worth $5 million Vince McMahon made that should have been recorded as company expenses, bringing the total unrecorded expenses to $19.6 million.https://t.co/I1qUib0IIR pic.twitter.com/uwzYGrUHmc
— Brandon Thurston (@BrandonThurston) August 9, 2022
The update comes after a disclosure of $14.6 million in previously unrecorded expenses paid out by McMahon, and his retirement from the company.
Mr. McMahon announced his retirement from all the roles of WWE in late July. He gave the reason of him being turning 77-years-old and need to spend time with family and take care of his health.
The fans, after finding out about the new payments, shared their reaction on Twitter. The WWE Universe wondered if McMahon made all those payments, then how he was still rich.
The newly discovered payments were “unrelated to the allegations that led to the Special Committee investigatio..”
Does that mean these weren’t a form of hush money? My understanding of that part is unclear.
— Wrestling with the Wicked (@JacksonGayle1) August 9, 2022
This fan thinks McMahon will hit the $20 million mark soon.
Oh boy, Vince is done for good. No way this man can ever control #WWE again. Stockholders must hold him accountable. Almost 20M this man needs to be put away for his crimes. #WWE
— FranklinFromFlorida407 (@ButtonFranklin) August 9, 2022
I find it odd that they are just discovering this. Expense reports and audits are conducted often to keep everything in order. No, this was hidden for just the right time. 🧐🤔 #WWERaw #WWE #VinceMcMahon #IRS #SECGov
— Kaci J (@KacicoJones) August 10, 2022
Vince was making payments out of his own pocket, but those payments benefited the company because it hushed a scandal.
— JustMike (@MikeCT11) August 9, 2022
Some fans opined about how the audits were done in the company for all those years when Vince McMahon was the boss.
The investors that were investing on false financial figures for one.
— Mike Fish (@MrMikeFish) August 10, 2022
This is why he stepped down going to find some bad stuff I bet
— Reece Hayes (@ReeceHayes92) August 10, 2022
I'd love to know the line items that these hush money payments were tagged under.
— Michael Rathburn (@FantasyRath) August 9, 2022
He’s a millionaire who should be a billionaire….
Now we know why he’s a millionaire only 😂
— smjd1401 (@smjd1401) August 10, 2022
McMahon’s daughter, Stephanie McMahon, took over as co-CEO and chairperson with WWE president also being the co-CEO. Also, her husband and WWE legend Triple H is now in charge of the company’s creative content. There are a lot of changes made in the management after Vince McMahon announced his retirement.
What is the net worth of Vince McMahon?
Vince McMahon announced his retirement from all the roles of WWE ahead of the latest SmackDown episode. After his retirement, (Chairperson) Stephanie McMahon and (President) Nick Khan are Co-CEOs of WWE. However, he will hold the major part of the shares of WWE by holding a total of 51% of the company.
According to FORBES, the net worth of Mr. McMahon, at his current age of 76 years old, is $2.4 billion. On top of that, all the money he has earned has been generated from WWE only. He does not have any other source of income apart from WWE.
ADVERTISEMENT
Article continues below this ad
ADVERTISEMENT
Article continues below this ad
McMahon is a money-oriented person when it comes to the business aspects of WWE. One can’t deny that he has always tried to portray things that will generate more money. However, he struggled initially but later minted a lot of money through WWE.
Watch This Story:- Top Six Hollywood Movies of Former WWE Champion Dwayne “The Rock” Johnson
