WWE CEO Vince McMahon Now Worth $1.1 Billion
The WWE is as popular as ever, and its chairman/CEO Vince McMahon is reaping the benefits, as his net worth swells to $1.1 billion, reports Forbes.
Leading up to this past week's WrestleMania 32, shares of the WWE climbed 18%, helping McMahon's net worth climb, thanks to his 52% majority stake in the company.
Back in mid-February, Forbes estimated his net worth to just just under $1 billion.
The WWE Network posted impressive 49% year over year subscriber growth in the fourth quarter... now boasting 1.22 million paid subscribers at $9.99 a month. This gives the network the fifth largest direct-to-consumer subscription service in the U.S., behind only Netflix, Amazon, Hulu and MLB.TV.
The network segment of the WWE generated $159 million in revenue and $48 million in operating income last year, which is nearly double the PPV business before the network launch, according to the company. It's also the most followed sports channel on YouTube and second most on Facebook.