Vince McMahon’s business strategy is said to have shifted when the coronavirus pandemic struck America, from the long-term to the here-and-now. Plans to build for the future were scrapped or put on hold. In their place came moves to minimize losses and ensure current profit margins.
An analysis of his and other billionaires net worth from March to June of this year* shows McMahon’s moves have worked.
The study, conducted by a trio of political advocacy groups and reported on by Connecticut’s Middletown Press, shows that Vince was worth $1.8 billion on March 18. Three months later on June 17, his fortune was estimated to be $1.977 billion.
Considering the stock market also surged during that time period, the almost 10% increase in the WWE CEO & Chairman’s net worth isn’t at all surprising. The S&P 500 is down since the end point of this report, but not as much as some expected given the dramatic increase in COVID-19 cases nationwide.
The bottom line is that Vince’s riches - and the fortunes of the world’s other billionaires - look pretty darn safe, even as the news continues to depict a world in turmoil.
Wonder what the Myers family** thinks of that.
*Sources: All data is from Forbes. March 18, 2020, data is from the Forbes World’s Billionaires List: The Richest in 2020. June 17, 2020 data was taken from Forbes real-time estimates of worth that day.
** Belated congrats to the former Curt Hawkins and his lovely wife on the birth of their daughter Madison last week!