According to a report by a consortium of advocacy groups based on Forbes estimates, via The Middletown Press, eight of Connecticut’s 14 billionaires have seen their wealth increase amid the COVID-19 pandemic as 400,000 people in the state lost jobs. Included in that list is WWE CEO Vince McMahon, whose net worth has increased nearly 10% since March.
McMahon’s net worth was $1.8 billion this past March as the pandemic started to spread in the U.S. By June, his net worth was $1.977 billion, an increase of $177 million (9.8%).
Last year, McMahon saw his net worth grow from $1.5 billion in 2018 to $3.2 billion in 2019, so his net worth is still down $1.2 billion from last year.
McMahon’s base salary was reportedly $1.4 million in 2020. That number does not include stock awards, non-equity incentive plan compensation and other compensation.
For the year, WWE stock dropped as low as $29.10 in March after reaching $100.45 last year. WWE had mass layoffs and talent cuts in April, which was reportedly planned during WrestleMania 36 season. The stock has since somewhat recovered, and closed at $43.62 on Thursday.