Report: WWE Chairman Vince McMahon's Wealth Has Increased By $177 Million During The Coronavirus Pandemic

The boss has been raking in the money...

Since the coronavirus pandemic began, over 47 million Americans have filed for unemployment and many families and people continue to struggle financially across the country. In the same time frame, the combined wealth of America's billionaires has increased by $565 billion, a jump of 19 percent.

One billionaire who has seen his wealth increase is WWE's Vince McMahon according to a report from The Middletown Press. They cited a study from Americans For Tax Fairness, Healthcare For America Now and the Connecticut Citizen Action Group which noted McMahon's personal wealth grew by $177 million from $1.8 billion to $1.977 billion between March 18 and June 17. An increase of 9.8 percent.

WWE's chairman is one of eight billionaires in Connecticut whose wealth has grown over the past four months which has led to questions about inequality in the United States.

Ann Pratt of the Connecticut Citizen Action Group said: "It is this kind of enormous wealth gap and imbalance that threatens the livelihood of so many Americans, and we also believe it threatens the economic growth and stability moving forward, which is also a huge point of this effort."

McMahon's increased wealth comes during a period of cutbacks in WWE. Back on April 15, the company released 37 Superstars and furloughed a number of producers and much of the office staff at Titan Towers in Stamford, Connecticut. Estimates have shown the company is still on course to make record profits in 2020 despite the ongoing pandemic. 

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Aidan Gibbons

Written by Aidan Gibbons

Cultaholic's resident newshound.