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WWE News: Linda McMahon reveals the McMahon Family's vast wealth in Senate campaign filing

Nov 19, 2009 - 12:20:43 AM
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By James Caldwell, Torch assistant editor

Former WWE CEO Linda McMahon filed official paperwork in Connecticut for her Senate run in 2010 revealing the McMahon Family's vast wealth. Linda has personally donated over $3.0 million to her campaign, which is a small drop in the bucket compared to her family's personal wealth.

Newspapers and news outlets in Connecticut have drawn attention to McMahon becoming an "instant player" in the 2010 Senate race due to her financial resources.

"McMahon has just blown right by them (other Republican candidates) in terms of resources," said the chairman of the Government & Politics department at Sacred Heart University. "It's just extraordinary. We've never had anybody that has had wealth like this campaigning."

McMahon's filing revealed the following, according to a report in the Connecticut Post:

-- Linda and Vince McMahon have $103.7 million in total assets and they received "at least" $8.97 million in salary and investment income from WWE during a period from January 2008 to October 2009.

-- The McMahons have $355.13 million worth of stocks, bank accounts, and other holdings, including a joint share of Stamford-based Bandito Entertainment, LLC and two properties in Boynton Beach, Fla.

-- Linda McMahon has an investment portfolio with municipal bonds, mutual funds, and stock holdings, including $50,000 to $100,000 each in several industries, including notable names such as drugmakers GlaxoSmithKline and Novartis, technology companies Apple and Google, and financial services firms JP Morgan Chase and Goldman Sachs.

-- Vince McMahon holds four undisclosed assets recorded with a value of at least $1 million.

-- Linda McMahon's reported salary as CEO of WWE from January 2008 to October 2009 was $871,154. Vince McMahon's salary is recorded as $1,000. Vince receives his income from WWE through the company's Class B common stock designated for the McMahon Family.


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