Stephanie McMahon, daughter of former WWE CEO Vince McMahon, is one of the most well-known personalities in pro wrestling. Stephanie has been a regular feature on WWE television since the early 2000s. Over the years she has played roles of a heel and a face to the best of her abilities. Fans will always remember her villainous part in the heel faction “The Authority” in the early 2010s.
However, not only in her on-screen persona, but Stephanie McMahon also started to have more and more power behind the scenes as well! Along with her husband Paul Levesque, better known as Triple H, Stephanie was an extremely influential figure backstage. However, she rose to the top in July 2022, when she replaced her father as the Co-CEO of the company.
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Around that time, news about Vince’s past sexual misconduct and hush payments started coming out. WWE is a publicly-traded company and it gears its product toward a family-friendly audience. Hence, Vince faced a lot of pressure to relinquish his post. After McMahon announced his retirement, Stephanie stepped up and took over the charges.
However, she did not last long in the position. Stephanie resigned from the post on January 2023. In the meantime, the 46-year-old earned a hefty salary. Prior to her ascension to the throne, McMahon earned $730,000. However, after taking a Co-CEO role, it increased to $1.36 million.
According to Bleacher Report, she also received an extra salary for her on-screen role. On top of that, Stephanie and the other Co-CEO, Nick Khan also received $3.6 million in equity. It all added up to a very heft net worth. According to Celebrity Net Worth, Stephanie McMahon was worth $150 million at the time of her resignation as the WWE Co-CEO.
Did Stephanie McMahon resign from WWE because of Vince McMahon?
On January 10, 2023, Stephanie McMahon announced that she was stepping down from her role. In her statement, McMahon added that Vince would return to the company. But why did Vince McMahon return despite a much-publicized exit? Stephanie revealed that the company was heading in a different direction and Vince was going to be crucial for it.
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She wrote, “Our Founder, Vince McMahon, has returned as Executive Chair and is leading an exciting process regarding strategic alternatives. And with Nick’s leadership and Paul “Triple H” Levesque as Chief Content Officer, I am confident WWE is in the perfect place to continue to provide unparalleled creative content and drive maximum value for shareholders.”
So fans may ask, what is the “strategic alternative” that Stephanie was hinting toward? Reportedly, WWE was almost on the verge of being sold. Apparently, the company had a verbal deal with Saudi Arabia’s Public Investment fund. Being the majority shareholder in the WWE, Vince’s return was imminent. Hence, the Board of Directors voted McMahon as the Executive Chair.
Hence Stephanie’s exit was perhaps a necessity for the reported sale. However, was it because of Vince McMahon? There was no official word on it. It is possible that McMahon walked away because of the company’s different direction. So it remains to be seen what unfolds next in this saga.