McMahon became involved in the sports-entertainment business after a ring announcer left abruptly and his father, Vincent J. McMahon, needed a replacement. He purchased Capitol Wrestling Corporation - the parent company of World Wide Wrestling Federation (WWWF) - from his father, whom he didn't meet until he was 12. Capitol dominated pro wrestling in the Northeastern United States during the mid-20th century, when it was divided into strictly regional enterprises. Against his father's wishes, McMahon began an expansion process that would fundamentally change the sport.
He was put on trial in 1994 accused of distributing steroids to his wrestlers. As a legal move, his wife Linda was made CEO of the WWF during the trial. He was acquitted of all charges.
In 1999, he took the WWF public. Forbes has put his net worth at $700 million.
In 2001, his company created a joint venture with NBC for a new professional American football league, the XFL. The league folded after one season.
He married the aforementioned Linda Edwards on August 6, 1966. They have two children, Stephanie and Shane; both are involved with the WWE. On February 13, 2004, they became grandparents when Shane's son, Declan James McMahon, was born.
