Vincent Kennedy McMahon appears to have cleaned up during the coronapocalypse. No, I’m not talking about maintaining a sanitary environment for his wrestlers and staff during the COVID-19 crisis. Instead, Vinnie Mac’s priority has been the almighty dollar. The WWE kingpin I just one of several Connecticut billionaires who saw their bank accounts grow during the coronapocalypse. According to The Middletown Press:
Eight of Connecticut’s 14 billionaires have seen their wealth increase amid the coronavirus pandemic even as 400,000 people in the state lost jobs, according to a report by a consortium of advocacy groups based on Forbes estimates.
As you might expect, advocates are disturbed by this big bump for billionaires, perhaps not the fact that they’ve accumulated more wealth during the crisis, but that the gap between the have and have not’s continues to grow. Ann Pratt of the Connecticut Citizen Action Group voice her concerns:
“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,”
There’s nothing wrong with someone using their financial resources to take advantage of the market, whether it’s a strong market or a weak market. It’s something that’s inherent in capitalist financial system. Where some people (including myself) have a problem is when someone apparently (I’d say obviously, but upon the advice of my legal counsel I’m using “apparently”) disregards their workers’ safety in order to keep making money. If the WWE had implemented strong preventative measures to protect its workers and fans from COVID-19, their continued operation of wrestling shows might be tolerated.
Instead, the WWE has applied what appear to be minimal safety precautions as it continued running shows. In a dick move (a term coined by economist John Maynard Keynes), the WWE laid off a slew of wrestlers and furloughed employees when other wrestling companies continued keeping everyone on the payroll.
So no, it’s not that Vince McMahon made his money during a worldwide pandemic, it’s that he did so in a completely contemptible way.