Net Worth Ranker
What Is Eric Bischoff’s Net Worth?
Eric Bischoff, a prominent figure in professional wrestling as a television producer, booker, promoter, and performer, has accumulated a substantial net worth of $10 million. This wealth is primarily attributed to his multifaceted career within the wrestling industry, where he held key positions in major organizations such as World Championship Wrestling (WCW) and World Wrestling Entertainment (WWE). His roles ranged from executive producer to on-screen general manager, contributing significantly to his financial success.
Eric Bischoff’s Early Career and Rise in WCW
Born on May 27, 1955, in Detroit, Michigan, Eric Bischoff’s path to the wrestling world was unconventional. Before entering the industry, he engaged in various occupations, showcasing his entrepreneurial spirit. He appeared in a training video for bank employees, demonstrating fair lending practices. He also owned a landscape construction company, worked as a veterinary assistant, and even competed as a professional kickboxer. Additionally, he ran a butcher shop, delivering meat via van. These diverse experiences likely honed his business acumen and prepared him for the challenges of the wrestling industry.
Bischoff’s wrestling career began in 1986 with the Minneapolis-based American Wrestling Association (AWA) under the ownership of Verne Gagne. By 1989, he had transitioned to an on-air interviewer and host, remaining with the AWA until its closure in 1991. In 1991, Bischoff joined World Championship Wrestling (WCW) as an announcer. His ambition and vision quickly propelled him up the ranks. By 1993, he secured the position of Executive Producer, demonstrating his leadership and creative capabilities. In 1994, Bischoff’s role expanded further with a promotion to Senior Vice President. This promotion was a testament to his growing influence and strategic thinking within the company.
In his role as Senior Vice President, Eric Bischoff played a critical part in transforming WCW into a major competitor against the World Wrestling Federation (WWF). He successfully convinced executives to increase financial investments in WCW, enabling the company to attract top talent and enhance production values. A pivotal moment was the signing of Hulk Hogan, a major star, to WCW, which signaled the company’s commitment to competing at the highest level. Bischoff also spearheaded the launch of a weekly live program on TNT called “WCW Monday Nitro,” directly challenging the WWF’s “Monday Night Raw.” “WCW Monday Nitro” aimed to captivate audiences and secure ratings dominance in the wrestling market. Bischoff remained an announcer on “Nitro,” where he would strategically reveal the outcomes of “Raw” to boost viewership. This tactic, while controversial, proved effective in attracting viewers to WCW’s programming.
By 1995, Eric Bischoff’s leadership led WCW to achieve profitability for the first time in its history. This financial turnaround underscored the effectiveness of his strategies and his ability to drive growth. By 1997, Eric Bischoff’s official job title was President of WCW, reflecting his ultimate authority and responsibility for the company’s success. He masterminded the New World Order (nWo), a group of wrestlers portrayed as rebels from the WWF who sought to take over WCW. The nWo storyline introduced a complex and engaging dynamic, attracting new fans and generating significant buzz. By 1997, WCW surpassed the WWF in popularity, with “Nitro” consistently outperforming “Raw” in the ratings for 83 consecutive weeks. This period marked the peak of WCW’s success and Bischoff’s most significant accomplishment.
Decline of WCW and Transition to WWE
Despite the peak success, WWF rebranded their product and found new superstars such as Mick Foley, The Rock, Stone Cold Steve Austin, and the transition of announcer Vince McMahon into a character. In April 1998, WWF ended WCW’s ratings domination, which marked the start of the WCW’s decline. By late 1999, the WCW began losing $5 million a month. In September, Bischoff was relieved of his management position.
In 2002, Eric Bischoff joined World Wrestling Entertainment (WWE), formerly known as the WWF. He was hired as the general manager of “Raw,” primarily in an on-screen role. Over the next few years, he was engaged in many on-screen dramas with other wrestlers and general managers. He remained in this role until 2005, when he was dramatically fired from the position after John Cena body-slammed him and Vince McMahon tossed him into a garbage truck. He then sat through a trial in which all of his unscrupulous actions were listed before he was driven out of the arena.
Post-WWE Career and WWE Hall of Fame Induction
Over the next few years, Bischoff made sporadic appearances on WWE. In 2009, he helped negotiate a deal among Total Nonstop Action Wrestling (TNA), Hulk Hogan, and himself. He premiered alongside Hogan in early 2010 in an episode of “Impact!” He remained on TNA until 2014. Bischoff later stated that he did not enjoy his time with TNA overall and regretted working with the network.
In 2019, Bischoff began working with the WWE again as the executive director of “SmackDown.” However, he remained in the position for only a few months before leaving. In April 2021, Eric was inducted into the WWE Hall of Fame. Bischoff has had a lasting impact on the world of professional wrestling. He was instrumental in the creation of the New World Order, which played a major role in WCW’s success and peak during the Monday Night Wars. Even some of his critics have credited him with bringing more attention to the wrestling world. Vince Russo, who was critical of Eric during the time they spent working together in WCW and TNA, has acknowledged Bischoff’s tremendous contribution to professional wrestling.
Eric Bischoff’s Personal Life and Other Ventures
Bischoff’s personal life includes two marriages. He was married to his first wife, Kimberly Bowman, from 1979 to 1982. In 1984, he married his second wife, Loree Bischoff. Together, they have two children – a son named Garett, born in 1984, and a daughter named Montanna, born in 1985. His son Garett made his debut for TNA Wrestling in 2010 under the ring name Jackson James. He worked as a referee before later becoming a wrestler under his real name.
In 2011, Bischoff announced he started a brewing company in Cody, Wyoming. The company called their first beer the Buffalo Bill Cody Beer. In addition to his interest in beer, Eric has been a longtime fan of the jam band Phish and collects recordings of their concerts and other band memorabilia. All of these outside ventures and entrepreneurial efforts have further supported Eric Bischoff’s Net Worth’ and helped him continue his success beyond the wrestling world.
