What Is Eric Bischoff's Net Worth and Salary?
Eric Bischoff is an American television producer, professional wrestling booker, promoter, and performer who has a net worth of $10 million. Eric Bischoff is best known for serving as Executive Producer and later Senior Vice President of World Championship Wrestling (WCW). He later became the on-screen General Manager of the WWE's Raw brand. He was inducted into the WWE Hall of Fame in 2021.
Early Life
Eric Bischoff was born on May 27, 1955 in Detroit, Michigan. Before he got involved in the world of wrestling, he had a number of other occupations. Eric acted in a training video for bank employees regarding fair lending practices, owned a successful landscape construction company, worked as a veterinary assistant, competed as a professional kickboxer, and ran a butcher shop where he sold meat via van delivery.
Career
Bischoff started working in wrestling for the Minneapolis-based American Wrestling Association in 1986 under the ownership of Verne Gagne. In 1989, he became an on-air interviewer and host of the AWA until the company folded in 1991.
In 1991, Bischoff joined World Championship Wrestling as an announcer. In 1993, he applied for the position of Executive Producer of the WCW and got the job. In 1994, Eric was promoted to Senior Vice President. In this role, he was instrumental in convincing executives to better finance the WCW so that they could compete with the WWF, the World Wrestling Federation. He was also instrumental in signing Hulk Hogan to WCW, investing more money in production values, and increasing the number of WCW pay-per-views. He also started a weekly live program on TNT called "WCW Monday Nitro" that competed against the WWF show, "Monday Night Raw." Bischoff remained an announcer on "Nitro," where he would regularly spoil the results of "Raw" to boost ratings. In 1995, WCW turned a profit for the first time in the company's history. By 1997, Bischoff's official job title was President of WCW.
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Bischoff was also instrumental in encouraging the development of the New World Order, a group of wrestlers who were rebels in the world of the WWF but were also not under contract with the WCW. New World Order was depicted as a rival company engaging in a hostile takeover of the WCW. The angle grew increasingly complex over the weeks, drawing many new fans to the WCW. By 1997, the WCW overtook the WWF as the number one wrestling promotion in the country, with "Nitro" defeating "Raw" in the ratings by a wide margin for 83 consecutive weeks.
However, the WWF returned to its former glory after a rebrand with new superstars like Mick Foley, The Rock, Stone Cold Steve Austin, and the transition of announcer Vince McMahon into a character. In April 1998, WWF ended the 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 was hired by World Wrestling Entertainment (WWE), which had been formerly known as the WWF. He was hired to be the general manager of "Raw" in a primarily 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.
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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.
Personal Life
Bischoff 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.
