Former professional wrestler Hulk Hogan won a huge jury award in his case against Gawker. He was awarded $115 million in compensatory damages and a little over $25 million in punitive damages. How much is Hogan’s net worth and how does it compare with what he was awarded?
Here’s what you need to know.
1. Hulk Hogan’s Net Worth Is $25 Million
Born Terry Gene Bollea, he made his fame and the bulk of his money through his professional wrestling career. In the late 1980s and 1990s, 30 million people would sign up for pay-per-view to watch Hogan on WrestleMania. Hogan then used his fame to launch an acting career. He appeared in Rocky III and the TV series Thunder in Paradise, among other appearances.
2. He Lost Much of His Money After His Divorce
When Hogan’s first wife Linda Claridge filed for divorce in 2007, it was revealed that he was worth $30 to $40 million. However, he had to pay her 70 percent of the couple’s assets, which added up to about $30 million in cash, property, and cars. He later said that this brought him to the brink of bankruptcy.
3. Hogan Said He Also Lost a Significant Amount of Money Through a ‘Lavish’ Lifestyle
In 2011, The Daily Mail reported that Hogan was selling his mansion in Florida and living in a rental home after he had spent “hundreds of millions” back in his glory days. At the time, he said he was “living in abundance” in his rental house, and he was happy and grateful. He admitted, however, that his lavish lifestyle had played a role in nearly bankrupting him.
4. He Built Himself Back Up Financially
Hogan recovered financially by rejoining WWE in February 2014 and becoming the host of WrestleMania. He was later let go from that position in 2015, due to racial remarks overheard on the sex tape that is at the center of Hogan’s lawsuit against Gawker.
Hogan still makes money through investing in businesses and real estate in Florida. He also earns residual income from merchandise sales connected to his Hulk Hogan brand, according to Celebrity Net Worth. He’s been connected with many different financial pursuits over the years. In October 2013, he partnered with Tech Assets to open a web hosting service called Hostamania. He also became a distributor for ViSalus Sciences an MLM company.
5. Hogan Was Awarded $115 Million for Economic Injury and Emotional Distress
Hogan was awarded $115 million total in compensatory damages. That includes $60 million for emotional distress and $55 million for economic injuries, Slate reported. He has also just won a little over $25 million in punitive damages, including $15 million from Gawker, $10 million from Nick Denton (Gawker’s founder) and $100,000 from Daulerio, CNN reported. If Hogan receives the full amount, it will be significantly more than his total net worth. Gawker is expected to appeal the decision.
Hogan also filed a medical malpractice suit against the Laser Spine Institute in Tampa in 2013, FindLaw reported. He is seeking $50 million in damages, claiming the clinic performed unnecessary surgeries on him and the procedures weren’t as effective as advertised.