Laverne Clarence Gagne was born on 26 February 1926, in Corcoran, Minnesota USA, and was a professional wrestler, wrestling trainer and promoter, best known to have been the owner of the American Wrestling Association (AWA) being head of the company until it folded in 1991. All of his efforts have helped put his net worth to where it was prior to his passing in 2015.
How rich was Verne Gagne? As of early-2017, sources inform us of a net worth that was at $1.5 million, mostly earned through a successful career in professional wrestling. He held the AWA World Heavyweight Championship 10 times and holds the record for the longest combined reign as a world champion. All of these achievements ensured the position of his wealth.
Verne Gagne Net Worth $1.5 million
At the age of 14, Verne left home after his mother died, but attended Robbinsdale High School and excelled in numerous sports including wrestling. He won various championships while wrestling for his school, and was also named to the All-State football team. He was recruited to become part of the University of Minnesota, and played there for one year, but then enlisted with the Navy Underwater Demolition Team, although later returning to the university. There he played as an amateur wrestler and won two titles. He also became part of the US freestyle wrestling team as an alternate during the 1948 Olympic Games. He also joined the National Football League (NFL) and was drafted by the Chicago Bears in the 16th round of the 1947 NFL Draft, but was forced to make a decision between wrestling and football, and since wrestling paid higher at the time, that settled the matter.
In 1949, Gagne started wrestling professionally and made his debut in Texas. A year later, he would win the National Wrestling Alliance (NWA) Junior Heavyweight title. In 1953, he won a Chicago version of the championship, and started to become one of the most popular names on television, increasing his net worth somewhat. He continued wrestling for the promotion in the 1950s, but in 1960 he focused on his own promotion, establishing the AWA and quickly becoming the top star of the promotion. He won the AWA World Heavyweight Championship, going on to win the title nine more times throughout his career. He had one of the longest title reigns in history, holding the belt from 1968 to 1975 with only two other people in wrestling history to hold a belt for a longer time. He feuded with other popular wrestlers such as The Crusher, Ray Stevens, and Larry Hennig, but lost a lot of wrestlers to the WWF after Vince McMahon decided to go national and make his company one of the largest in North America. AWA tried to compete by getting national exposure as well, however, disagreements with ESPN made it difficult for the company. In the 1980s, a lot of wrestlers would shy away from the company, and in 1991 it folded.
In 2009, Verne was inducted into the WWE Hall of Fame by his son, making him one of only six people to have been inducted in the Professional Wrestling, WWE, and WCW halls of fame.
For his personal life, it is known that Gagne was married to Mary until 2002, with whom he had two children. He was later diagnosed with Alzheimer’s disease, apparently mainly caused by the head injuries he received throughout his career. He passed away in 2015 at the age of 89.
