Ric Flair, a pro wrestling legend with a career that defined the business, was once known for his lavish lifestyle. Famous for his 16 world championships, he was the face of the National Wrestling Alliance (NWA) and maintained star status even into the 90s with stints in WWE and WCW. As a high-profile figure, Flair was one of WCW’s highest-paid wrestlers and earned a hefty salary upon his return to WWE in 2001. However, despite his fame and the millions he made, Flair faced numerous financial difficulties that have plagued him for years.
Ric Flair’s Lavish Lifestyle and Its Financial Toll
Flair’s persona as “The Nature Boy” was all about extravagance: limousines, helicopters, jets, and expensive suits. At the height of his career, he even spent $40,000 on a single robe and accumulated a collection of expensive jewelry. However, this lifestyle, although fitting for his character, came at a significant financial cost. By 2022, Ric Flair’s net worth was reported at only $500,000, a far cry from the millions he earned during the 1990s. His financial troubles were largely the result of poor investments, lack of financial planning, and his inability to live within his means.
The IRS and Financial Missteps
One of the major reasons for Flair’s financial downfall was his failure to pay taxes during his prime. Throughout the 1980s, Flair neglected his tax obligations, which led to a long battle with the IRS. His financial issues culminated in 2005 when the IRS seized his earnings to recover unpaid taxes. Despite paying off some of these debts, his financial woes didn’t end there. In 2019, Flair was still facing substantial tax liabilities, including a $280,000 payment due. On top of that, Flair made disastrous investments, including an illegal financial program that caused further complications.
Loans, Lawsuits, and Debt
Flair’s financial management worsened when he borrowed substantial sums from friends and business partners. Vince McMahon, WWE’s chairman, was one of those who lent Flair money during his financial crises. At one point, Flair owed McMahon $800,000, which McMahon eventually forgave. Despite these interventions, Flair continued to spiral deeper into debt, taking out loans that he couldn’t repay and dealing with numerous lawsuits.
Flair’s Comeback and Continued Money Struggles
Flair’s return to wrestling in 2022 for what was dubbed “Ric Flair’s Last Match” was partially motivated by his dire financial situation. He reportedly made $300,000 from that match, a reminder that Flair was still chasing money well into his retirement years. Even at 75, he continues to capitalize on his fame, promoting ventures like his Wooooo Energy drink and cannabis line with Mike Tyson.
Current Financial Status: Still Making Money, Still Spending Big
Despite his turbulent financial history, Flair is still making money. In addition to his energy drink and cannabis ventures, he recently garnered attention for a controversial restaurant incident where he boasted about his wealth and spent $1,500 on dinner. His public displays of wealth, including tipping $1,000, underscore his continued association with a lavish lifestyle, even if it is unsustainable.
In 2024, Flair’s financial journey remains a complex one, marked by early success, major setbacks, and ongoing efforts to maintain his high-profile persona. His story is a cautionary tale of the dangers of living beyond one’s means, but also a testament to his relentless drive to stay in the spotlight.
