How Ric Flair Lost His Money, Explained (2024)

Ric Flair is an all-time great in the pro wrestling industry, and according to a vast majority of current wrestlers, he might just be the greatest of them all. The 16-time world champion was the face of the National Wrestling Alliance, and while he wasn’t as big of a draw as Hulk Hogan at the time, the Nature Boy was still regarded as a star attraction. His gimmick was gold and his in-ring work was stellar. As the face of the NWA, Flair made quite a lot of money. His star power remained intact throughout the 90s, and he had no trouble finding employment with WWE and WCW. Ric Flair was one of the highest paid wrestlers on the WCW roster and Vince McMahon gave him a decent contract upon his return to WWE in 2001.

Ric Flair Lived His Nature Boy Gimmick In Real Life

Ric Flair's Gimmick Was All About Living The High Life

• Ric Flair was often showered in money
• He traveled in limousine's, helicopters, jets, and more
• Ric Flair lived this gimmick and did the same in real life outside of wrestling

He was the limousine-riding, jet-flying, kiss-stealing, wheelin' n' dealin’ megastar, but nowadays, his wealth is all gone. According to some sources, his entire net worth, in 2022, is about $500,000. This guy was making multi-millions in the 1990s, so what happened? It all came down to financial blunders and living the gimmick in real life.

Expensive robes and suits, a number of expensive cars, and a high budget for outdoor dining were the norm for Ric Flair for most of his life as Richard Morgan Fliehr started living the lifestyle of Ric Flair, the supremely successful billionaire. The Nature Boy once spent $40,000 on a robe that struck his fancy, and this is not counting the copious amounts of expensive jewelry he bought over the years. Beyond that, Flair was not too savvy when it came to financial planning.

Ric Flair Got In Trouble With The IRS

Flair Feuded With THe IRS (& Not Mike Rotunda)

• Ric Flair avoided paying tax during his prime
• Ric Flair has been followed by the IRS throughout the last few decades
• Flair invested his money in the incorrect places, causing issues

Throughout the 1980s, Flair did not pay taxes, making the IRS his rival for the rest of his life. The IRS came knocking on his door in the 1990s, and while Flair was able to pay the owed amount, this set the tone for the rest of his life. In 2005, the IRS seized his earnings to pay back the taxes he owed. As recently as 2019, Flair was served a notice to pay $280,000 and the troubles continue to this day. Flair was also prone to investing in the wrong places. The Ric Flair Finance program was struck down almost immediately as it was illegal. Flair had invested quite a lot of his money into the project, albeit he was pushed into the project by a shady guy named Chris Porter. Porter then sued Flair for a loan he was owed and that brings up factor number three; Flair took a lot of loans and barely paid them back.

The Nature Boy had to borrow a substantial amount of money from McMahon to pay the taxes he owed to the IRS, and while McMahon forgave the loaned amount, the other folks didn’t. He was sued so often on the basis of a default that Flair’s own lawyers sent him letters for professional fees. With all the people looking to get their money back, and the IRS knocking on his door every month, Ric Flair burned through the wealth in his coffers and soon after his WWE exit in 2008, he was almost bankrupt and living on his monthly paycheck.

Richard Fliehr Could Not Afford Living Like Ric Flair

The Man Behind The Gimmick Couldn't Live Up To His Own Expectations

• Ric Flair spent a lot of money through his life
• Finances were spent through his various divorces
• Flair needed to rely on others to support his lavish lifestyle

Ric Flair also went through five divorces, but even with all these financial troubles going on in his life, Richard Morgan Fliehr was still living his life as the Nature Boy, spending $14,000 on Christmas gifts and $200,000 on jewelry in 2009. In that same year, Flair was under an insurmountable level of debt, but the lavish lifestyle kept going.

Highspots was a wrestling merchandise company, and the owner, Michael Bochicchio, got in touch with Ric Flair for some video projects. The deal fell through but Bochicchio remained friends with Flair, and he would lend him money from time to time. Early on, Flair only asked for a couple thousand dollars, but as time went on, he requested more and more. Flair put forward his NWA belt as collateral, and when Highspots went to sell the belt, they found out that the same belt served as collateral to a different company. And Ric Flair owed said company an even bigger amount of cash. Bochicchio said (H/T Cageside Seats) that Flair had absolutely no plans for the future. In the end, Richard Morgan Fliehr could never separate himself from Ric Flair.

Ric Flair Was Helped Out By Vince McMahon

Billionaire Vince McMahon Got Ric Flair Out Of Trouble

• Vince McMahon himself has shelled out a lot of money throughout his life
• McMahon got Ric Flair out of some tough spots
• McMahon has a close bond to those who have been loyal to him

As previously noted, Ric Flair ended up both spending and borrowing a lot of money, and he revealed a lot of this information himself, being very open about his financial troubles. Speaking on a WWE Network edition of the Broken Skull Sessions podcast with Steve Austin, Flair revealed that Vince McMahon said to him after lending him a huge lump of money.

There are many wrestlers who have a strong, close bond to Vince McMahon, and this is something that certainly helped Flair out of a sticky situation. Not everything was doom and gloom for Flair, noting in that interview with Austin that;

Ric Flair Came Out Of Retirement Due To Money Issues

Ric Flair Risked His Legacy

• Ric Flair came out of retirement in TNA
• Flair wrestled again in 2022
• Flair was paid money for his comebacks to help him out

Ric Flair would wrestle his last WWE match back in 2008 at the WrestleMania 24 event and in return for the favors given to him by Vince McMahon, Flair supposedly gave his pay for that show back to McMahon. His match against Shawn Michaels was absolutely perfect, with emotion filled throughout which acted as the most wonderful send-off for a legend ever. That was until Flair struck some money troubles again, selling his soul and coming out of retirement in TNA/IMPACT.

Flair’s run in the promotion wasn’t a pretty sight to see, as he was far past his prime by this point, but was clearly desperate enough to risk ruining his legacy - something which he did in fact do damage to during this spell with the promotion. Flair would also recently come out of retirement for a second time, and it is hard to argue with the notion that it was in fact money-oriented yet again, especially since he revealed on the To Be The Man podcast that he made $300,000 from the match. He has been someone who has always needed extra cash, even in the last couple years.