When wrestling legend Hulk Hogan passed away last week at age 71, the sports entertainment world lost an icon who helped transform professional wrestling into a global phenomenon. Yet, according to various gossip outlets behind the legendary career and larger-than-life persona, Terry Bollea might have been grappling with some financial challenges.
Crunching the Numbers
This claim is despite his net worth being an estimated $25 million at the time of his death. His fortune was built on his long WWE career, endorsements, reality television as well as a Hogan major financial settlement from Gawker over a sex tape that they published portions of without his consent. The lawsuit resulted in the publication paying him $31 million in a settlement in 2016.
Hogan, who died on July 24, also owned real estate, and this is where the current rumor of possible money struggles seem to stem from.
Just over a year before his death, Hogan took out a substantial $2 million mortgage on his Clearwater, Florida, mansion in November 2023. This move was particularly significant because Hogan had purchased the property for $3.3 million in 2012, according to RadarOnline.
The 30-year loan through JP Morgan Chase was structured under his trust, with his third wife Sky Daily — whom he had just married in September 2023 — listed as a non-borrowing spouse.
Unlike what RadarOnline suggests, Hogan’s move is quite common among the wealthy. “But uber-wealthy folks are in a different position. Those with billions of dollars to their name can buy a home outright rather than take out a loan,” Moneywise reports. “Yet celebrities like Mark Zuckerberg, Elon Musk and Jay-Z have all made headlines for taking out multimillion-dollar mortgages — not out of necessity but to reap a couple of key benefits.”
Why? Because it helps preserve liquidity, keeping cash free for other high-return investments instead of locking it away in a relatively illiquid asset like real estate. And with more cash avaiable, they can invest more and most likely make more money.
Take hip-hop billionaire Jay-Z and Beyoncé, who has a net worth of an estimated $780 million, and whose Cowboy Carter tour just raked in over $400 million. Recently, the powercouple allegedly took out a second mortgage on their $88 million Bel-Air mansion, a home they could have paid for outright.
This might have been what Hogan did, though his reasoning has not been confirmed.
There were reports of a legal battle Hogan was involved in over a home improvement project that became a costly legal nightmare when he hired a pool company in 2023 to install a pool and jacuzzi. The situation spiraled when another homeowner sued the same company for incomplete work, and the company claimed they couldn’t settle because Hogan still owed them money. This led to garnishment proceedings against the wrestling legend, though his lawyers denied the debt allegations.
Also, for nearly two decades Hogan had up until recently been battling his second wife, Linda, over their 2007 divorce filing. Linda wasn’t seeking traditional alimony — she wanted a substantial piece of the Hulk Hogan brand itself. In court filings, she argued that she helped build the Hulkamania phenomenon during their marriage and deserved ongoing proceeds from his character appearances and licensing deals.
The February 2023 filing showed Linda’s determination to secure what she viewed as her rightful share of the empire they built together. A supplemental final judgment was entered in April 2023.
But Hogan was working in some form or another up until the end, hosting events and endorsing products. In 2024, he gained attention for backing Real American Beer.
Additionally, he supported President Donald Trump’s campaign. While suspected, it remains uncertain whether he received compensation for these endorsements.
Under Florida inheritance law, Sky Daily stands to inherit 30 percent of Hogan’s estate, which includes the mortgaged mansion, various investments, and business ventures. Hogan’s daughter Brooke years ago opted to be taken out of her father’s will, but was included in an insurance trust. Hogan, whose legacy was stained by racist comments he made, also left behind a son.
