Million Dollar Belt: The Real Price For WWE's Most Expensive Championship Ever "The Million Dollar Man" Ted DiBiase created the title in 1988 and this past week, L.A. Knight became its first holder in over ten years.

You are watching: How much is the wwe belt worth

Million Dollar Champion L.A. Knight
It"s one of the most coveted titles in wrestling history. Any WWE fanatic knows the iconic diamond crested that only goes to the toughest of wrestling pros and has one of the most exclusive lineages in the sport.

It first came into WWE lore in 1988 by the legendary Hall of Famer, Ted DiBiase. When he was stripped of the World Championship that he attempted to buy from Andre The Giant, he created the Million Dollar Championship. For decades, he best of the best ducked it out for the chance to obtain the iconic Million Dollar Belt. From The Ringmaster in the mid-90s to LA Knight today, those who reigned victories are cemented as kings of the WWE.

RELATED: Cardi B To Host WWE SummerSlam?

The History of the Belt

Ted DiBiase, better known as the "Million Dollar Man", was the first to let fans know of his immense wealth. His flashy, aristocratic air upset audiences in such a egregious way, he became on of the most disliked heels in WWE history.

"The first time I walked out into an arena, the people were booing me out of the building," DiBiase tells in an interview for WWE"s website.

History was made during the Main Event during 1988. After Andre the Giant defeated Hulk Hogan in the WWE Championship, DiBiase tried to buy the championship title off of him - showing that there"s really nothing he can"t buy. DiBiase failed to actually win the belt when he lost to Randy Savage.

Though, this didn"t work out in DiBiase favor. The heads of the WWE voided the transaction and declared the title invalid. A separate tournament was set forth to crown a new champion. But DiBiase had even more tricks up his sleeve.

"You just come out and say, ‘Y’know what? I don’t need your stinkin’ title. I’m going to create my own," the Million Dollar Man says, "A title that’s beautiful, worth more money than the WWE Title and declare myself the champion."

He created the Million Dollar Championship as a non WWE sanction title. Viewers got to see DiBiase multiple trips to the jeweler to create the new, stunning belt. Fans saw the full process from start to finish as DiBiase frequented Betteridge Jewelers in Greenwich Village.

See more: How Long Does It Take To Die From A Stab To The Heart, Suicide By Self

The Real Cost

First off, contrary to popular belief, the belt is bedazzled with cubic zirconia stones. Not diamonds. So, is the belt worth a million bucks?

The answer is no. According to Insider Pulse, the belt was worth $40,000 when it was first created back in the 80"s. That"s about $960,000 off.