Mid-South Wrestling - DiBiase spent a good portion of his career in Mid-South Wrestling, holding the Mid-South North American Championship 5 times and the Mid-South Tag Team title 5 times with four different partners. He did have a brief run in the WWF in 1979 where he was billed as the North American Champion only to lose the belt to Pat Patterson. That title was then dropped in favor of the Intercontinental Championship.

He has also been involved in several of the most memorable angles in wrestling history. In 1982, a face DiBiase stated he would defeat Bob Roop for the North American title or leave Mid-South. The Junkyard Dog won the title from Roop and had to face DiBiase, who was his best friend, with the stipulation still in place. During the match, DiBiase used a loaded glove to knockout the Dog and win the title turning heel in the process. DiBiase and fellow heel Jim Duggan later formed a team called 'the Rat Pack' and in a loser leaves Mid-South match, Duggan in a gorilla suit interfered to send the Dog packing.

DiBiase would later turn on Duggan which set up a Best Dressed Man in Mid-South angle between the two. DiBiase, who was carrying a baseball bat to defend himself from Duggan's 2x4, went outside the arena to confront Mid-South television director Joel Watts about the noise meters being used in the contest. He recognized Duggan's car parked nearby and promptly smashed its windshield. This later led to a series of cage matches, no-disqualification matches, and Tuxedo-and-a-Coal-Miner's-glove-atop-a-pole matches between the two.

The Natural Butch Reed was supposed to get a shot at Ric Flair's NWA title but Flair and Dick Slater injured Reed the week before. DiBiase was awarded the match. However, before the match started, Dirty Dick Murdoch came out to demand that DiBiase step aside and give him the match. DiBiase refused and Murdoch jumped him, bloodying DiBiase so much that the match had to be canceled (Flair said he was happy to get a night off). Eventually a bandanged DiBiase came back out to the fans chanting his name. He fought Flair and lost via count-out. Later, Murdoch came back out and gave DiBiase a brainbuster on the concrete floor. In his last match before making it big, DiBiase had a classic battle with "The Chest" Chris Ewell. Ewell suffered a career ending injury as a result of a botched splash. Dibiase won the match and as a tribute adopted Ewell's "I'm richer and better than you persona" that we all know DiBiase by today. DiBiase formed a foundation for Ewell and the two remain friends to this day.

World Wrestling Federation- In the World Wrestling Federation, DiBiase became one of the most hated heels of all time. He was known as "The Million Dollar Man," a millionaire who wore a gold-studded, dollar-sign-covered suit and, later on, a custom-made "Million Dollar Belt" around his waist as he entered the ring. He claimed, "Everybody has a price," demonstrating his "power" through a series of vignettes in which he did things such as bribe the manager of a local swimming pool to close for the day so he could have the pool to himself. Other skits featured DiBiase traveling in limousines, giving $100 tips to waiters, and using $100 bills in convenience stores for small purchases like chewing gum.

In other promotions, DiBiase would invite fans (including a young Rob Van Dam) into the ring or to the interview platform to perform humiliating acts (such as kissing his feet) for money. One of the more infamous of these skits was when he invited a young boy onto a stage and told him if he bounced a ball 15 times in succession, DiBiase would pay him $500. After the 14th bounce, DiBiase kicked the ball away, sending the boy home without pay.DiBiase acquired a bodyguard, Virgil(real name Mike Jones), who eventually grew tired of DiBiase's abuse and made an inspirational face turn at the 1991 Royal Rumble.

DiBiase was a skilled technical wrestler, and many fans desired that he turn face. His finishing maneuver was the 'Million Dollar Dream' (a modified STP/cobra clutch). After putting his opponents to sleep with this maneuver, he stuffed $100 bills down their throats, uttering his signature lines ("Everyone's got a price," and "Everyone's got to pay."), and laughed, IT WAS AWESOME!

He was unpopular because he was an enemy of fan-favorite champions. On an episode of "WWF Superstars of Wrestling", he announced his plan to buy the WWF Championship and offered Hogan a large sum to surrender the belt. However, Hogan refused and said that DiBiase would have to defeat him in the ring for the belt; this sparked a memorable feud between the two. Hogan got the upper hand in a series of matches, and a frustrated DiBiase approached André the Giant to win the belt for him.

On February 5, on "The Main Event" live on NBC, André defeated Hogan in a very questionable decision for the WWF Championship; Andre then announced he was surrendering the belt and handed it to DiBiase. The WWF refused to acknowledge DiBiase as the champion (since the title cannot be bought or surrendered) and declared the title vacant. DiBiase was runner up in the tournament held at WrestleMania IV to fill the vacancy, defeated by "Macho Man" Randy Savage(OH YEAYAHHHHH! Sorry, I couldn't resist!). He was later involved in popular feuds with Jake "The Snake" Roberts and "The American Dream" Dusty Rhodes(The Bull of The Woods, 285 pounds of sweet, sweet soul!). In 1990, he broke the then-"Iron Man" record by lasting over 40 minutes in the Royal Rumble.

In later years, DiBiase formed a very successful tag team, Money Inc., with Irwin R. Schyster (IRS)(Syracuse University and WCW star Mike Rotunda). The duo were three-time WWF World Tag Team Champions. DiBiase wrestled until late 1993 when back and neck injuries forced him to leave active participation in the ring for good, but he remained on as a manager in both the WWF and later its rival, WCW.

Dibiase introduced The Undertaker(Mark Calaway) to the WWF at the 1990 Survivor Series, claiming the Taker as his protege. Starting in 1994, DiBiase "purchased" the services of many wrestlers for his Million Dollar Corporation stable in the WWF, which over time included himself, I.R.S., Bam Bam Bigelow, Tatanka(Chris Chavis), Nikolai Volkoff, Kama(Charles Wright), King Kong Bundy(Chris Pallies), Sycho Sid(Sid Eudy), 1-2-3 Kid(Sean Waltman, Tupac) and "The Ringmaster" Steve Austin.

DiBiase's millionaire gimmick later influenced the characters of Tiger Ali Singh and John "Bradshaw" Layfield.

World Championship Wrestling - In WCW, Tedmanaged the nWo immediately after their formation in 1996, claiming to be financing the coup (thus playing on his "Million Dollar Man" gimmick which WCW could not legally use outright). Less than a year later, he left the nWo and made a shocking face turn, managing The Steiner Brothers against the nWo until Scott(Big Poppa Pump) turned heel and joined the group. DiBiase also managed Ray Traylor(Big NBossman, Big Bubba) for a while as an ally to the Steiners but eventually stopped managing altogether.

DiBiase is now a Christian minister who runs combined Christian/wrestling events under the promotion, Power Wrestling Alliance. He frequently works with Nikita Koloff, another born-again Christian at these events. In 1999, he founded Heart of David Ministries.