McMahon first became a billionaire in 2000.
According to a report from Forbes, WWE CEO Vince McMahon has lost his billionaire status. But don’t worry, he’s still worth an estimated $750 million.
McMahon’s fortune dropped $350 million when WWE’s stock tanked Friday after investors learned the details of a new TV deal with NBC Universal. Benchmark analyst Mike Hickey told Forbes that WWE got an estimated 50 percent increase over its last TV deal, but he thought the new agreement would pay the company double or triple its previous one.
Despite investor reaction, McMahon, who built his empire on signing TV deals, said WWE is head in the right direction.
“We continue to achieve significant increases in the value of our largest television agreements, a key component of our business plan,” McMahon posited in a statement. “The rising value of our content coupled with the global expansion of WWE Network will provide the foundation for long-term growth that continues to transform our business over the coming years.”
According to Forbes, McMahon first became a billionaire in 2000. A year later, however, he lost his status until early 2014. Now, it appears that McMahon will once again have to figure out a way to climb back onto the list.
What do you think? Will WWE be able to satisfy investors again? Start a conversation in the comments section.
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