WWF/E owner Vince McMahon lost $357 million yesterday after investors switched on him for signing a new television deal with NBC Universal for less than they hoped for. Vince managed a 70% increase in rights fees but had hyped up the investors’ expectations so much that they were disappointed he didn’t get twice or three times more.
The whole thing left Vince McMahon losing $357 million, nearly a third of his fortune, in one day as WWE stock plummeted 40%. Sounds pretty horrible but I guess if you’re losing $357 million in one day then you must be doing something right. It’s just so weird to think of Vince as not being a billionaire. If anyone should be the face of billionaires everywhere it has to be Vince McMahon. Or is this some kind of WWE/NASDAQ storyline that’s going to play out on TV? Can’t wait to see how he comes back from this one.
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