Have you ever lost your wallet? Yes? Then you probably know exactly how Vince McMahon feels right now. The head of the WWE reportedly lost $350 million, nearly one third of his wealth, in less than 24 hours.
According to Forbes, the WWE’s stock price plummeted on Friday after a few less than stellar deals. McMahon managed to secure a contract worth $150 million annually with NBCUniversal but that was close to half of what many expected. The WWE’s new online service also failed to attract a major audience. Many investors lost confidence in the WWE after the online streaming network has only picked up 700,000 subscribers.
That resulted in am $8.86 stock drop (from $20.13 to $11.27) and netted Vince McMahon a $350 million loss.
But don’t worry, Vince, we’ve all been there.
https://twitter.com/roy13a/status/468726105328070656
Vince McMahon lost $350 million in one day, I lost $20 yesterday, that was a bummer. I feel you, Vince. #WWEareUnited
— Carlo Lorenzo García (@CarloLGarcia) May 20, 2014
Vince McMahon lost $350 million in one day! Damn! My son left a $22 bottle of Zyrtec in a hotel room this weekend I was ready to kill him
— Habitual Wine Sipper ???? (@DukeOfDrinkswel) May 20, 2014
Vince McMahon may have lost $350 million this week but he isn’t exactly struggling for money. The former billionaire is still worth about $750 million.
Forbes reports that McMahon has been kicked out of the billionaires club before. He became a billionaire for the first time in 2000 but got booted from the club later that year when the WWE’s stock dropped. It took him about 13 years to become a billionaire again. McMahon’s net worth peaked in March at about $1.6 billion.
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