-

Vince McMahon no longer a billionaire

Vince McMahon is no longer a billionaire. It’s not that he’s broke or anything, but yesterday’s big sell-off of WWE stocks left a $350 million dent in McMahon’s pockets, putting his net worth now at an estimated $750 million according to Forbes.

A total of 41 million WWE shares traded hands yesterday, significantly more than the average of 1.7 million shares traded each day.

Jayme Wiggins from Interpid Capital Management, a company which once was WWE’s largest outside investor and sold its 10% stake this past January, said the writing was on the wall.

“The question is why their numbers are so low given this renewal,” Wiggins said. “With the information that they put out there, it seems to imply that their core business isn’t making money.”

Either way you slice it, it was a very rough week for everyone involved in WWE. The same thing happened when WWE stocks were on the rise a decade ago and then by the following day of the first XFL game, McMahon and WWE took a big hit, knocking McMahon off the Forbes Billionaire list at the time.

Colin Vassallohttps://www.wrestling-online.com
Colin Vassallo has been editor of Wrestling-Online since 1996. He is born and raised in Malta, follows professional wrestling and MMA, loves to travel, and is a big Apple fan!

Stories you might also likeRELATED
Recommended to you

LATEST NEWS

WWE returning to the United Kingdom in November for eight shows

WWE will be returning to the United Kingdom in November for an eight-day tour but there's no info if...

Tommy Dreamer apologizes for Dark Side of the Ring comments

Tommy Dreamer commented publicly for the first time since the explosive episode of the Plane Ride From Hell on...

Smackdown rating for 09/17/2021

This week's Friday Night Smackdown on FOX did 2,118,000 viewers in the overnight ratings, down 98,000 viewers down from...
sports betting site betway