Vince McMahon Once Let Go Off His Billionaire Status for the Betterment of WWE Which Cost Him Around $350M in a Single Day

WWE is the professional wrestling empire that the McMahon family built in the 1950s. In the 1980s, Vince McMahon held the steering wheel of the promotion in his hands and started his journey. He took several calculated risks for the company that most people didn’t like at the time, but they helped in propelling WWE a big name today.

 Vince McMahon recently sold the company to Endeavor and earned a huge profit. However, there was a time when he lost his billionaire tag just for the betterment of the WWE.

Vince McMahon once lost $350 million in a day

In 2014, WWE CEO Vince McMahon lost a whopping $350 million dollars because of a major drop in WWE shares. Not only this, he dropped his billionaire tag in just one day. However, McMahon went along with the risk for the betterment of the company. 

In 2014, according to Forbes, Vince McMahon had to deal with a heavy loss for signing a new TV deal with NBC Universal. The reports said that McMahon signed the deal with NBC Universal for a less amount than the investors expected. McMahon sealed the deal in a sum expected to be half or a third of the expected amount.

That resulted in a major drop in the wrestling company’s stock in the market. And on top of that, WWE also launched its online streaming platform ‘WWE Network’ the same year, which also added to the loss. The platform only had 700,000 subscribers initially that were also quite less than expected. 

And the combined effect of these two factors made Vince McMahon lose his billionaire tag in 2014. Not only this, but 2014 was also a critical year for WWE for several reasons.

Why 2014 was a critical year for the WWE?

2014 was the year when WWE CEO Vince McMahon experimented a lot with the company. The 16-time world champion John Cena was no longer the face of the WWE, The Rock was nowhere to be seen, Daniel Bryan was injured, and on top of that CM Punk initiated a controversial departure from the company.

In between all these, Vince McMahon brought about a creative turn to an engaging storyline with the beloved stable, The Shield being broken up to give the WWE Universe its new face and storyline 

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And surprisingly, fans loved it. Seth Rollins turned out to be a great heel and the bromance between Roman Reigns and Dean Ambrose was a massive success. And eventually, Vince McMahon covered the loss and gained his billionaire tag once again. 

Now, McMahon is no longer the owner of the company. He sold the company to Endeavor after WrestleMania 39. McMahon stated that he did it for the sake of WWE. 

Currently, McMahon’s net worth is approximately $3.4 billion. He earned a huge profit by selling the company after being the CEO for 40 years. No matter how controversial McMahon’s career has been, no one can deny the fact that WWE wouldn’t be as big as it is today without him. What do you make of the infamous turn of events as McMahon lost his billionaire status and incurred a monumental loss? Let us know in the comments section below.

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