Vince McMahon lost $340 million on Friday due to shares of WWE falling more than 40%. According to Forbes.com, McMahon’s net worth is now estimated at $760 million, meaning he is no longer a billionaire.
The drop comes in response to WWE announcing their new domestic TV licensing agreement with NBCUniversal. While investors were expecting a deal where WWE doubled or even tripled their last TV agreement, one benchmark analyst estimates that WWE got a 50% raise.
Financial analysts now have additional questions about WWE’s core business after initial concerns that McMahon was “too excited” about the WWE Network.
WWE plans to address shareholders in a conference call on Monday morning at 11 AM EDT. Both Vince McMahon and WWE CFO George Barrios will be on the call.
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