As we all know by now, Vince McMahon’s net worth took a steep dive in recent week because the WWE stock went from a of around $35 per share all the way down to $10.77 as of this writing. This drop accounts for him losing at least $357 million in one day, reducing him from a billionaire to a multi-millionaire, making him about as financially bloodied as when he took on the Undertaker in the buried alive match in 2003. Regardless of personal loss, it’s claimed Vince is about as dual-minded as his business and ring-side personalities.
In a related report by The Inquisitr, Mick Foley is suggesting that Vince McMahon, Triple H, and Stephanie McMahon not show their faces on stage because he believes investors may be confusing their antics as The Authority with their capabilities as business people.
The interesting part about these rumors is that they claim that the sudden drop in Vince McMahon’s net worth in 2014 actually does not bother the WWE CEO too much. You see, McMahon owns about 57 percent of all the WWE stock shares out there, which amounts to roughly 39.9 million shares. So as of today that means his WWE stock is worth roughly around $430 million as of this morning’s value on the stock exchanges. Overall, this means Vince McMahon’s net worth is now down to around $700 million, so he has about $270 million that’s not tied into the fate of the WWE Network.
But while Vince McMahon may not be bothered about his personal financial loss it’s claimed that he is pretty upset about the loss of prestige for the WWE. The news about his net worth dropping so hard has been bandied about all over the media since last week, something which even The Inquisitr noticed would happen due to after-hours trading last Thursday night.
Wrestling Observer Radio host Dave Meltzer claims this fact is driving McMahon “absolutely crazy.” Unfortunately, because the WWE is now publicly traded it’s now unavoidable that Vince has to air their dirty laundry for all to see. Meltzer says Vince “doesn’t like the scrutiny but they are pretty adamant they won’t go private again.” Of course, that would mean buying back a ton of shares in order to go private again, which, even at the reduced price, might not be possible with Vince McMahon’s net worth as it currently stands.
The good news is that Vince McMahon’s WWE ownership is so high he cannot be forced out of the company as some have claimed might be possible. Vince retains 81 percent of voting shares stemming from his personal ownership of 57 percent of class A shares, and 87 percent of preferred voting class B. So the WWE is definitely Vince’s baby.
The bad news is that he may not be able to steer clear of all trouble. Former Attorney General of Louisiana, Charles C. Foti is a partner at the law firm of Kahn Swick & Foti and he’s announced they will investigate whether the WWE management violated state or federal securities laws. The reason this is the case is because the WWE officially said they were hoping the NBC deal would reach $200 million while in reality it was half of the quoted figure.
Do you think Vince McMahon should give up on the business side of the WWE Network and hand someone else the reigns?