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   April 01, 2015

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WWE's Vince McMahon has reportedly lost $750M in two months
By QMI Agency

WWE owner and CEO Vince McMahon has reportedly lost three quarters of a billion dollars in the past two months. (AFP)

WWE owner and CEO Vince McMahon's financial woes may be far worse than previously reported.

Two weeks after reporting the pro wrestling promoter suffered a single-day loss of $350 million, Forbes is now saying McMahon has lost a total of more than $750 million in the past two months.

A new multi-year TV deal between WWE and NBCUniversal, announced earlier this month, failed to impress investors and shares in the company's stock plunged.

Investors expected McMahon to sign a deal that would have at least doubled or even tripled the company's rights fees, but instead negotiated a 50% increase.

McMahon reportedly lost $350 million in one day, which knocked him out of the billionaire’s club as he is now estimated to be worth about $750 million.

In addition to the disappointing broadcast deal, the company launched the live-streaming WWE Network on Feb. 24 and currently has 667,000 subscribers, far short of the estimated 1.3 million to 1.5 million viewers needed to offset losses to their pay-per-view model.

McMahon first became a billionaire in 2000 before WWE stock dropped a year later. The company's stock didn't fully recover until January of this year, vaulting McMahon to billionaire status for a second time before the latest stock collapse.