Vince McMahon Knocked Off Billionaire's List After WWE Shares Tumble

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Vince McMahon Knocked Off Billionaire's List After WWE Shares Tumble

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Vince McMahon Knocked Off Billionaire's List After WWE Shares Tumble

by Wochit 0:55 mins

Vince McMahon Knocked Off Billionaire's List After WWE Shares Tumble

by Wochit 0:55 mins

Wrestling promoter Vince McMahon lost an estimated $350 million when WWE shares tumbled on Friday, according to Forbes, knocking the chief executive out of the exclusive billionaire’s club. To put that sum in context, Fast & Furious 6 starring former WWE wrestler Dwayne "The Rock" Johnson had a domestic gross of $238.7 million, according to BoxOffice.com. Shares of World Wrestling Entertainment took a gut-punch last week, down 48 percent in premarket trading before the opening bell on Friday. The stocks dropped after the company announced on Thursday that it had reached a renewed U.S. licensing deal with Comcast Corp.’s NBCUniversal Cable Entertainment. NBCUniversal is the parent company of NBC News.

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