Vince McMahon Loses $350M in One Day

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Vince McMahon and Stone Cold
Pro-wrestling juggernaut, WWE‘s stock plummeted more than 40% last week; with shares going from around $20 on May 15 to under $11 on May 16. The hit is said to have cost burly CEO, Vince McMahon (PeekYou profile here), over $350 Million; about a third of his fortune.

The massive hit to WWE‘s stock is the result of a recent sluggish launch for the company’s online streaming service, and a less-than-enthusiastic reception to their new TV deal with NBC Universal.

On Monday, during a conference call with analysts to discuss the deal, McMahon said “We were a little disappointed with our NBCU deal. Whether we failed or not, I’m not certain.”

Variety gets into things a bit more in depth here.

Keep up with the best of what the Web holds of this American original, and strange visionary (if not, apparently, expert businessman), via the many links to be found upon his PeekYou profile.

Below, some highlights from the era where he really started to get his hands dirty.