According to Forbes, McMahon, the chairman and CEO of WWE, lost $350 million in a span of 24 hours.
The loss was the result of a few factors, including lack of confidence in WWE's new online streaming network and a somewhat lackluster new TV deal. The new online streaming network has only picked up 700,000 subscribers since launching, and WWE said it expects the network to lose between $45 million and $52 million this year.
A lack of confidence in the product and falling shares have dropped his fortune to an estimated $750 million.
The loss was the result of a few factors, including lack of confidence in WWE's new online streaming network and a somewhat lackluster new TV deal. The new online streaming network has only picked up 700,000 subscribers since launching, and WWE said it expects the network to lose between $45 million and $52 million this year.
A lack of confidence in the product and falling shares have dropped his fortune to an estimated $750 million.
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