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WWE Chairman Vince McMahon Is A Billionaire Again

Here comes the money!

WWE Chairman and CEO Vince McMahon is a Billionaire once again according to an update from Forbes. McMahon's Net Worth is said to be at $1.16 Billion right now. In March 2014, McMahon was on the Billionaires List that Forbes puts out every year, but he wasn't on it this year. It's been a very good week for WWE's stock after they posted positive numbers in their conference call last week. The stock price is $21.88 on Friday. It was at $15.57 one month ago and $13.68 one year ago. Earlier this week, a Dutch investor purchased a 6% share of the company (the shares that are available outside of what the McMahon family has) and that was part of the reason for the increase as well.
Even with TV ratings down, WWE business is strong because they're well past the 1 million mark for WWE Network that was considered a break-even point. Since they are likely going to stay about that number, that means the business is healthy and if it grows from there, the sports entertainment giant will continue to grow. A lot of WWE fans are frustrated with the company for the way they book some of their storylines, but all investors really care about is how much money they are making it. Since the stock price has gone up and McMahon is back to being a Billionaire, WWE likely won't be making any drastic storyline changes soon because they're doing so well right now.
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John wrote at WhatCulture from December 2013 to December 2015. It was fun, but it's over for now. Follow him on Twitter @johnreport. You can also send an email to mrjohncanton@gmail.com with any questions or comments as well.