Vince McMahon: The New Wolf of Wall Street?
The year Vince McMahon turned 26, he made $49 million from wrestling territories up and down the east coast. That number really pissed him off because it was three shy of a million a week. With all that money, the young McMahon’s Ferrari wasn’t the typical red back then. It was white like Don Johnson’s in Miami Vice.
Today, McMahon’s empire still continues. He has two television shows on Monday and Friday nights and even his own network. I’d say life’s been good to him for a while now. Of course, with such a large empire at his helm, some trouble is bound to pop up.
According to the website shareholdersfoundation.com, the WWE is being investigated by an unnamed law firm. The firm is accusing the company of several securities violations. They claim that the WWE mislead shareholders and the potential of the WWE’s stock. The official complaint from shareholdersfoundation.com states:
“The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of World Wrestling Entertainment, Inc. (NYSE:WWE) concerning whether a series of statements by World Wrestling Entertainment regarding its business, its prospects and its operations were materially false and misleading at the time they were made. World Wrestling Entertainment, Inc. reported that its annual Total Revenue rose from $484.01 million in 2012 to $507.97 million in 2013 while its respective Net Income fell from $31.43 million to $2.76 million.”
This complaint could very well be one put together by investigators angry over the company not soaring after the launch of the WWE Network. While the Network has been a great addition to any professional wrestling fan’s life, it hasn’t lit up their stock the way they predicted.
Even though the WWE is built on a foundation of gimmicks, its doubtful that the powers that be are willing to stoop to the level of Jordan Belfort. Although, a part of me is hoping they have just so Scorsese could make a movie out of it and have Matthew McConaughey play Vince McMahon.
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