WWE Stock Soars Amid Endeavor Deal, McMahon Earns $198 Million in One Day

[Kemo]

Vince McMahon added to his vast fortune yesterday after the stock market responded favorably to the deal with Endeavor.

Earlier this week, it was announced that WWE is set to be purchased by Endeavor Holdings Group for the sum of $9.3 billion.

Endeavor will launch a new company, consisting of WWE and UFC and will be worth an estimated $21 billion.

The reaction from wrestling fans thus far has been almost universally negative, with the Endeavor deal allowing Vince McMahon more influence over WWE.

While fans are far from happy, the stock market reacted positively to the news with WWE's share value rising significantly on Tuesday after the deal was announced.

411 Mania reports that WWE's stock rose to the highest it's been in close to four years, and closed on Tuesday at $97.23 per share.

This price reflects an increase of $7.93 (8.88%) from the previous closing price.

According to Forbes’ updated profile, Vince McMahon earned $198 million today on the stock rising and is now worth $3.1 billion.

This is slightly lower than McMahon's all-time net worth, which reached $3.2 billion in 2019.

WWE stock reached its peak on April 24, 2019, when the market closed at $98.50 per share.

At the time, the renewal of WWE's deals with FOX and the USA Network was attributed as a factor behind the record-high share price.

WWE's lucrative, albeit controversial with the Kingdom of Saudi Arabia has also been a huge factor in WWE's share price rising dramatically in recent years.

[LionDen]

No surprise there. Now, whether it stays up another matter entirely lol