Linda McMahon, a co-founder of Titan Sports, Inc., and one of the key figures in the history of the successful global WWE. She has opened up regarding one of the most challenging periods of her and Vince McMahon’s lives, the bankruptcy in the early 1980s.
Although it is believed that the wrestling business caused their financial strain, Linda divulged that their struggles were due to a failed venture undertaken by an outsourced company. Her story offers a rare glimpse into the personal hardships she faced. While she and Vince McMahon were working to transform WWE from a regional promotion into a national powerhouse.
Another Risky Investment Gone Bad
In one of her recent interviews with Sage Steele, Linda McMahon was questioned whether she ever questioned whether WWE would become successful with its grand plans. She said that they did not go bankrupt because of wrestling at all, because an accountant had recommended that they have a variety of investments.
They did not just focus on wrestling but instead used their money in a construction company that they had no idea about. The company collapsed, leaving them shattered. Linda McMahon remembered how this error had caused them to go bankrupt. As their house was auctioned, their car was repossessed in the driveway. And this was even more complicated by the fact that she was pregnant with Stephanie McMahon at the time.
Another Turning Point in the McMahons’ journey
The McMahons held on and followed through on their vision for WWE, the then-WWF. They had lost everything. Their toughness at the time ultimately led to the transformation of WWE into a global giant, with Vince and Linda McMahon being the key agents to its success.
Linda McMahon later became a highly successful person in the field of public service despite her wrestling career. Her legacy of leadership and strength continues. She gained wide recognition as the Administrator of the Small Business Administration from 2017 to 2019.
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