Vince and Linda McMahon, founders of World Wrestling Entertainment, may be worth an estimated $1.24 billion today, but early in their careers, they lost everything and had to come back from bankruptcy.
In the 70s, on the advice of an accountant, the couple invested in a construction company — an industry they knew nothing about.
"We signed personally on some loans from the bank to float that business for a while, and we didn't understand [the industry]," says Linda McMahon, head of the Small Business Administration, during a Facebook Live for Small Business Week on Tuesday. "It went belly up. … We tried for over a year to pay off the loans and we just couldn't do it anymore, so we had to declare bankruptcy."