SmackDown and Keep Your Mouth Shut The Pain Has Arrived. Due to a legal struggle with the World Wide Fund for Nature over the 'WWF' initials, the World Wrestling Federation (WWF) was renamed World Wrestling Entertainment (WWE) in May 2002. The company's original name was derived from the fact that it was the world's greatest wrestling promotion. They hired Vince McMahon because he was the most famous person in the world at the time. He created a fake college degree and used that as proof of his expertise as a wrestler. The WWF paid for his education while he learned the trade from the best. After joining the WWF, Vince never stopped learning new skills or trading ideas with other wrestlers. In the years that followed, he became one of the biggest names in pro wrestling and helped make his company into the largest in the world. McMahon took some creative ideas from the WWF's rival, WCW, and incorporated them into his product. This included using high-profile celebrities as characters and having events broadcast live on television. The first such event was held in March 1985. It featured Steve Austin, the ring announcer, as the special guest ref. During this time, Vince also got involved in politics. In 1993, he ran for President of the United States on the Republican ticket but lost to Bill Clinton. In April 1999, Vince McMahon created another popular television show called Saturday Night Live.