McMahon's double, Umaga lost to Bobby Lashley, standing in the ring for Donald Trump in the Battle of the Billionaires during the Sunday event, the Detroit Free Press reported Monday.
McMahon was held in the barber's chair by guest referee Stone Cold Steve Austin at Trump and Lashley shaved him bald.
McMahon lost his locks as the result of a friendly wrestling wager between the two sexagenarians, with the loser agreeing to have his head shaved by the winner.
"This is like heaven for me," said Mark Klein, 33, of Toledo, who brought a sign to the event predicting, "Trump 3:16 says Vince is Bald," referring to the Battle of the Billionaires.
Notable deaths of 2014 [PHOTOS]