The globe theater was one of the great theatres that was built in London in 1599 by a group of actors known as "Lord Chamberlain's Men" who were affiliated to William Shakespeare, with a Latin motto that went "Totus mundus agit histrionem" also translated "All the World's a Stage". This was later destroyed by fire in June 1613 two years before Shakespeare's death (The History of the Globe, para.2).
A year later that is in the year 1614 the Second Globe Thearter was built on the same spot.; but was unfortunately closed down in the year 1642 (McCudden, pg 144). The theatre has undergone a lot of challenges as a result of it being destroyed and rebilt. This has all gone to past because of the completion of a modern reconstruction of the Globe "Shakespeare's Globe" that was opened in 1997 located about 230 meters from the original theatre site.
The original Globe Theatre was owned by six actors who also were shareholders; two of the six shareholders were held a large fraction of the globe with them having 25% while the rest had 12.5% each. In 1599 the Globe was built of wood by one of the actors in the group Richard Burbage's father, James Burbage; who had a 21 year lease of the land the building was built on (Gurr, pg 22). And the landlord was saying that once the lease of The Burbages is oveer the theater will be his. This resulted to the dismantling of the building and kept in a warehouse near Bridewell and later on its was built in Thames; where it stayed till it went up in flames during the performance of Henry the Eighth.
It was erected a year later and just like any other theatres in London it was closed down in 1642 and every person who is caught playing fined 5 shillings and that brought the fall of the original Globe Theater. It took a longtime before the thearter was reconstructed but it was eventually reconstructed in the 20th century close to the site of the original Globe thearter (McCudden, p.144).