Floyd Mayweather can most certainly deal a punch, but you’ll be blown away when you hear Floyd’s net worth – 285$ million. And this is his Forbes net worth for the year 2019, we still have to wait a bit and see how much he earned in 2020. Keep in mind that Forbes probably only takes the current year into account. Other websites report much larger Mayweather net worth. Celebrity Net Worth is one of the most “modest” ones, and this website mentions that Floyd “weighs” about 560 $ million.
According to Investopedia, this boxer earned more than 700$ million during his career. Other sources mention even larger sums, putting Floyd Mayweather among the likes of Tiger Woods and Michael Jordan. If correct, this would mean that Floyd is only the third athlete to join the prestigious “1$ billion club”. The boxer will to work a bit more in order to catch up with Woods and Jordan, as these two athletes probably earned more than 1.5 $ million during their careers (not taking Woods’ numerous escapades, legal cases, etc. We all know just how much money this man lost due to his irresponsible behavior).
This man is still unbeaten in all the categories he competed- super featherweight, lightweight, welterweight, and light-welterweight. He will possibly remain undefeated, considering that he retired while still holding his impeccable record. While still an amateur, Floyd competed at the Olympics in 1996, when he won a bronze.
If Floyd continues to earn nine-figure salaries (!) in a single match, he’ll most likely take over the two richest sportsmen ever. There’s perhaps only one small problem. As Mayweather’s endorsements increase each year, it becomes harder and harder for people to hire him. The boxer doesn’t advertise that many products (at least not when compared with other athletes), but this is still a significant source of income for him.
According to Forbes, the boxer didn’t earn that much money in 2017, but 2018 was a particularly good year thanks to a fight with Conor McGregor. This is one of the highest-paid sports events ever, especially considering that only 2 people are involved. Although this fight actually took place in August 2017, the royalties and other payments were only paid in full after the year ended. But this is just a part of the picture.
We all remember Floyd Mayweather’s legendary fight against Manny Pacquiao. This was another record-breaking event, that brought 250$ million to Floyd. There are numerous other fights for which Floyd received astronomical amounts of money. More specifically, there are at least 4 fights that brought about 40$ million each to the famous American boxer.
There’s a reason various sources give different estimations of Mayweather’s net worth. Floyd is a big money-spender. After all, a man who works so hard for his salary would want to relax a bit when he takes a bit of time off? Jokes aside, Mayweather didn’t stay immune to the lavish and luxurious lifestyle that practically ruined so many famous people.
His incredible 100-car collection most certainly decreased his net worth. The Bugatti Veyron and Koenigsegg Trevita cost more than 6$ million, and this most certainly decreased Mayweather’s net worth. Finally, the 22 thousand square foot mansion in Las Vegas probably costs more than we can even imagine. All these factors have to be taken into account.
What Is Net Worth?
Talking about net worth without explicitly stating what we mean by this would be silly. In business terms, net worth is the difference between assets and liabilities. An asset has a monetary value, and it can be turned into cash anytime. The best type of asset can be turned into cash immediately or easily, and these are liquid assets. Non-liquid assets like cars or houses take some time to be converted into cash, and their value varies with time.
On the other hand, liabilities are loans and other obligations concerning transactions of money.
If we want to really get to know how much Floyd Mayweather is worth, we’ll have to find out all his assets and liabilities. Needless to say, this is an impossible task (and it is probably illegal, considering that we’d have to acquire a lot of sensitive, private information). Now we see why it’s so hard to find out someone’s net worth.
How Floyd Mayweather Started Earning So Much?
It’s safe to say that we rarely see sportsmen earning so much money. How did this happen? First of all, the Mayweather family is a family of boxers. Floyd Mayweather Senior was a relatively successful boxer, and so did Junior’s uncles, Jeff and Roger. One of his uncles was at the same time his trainer- Roger Mayweather- who won two world championships.
Mayweather Junior knew what would be his profession since he was a little boy. One of the greatest boxers of all time identified his grandmother as an important source of inspiration. In his words, she encouraged him to keep boxing even when Floyd Junior wanted to find a “real” job and start earning money.
Not all went well. Even though Floyd received important advice from his family members, his family lived in an extremely poor New Jersey neighborhood. When compared with his current economic situation, his childhood environment seems even poorer. While he was growing up, Floyd had to share a bedroom with seven other people. To make things even worse, this little New Jersey bedroom didn’t even have electricity.
Floyd also had to stay afloat in a neighborhood riddled with crime, addiction, and economic struggles. Mayweather later stated that we regularly found used heroin needles in his yard. His aunt died from AIDS.
Moreover, Junior’s father frequently beat his son. Floyd Senior even sold drugs, what he later referred to as a necessary means to make the ends meet. However, his father also encouraged him to keep boxing, and regularly took him to the gym.
Junior isn’t that keen on giving praise to his father. In his words, he had to do everything on his own, especially when his father got imprisoned.