Floyd Mayweather Jr, 43, is today acclaimed as one of the greatest fighters in world boxing history. Floyd, who is widely regarded as a living legend, is the son of a former professional boxer, Floyd Mayweather Sr. He was born in 1977 in the Grand Rapids region of Michigan.
Despite receiving limited education, Mayweather took up professional boxing and steadily rose through the ranks, in a career spanning over two decades, to become one of the most celebrated sportsmen in history.
Floyd’s remarkable 50-0 unbeaten record in the professional boxing arena indeed thrusts him in the ranks of the most celebrated boxers. This is an exclusive hall of fame that includes select boxing legends in the mold of Muhammad Ali, George Foreman, and Joe Frazier.
Gradually, Floyd rose to become one of the best-paid athletes of all time. His accumulated income from boxing is currently estimated at $1.1 billion. By 2020, Floyd’s estimated net worth was around $505 million.
Dissecting Mayweather $505 Million Net Worth
Interestingly, Mayweather is ranked as the fifth best-paid sportsman of all time. Indeed, Mayweather ranks among the top six sportsmen whose accumulated career earnings exceed $1 billion.
One outstanding fact about Mayweather’s remarkable rise to fame and riches is that he achieved success unusually. While many boxers mostly rely on promoters to achieve success in their career, Mayweather took a calculated risk.
This impressive stunt began in 2006 when Mayweather felt dissatisfied with a previous deal struck with veteran boxing promoter, Bob Arrum, to manage his career.
Mayweather decided to end this contract. But there was a catch; the exit-clause compelled him to pay the promoter some $750,000. Mayweather took the risky gamble and paid the promoter to end the deal. Fortunately, this early gamble paid off handsomely.
From then on, the boxer determined to chart an independent path to success. Mayweather became his own promoter and manager. Ultimately, this means that Floyd, unlike most successful boxers, steadily scaled his way up the rungs without crucial endorsement earnings. Generally, many successful and top-paid athletes of our time usually get their earnings from such endorsement deals.
To show-case the fruits of Mayweather’s brilliant move, in just two games fought between 2015 and 2017, the boxer received a whopping half a billion dollars. In the 2015 fight against Manny Pacquiao, for instance, Mayweather received a staggering $250 million. Two years later, in the 2017 match against Conor McGregor, the champion pocketed a staggering $300 million.
Benefitting from the Ali Act
Since the enactment of the Muhammad Ali Act, many professional boxers have seized greater control over the amount of cash they can make. In contrast, for UFC contracted fighters, the situation is significantly different: They cannot benefit from sponsorship or other endorsement deals without the direct approval of UFC. Hence, the boxers on such a stable are typically regarded as independent contractors working for an organization. If they don’t play by the rules, they risk dismissal.
This is precisely what justified Mayweather’s move. By setting himself free from the shackles of promoters, he was now able to fight wherever and whomever he wanted. He could demand the money he earned and negotiate with promoters on his terms.
Not surprisingly, in time, Mayweather earned up to $300 for a single fight, rising to the top ranks of boxing earnings. In fact, in seven years, Mayweather made more money than all the UFC fighters combined.
The champion boxer received his biggest paycheck from the most competitive and hyped fights. Among these were his matches against fancied opponents like Oscar De La Hoya, Manny Pacquiao, and Canelo Alvarez. Mayweather made multiple millions of dollars from these fights.
In the best years of his career, Mayweather topped the list of the highest remunerated athletes, leaving his peers miles away. He typically made between $150 to $300 million per year. In 2014/2015, the boxer earned $300 million. Despite managing his own performance, Floyd still receives a consistent $10 million every year from several performance endorsements.
Breakdown of Mayweather’s Cumulative Income
Between 1996 and 2005, while still building his career, Floyd Mayweather earned approximately $2 million fighting 15 different matches. This effectively served as the launching pad of the future champion’s professional career.
In 2006, in the fight against Arturo Gatti, Floyd was paid $3.2 million. In the next match against Carlos Baldomir in 2006, the boxer received $8 million. The next bout was even more lucrative. Taking place in 2007, Floyd was pitted against the fancied Oscar De La Hoya. Upon winning the match, the boxer was paid a whopping $25 million.
Floyd fought against Ricky Hatton in 2008 and received another $20 million. In the same year, the champion received a fat paycheck of $25 million in the fight against Wrestle Mania. Next, in 2009, Mayweather fought Juan Marquez and earned $25 million as the reward. A year later, in 2010, the champion was paid a staggering $30 million in the fight against Shane Mosley. In 2011, Floyd received a bigger paycheck in a single fight, earning $40 million.
In 2012 Mayweather earned another $40 million after fighting Miguel Cotto. He received $50 million to fight Robert Guerrero and $75 million against Saul Alvarez in the following year. Up to this point, this set a record as the highest payout ever in the history of boxing. Coming up against Marcos Maidana in 2014, Floyd received $40 million. The same year, the fighter was paid $32 million in a match-up with Marcos Maidana II.
But the sweetest deal for Mayweather came in 2015 in the match-hyped fight against Manny Pacquiao. In this match, Floyd received a whopping $250 million paycheck. He later earned another $35 million in the fight against Andre Berto in 2015.
Mayweather vs. McGregor
Then came 2017. The champion was matched against Conor McGregor. This fight was billed as the most lucrative Pay Per View match in the game’s history. Indeed, the PPV profit reached $5 million. Eventually, this event generated about $700 million overall revenue. Mayweather raked up a $300 million pre-tax paycheck. Mayweather’s rate per fight still stands at $300 million.
The Mayweather vs. McGregor fight was also unique in the sense that the purse size was actually $400 million. Although Mayweather officially earned $275 million, it’s possible he received more.
Settling a $22 Million Tax Arrears
Since he lived in Nevada, Mayweather was not compelled to remit income tax accruing from his earnings. The boxer, however, surrendered 40% of the money earned to the IRS. He also paid $22 million in tax arrears dating back to 2015. Overall, after obligations, the boxer carried home about $160 million. The following year, in 2018, Floyd easily collected $9 million, fighting against Tenshin Nasukawa. The match ended prematurely in the second round.
Thus, Floyd Mayweather’s overall earnings from these boxing matches add up to $987.2 million. In total, Mayweather received a further $25 million of the ring as accruing from endorsement deals and sale of merchandise.
This brings Mayweather’s overall earnings to $1.1 billion.
Extra Income Streams
So, does Mayweather’s bank account have $1 billion as such? No. Although the boxer has earned 1.1 billion in the course of his career, he also has expenses to care for and taxes to pay. Moreover, he also invests money in various businesses.
In 2007 Floyd Mayweather featured in the Dancing with the Stars TV show, earning some income. The next year, in 2008, Mayweather was paid $20 million to grace the WrestleMania XXIV event. He owns several businesses. These include the Mayweather Boxing Promotions, a franchise of gyms, the Girl Collection club in Las Vegas, and a Boxing Club in the same city.
Floyd Mayweather’s Lifestyle
Mayweather is a great lover of luxury and adventure travel. These travels have taken him to cities like Cairo, Rio de Janeiro, and other exotic places which he visits with an entourage of at least 20 people flown in his private luxury jets. Further, as we can guess, he always wears the most expensive designer clothes.
Floyd Mayweather lives a lavish and extravagant life, using tens of millions of dollars in a year to sustain this. He wears a pair of shoes just once before discarding these to his fans, hotel staff, or housekeepers.
Wherever he travels, the boxer is always accompanied by an entourage of 20 people, including friends, bodyguards, family members, and a barber, despite the fact that his head is always clean-shaven. Further, he is ever accompanied by a beautiful female massage therapist by his side. Interestingly, burglars once broke into Mayweather’s residence and stole jewelry worth about $7 million.
Mayweather is a compulsive gambler who spends lots of money to feed this habit, and probably wins lots of cash as well. He was once reported to have spent more than $1 million gambling on a college game. It’s important to note that the boxer does not just gamble on sports; he’s an avid general gambler, ready to spend a fortune at the slightest bidding.
Mayweather’s Exclusive Assets
For the last 20 years, Floyd Mayweather has bought over 100 high-end motorcars, most of which he paid for in cash. Among the rare cars include a Pagani Huarya that cost $ 1.4 million, a LaFerrari Aperta ($1 million), a Bugatti Grand Sport Vitesse ($2 million), several Bugatti Veyrons ($2 million), a Bugatti Chiron ($3.5 million) and the magnificent Koenigsegg CCXR Trevita which costs a whopping $5 million.
He also owns many other fleets of luxurious vehicles, including 16 Rolls Royces, many Ferraris, Mercedes Benzes, Lamborghinis, and Bentleys.
As can be expected, Mayweather owns a rare collection of jewelry, including 40 expensive watches. He claims that he always wears at least $3million worth of jewelry wherever he is. The boxer bought a wristwatch for $18 million in 2015. This was specially manufactured by the renowned Jacob the Jeweler. The watch is a 239 emerald-cut 3-carat- a-piece jewel. Among other rare watches, the boxer owns an Aximum, an Audemars Piguet, and a Rolex.
In 2018, Floyd Mayweather bought himself a rare birthday present to celebrate 41 years of life – a $60 million luxury jet. Apart from this, Mayweather owns another plane that cost him $30 million.
Floyd Mayweather bought a $10 million house in Las Vegas, Nevada. This has served as his preferred place of residence since 2018. The house is a custom-designed mansion that covers about 22,000 square feet. Apart from this residence, Mayweather owns another mansion in the same area. The latter mansion, which cost him $9.5 million, covers about 13,000 square feet and previously served as his residence between 2010 and 2018.
In 2017, Mayweather bought a luxurious mansion in Beverly Hills, costing him $25.5 million. The boxer spent an impressive $500,000 to furnish the mansion. The luxurious property features a 300-bottle wine room, a 12-seat movie theatre, and a candy shop to boot. Moreover, Mayweather owns another apartment located in New York.
Mayweather has had some problems keeping up with the taxes. Of course, since he earns big, the taxes are also enormous. Notably, the IRS has slapped him with a hefty $22 million tax bill, which he later settled after the huge $275 million paycheck he earned from the famous McGregor fight.
Mayweather the Champion
With a remarkable 50-0 record, there is no doubt that Floyd Mayweather will always rank as one of the greatest fighters in the history of boxing. In two decades of professional boxing, the fighter has had an incredible run, remaining unbeaten after 50 matches that pitted him against some of the best and fiercest boxers in the world.
Moreover, Mayweather has impressively won his fights in various boxing categories, including Junior Welterweight, Lightweight, Super Featherweight, Welterweight, and Super Welterweight. He won 27 out of 50 matches with a straight knockout.
With such extraordinary success for Mayweather, the money came flowing in. In time, Mayweather raked in an incredible $ 1.1 billion fortune and a net worth of $505 million. This placed him in the rank of the best-paid athletes of all time.