Floyd Mayweather is the largest ever pounder in the world. His net worth has been estimated to be close to one billion dollars. That is more than a quarter of the Gross Domestic Product of India and more than the gross national product of some third world countries. In fact, it is more than the gross domestic product of the United States and greater than that of China and India put together. Not bad for a young man who was only known as “The Champ” as a teen.
Now for the really interesting part. His current salary per fight is about $600,000. That would make him one of the highest-paid professional boxers in the world. But don’t think that means he spends all his earnings on his fights. Actually, he just earned his latest payday by way of a sponsorship deal with Reebok.
So how does this man who only has a modest net worth, earn the kind of money that big boxers earn? Well, there are a few secrets to his success and they all have to do with his body of work as a boxer. He is not just a great fighter. He is a very good marketer as well. The combination of those two things means that Floyd’s income will continue to rise along with his net worth.
There is a lot of evidence that says that boxers with earnings as great as Floyd’s are able to sustain their careers for many years to come. You see, there are two kinds of pro athletes. Those that enjoy their careers and those that depend on their careers for their incomes. Floyd’s ability to build a stable, lifelong career, while building huge earnings, comes from the fact that he has been able to build a good income from boxing. His boxing earnings have allowed him to take great care of his family, including his daughter, wife, and son. It also allows him to give those that love him a chance to earn money as well.
When you are talking about people like Roger Pensacola, Arnold Schwarzenegger, and Joe Lewis, the one thing they all have in common is the fact that they built significant reputations and earned huge paydays while continuing to build their reputations. There is no doubt in my mind that if they were not professional boxers, they would have had to rely on their skills as performers outside of the ring. They would have had to rely on TV and commercials to make a living.
This is just one of the reasons that I think Floyd’s earnings continue to grow even while he is not active in the ring. His ability to keep his business and personal life separate has allowed him to keep most of his hard-earned money. People that have fought professionally know that keeping your finances separate is extremely important. This prevents you from overspending and increases your potential to profit in your career.
There is also a big part of being an entrepreneur that you can keep separate from your business. When you are retired and still working, it can be difficult for you to spend time trying to improve your net worth figures. You should be able to focus on what you do best and leave the financial details to professionals that can help you. One of the things that you can do to increase your net worth is to invest in stocks and bonds. Even if you are not actively investing in the stock market, you should have some bonds in a diversified portfolio.
Finally, you should always try to diversify your investments. Investing in stocks and bonds will keep you separate from your business partners and other personal monetary assets. When you have multiple businesses that you are managing, it is also important that you find a way to separate those. The reason why you want to do this is so that you do not end up with just one net worth and an inability to keep all of your money under control.