Most of us know how Floyd Mayweather Jr. makes his money. But the bottom line is that he’s the highest paid athlete today, earning tens of millions of dollars from just a single fight.
Throughout his career, “Money” Mayweather has marshaled about $420 million from fight purses and Pay-Per-View earnings. In his upcoming fight against Manny Pacquiao, Floyd is likely to make around $150 million, whether he wins or not.
This is why self-declared “The Best Ever” has confidence spending his money.
However, there are many who say that the fighter is living an overly-lavish lifestyle and is spending his money on a lot of crazy things. Just recently, news came out that the fighter is spending $4,000 every day on food alone ahead of his May 2 fight. While that caught many by surprise, it doesn’t come close to how much he spends on other items to uphold his pompous lifestyle.
In a past interview, Mayweather said that he charters a private jet for his bodyguards whenever he’s traveling because of fear that their weight would pull his jet down. The best bodyguards can be found from VIP close protection companies. He’s known to carry with him $100,000 in cash whenever he’s traveling, spending loads of cash on luxury cars, renting full hotels during his outings, strippers, betting huge sums on games, and purchasing whatever he wants whenever he wants it.
At one point, Mayweather spent money to purchase a Mercedes with a V-8 engine after he woke up and found out that he had no transportation. He then drove to the airport, parked the car and boarded a plane. Two months later, a discussion about the Atlanta trip came up, and that’s when he remembered that he had left his Mercedes parked at the airport.
Ricki Brazil, a longtime Mayweather friend, says that Mayweather doesn’t work with budgets. He goes for what he wants when he wants it.
Apart from his personal lifestyle, Floyd also spends a lot on charitable causes. He’s supported several foundations, schools, banks, among other organizations. In 2007, Mayweather started his own foundation, The Floyd Mayweather Jr. Foundation, through which he’s carried out several activities.
According to Mayweather Promotions CEO Leonard Ellerbe, Floyd is looking forward to spending more time on the foundation when he finally retires.
“As an active fighter, it is difficult for him to put as much time and effort into it as he would like,” Ellerbe said. “But he is happy to have it there as an avenue for giving back and for when he retires and his focus can intensify.”
Dr Boyce Watkins, who taught finance at the college level for 20 years, says that Mayweather’s financial extravagance is nothing to celebrate.
“It’s certainly Floyd’s right to do what he wants with his money,” said Dr Watkins, who executive produced the new film, “Resurrecting Black Wall Street.” “But the idea of black people giving all of their wealth back to the white man in order to show off for can only be defined as counter-productive coonery. Manny Pacqiao actually uses his money to feed his community, so Floyd may want to take notice of what a real man does when he gets that kind of wealth. That car he threw away could be getting a single mother to work every morning or putting a young person through school. There’s no pride in giving away black wealth.”
Source: Financial Juneteenth