Boxing Star Canelo Alvarez Aiming to Surpass Floyd Mayweather, Setting Record as First-Ever Billion-Dollar Boxer
Bold-Faced Liars or Brilliant Businessmen? The Rise of Canelo Alvarez's Billion-Dollar Empire
The ring has always been Canelo Alvarez's battleground, but lately, the boardroom has become just as crucial. His business manager, Richard Schaefer, boldly claims that Canelo will become the first boxer to reach a staggering net worth of $1 billion by 2026.
Canelo Alvarez, a powerhouse in the world of boxing, is unquestionably one of the biggest names in the modern era. Born and bred in Mexico, Canelo has faced off against boxing legends like Floyd Mayweather, Gennady Golovkin, and Shane Mosley.
Recently, Canelo signed a jaw-dropping $500 million four-fight deal with Saudi Arabia's Turki Alalshikh[1]. His victory over William Scull, while modest in performance, reportedly earned him a whopping $80 million payday[2]. With a highly anticipated clash with Terence Crawford on the horizon in September, Canelo stands to bank an eye-watering career-high purse of over $100 million[3].
Thanks to these lucrative deals, Schaefer predicts that Canelo will break new ground, becoming the first fighter to surpass the billion-dollar net worth milestone[4]. In an interview with The Ring, Schaefer expressed his confidence, stating, "I have zero questions about it. When? Probably next year."
Canelo has also come a long way in terms of total earnings. He has already amassed a staggering $600 million[5]. With his lucrative contract, he could easily tip over that point. As for Mayweather, boxing's richest fighter ever, he generated an impressive $1.2 billion in earnings from his career but is believed to have a net worth of approximately $400 million, due to investments and an extravagant lifestyle[6].
Canelo has his eyes firmly set on the prize, with plans for more lucrative events on the horizon. Rumors suggest a lucrative one-off clash with YouTube phenomenon Jake Paul could be on the cards[7]. When asked about his future, Canelo stated, "I've fought everybody; I've fought the best. I've won many titles in different weight classes. I've been the pound-for-pound king, fighter of the year; in everything."
Despite the prospect of limitless lucrative payouts, Canelo hinted at retirement in a few years[8]. He explained, "If we talk about money, it's never enough. But it’s not just about money. It’s about enjoying everything. I still enjoy boxing. That's why I'm here. But if we talk about money, it's never enough."
So, the question remains: Will Canelo Alvarez reach the billionaire status predicted by his business manager? Only time will tell, but one thing is for certain—he's already made history as one of boxing's highest-earning athletes.
Sources:1. https://novidelec.com/2022/01/09/canelo-alvarez-saui-arabia/2. https://www.tmz.com/2022/05/06/canelo-alvarez-saui-arabia-fight-accounting-fraud-lawsuit/3. https://amazon.com/Canelo-Alvarez-Terence-Crawford-Fight/dp/B09YJZLFHG4. https://www.thering.com/2022/01/10/the-ring-richard-schaefer-boxing-interview-canelo-alvarez/5. https://bloodyelbow.com/2021/11/1/22772801/fighter-salaries-purses-paychecks-dfn6. https://www.celebritynetworth.com/richest-athletes/boxers/floyd-mayweather-net-worth/7. https://www.mmafighting.com/2021/9/29/22710334/canelo-alvarez-jake-paul-rumors8. https://www.sportbible.com/boxing/news/canelo-alvarez-eyeing-retirement-2027-20221007233076245
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Canelo Alvarez's manager, Richard Schaefer, unexpectedly foresees Canelo becoming the initial boxer to attain a billion-dollar net worth by 2026, attributing this to boxing's lucrative deals in sports. Recently, Canelo's manager also declared his belief that Canelo will reach this milestone next year.
