“All the money I have, I got it legally.” The flawless 50-0 resume we see today, Floyd Mayweather Jr. took 21 tough years of boxing to build that. And he generated substantial earnings along the way, eventually becoming the richest boxer in history by the time he retired in 2017. Sports Illustrated estimates Floyd Mayweather’s current net worth at a staggering $500 million. Late last month, Mayweather was even ranked 10th in Sportico’s ‘50 Highest-Paid Athletes of All-Time’ list, with an inflation-adjusted career earnings of $1.52 billion. Yup, if boxing’s billionaire status belongs to anybody, it’s 48-year-old Money Mayweather. But it seems Canelo Alvarez might just be inching closer to that tag pretty soon.
And if all goes well for the Mexican boxing superstar, he may even end up dethroning Mayweather pretty soon. At least that is what Canelo Alvarez’s business manager and former banker Richard Schaefer thinks. This, he shared with the Ring Magazine in their recent conversation after Canelo’s win over William Scull in Riyadh on Saturday. Speaking to The Ring, the former CEO of Golden Boy Promotions confidently stated, “Canelo is, without any question, the smartest businessman in boxing I have ever met.”
Seeing how his four-fight deal with Saudi Arabia is helping bolster his already burgeoning net worth of $275 million, it’s no surprise that Richard Schaefer believes Canelo Alvarez is closing in on an unprecedented milestone, that too before the end of the next year.
“We are going to get him over that next hurdle… He’s going to be the first fighter to break the billion-dollar net worth. I have zero questions about it. When? Probably next year,” Schaefer asserted boldly. But you see, Schaefer didn’t make his prediction out of thin air.
“I’m very fortunate,” the 63-year-old said. “I started with him when he was 17 years old. I’ve known him since then and now he’s 34. We worked together during the Golden Boy days and always had an amazing relationship and friendship with him.” Recalling the evolution of their early working relationship to heading his business enterprise today, Schaefer added, “He’s my friend. So I’m very happy to do that. I’m thrilled, excited to be working for him and with him, handling all different aspects; fight negotiations, all these other businesses, everything.”
Regardless, it seems Richard Schaefer is pretty confident that Canelo will break the billion-dollar net worth mark soon. But how is it possible for Canelo Alvarez to go from a net worth of $275 million at the end of last year to a billion-dollar mark by the end of next year? Well, his deal with Saudi Arabia’s Riyadh Season may have something to do with that.
Canelo Alvarez’s earnings could very well eclipse Floyd Mayweather’s
If one goes by reports, the No. 7 ranked pound-for-pound boxer recently surpassed Cristiano Ronaldo to become the highest-paid athlete of the year. Forbes estimated that Canelo Alvarez has earned just over $600 million during his nearly 20-year professional career. Adding to the value is the $100 million Canelo Alvarez earned for his 3-fight deal with PBC that ended just last year. Thankfully, early this year, Canelo signed a lucrative four-fight deal with Riyadh Season worth a rumored jaw-dropping $400 million.
According to reports, Canelo Alvarez made a whopping $80 million just from his William Scull fight this past Saturday, the first fight of his four-fight deal. At 34 years old and still an active world champion at super middleweight, the Mexican superstar’s earnings are only expected to rise. Well, let’s not forget that the year has not ended yet. Canelo has an even bigger fight lined up for September 12 against two-division undisputed champion Terence Crawford—a fight for which he is reportedly being paid close to $150 million.
The same could be his payout for his next two fights in 2026, if not more. And let’s not forget about his various businesses and endorsement deals. This all combined should easily put his net worth way past the billion-dollar mark, with no plans of retirement anytime soon. Canelo told TMZ Sports last month, “I’m not thinking about making [a specific] amount of money, and then I retire. No. I’m going to do my thing. And then 37/38 is the moment to go [and retire].” And that gives him at least another three to four more years in the sport to beat Floyd Mayweather to the richest boxer in history tag.
Assuming he continues at this pace, Canelo Alvarez could easily fit in five or six major fights, more than enough to not only surpass Floyd Mayweather’s $1.5 billion mark in earnings but also in terms of net worth. So with that said, do you think Canelo Alvarez can surpass Floyd Mayweather the way Richard Schaefer predicts?
The post Floyd Mayweather’s Richest Boxer Spot at Risk as Canelo Alvarez Closes in on Billionaire Status After $400M Deal appeared first on EssentiallySports.
