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Floyd Mayweather Jr. has an estimated net worth of $340 million, according to Forbes. He topped the Forbes list of highest paid athletes in 2012, 2013, and again in 2014. In 2016, Mayweather was ranked No. 34 in Forbes’ list of America’s richest entrepreneurs under the age of 40.
On Tuesday, July 11, Mayweather Jr. and Conor McGregor will head out on a four-day promotional tour ahead of their highly anticipated “Money Fight” taking place on August 26 in Las Vegas.
Here is what you need to know:
1. Mayweather Owes the IRS Money — & It’s Not the First Time
A few years ago, Mayweather owed the government $6.1 million in back taxes, according to The Richest. Now, he owes an unspecified amount of money to the IRS for the year 2015.
According to CBS Sports, Mayweather has asked the IRS for a reprieve after finding out that he owes Uncle Sam money. While Mayweather has the assets to pay the government, he doesn’t have the cash. Mayweather filed the documents in court on July 5. In said documents, Mayweather is hoping to get a bit of a break until after he fights McGregor next month. He has also asked the IRS to waive the imposed fee for “failure to pay.” The fee is said to be 0.5 percent of owed taxes for each month.
“Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid. The taxpayer has a significant liquidity event scheduled in about 60 days from which he intends to pay the balance of the 2015 tax liability due and outstanding,” Mayweather’s petition read, according to the legal website Law360.
According to TMZ, McGregor is already talking smack following the report.
“That’s gotta sting. He shoulda paid his taxes and stayed retired and kept my name out of his mouth,” McGregor said on Monday.
2. Mayweather Jr. Is Set to Make (at Least) $100 Million Fighting McGregor in August
Mayweather Jr. previously said that he wouldn’t come out of retirement unless he was paid handsomely — to the tune of nine-figures. There is a confidentiality clause in place, however, so Mayweather Jr.’s exact paycheck will remain off the record.
“The 40-year-old Mayweather is expected to earn more than $100 million for a single fight for the second time in two years when he meets McGregor in a 12-round, 154-pound boxing match August 26 in Las Vegas. Exactly how much Mayweather (49-0, 26 KOs) and McGregor (21-3, 18 KOs in MMA) will make for McGregor’s boxing baptism might never be divulged, though. Leonard Ellerbe, chief executive officer for Mayweather Promotions, and UFC president Dana White wouldn’t discuss financial details during a conference call Wednesday night,” the Boxing Scene reports.
3. Mayweather Jr. Retired 2 Years Ago to Focus on His Company, Mayweather Promotions
In 2007, the famed boxer established his company, Mayweather Promotions. The company “promotes all forms of live entertainment including sporting events, live musical and theatrical events as well as film and television productions.” Mayweather is the president of the company and Leonard Ellerbe is the CEO.
“Presently, 20 unmatched and unrivaled fighters across six different weight classes are under contract. Now famously referred to as The Money Team, they include current and future champions Badou Jack, Gervonta Davis, Mickey Bey Jr., Ashley Theophane, Ishe Smith, Chris Pearson, J’Leon Love, Lanell Bellows, Ronald Gavril, Andrew Tabiti, Ladarius Miller, Junior Benjamin, Juan Heraldez, Charvis Holifield, Kevin Newman, Lionell Thompson, Maurice Lee, Sanjarbek Rakhmanov, Alexis Santiago,Tra-Kwon Pettis and Latondria Jones,” reads the company’s website.
Back in June, Mayweather trademarked TMT (The Money Team) 50 and TBE (The Best Ever) 50. TMT invests in various entertainment areas from fashion to music. Mayweather sells merchandise for his brand on his website.
4. Mayweather Jr. Has Earned $700 Million Over the Course of His Career
In 2010, Mayweather earned an estimated $65 million between endorsements, matches, and other endeavors. He made an estimated $72 million in 2011, $40 million in 2012, $34 million in 2013, $105 million in 2014, a whopping $300 million in 2015, and $44 million in 2016.
In his highest earning year to date (2015), Mayweather made $220 million when he took on Manny Pacquiao. A few months later, he made $32 million when he met Andre Berto in the ring.
“I will make seven figures a month for the rest of my life. I’ve made some very smart investments, and I’m living very comfortably. My children are going to school and will be going to college soon, and that’s what is most important to me right now. I’m just blessed way beyond belief,” Mayweather told talkSport in 2016.
5. Mayweather Owns a 5-Bedroom Home in Miami, a Penthouse in Las Vegas & a Few Pricey Cars
According to The Richest, Mayweather’s Miami home is worth $7.7 million. He purchased the home last year.
“[The home] has an ultramodern vibe with clean lines, vaulted interiors and Ipe wood siding. Walls of floor-to-ceiling windows bring views of the Intracoastal Waterway inside. Inside, some 5,200 square feet of open-plan space features a glass-and-steel floating staircase, formal living and dining rooms, five bedrooms and five bathrooms. White lacquer countertops and cabinets highlight the chef’s kitchen. Ipe privacy walls surround the perimeter of the property, which includes a zero-edge swimming pool and spa, a deck and a private dock. A rooftop patio with an outdoor kitchen completes the waterfront setting,” the Los Angeles Times reported.
Mayweather also owns a 2-bedroom penthouse in Vegas which was worth $1.8 million two years ago. The home is located on the 55th floor of the Palms Place high-rise, looking over the Vegas strip.
“The 3,142-square-foot unit has custom lighting, hardwood flooring and wood wall treatments. Walls of glass take in unobstructed views of the downtown cityscape and surrounding valley. Among highlight features is a telescoping glass wall that separates a living room and a game/billiards room. There are two bedrooms and 2.5 bathrooms, including a master suite with a sitting area, a fireplace and a large soaking tub,” the Los Angeles Times reported.
In 2015, Mayweather had quite a few pricey vehicles listed as assets. He had a $4.8 million Koenigsegg CCXR Trevita, a $3.2 million Ferrari Enzo, and three $6.2 million Bugatti 16.4 Veyrons. He also bought a Mercedes for $450,000.
Mayweather’s Mercedes Maybach 57S has gotten him into a spot of trouble. In September 2009, he was sued by lender JP Morgan Chase for failing to make payments on the vehicle, according to the Las Vegas Review Journal.
