The sport of boxing has evolved. From the days of Jack Johnson to the era of Muhammad Ali, there has always been considerable momentum around boxing matches. And who can forget the 90s that gave us the roller coaster that is Mike Tyson? However, you can’t have an entire conversation about sports without mentioning the living legend, Floyd Mayweather.
According to ESPN, Floyd Mayweather is the highest-grossing boxer of all time. Known as “Pretty Boy Floyd” in his early years, Mayweather entered the sport in 1996 and at the age of 18th professional fight, knocked out the late Genaro Hernandez in the eighth round to win his first title and capture the WBC super lightweight belt.
He would go on to dominate his division, finishing his career with 50 wins, zero losses and five division championships.
His striking in the boxing ring earned him a spot in the Nevada Boxing Hall of Fame. During his acceptance speech, Mayweather told the decorated crowd that his best investment was to use the $750,000 to buy himself out of his contract.
According to Celebrity Net Worth, Floyd Mayweather, 45, has a net worth of $450 million. Therefore, the cost of the repurchase agreement was just a drop in the bucket for him. But what did that mean for the rest of his career?
Hall of Fame
Nevada Boxing Hall of Fame induction weekend was August 26-27, 2022. During this year’s events, honorees from the 2020, 2021 and 2022 induction classes were recognized. Mayweather joined Roy Jones Jr. as the only other members of the 2021 rookie class
When Mayweather took the stage to accept the honor, he talked about those who have greatly influenced his career, namely his father. From there, he talked about his belief in generational wealth and how he deliberately worked to ensure he had solid plans for his children and other family members.
Part of that deliberate work was what he described as using his skills in the ring to benefit his moves outside the ring. One of his most significant moves was taking ownership of his promotional contract.
“One of the great things about my career was when I got older and thought about my career. I said, “You know what I’m going to do? I want to be my own promoter. So one of the best investments was $750,000 when I bought out of my contract,” Mayweather explained in his acceptance speech. “And then in three fights, with Conner McGregor, Manny Pac and Canelo, I was able to make $750 million.”
It takes a village
Looking back on his impressive career, Floyd noted that he couldn’t have done it alone. The strength of his team has helped him achieve the monetary success he has acquired over the years.
“I didn’t do it alone. I had to have a great team and a great game plan,” Mayweather said.
With the likes of Al Haymon and the rest of Mayweather’s promotional staff, the Grand Rapids, Mich. native is focused on continuing to build generational wealth for those closest to him. In his words, “every day is a battle.”
The future of boxing from Mayweather’s perspective
Although Mayweather only participates in light punching exhibition fights these days, he still makes his mark in the professional ring. His current goal is to help young fighters grow. In fact, he wants to see the day when young fighters surpass the work he has done in the ring.
But to do that, he believes young fighters need to maintain their health, noting that one can make a lot of money, but it will be short-lived if health is not a priority. This belief led him to open a series of boxing gyms around the world.
One of the messages he conveys to young fighters and others is that one must be in control of one’s career.
“One day I want to see young fighters surpass Floyd Mayweather,” he said. “I could retire when I wanted to retire, on my own terms.”
Mayweather ended his speech with one final piece of advice, summing up the sentiments he expressed in the speech.
“To all the champions coming after me, save your money, be smart and the less you get hit, the longer you can last in the sport of boxing,” he said.