“Broke”: Jake Paul Accused Floyd Mayweather Of Losing Assets, How True?

“Broke”: Jake Paul Accused Floyd Mayweather Of Losing Assets, How True?
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He can’t be broke after risking his life in the ring, right?

On June 6, 2021, a year ago, YouTuber Logan Paul entered the boxing arena to face five-division, 50-and-0 world champion Floyd Mayweather. To everyone’s surprise, the fight lasted eight complete rounds, and Floyd was pronounced the winner based on points and scoring. 

Notably, Floyd did not punch out Logan, as virtually every Pay Per View viewer expected, and according to Pay Per Viewers, approximately one million fools paid $49.99 to purchase the match. Floyd was guaranteed $10 million to show up for the fight.

As the principal promoter, Floyd paid himself $10 million approximately one week before the fight. He was also guaranteed fifty percent of any PPV revenue that was ultimately generated.

At $49.99 per ticket, the match generated approximately $50 million in PPV income. Consequently, Floyd’s earnings from the fight totaled $10 million plus $25 million, or $35 million.

Just for showing up, Logan Paul was guaranteed a relatively meager $250,000. Floyd paid Logan $250,000 approximately one week before the fight. The remaining 60% went to distributors and other promoters; therefore, Logan’s total compensation should have been $250,000 plus $5,000,000, or $5,250,000.

As previously stated, Logan Paul claims he still needs to be paid the $5 million he is owed for PPV revenue. In an Instagram post commemorating the first anniversary of the fight, Logan characterized Floyd as “hard to hit, but even harder to collect money from.”

Jake Paul has a reasonably straightforward explanation and believes Logan hasn’t been paid because Floyd is “broke.” Jake Paul stated in a recent interview that all of Floyd’s $1.2 billion in earnings had been spent. 

When Instagram celebrity Rob Moore queried if Logan had been paid, Jake responded, “Nope… Floyd is a Broke guy. I have been saying this the entire time… I believe he spent the money to compensate those women for being around him.” Floyd has experienced unexpected financial instability and uncertainty, despite amassing enormous wealth. 

In March 2017, the IRS slapped Floyd with a bill for $22.2 million in back taxes in 2015, when he earned $250 million fighting Manny Pacquiao. Floyd had already earned approximately $600 million at this stage in his career, including this payout. 

Consequently, it may be surprising that Floyd’s attorneys responded to the IRS asserting that Floyd could not provide the money on short notice because his assets were restricted and primarily illiquid. So, when Floyd fought Conor McGregor 60 days after receiving that demand, the IRS was first in line when the Pay-Per-View funds were available for distribution. 

The IRS received $22 million in total, plus interest and penalties. Then, just a few years later, Floyd’s ex-friend, 50 Cent, alleged that the boxer was bankrupt, so he continued to fight.

Floyd Mayweather’s lifestyle is anything but economical, so the possibility that he has lost a substantial portion of his net worth is only partially implausible. Floyd possesses two residences in Las Vegas, a $25 million mansion in Beverly Hills, a New York City apartment, and a $18 million waterfront mansion on Palm Island.

He has two private aircraft. One is a Gulfstream G650 private aircraft valued at $60 million; the other is a Gulfstream III worth $30 million. Floyd reportedly travels with his closest associates in the G650 while his entourage follows in the second plane.

The documented value of Floyd’s jewelry collection is at least $25 million, with one watch alone costing $18 million. Floyd possesses dozens and dozens of automobiles. He once disclosed to an ESPN interview that he owned automobiles worth $15 million that he had not yet driven.

Floyd is notorious for placing six-figure wagers before critical sporting events. This is known because he typically posts invoices on Instagram, and it is impossible to determine whether Floyd has won or lost money wagering.

Therefore, until there is a bankruptcy filing, an IRS levy, or other verifiable evidence, Floyd will receive the benefit of the doubt. In the interim, wait for Floyd to begin liquidating assets such as his private aircraft and several mansions.