Is Floyd Mayweather the richest athlete in the world?
Floyd Mayweather isn't the wealthiest athlete in the world. In fact, according to Celebrity Net Worth, Mayweather is the seventh richest athlete on the planet currently, with an estimated net worth of $450 million. Former NBA legend Michael Jordan is the richest athlete in the world, with an estimated net worth of $2.2 billion.
As of 2020, Mayweather's total career earnings have been estimated to be over $1.1 billion. However, what is most notable about Floyd Mayweather's entry into the billion-dollar club is that he made the money with very few endorsement deals.
His fights against Manny Pacquiao in 2015 and Conor McGregor in 2017 earned Mayweather a total of $550 million. So, Mayweather actually made half a billion from just two fights. Mayweather is the 5th highest-paid athlete of all time and is one of the very few athletes whose career earnings have crossed the $1billion mark.
Floyd Mayweather was declared as the highest-paid athlete in the world in the Forbes and Sports Illustrated lists of the 50 highest-paid athletes of 2012 and 2013. Mayweather topped the Forbes list again in both 2014 and 2015. Mayweather was declared the highest-earning athlete of the last decade, from 2010-2019.
Floyd Mayweather's tax problems over the years
While Floyd Mayweather has made an incredible amount of money over the years, he also got into trouble with the Internal Revenue Service (IRS) which is responsible for the collection of taxes and enforcement of tax laws. In March 2017 the IRS claimed that Floyd Mayweather owed $22.2 million in taxes related to his 2015 income.
Apparently, Mayweather, whose total earnings are estimated to be well above $1 billion, claimed that he didn't have enough cash to cover the debt. However, his lawyer later assured the IRS that the amount owed by Mayweather will be paid with interest and penalties directly from the earnings of his fight against Conor McGregor.
While Mayweather has made a lot of money in his career, he also knows how to spend it. Floyd Mayweather is known for his gambling habits and often spends millions over expensive jewelry, cars, private jets, mansions, and even his own strip club.