Floyd Mayweather Jr says two people he once trusted took a combined $550 million from him in separate financial disputes. The retired boxer discussed the losses during a recent appearance on the PBD Podcast.
Mayweather first pointed to a person he described as a father figure. That person encouraged him during his early efforts to become his own promoter. Mayweather paid $750,000 to buy out his contract and later said he made $750 million across three matches with Conor McGregor, Manny Pacquiao and Canelo Alvarez.
Looking back, Mayweather said he did not initially see the full picture.
“We started looking at the paperwork years later and then we come to find out 350 million was stolen,” he said.
Mayweather said the money was connected to a backend deal with Showtime and was supposed to go to Mayweather Promotions. Instead he said, it was sent to someone else’s account. He said the matter is still in litigation.
He then described a second person who sat next to him and acted like a friend while helping him clean up business.
“He stole 200 million,” Mayweather said. That brought the total to $550 million. When asked if the amount was correct, he said, “Yes, and I still live a great life.”
Mayweather did not name either person. He said con artists and thieves operate in all types of business and that such losses come with the territory.
The boxer said his upbringing prepared him for setbacks.
“I was born poor. I was born broke,” he said. He added that he can climb back from the bottom because he started there.
Mayweather stated, “So I was able to work myself from nothing to something. So if I go all the way to the top and once you go to the top, I can go all the way to the bottom. But I can go back to the top. I started at the bottom and I know how to climb. So as long as I know how to climb, I will always be okay.”
Mayweather also shared the rule he now follows after the disputes. “Trust but verify,” he said.
Mayweather will turn 50 in a few months and said he still lives comfortably. He said his family is healthy, and he continues to focus on building wealth.
