Top Rank's CEO and founder, Bob Arum, will turn 86 years old on December 8.

He's been involved in the sport of boxing for 50 years and continues plugging away with no end.

His company is less than a week away from one of their biggest and most anticipated shows on the year, when world champions and Olympic gold medalists Vasyl Lomachenko and Guillermo Rigondeaux collide on Saturday night from The Theater at Madison Square Garden in New York City.

What keeps the Hall of Fame promoter going?

According to Arum, marijuana has been his secret to longevity for many years.

"The question is, if they gave me a VADA test, would I pass it?" Arum told CBS Sports on Wednesday during an appearance on the "In This Corner" podcast that will air next week. "I don't take performance-enhancing drugs, I mean, but I come from Nevada. So it's legal now and I have a puff every now and then. I plead guilty to that. Other than that, I keep my body in pretty good shape."

Arum has always been an advocate for marijuana and appeared in the 1975 film "The Marijuana Affair."

These days, Arum is a very happy man. Because earlier this year, Nevada legalized recreational marijuana - which created a Las Vegas boom with dispensaries popping up all over the city.

"I started [using marijuana] in 1966," Arum said. "Kids, young kids shouldn't do it because your brain is being formulated. But in 1966, I was in my 30s and I started. I don't do it at work, I do it for recreation. It's good for you, it's good for you. Cannabis is good for you!

"It's these damn people during the Nixon administration that really put cannabis into the position where it was a drug like heroin and cocaine and that was wrong. Now I think people in states like Nevada, Colorado, Oregon, Washington and soon California, people will be able to go into places and buy it legally like I do in Nevada."