Floyd Mayweather Jr owes $6.2 million in federal income taxes - COMEBACK INEVITABLE ?

[S A M U R A I]

Maaaaan, this is nothing compared to what happened to Joe Louis.

Joe Louis got absolutely ****ed out of his money. It was sad to see how they did Joe Louis.

I don't think he was making a direct comparison to Louis. He said "This is where it begins".

I agree. Mayweather needs to be smart about this and not keep pissing money down the drain.




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[deanrw]

Floyd is in a little of a tight spot. He is worth well more than 6 million, but most likely does not have it in real cash and has most of it invested.

Problem is, he cashes out that money and then that itself is then taxable as he most likely invested that money as a long term investment in order to keep that money a non taxable safe haven.

Add to that he most likely took some severe financial hits when wall street went bottom up and yeah, he is in a financial pinch right now.

[We want Floyd]

That's really not a lot of money. He has a lot more than that.

You're kidding right, How else is Floyd making a living these days, sure, he's got his Money May Productions(not really sure how that's goin'), I have no idea what other business investments he has made.

If he loses the 6 million, how else is he gonna get that back, and how soon?

[MOREBASS]

I don't think he was making a direct comparison to Louis. He said "This is where it begins".

I agree. Mayweather needs to be smart about this and not keep pissing money down the drain.

Naw, I understand. I'm just pissed at how they did Joe Louis.

[Fulcrum29]

That's really not a lot of money. He has a lot more than that.

I don't really agree. I see Mayweather having anywhere from 40-60$ million at the most so 7 million tax is a decent chunk of that.
Some of you guys over estimate how rich athletes/celebrities are. For example ya'll would have probably thought heath ledger was caking yet when he died they said his estate was only like 15$ million or something along those lines, so I don't necessarily expect Floyd to have much more than 30-60million or so and that money is constantly waning due to his expenditures and profligate life style

[Fulcrum29]

You're kidding right, How else is Floyd making a living these days, sure, he's got his Money May Productions(not really sure how that's goin'), I have no idea what other business investments he has made.

If he loses the 6 million, how else is he gonna get that back, and how soon?

Exactly all those productions and ****** rich records are probably LOSING money. It costs money to upkeep studios and rappers and record producers and buy beats and equipment and to my knowledge no one on earth knows what the **** ****** rich records is or has bought any of their crap so I'm positive he's lost at least a few million $$ in investments in that alone, why else would he have released a video a few weeks ago where Floyd himself is selling shirts and hawking coffee mugs and such, times must be rough for him.

[Fulcrum29]

This is where it begins. The taxman hammers the guy, the guy makes a bunch of money to pay his taxes and guess what? That money is taxable. So he has to pay the tax on that as well. So he has to fight again to make more money to pay the tax bill on the money he made to pay his tax bill, and the money he makes, that's also taxable. It ends up with a fighter being well past his prime being hammered for peanuts in a vain attempt to keep the wolf from the door.

It happened to Ray Robinson, it happed to Joe Louis, it has happened to a lot of fighters, particularly ones who choose their buddies to be their business manager.

hey man no sympathy though, with 30 million dollars the interest on that alone would probably be in the millions per year so if you aren't a fool and blow it all you can comfortably live RICH off that interest for the rest of eternity

[moin126]

poeple forget this dude, has fought 39 times, with also some ppv events before hatton and DELA!
he's got money alright..
enough. But i bett he wants more.

[Fulcrum29]

poeple forget this dude, has fought 39 times, with also some ppv events before hatton and DELA!
he's got money alright..
enough. But i bett he wants more.

yea and the average income for those 39 fights prior to the last few megafights was probably not even 1 million dollars. factor in million dollar sports cars and homes and ***elry and what you have left is not that much $$

[MikeBrew328]

Floyd is the biggets star in the sport and its not just because he beat Oscar.

I agree. He knows how to be a PPV fighter, from the pre-fight demeanor to the postfight conferences... You can see that now...De La Hoya-Pacquiao wasn't close 2 Mayweather.