How long until Mayweather is bankrupt?

[iamboxing]

Two things prevent Mayweather from ever going broke:

1. Keeps his women in check
2. Isn't married

[boliodogs]

I don't think he will ever be bankrupt. He spends money like a damn fool and he has a ******** problem. Still he is very smart at making incredible amounts of money. He should follow the 50/50 rule that all sports and movie stars who make huge money should follow. He should take half the money he makes and be crazy with it. Buy boats, airplanes, homes 8 million dollar watches, bet a million on a ball game and so on. Take the other half of his money and put it somewhere completely safe like a bank and never touch it. It he does that he will always be very rich. If he is foolish enough to spend every dollar he makes and keeps living that insane lifestyle he could go bankrupt. I think he is smart enough not to do that.

[Squ□redCircle34]

He’ll never go broke, he puts his money in interior investments all across the country and in other countries as well!

Floyd still has money that he hasn’t even touched yet that’s probably older than himself!

This is called not smart saving but smart investments and not all investments obviously won’t pay off but some will and that’s what counts at the top!

I’m sure those things people say he spends on can be considered tax write offs and he can redeem it if he keeps his receipts of it!


Face it, Floyd would have to spend over 50 to 70 mill a month to be in jeopardy of being bankrupt and even so he can file for bankruptcy to protect assets amongst other filings!

Then there’s his memorabilia and not to mention other filings!

There’s reason even retired Floyd is still the cash cow of sports, look at Canelo the so called face of boxing still wanting to fight him!

[Marchegiano]

He's currently talking **** to Khabib and Canelo at the same time.

[pasawayako]

pac spend 100 of millions in helping people while floyd spend 100 of millions in ********, watches, whore etc.

[Noelanthony]

It's a serious addiction. Almost got a hold of me 10 years ago. Barely able to control it, but if I had 300 million to burn, I can see how it becomes exponentially more difficult.

Shaking an addiction when you have an endless ATM might be impossible for some.

Serious addiction is a understatement. The more money you have, the more money you lose. It totally wiped me out. 7 years on I’m not even half way into recouping the money I lost.

[Noelanthony]

I know some members of his family. They claim it’s all an act and he’s actually frugal. I don’t believe that for a second.

Mayweather has been traveling the world and hanging out with billionaires. To Floyd, it’s all about one upping people. He’s been around people who have way way more money than he’ll ever have. If he’s trying to one up them he will be broke soon.

You and I think about $750 Million and think, man, I’d have everything I want and not work, and I could take care of my family. I’d also have several houses. Floyd thinks about it in terms of wanting a second plane that costs $12 Million a year to own and operate. He wants to show off. And he wants to show off to people that it’s really hard to show off to.

So he’s burning through money doing ****** things, like making it rain $100k at the club. Or running up $50K night after night at clubs while buying his entourage new threads every week.

He will be broke, I guarantee it. And he will not finish his career undefeated, I guarantee that too. He’s going to keep fighting.

You sound ridiculous..... he will be broke I guarantee it ! He will be beaten I guarantee it, LMAO!!

I guarantee it you are a hater or a Pac fan? ....... Take your ****** eyes of his money and worry about your own life

[billeau2]

I post a lot on this subject. It is not, I repeat NOT out of any hate for Floyd, or shadenfreud. I find it amazing at how blind people are to the real forces at work when it comes to why we go broke.

Let me just give precedent here, because precedent tells us what has been and indicates what might then be. Sugar Ray Robinson at the height of his wealth had a solid block in Harlem, chock a block with businesses, etc. He went broke and people wondered why. Robinson made about 30 million bucks adjusted for inflation, but there are others like Step en fetch who made gobs of money and wound up broke as well. Was it all mismanagement?

The first thing to realize is that when some of you say, "all Floyd has to do is put his money in a safe place and let it grow." of course! a bank account right? a CD perhaps? The rate of inflation is a tax that works on people with more dollars and it is a big wealth shrinker. If Floyd literally put his money in a mattress it would lose tremendous value to inflation over the years. There is no such thing as a safe place to keep your money.

The real problem with an athlete is that ALL Floyd's income is on paper. So all his cash is taxed... Consider the tax on his bank account safe money along with inflation and one will see that one cannot simply put money in the bank.

Finally lets look at the real tax expenses Floyd has to deal with. Luxury items are taxed heavily, his real estate is new, so there is no depreciation, but there are property taxes. Then there are millionare taxes that are paid because of the amount of cash floyd has, and taxes will cut his estate to a third if he tries to pass it down as cash.

Taxes make it virtually impossible for someone to hold on to large cash estates. The reason Floyd will go broke is because, like most people ignorant of how the IRS works, Floyd wants to be associated with his money. And when someone claims ownership of their cash guess what? it is taxed like an income. Every time Floyd loses a bet the IRS leaves him alone, but when he wins? he is taxed...And the big chunks of money that he pays at tax time are a way for the Illuminati to take a bunch of income earning potential away from you.

If Floyd wanted to hold on to his money he would do what real rich, illuminati do: In the illuminati families nobody owns anything. So when you are a Rockefeller for example, as long as you are with the program, you have access to the family resources. BUT if you are cut off, you literally own the clothes on your back and that is it. That is why whistle blowers from these families often need funds.

Rich families put all their assets in trusts that act as a de facto owner for the funds. When they want something they use it in the trust. So, I have a vacation home owned by a trust, I can use the house for anything I want, but it does not belong to me, it belongs to the trust. Real Illuminati rich often drive cheap cars, and seldom generate an income, or buy luxury items because of the cost to maintain them and because of the taxes associated with owning them.

Trusts, life insurance contracts, and using businesses to generate (and to launder) money is how the real rich function. A business is a tax write off. But you cannot use a strip club as a tax write off... you cannot ask the IRS to deduct your dancers bodies as they depreciate lol. floyd's promotion club has the same problem, there is no depreciation, no boot (material items) to depreciate and write off.

Finally the type of real estate Floyd has is not a write off! For example, When I completed my update of my two units in San Francisco, as far as the IRS is concerned it could cost me millions. Now I might be smart and make my improvements with very little, but the write off of a great amount of income is expected and it allows me to appear as though I have little to no income from the property because of the depreciation. This is a tax shelter, a legal one...Floyd instead has mansions and villas. no depreciation and heavily taxed properties are not an asset they are a liability.

So why doesn't Floyd get hip? Well....lets call it the Mike Tyson effect... A twenty year old Mike has a tantrum and the coach turns to you and says, "talk to him." You go towards him, his jaw is clenched, his hands are up, do you say?... "get it together boy or you and I are going to dance!!!" Do you say?.. "mike I love you unconditionally and i need you to sit down and process this episode with me" or do you look at him and say "hey champ, looking good!" run out the room and swagger up to the coach and say "yeah me and Mike we got it straight, didn't even have to put a hurtin on the boy."

Point is, who wants to be the financial adviser to tell Floyd "Look you bald headed mutha8uka who spends 12k for a barber, you will be broke in a few years if you do not take all your material possessions, and put them out of your name, stop earning income and start funding businesses with assets, and otherwise locking assets away in structures that limit your claim to ownership." What do you think Floyd would tell you?

[R_Walken]

Mayweathers broke is on a different level then the avg persons broke

For instance I bet the thread starter is avg person broke and worth less then a $1000 since he likes to pocket watch and speculate on other people finances

Mayweathers broke is probably 7-8 figures , Most people would kill their own mother to be his kind of broke

plus his name still and will always hold weight so he can use it like Tyson did when he was so called broke to generate a couple million probably at any point he chooses whether through appearances or whatever l. There will always be a avenue Floyd to make good $

[billeau2]

Mayweathers broke is on a different level then the avg persons broke

For instance I bet the thread starter is avg person broke and worth less then a $1000 since he likes to pocket watch and speculate on other people finances

Mayweathers broke is probably 7-8 figures , Most people would kill their own mother to be his kind of broke

plus his name still and will always hold weight so he can use it like Tyson did when he was so called broke to generate a couple million probably at any point he chooses whether through appearances or whatever l. There will always be a avenue Floyd to make good $

Again, your buying into a lot of misinformation. Broke is one of the concepts that people get drilled with...Its habitual right? its normal to be broke and then to have, to spend when you have because hey its all good right? Your buddy says "man im busted broke," you laugh buy him a beer... Nobody ever thinks that to be broke at any time means potentially that you have nothing.

Most people have nothing. And if you cannot protect an asset then you do not own it. Because it can be taken away from you in an instant. History in the US of A will show exactly what i am saying to you...why were farms taken away from farmers who could not pay the taxes when the farm was inherited? Because they could not protect the asset from the IRS.

So...if your average person (your term) has nothing, what kind of wealth does Floyd have? Well most of his wealth is in cash, which is the weakest asset class. His other asset is himself. He can use himself as a thing to be marketed to a degree, and he can maybe as RED says fight a few more times, no doubt.

But there are some forces that cannot be overcome and they exist with money... Inertia works with money, your money can decline, or it can increase, there is no standing still, no such thing as saving. Saving is being taxed by inflation. Your money either works or it does not and if it does not, then it is always a finite resource. For you, for me, for Floyd and everyone it is the same rules.

There was an article once about a man with a family in Silicon Valley during a bad recession. He made the point that to live in an income of 300k in the valley was poverty level. Now sure, this man could have gone and lived in paraguey, Just like you, or I could have saved a dollar a day since we were ten and been teeming with cash! (kidding) but people do not do certain things. Floyd will never learn how to consume according to his means, he is just not capable of doing so. We don't spend money for rational reasons, we spend for pleasure. Most of us could practically live with no money of we really tried.

So the argument that Floyd could not out consume his money is nonsense. Just look at the many lottery winners who went broke for all the reasons I have stated: The IRS, they won 100 million and wound up with 45 million to start with. I refuse to play the lottery for fun, not because it is impossible to win (it is), but out of principle. You do not win what they say you win.

And then? people consume and start to buy things never realizing that the rest of their money will be taxed as regular income, so now they are down to 25 million, and before you know it...its gone because buying luxury items is yet another tax, and maintaining an estate, another expense, and the money is still not generating anything...

Actually its almost impossible to hold on to cash money that the IRS know exists, its worse yet in other countries but the same situation. One would have to buy mountains of expensive life insurance among other things.