There are reports that boxing superstar Manny Pacquiao is only worth 26 million dollars. That said, in his last two fights alone Pacquiao made 40 million. Recently ABS-CBS asked about it. Check out this EsNewsReporting video.
Most of these athletes are uneducated especially now we got high shool kids playing pro sports. They don’t understand the meaning of “accounting, management and investment”. I don’t even think Manny Pacquiao has a retirement plan. $26M is really not much in the US, if you got elites with $1B. Since Manny Pacquiao leaves in the Philippines his worth is P1B. So he is wealthy.
We should also not forget Uncle Sam. If the IRS is after Floyd Jr. for not paying his over due taxes even before the JMM fight. Now he still has unpaid taxes from the Mosley fight. We never heard the IRS are lurking behind Manny Pacquiao. Without taxes we can say that its true what the FORTUNE Magazine had rate Pacquiao. After that said, take out the taxes. Its like winning the lottery of $100M. After taxes the winner went home with $50M lum sum. So $26M is a posibility.
I don’t know enough about Pacquiao’s money sense to make a claim. He may or may not be. Pacquiao seems to be a kind of guy who puts people around him that he “trusts” and let’s them take care of most of the business with his money, and he’s willing to pay them for their services. He doesn’t seem to be leading as hedonistic a lifestyle as some other famous ppl we know who had millions and ended up with nothing. If anything, Pacquiao gives a lot of his money to worthy causes and into his congressman duties. Could pacquiao have miscalculated the amount of outgoing fees, charges, services he has to pay? Sure. It’s happened to others before. But I’d like to believe that Pacquiao is smarter than that. He’s a well-grounded, modest and humble person, who doesn’t seem like he’d carelessly blow all his money for pleasures. If anything, if he’s ever broke, it would be because those around him sucked him dry like a cash-cow. As for now, these are just rumors, unsubstantiated, much like the PEDs rumors. So I don’t think ppl have to worry about Pacquiao going broke. Besides, he’s got a lot more going for him than just boxing. He makes a lot of money from endorsements (internationally too), bits in singing and acting, to go along with boxing. I’d hate to think someone like Bob Arum and company are milking pacman of all his money like the way Don King and company did to Tyson.
Yes. Also…..most people do not realize how much money taxes, promoters, managers & trainers cost! If Pac made $40 million in his last 2 fights, he’d be lucky if he pocketed $10 million. I just hope he is smart enough to put some of it away. After all he’s accomplished, I would hate to see broke & living in some Manila slum, 20 years from now
You must be logged in to post a comment.
Mikey Garcia vs. Manny Pacquiao: Who Ya Got?
1. Floyd Mayweather
2. Andre Ward
3. Mikey Garcia
4. Juan Manuel Marquez
5. Danny Garcia
6. Gennady Golovkin
7. Nonito Donaire
8. Wladimir Klitschko
9. Tim Bradley
10. Adrien Broner
1. Floyd Mayweather
2. Andre Ward
3. Juan Manuel Marquez
4. Guillermo Rigondeaux
5. Manny Pacquiao
6. Adrien Broner
7. Saul Alvarez
8. Sergio Martinez
9. Nonito Donaire
10. Mikey Garcia
#1 SEO Matt Hamilton: The Undisputed Pound-4-Pound #1 of SEO. World class SEO Consultant Matt Hamilton. For the #1 in SEO Packages look no further than Matt Hamilton.
Matt takes care of the online visibility requirements of leading suppliers of Plumbers London; promotional pens, trophy cups; football trophies; roofer London; roofer South Kensington; Van and Man London; Interior Designers London; massage Epsom; business awards; Hijama Therapy; building services London; corporate gifts & accountant Surrey.
©2012 ESNews | Designed by GreenWorm Studios | #1 SEO by Matt Hamilton | #1 Trophies