Floyd Mayweather Jr set to splash out $402m on New York real estate

Floyd Mayweather is one of sport's prime examples of how a little business savvy can set you up beyond your wildest dream. Since he has slowed down on the fighting front, he's had a lot more time to scope out business opportunities, his latest being on a block of New York apartments – to the tune of $402 million!

According to The Real Deal, he has signed an agreement with Josh Gotlib of Black Spruce Management to purchase a portfolio of 1,000 affordable housing units spread across more than 60 buildings in Manhattan.

The deal, reportedly costing Mayweather $402 million (approximately £330 million,€380 million), is a project close to his heart. The boxer told TMZ: "Growing up, I used to dream about owning just one home for myself. When you work hard, you can achieve anything."

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Property is a huge interest for Mayweather – more on that in a minute – and while $402 million is far from chump change, for someone with a net worth of over $1.1bn (£900 million/€1 billion), as Forbes reports, it's probably a little like buying a new car for someone like Mayweather.

Mayweather's income primarily stems from his boxing career, where he earned hundreds of millions of dollars. By promoting his own fights through Mayweather Promotions, he was able to retain a larger portion of pay-per-view revenues and ticket sales, significantly boosting his earnings.

For example, his 2015 fight against Manny Pacquiao generated over $400 million (around £325 million, €375 million), with Mayweather himself taking home approximately $250 million (around £203 million, €234 million).

Even after officially retiring, Mayweather continues to generate income through high-profile exhibition bouts. His 2017 fight against UFC star Conor McGregor earned him an estimated $275 million (around £224 million, €258 million). He has kept up a healthy habit of these exhibition matches all over the world since, though none quite as lucrative as the McGregor bout.

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But as much as Mayweather earns, his spending seems to almost match it with purchases that often defy logic. His shopping sprees and over-the-top purchases have become a part of his public image. Let's take at some key areas where his spending has gotten a little crazy.

Mayweather is well known for his love of watches, with one of his most talked-about purchases being the Jacob & Co. 'Billionaire' watch. This watch, valued at $18 million (£13.4m, €16.1m) features 260 carats of emerald-cut diamonds. He claims to own over 40 watches and regularly travels with several million dollars' worth of timepieces, reportedly rotating between his luxury pieces depending on his mood​, according to Forbes.

Floyd owns not one but two private jets. His main jet, the Gulfstream G650, is often called 'Air Mayweather.' It's rumored to have cost around $60 million (around £45m, €54m million) and features plush interiors, including gold accents. Mayweather enjoys flaunting his wealth on social media by posting pictures of himself boarding his jets with large stacks of cash, as reported by Marca in 2019.

Mayweather's car collection is nothing short of extraordinary. He reportedly owns dozens of luxury cars, including multiple Bugattis, Ferraris, Lamborghinis, and Rolls-Royces. One of his most notable purchases is a $4.8 million (around £3.9 million, €4.5 million) Koenigsegg CCXR Trevita, one of only two ever made.

According to Millionaire Garage, Mayweather has spent an estimated $200 million (around £163 million, €188 million) assembling his fleet of vehicles, with many being identical models in different colors, highlighting his lavish taste in luxury cars.

Mayweather's real estate portfolio rivals his impressive car collection. His primary residence is a sprawling 22,000-square-foot mansion in Las Vegas, valued at $10 million (approximately £8.2 million, €9.5 million). The luxurious estate includes a candy shop, two guest houses, 11 bedrooms, and even a vineyard! In addition to this, he owns a $25 million (around £20 million, €23.5 million) mansion in Beverly Hills, which includes a private cinema and a wine cellar.

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And while it should be no surprise that an uber-wealthy professional athlete like Mayweather would have a personal chef at home, the price he pays might. Quiana Jeffries, aka Chef Q is Mayweather's go-to chef, and he pays her $1,000 (around £750, €900) per meal for her services, Jeffries told First We Feast in 2022. In fact, he's so impressed with her work that he keeps her on a retainer.

Some of Mayweather's purchases are simply bizarre. For instance, he reportedly spends up to $6,500 (£4,800, €5,800) annually on 'disposable underwear', as reported by Yahoo Finance. He claims he never wears the same pair of underwear twice. Another notable expenditure was the $1,000 (around £750, €900) he dropped on Super Bowl tickets just for his pets to have their own seats​.

While Floyd is known for his lavish spending, he has also made smart investments. Much of his wealth comes from his promotional company, Mayweather Promotions, which is responsible for organizing and promoting major boxing events. This venture ensures that Mayweather stays involved in the sport and earns from major fights even when he's not stepping into the ring.

At the 10X Growth Conference in 2020, Mayweather shared his journey into real estate. It began with a modest $5 million (£3.7m, €4.85m) investment, which earned him $50,000 (around £37,000, €48, 000) in monthly returns. Impressed by the steady profits, he decided to increase his investment. Over time, this led to Mayweather placing nine-figure sums into the real estate market.

According to a report from GCTV, Mayweather also owns an impressive portfolio with investments in nine skyscrapers. Most of these properties are situated in New York, such as the iconic One Vanderbilt, a 93-story skyscraper in Manhattan which is a part owner of. One Vanderbilt is currently the tallest commercial building in the U.S., highlighting Mayweather's investment acumen. Altogether, his real estate holdings are valued at over $150 million (around £112m, €134m).

In addition, Mayweather has invested in the hospitality industry, particularly in high-end gentleman's clubs. His 'Girl Collection' nightclub in Las Vegas is another revenue stream for the retired boxer, capitalizing on the city's thriving nightlife.

He also makes paid appearances and speeches at high-profile events and earns millions from meet-and-greet events, brand partnerships, and social media promotions, according to Essentially Sports.

Despite his wild spending, Mayweather seems to have it all balanced out with lucrative investments that apparently will continue to pay dividends, so it appears 'Money' Mayweather is at no risk of becoming destitute!

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