50 Cent Money Mayweather fallout
- Thread starter Calmye
- Start date
Its very possible hes not as well off as he pretends to be. He could have made the money yall thought he did. But people rarely think about the cost of retention over the years balanced with the cost of new acquisition combined. Floyd is spending dozens of millions on shyt, while still having to spend millions more on property taxes and recurring annual expenses on all of that shyt hes been buying for the last decade stacked on top of his normal yearly expenses for both personal, security and business costs then layered with whatever or whoever else he is supporting financially.
It costs over a million a year to just SPEND 20 million. People don't get that. Those recurring taxes stacked on top of mortgage payments for mansions and shyt will eat you alive. And thats after you give away 50% of your fight earnings to taxes in the first place....
O.T.I.S.
Veteran
So did Muhammad Ali, Evander Holyfield, Mike Tyson, etc.
It was just that... an exhibition usually done as a favor in a lot of sports.
Beyonce sings at birthday parties for billionaires in Dubai that pay her very generously for one performance... I guess she’s broke too though
O.T.I.S.
Veteran
So what is 50
Did you just compare Lehman brothers to Floyd?floyd groupies flocking
I don't trust 50 but anyone can go broke
Lehman brothers thought they were good until suddenly they weren't
<<TheStandard>>
I Am A God
You really just want to argue? I didn't say anything about Floyd Mayweather being broke dude, just mentioned he did an exhibition. Like I said before, I'm not pocket watching.
staticshock
Veteran
These clowns don't even try and hide it. Bunch of puss ass sun allergic bozos who have nothing better to do with their sad lives than to interject into black folk business. Floyd aint take an L yet and then that recent graphic got these crakkers pressed af
staticshock
Veteran
These clowns don't even try and hide it. Bunch of puss ass sun allergic bozos who have nothing better to do with their sad lives than to interject into black folk business. Floyd aint take an L yet and then that recent graphic got these crakkers pressed af
exactly...dudes talking about Floyd "isnt smart" like he's supposed to be a NASA physics engineer. Some of yall talking real greasy in here like you're apart of MENSA or made perfect IQ test scores
O.T.I.S.
Veteran
And the only other boxer on there is PAC and the only reason PAC is on there because Floyd gave him the handout...These clowns don't even try and hide it. Bunch of puss ass sun allergic bozos who have nothing better to do with their sad lives than to interject into black folk business. Floyd aint take an L yet and then that recent graphic got these crakkers pressed af
Dude was fighting in Macau a few years ago right after the handout too... bu-bu-but Floyd
Piff Perkins
Veteran
While I generally agree with you I doubt Floyd has any mortgage payments. He's the type of dude who buys stuff in cash. All he's paying are property taxes and monthly HOA fees.
The problem with Floyd and many other former athletes and entertainers is that they spend more than they make. Maybe Floyd has some investments, but based on what he's said and done (IE having millions of dollars stacked in his house) I doubt he's investing properly.
Eventually the burn rate will catch up with people in that situation. Between taxes, people stealing your money, legal issues, baby mamas, helping family, large purchases, and stupid recurring fees (renting out multiple suites at a hotel for a month and only spending a couple days there) it's gonna catch up with him. These exhibitions and potential fights aren't about him being broke...they're about him delaying the inevitable.
He had the majority of his wealth in a regular checking account. That implies that he has no money in investments, equities, or funds of any kind be it in the form of accumulation or income versions.
If he has no money in tax efficient investment vehicles with a chance of growth or income then it begs the question of how he finances his lavish purchases. On a basic level it pretty much leaves the options as liquid cash or credit.
The thing with credit is it will either be a line of credit, however large, that will have an interest rate. He will have to make payments to that line of credit via his liquid cash in his checking account (which remember isn't earning him very much if anything at all. Almost certainly not more than the interest rate you'd assume). He could use credit cards to finance purchases but even those will need to be satisfied within a maximum of, say, 50-odd days to avoid an interest cost. If he doesn't clear the balance within that time frame from a statement a larger rate will be applied. He may have a deal with the credit card company that gives him 0% rates for X amount of time, or in perpetuity so they can make on the transaction fees. But again, at the end of the day, all satisfied from his pool of liquid cash, albeit slightly delayed.
The longer a situation like that continues the more it would chip away at liquid cash. When you're discussing high value purchases, high value bets, time frames are reduced and the issue exacerbated quickly leading to cash flow problems as he would likely hold valuable chattel assets yet no liquid cash. In desperate situations of cash flow problems the value of those chattel assets are greatly reduced as people who can help you will make by offering you a value for those assets that are below market value, which just reduces your net worth more.
So essentially, on a basic level, that is the type of scenario you think of when you see someone with so much money appearing so prideful in being so financially illiterate and how it's quite easy for them to get caught up just from purchases. This isn't even taking into account other expenses n shyt, but that's what I meant when I said after seeing that footage I wouldn't immediately disbelieve he may have cash flow problems.