Manny Pacquiao’s big spending packs a punch
When Manny Pacquiao started his boxing career at 106 pounds in a division largely overlooked by the general population, few would have pitched the fast-handed Filipino puncher to go on to become one of sports’ highest paid athletes as he climbed weight divisions and the pound-for-pound rankings.
The boxing megastar is worth $190 million and commands at least $20 million a fight. For his megafight against Floyd Mayweather on May 2 last year, he earned well over $100 million — in the highest grossing sports event in history. Not bad for a kid who grew up in poverty selling cigarettes to make ends meet.
Though Pacquiao is known as a peoples’ champion, and doesn’t squander his money in flashy and elaborate ways like his nemesis Mayweather; he does spend his money in some bizarrely emphatic and altruistic ways. Paying for funerals for his less fortunate compatriots is quite the norm; as are the queues of people who knock on his door asking for handouts, which they often receive.
Then there’s his 900 strong entourage that he willingly jets around with him, and his absurdly large charitable donations — reportedly half of his earnings from his megafight last year — which could mean up to $50 million. So it’s hard to imagine him settling into a retirement not fraught with financial issues if his spending habits aren’t better looked after.
He also spent $4 million on tickets for his 900-strong entourage so that they could be at his May 2 fight.
When he fought Miguel Cotto in one of his career-best performances, he took a handsome sum of $35 million, the same figure he took for bludgeoning boxing cheat Antonio Margarita (who frankly deserved all the punishment he took). That should at least cover his costs of the oddly large company he keeps.
Last year Pacquiao splashed $12.5 million on a pretty lavish home in Beverly Hills, where he may just be able to fit some of his crew on the 10,000 square foot plot that where his mansion is situated. Considering he earned $2.5 million in sponsorship for wearing brand logos on his shorts whilst fighting Mayweather; well, that would’ve paid at least 1/6th of that cost. Not bad work if you can get it.
Pacquiao is set to meet Timothy Bradley in his next fight in a rubber-match few are interested in watching, and yet, he’ll still pocket a $20 million or more for beating the man he’s defeated once already, and also suffered a highly controversial loss to in their first meeting. Basically, a fight he also won.
This meeting with Bradley is set to be Pacquiao’s last fight, before he sails off into retirement. But judging by how easily money makes its departure from Pacquiao’s pockets, and with political campaigns to run in his home country — don’t be surprised if we see more of Pacquiao after his retirement. It’ll most likely be the taxman who prompts him to put on his gloves one more time.