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Old 05-06-2013, 01:52 PM   #46
LoRd_inFamousX1
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Default Re: Austin Trout net worth $500,000!?

The avg US income is about 55,000 dollars. So you must be joking right?
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Old 05-06-2013, 01:55 PM   #47
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Default Re: Austin Trout net worth $500,000!?

That's a lot considering he's only fought two top 10 fighters in non-PPV's.

What fanbase does he bring? How many PPV's has he been in either on the undercard or main event? Can he sell out an arena with a nobody?
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Old 05-06-2013, 02:13 PM   #48
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Default Re: Austin Trout net worth $500,000!?

he was antonio margaritos sparring partner not long ago. the guy is doing good. he is a very smart guy, all his stuff is probably paid for and he lives modestly. he boxes for a living. very few guys in the u.s make a million dollars per pay check
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Old 05-06-2013, 02:15 PM   #49
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Default Re: Austin Trout net worth $500,000!?

Considering boxers get their earnings while they're young, and then who knows what they can do after it's over and there bodies are worn down. It's not a heck of a lot, but it could be worse.
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Old 05-06-2013, 02:19 PM   #50
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Default Re: Austin Trout net worth $500,000!?

Wondering if the thread starter, or the celebrity website knows the way to correctly tabulate net worth. I'm thinking that's not likely.

I work as a Loan Consultant for a well known mortgage bank. Most applicants have a negative net worth of several times their annual income. Considering a professional athlete will seek tax advantages by maintaining high liabilities, a positive net worth at his age is substantial.
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Old 05-06-2013, 02:44 PM   #51
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Default Re: Austin Trout net worth $500,000!?

Net worth includes everything he owns so if he owns a house/a business/a yacht that is included, its the collective wealth. It doesn't mean he has 500k sat in the bank.
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Old 05-06-2013, 02:56 PM   #52
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Default Re: Austin Trout net worth $500,000!?

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Originally Posted by nick6 View Post
Net worth includes everything he owns so if he owns a house/a business/a yacht that is included, its the collective wealth. It doesn't mean he has 500k sat in the bank.
It also factors in all of his liabilities. So, owning a $500k home with a $350k mortgage does not create a net worth of $500k.

Owning a car with a payment is a liability, not an asset. Same with negative equity on a home that is underwater.

The valuation of investment accounts is also different. Typically, only 60% of the account's value is used if the account is a 401k or stock account. The ratio can sometimes be higher if the account is a post tax contribution like an IRA.

So, if he has $150,000 in equity in his home, plus $500k in a retirement account, plus $100k in the bank minus two cars with $50 total owed on them, then he has a net worth of $500k for banking purposes.
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Old 05-06-2013, 03:37 PM   #53
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Default Re: Austin Trout net worth $500,000!?

Prime example of the sad state of how fighters are exploited
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Old 05-06-2013, 03:45 PM   #54
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Default Re: Austin Trout net worth $500,000!?

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Originally Posted by LoRd_inFamousX1 View Post
The avg US income is about 55,000 dollars. So you must be joking right?
that would be the US average household income
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Old 05-06-2013, 03:49 PM   #55
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Default Re: Austin Trout net worth $500,000!?

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Originally Posted by Slyk View Post
That seems low considering he just fought Cotto/Canelo back to back.

There isn't much money to be made in boxing.
Compare that to your 9-5 job. How much are you worth after years of working?
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Old 05-06-2013, 03:51 PM   #56
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Default Re: Austin Trout net worth $500,000!?

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Originally Posted by xRedx View Post
Thats alot of money. He can keep the house he already has and raise his children pretty well given he keeps bringing in decent purses and fights 3-4 times a year.
That woman he has will probably get all the $500k in a settlement and leave him legal bills of another $500k.
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Old 05-06-2013, 04:46 PM   #57
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Default Re: Austin Trout net worth $500,000!?

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Originally Posted by zetsui View Post
This. Especially after giving up what it takes to get there (his mind, body, a future education).

500k is something alumni from my school would make. I went to a top 10 undergrad where kids before 2009 were making $250k+ as 22 year old college graduate as investment banking analysts.

What firm does these kids work for?
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Old 05-06-2013, 04:48 PM   #58
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Default Re: Austin Trout net worth $500,000!?

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Originally Posted by kommieforniaglo View Post
Prime example of the sad state of how fighters are exploited

Not Mr. Haymon's fighters. They know whats up!
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Old 05-07-2013, 12:21 AM   #59
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Default Re: Austin Trout net worth $500,000!?

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Originally Posted by Flyers2001 View Post
What firm does these kids work for?
Morgan Stanley Goldman Barclays
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Old 05-07-2013, 12:33 AM   #60
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Default Re: Austin Trout net worth $500,000!?

Hiw is Mundine is worth 30 millionm?
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