Austin Trout net worth $500,000!?

The avg US income is about 55,000 dollars. So you must be joking right?:huh

 

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?

 

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

 

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.

 

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.

 

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.

 

Prime example of the sad state of how fighters are exploited

 

that would be the US average household income

 

Compare that to your 9-5 job. How much are you worth after years of working?

 

That woman he has will probably get all the $500k in a settlement and leave him legal bills of another $500k.

 

What firm does these kids work for?

 

Not Mr. Haymon's fighters. They know whats up!

 

Hiw is Mundine is worth 30 millionm?