It's because of the predatory taxes set by the state/laws. For a simple example, you're old and retired with comorbidities, you own a house in the city, say even inherited from your parents, guess what, you still have to pay real property taxes besides water and electricity bills. You have no rest. Very easy money for the corrupt people in the government. You automatically lose the property and they automatically get it easily after failure to pay it. Of course boxers like them have way different expenses. You can't even live by yourself free from problems.
It depends, some 100% just need money, Joe Louis stayed in game too long for money, so did Ali and countless other fighters. However, I think some are just addicted to fighting and can't sit with the "What if" of going back into the ring. Larry Holmes would be a good example of that. He was rich and still went back to fight Tyson and then to secure a couple more title shots.
Floyd most likely doesn't even control his own money, he's very closely ifilated with a certain community as well. Always found it strange how he has such a large platform and audience, he has a boring personality, is low intelligence, and even as a boxer he's boring and a very small man, so it's not like there is the heavyweight hardest man alive appeal. He's probably very controlled.
1. Money 2. They are boxers, that is what they are known for, that is what they know themselves for! It is part of their identity, they will always have an urge to return to it. Old habits die hard as they say
Money, sometimes, yes. Boxing has been their primary income and career, what they were good at and how they know to earn cash. But wider, I think some just can't let it go. Boxing has been the life of these fighters since were kids. It surrounds them. They live and breath it. The adulation is addictive. And when they start losing they HAVE to believe in themselves that they can get the glory days back. Because that's how they got there in the first place. All of it becomes a vicious cycle. I think the ones who successfully retire are the ones who genuinely fall out of love with the sport - or who find something else to fill the void. But it's no coincidence that so many fighter struggle greatly when it's over.
My theory that explains at least part of it: you don't feel old as you get older, until you get into a fight with a younger dude. About ten years ago I threw hands with some kiddie and his dad. The dad was no sweat but Junior moved like Neo in the ****ing matrix. It was like in dreams where you try punch somebody and it takes about five seconds for you to touch anything, if ever. Meanwhile his punches were like some speedster from an anime I was never the fastest dude but that was laughable.
OP proves the vast majority of the population absolutely has no idea HOW much money a million dollars; let alone a billion is. A homeowner with the place paid off, and a vehicle or 2 paid off with "just" 3 million liquid in the bank is actually ludicrously rich. like top 0.1% in the world rich. that being said, I am richer than floyd's dumbass. im probably one of the first to call out he's broke (been about 3 years. you can just tell when he goes from posting million dollar QUARTER AND HALF TIME BETS on march madness games to 10k for the super bowl ROFL) his net worth is negative lol.
How in the hell can Floyd be broke though? Surely he’s made so much money and has such a profile that he’s never going to be truly broke?
brother. going broke has no limits. a few bad decisions coupled with a high maintenance lifestyle, anyone can lose all their money. Tyson quite literally had 200 mill liquid when released from prison and blew through that WHILE fighting and making money. to top it off, HE DOESNT EVEN GAMBLE. think of making money as using an eye drop, cup, bucket, barrell etc, and you pour it daily into this mega large trillion gallon container. spending it is that container tipping to an extent to pour the amount of water out. 10k or 100 mill, if you gamble and buy dumb ****, it will disappear in the same amounf of time. i guarantee everyone on this site can blow through a billion within a year.
Hes not broke. He lives a billionaire lifestyle that can only be funded by a high 8 figure income. Someone like him can shill for actual financial security. But hes used to a lifestyle hes paying for with boxing money. It also seems Floyd invested in a lot of things like nightclubs and that 2000s hyper materialistic lifestyle. The average person is broke and far fewer people are doing those sort of activities Floyd placed his financial bets on. Most materialistic people are mainly interested in the appearences of living the high life for their social media followers. They aren't interested in actually living it thats expensive and exhausting. And that means Floyd and people like him aren't getting paid. The single worst thing to invest in during a time like this is things people don't really need and thats Floyds bread and butter. I'm using "materialistic" because I can't find a better word for what I'm trying to say.