Floyd Mayweather is not only a legendary boxer but also a savvy investor, with a recent purchase of 1,000 apartments in Manhattan valued at $402 million.
Known for his talent in the ring, Mayweather is equally recognized for his immense wealth. From luxurious mansions in Las Vegas to Miami, along with an extensive collection of cars, watches, and real estate, Mayweather continues to expand his financial empire.
Recently, he made headlines again after spending over $400 million to acquire a portfolio of apartments in New York. But what motivates a fighter who already lives in million-dollar mansions to invest in thousands of apartments?
Mayweather and His Massive Real Estate Empire
According to The Real Deal, Mayweather agreed to purchase 1,000 apartments in Manhattan, valued at an estimated $402 million. These apartments are mainly affordable housing, an area Mayweather has been interested in since his childhood. Growing up in poverty and sharing a small room with his family in New Jersey, Mayweather once shared, “When I was young, sometimes we didn’t even have electricity.”
This move has raised many questions: Why would Mayweather, who lives in extravagant mansions, purchase so many affordable apartments? Does this mean he will move into them? The answer is no.
An Investment, Not a Residence
These apartments are not for Mayweather’s personal use but rather for investment purposes. His real estate empire extends beyond luxurious homes to more sustainable sectors, such as affordable housing.
The Manhattan apartment purchase is part of his long-term investment plan. Thanks to incentives from the Article XI program, some of these properties will be tax-exempt for up to 40 years, as long as at least two-thirds of the apartments are designated as affordable housing. This smart move helps Mayweather increase profits while minimizing financial risks.
A Visionary Investor
Mayweather’s investments don’t stop at real estate. He has also invested in various other fields, including NASCAR racing, boxing gyms, and there are even rumors that he is considering buying an NBA basketball team. With his diverse portfolio and keen business sense, Mayweather has transcended his “Money Man” moniker in the ring to become a major investor.
This isn’t the first time Mayweather has stunned the public with massive real estate deals. Previously, he sold a mansion in Miami for a profit of nearly $22.5 million and listed another mansion in Las Vegas for $12.5 million. These moves show he is constantly seeking opportunities to grow his wealth.
Mayweather’s purchase of thousands of apartments isn’t for personal use, but rather a strategic step in expanding his real estate holdings. “Money Man” is not just a nickname; it reflects the outstanding business vision of this boxing champion.
