How Much Is Canelo Alvarez Net Worth?
Saul Alvarez, also known as “Canelo,” is a Mexican boxing prodigy in the Light Middleweight division with an impressive net worth of $200 million. He is widely regarded as the best pound-for-pound boxer in the sport and has achieved multiple world championships in four weight classes.
Canelo’s career highlights include victories in the WBC, WBA (Super), and Ring magazine titles. He secured a groundbreaking 5-year, $365 million fight contract with DAZN, which has contributed to his growing wealth. Between June 2018 and June 2021, Canelo earned over $225 million from his boxing empire.
With his unique boxing style and business ventures, Canelo continues to increase his net worth. Let’s delve into the details of his career earnings, business empire, and the challenges he has faced along the way.
Career Earnings and Business Empire
Canelo Alvarez’s career earnings have been exceptional, accumulating an estimated $600 million before taxes. His success in the ring has resulted in significant purses, such as a $40 million purse from the Gennady Golovkin I fight and a $30 million purse from the Gennady Golovkin II fight. However, Canelo’s financial ventures extend beyond boxing.
Alongside his boxing career, Canelo has built a thriving business empire. He is the proud owner of “Canelo Energy,” a chain of gas stations catering to motorists nationwide. Additionally, Canelo has ventured into the convenience store industry with his chain of stores called “Upper.” These business ventures not only generate additional income but also contribute to his overall net worth.
Furthermore, Canelo has successfully entered the beverage market with his own tequila-based canned cocktail called VMC. This product has gained popularity among consumers, further expanding his entrepreneurial endeavors. Not stopping there, Canelo has also launched a sports drink company known as Yaoca, providing athletes with a refreshing and hydrating option during workouts and competitions.
With a diverse range of business ventures, including gas stations, convenience stores, and beverage brands, Canelo showcases his entrepreneurial spirit alongside his boxing prowess. These ventures contribute significantly to his growing net worth and cement his position as not only a boxing superstar but also a successful businessman.
DAZN Deal and Lawsuit
In 2018, Canelo Alvarez entered into a groundbreaking 5-year, $365 million fight contract with DAZN, one of the world’s leading sports streaming platforms. This deal not only guaranteed that Canelo’s next ten fights would be broadcast exclusively through DAZN but also played a significant role in boosting his earnings.
However, what was supposed to be a fruitful partnership turned into a legal battle. Canelo found himself embroiled in a breach of contract lawsuit, seeking $280 million in damages from DAZN, along with Golden Boy Promotions and its CEO, Oscar De La Hoya. The lawsuit stemmed from disagreements surrounding opponent selection and compensation.
Despite the challenges presented by the lawsuit, Canelo has managed to maintain his popularity and secure lucrative endorsement deals. One notable endorsement came in the form of a major sponsorship with Anheuser-Busch, the beverage giant. These lucrative endorsements, combined with Canelo’s remarkable boxing career, have contributed significantly to his overall net worth.
It is evident that while the DAZN deal led to unfortunate legal disputes, Canelo’s ability to attract valuable endorsements demonstrates his enduring appeal to fans and brands alike. In the next section, we will delve further into his career earnings and expanding business interests.
