Floyd Mayweather Gets Investment Advice from Warren Buffett What to Do With Millions
By Vittorio Hernandez | August 28, 2014 9:31 AM EST
Followers of unbeaten American boxer Floyd Mayweather Jr are used by now to seeing video and photo posts of the champ showing off his latest purchase of diamonds, watches, cars and other luxury items for himself and girlfriend Doralee "Bad" Medina. He has also posted shots of himself with 8-digit checks or a bag full of cold cash, giving the impression that Money May is flaunting his wealth amid criticisms that he is an uneducated millionaire.
With his new investment adviser, Mayweather would perhaps also post some day of himself holding stock certificate as a result of his taking in investment guru Warren Buffett as part of his Money Team. Business Insider published the photo of the investment and sports icons that Mayweather has posted on Instagram showing the two like they are about to rumble on the ring.
Another image had Mr Buffett wearing a Money Team cap. This photo had the caption: "I had a great meeting with the $66.9 billion dollar man, Mr. Warren Buffett. We talked about how we could turn a $100 million of my assets to $1 billion. Mr. Warren Buffett is the original founder of The Money Team, he's just one of my billionaire buddies."
Buffett would certainly be a big asset to the team to provide Mayweather investment education on where to spend his fortune. The 37-year-old boxer who was born to poverty has earned an estimated $400 million in his professional career. Forbes magazine, which listed Mayweather as the top-earning athlete for 2014, dislodging golfer Tiger Woods, estimated that the retiring pugilist earned $105 million the past 12 months for two bouts against Canelo Alvarez and Marcos Maidana that lasted a total of only 72 minutes.
With Buffett's golden hands that made a lot of money for the companies he run under flagship Berkshire Hathaway, expect Mayweather's wealth to further grow as well as more posts on Instagram, perhaps holding stock certificates of Canadian coffee-and-doughnut chain Tim Hortons. Buffett provided Burger King $3 billion financing to acquire Tim Hortons, which will provide the 83-year-old billionaire a 9 per cent return on cash.
Mayweather's rubbing elbows with Buffett represents an upgrade in the company the boxer keeps, from misbehaving kids like Canadian pop star Justin Bieber to a man the financing world looks up to on how to become wealthier.
But one Mayweather follower named dahykyfe reacted to the Instagram photo with the nasty comment: "Who care about money its funny cos you can't read haha." But another follower named jdlugs was more encouraging, saying, "@floydmayweather this is what big boiz do. Let @50cent run is mouth like landslide while you team up with warren and make more doe."
Perhaps it would also dispel the criticism from detractors like rapper 50 Cent that he is uneducated since he would be getting the soundest financial advice from the best investment guru in the world.
Maybe Buffet could also reach out to Mayweather's rival, Filipino champ Manny Pacquiao, and teach the congressman how to handle his tax woes and it is worth buying a $585,000 gold Rolex watch that could easily be left behind in a hotel restroom.
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