Saúl “Canelo” Álvarez, a Mexican boxing superstar, is one of the most recognizable and financially successful athletes globally. As of 2024, his estimated net worth is approximately $250 million, a reflection of his long-standing dominance in the sport and his savvy business ventures outside the ring. His financial achievements are the culmination of lucrative fight purses, significant pay-per-view revenue shares, strategic endorsements, and various business endeavors. Canelo’s story is not just one of raw boxing talent but also of shrewd career management and entrepreneurial instincts.
Born on July 18, 1990, in the outskirts of Guadalajara, Mexico, Saúl Álvarez, known as “Canelo” due to his red hair, started his career from humble beginnings. Growing up in a large family, where all his brothers were involved in boxing, Canelo followed suit, debuting as an amateur at the age of 13. His amateur career was short but impressive, with him quickly making a name for himself in Mexican boxing circles. By 15, he had already turned professional due to the difficulty of finding opponents willing to face him in the amateur ranks. This early start proved advantageous as it allowed him to build his record and reputation, leading to significant opportunities as he developed.
Canelo’s net worth is largely a result of his success in the ring, where he has consistently fought—and defeated—some of the best in the sport. His journey to the top started with a string of victories in the welterweight and light-middleweight divisions, which earned him his first world title at a young age. However, it was his rise through the middleweight and super-middleweight divisions that cemented his place among boxing’s elite. Over his career, he has won multiple world championships in four different weight classes, a feat few boxers have achieved. His fighting style, characterized by powerful counterpunching and a devastating body attack, combined with his head movement and ability to set traps for opponents, has made him a feared and respected figure in the sport.
In 2013, Canelo suffered his first major career setback when he faced Floyd Mayweather Jr. in a highly anticipated match. Although Canelo lost by decision, the fight was a turning point in his career, both financially and professionally. His earnings from the Mayweather fight were substantial—around $12 million—but more importantly, it raised his profile significantly on the global stage. The loss did not deter him; instead, it became a learning experience. Following the defeat, he embarked on a remarkable winning streak, which included victories over top-tier opponents like Miguel Cotto, Amir Khan, and Julio César Chávez Jr., among others.
One of the most significant moments in Canelo’s career came in 2017 when he faced Gennady Golovkin (GGG) in a much-anticipated fight. The bout ended in a controversial draw, but it generated massive interest and revenue, with Canelo reportedly earning $40 million from the fight. A rematch in 2018 resulted in another close contest, with Canelo emerging victorious, albeit amid further controversy. These two bouts against GGG are among the highest-grossing events in boxing history, contributing substantially to Canelo’s wealth. By this point, his career earnings were already in the hundreds of millions.
Canelo’s financial success, however, is not solely tied to his performances in the ring. His business acumen has played a critical role in building his fortune. In 2018, he signed a record-breaking five-year, $365 million contract with Oscar De La Hoya’s Golden Boy Promotions and the sports streaming platform DAZN. The deal covered 11 fights and was one of the most lucrative contracts in sports history. This agreement, which included significant pay-per-view revenue shares, further boosted his earnings, as he earned between $30 and $65 million per fight during this period. However, the deal eventually broke down, leading to a legal dispute between Canelo and Golden Boy Promotions. Despite this, Canelo continued to thrive financially, securing big paydays for subsequent fights.
Beyond boxing, Canelo has diversified his income streams through various business ventures. He has been selective with his endorsement deals, choosing to partner with brands that align with his personal values and image. One of his most notable endorsement deals is with Anheuser-Busch, the American beer giant, which reportedly pays him $2 million annually. Additionally, Canelo has launched several businesses, including a chain of gas stations called Canelo Energy and a line of convenience stores under the brand Upper. In 2023, he introduced VMC, a canned tequila-based cocktail, and Yaoca, a sports drink company. These ventures are not only profitable but also reflective of his strong ties to his Mexican heritage and his desire to build an empire beyond his boxing career.
Canelo’s wealth also extends into real estate and luxury goods. He owns multiple properties, including a lavish residence in Guadalajara and a home in San Diego, California. His love for luxury cars is well-documented, and his collection includes high-end models from Ferrari, Lamborghini, and Rolls-Royce. He also reportedly owns a private jet, valued at around $60 million, further underscoring his status as one of the wealthiest athletes in the world.
Despite his wealth and success, Canelo has not been without controversy. In 2018, he tested positive for a banned substance, resulting in a six-month suspension. While Canelo maintained that the positive test was due to contaminated meat, the incident tarnished his reputation temporarily. Additionally, his selection of opponents has sometimes drawn criticism, with some fans and analysts arguing that he has avoided certain fighters or taken on easier challenges at times. Nonetheless, Canelo’s legacy as one of the greatest boxers of his generation remains intact, and his financial success speaks for itself.
In 2024, Canelo continued to add to his legacy and fortune with a unanimous decision victory over Edgar Berlanga. The fight, which took place in September 2024, was another major payday for Canelo, with his guaranteed purse reported to be $35 million. Including pay-per-view earnings, his total income from the fight could reach as high as $65 million. This victory further solidified his position as the king of the super middleweight division, where he holds multiple world titles. Looking ahead, there is speculation about a potential rematch with Dmitry Bivol in 2025, which would offer Canelo a chance to avenge his 2022 loss to Bivol. Additionally, a superfight with Terence Crawford has been rumored, a matchup that would undoubtedly generate massive financial rewards for both fighters.
Canelo’s financial achievements are not only a testament to his skill in the ring but also to his ability to leverage his success into long-term wealth. With career earnings exceeding $600 million before taxes and a growing portfolio of business ventures, he has established himself as a savvy businessman as well as a legendary athlete. His journey from a young amateur in Guadalajara to a global superstar and multimillionaire is a story of hard work, dedication, and strategic decision-making.
As Canelo moves forward in his career, his net worth is likely to continue growing, especially if he continues to take on high-profile opponents and expand his business interests. With his prime years still ahead, both in terms of boxing and business, Canelo Álvarez is poised to further cement his legacy as one of the greatest boxers and wealthiest athletes of all time. His financial empire, like his career, shows no signs of slowing down.