Net Worth Ranker
What Was Muhammad Ali’s Net Worth?
At the time of his death on June 4, 2016, Muhammad Ali, the retired American boxer, had a net worth of $50 million. This figure reflects his earnings from a career that saw him become one of the highest-paid athletes in the world during his prime.
Muhammad Ali’s Early Life and Career Beginnings
Born Cassius Marcellus Clay, Jr. on January 17, 1942, in Louisville, Kentucky, Muhammad Ali grew up in humble circumstances. The Clay family resided in Louisville, where his father, Cassius Marcellus Clay Sr., worked as a billboard painter. His mother, Odessa O’Grady Clay, was a homemaker who cared for Cassius and his younger brother. Ali attended Central High School in Louisville, navigating the challenges of a learning disorder. His early exposure to racial segregation significantly shaped his worldview, including an incident where he was denied water at a store, highlighting the racial injustices prevalent during his youth. The 1955 murder of Emmett Till further fueled his anger and prompted acts of protest. A pivotal moment occurred at age 12 when his bicycle was stolen, leading him to express his anger to a local police officer who encouraged him to channel it into boxing. This encounter led to his training with boxing coach Fred Stoner, marking the beginning of his path to becoming a boxing legend.
Ali began boxing at the age of 12. His early training with Fred Stoner led to winning six Kentucky Golden Gloves titles, an Amateur Athletic Junior Title, and two National Golden Gloves. He debuted in 1954 with a win against Ronnie O’Keefe. Chuck Bodak trained him for the last four years of his amateur career. His amateur record was impressive, with 100 wins and only 5 losses, culminating in a light heavyweight gold medal at the 1960 Olympics in Rome.
Muhammad Ali’s Professional Boxing Career and Earnings
Muhammad Ali’s professional boxing career began after the 1960 Olympics. He achieved an undefeated streak for three years, securing 15 knockouts out of 19 fights. He gained fame for predicting the round his opponents would fall, accurately doing so seven times. In 1964, he defeated Sonny Liston to become the youngest fighter to win the heavyweight title at age 22. In 1971, he earned $2.5 million for fighting Joe Frazier, equivalent to approximately $15 million today. In 1974, his fight against George Foreman earned him $5.45 million, which is about $26 million today. His largest career paycheck came in 1980, earning $7.9 million for fighting Larry Holmes, equivalent to around $22 million today after adjusting for inflation. In 2006, Ali reportedly sold the rights to his name and image for $50 million, retaining a 20% interest in licensing, generating $7 million in annual revenue. Throughout his career, Ali’s earnings reflected not only his success in the ring but also his growing influence as a cultural icon.
In 1966, Muhammad Ali refused military draft, citing religious beliefs and opposition to the Vietnam War. This act led to his arrest and conviction for draft evasion, stripping him of his boxing titles. However, the Supreme Court overturned his conviction in 1971. In 1970, he received the Martin Luther King Award. On March 8th, he fought Joe Frazier in what was dubbed “The Fight of the Century.” The fight lasted 15 rounds, with Frazier winning, marking Ali’s first professional loss. He later fought Frazier two more times, winning the second fight, which set up a match against George Foreman, known as “The Rumble in the Jungle,” held in Kinshasa, Zaire. Ali defeated Foreman to regain the heavyweight title.
Muhammad Ali’s Career Earnings and Financial Ventures
While Gene Tunney was the first boxer to earn $1 million for a fight in 1927 against Jack Dempsey, Muhammad Ali significantly raised the bar for fighter compensation. In 1971, his fight against Joe Frazier earned him $2.5 million, equivalent to $15 million today. In 1974, he made $5.45 million fighting George Foreman, which equates to approximately $26 million in today’s currency. His highest single payday was in 1980, earning $7.9 million for fighting Larry Holmes. In 2006, Ali reportedly sold the rights to his name and image for $50 million while keeping 20% ownership, generating $7 million in yearly revenue.
Muhammad Ali’s financial strategy involved selling the rights to his name and likeness. In 2006, he sold these rights for a reported $50 million. However, he retained a 20% stake in the licensing, which continued to generate approximately $7 million in annual revenue. This deal ensured that his legacy and image would continue to provide income for his estate.
Muhammad Ali’s Personal Life and Family
Ali was married four times throughout his life. His first marriage was to Sonji Roi in August 1964, ending in divorce in January 1966. He then married Belinda Boyd in August 1967, and they had four children together. In 1974, he had an extramarital relationship with Wanda Bolton, resulting in two children. He married Veronica Porche in 1977, having two children before divorcing in 1986. Finally, he married Yolanda Williams, a long-time friend, in 1986, and they adopted a son. Ali’s daughter, Laila, followed in his footsteps, becoming a professional boxer from 1999 to 2007.
Muhammad Ali passed away on June 4, 2016, at the age of 74, due to septic shock in Scottsdale, Arizona. His memorial service was attended by numerous sports figures and celebrities and viewed by approximately 1 billion people globally. Despite his health challenges, Ali remained an influential figure, remembered for his impact on sports, civil rights, and humanitarian efforts.
