Net Worth Ranker
What Is Saúl ‘Canelo’ Álvarez Net Worth
Saúl “Canelo” Álvarez, a prominent figure in the light middleweight division of professional boxing, has accumulated a substantial net worth estimated at $250 million. His financial success is rooted in a celebrated boxing career and augmented by savvy business ventures. As a four-division world champion, Álvarez has earned recognition as one of the sport’s best pound-for-pound boxers, showcasing his prowess against a wide array of formidable opponents.
Canelo Álvarez’s Career Earnings and Financial Ventures
Álvarez’s boxing career has been incredibly lucrative. A significant portion of his wealth stems from high-profile fights and strategic endorsement deals. Between June 2018 and June 2019, his earnings reached $95 million, followed by $40 million in the subsequent year, and $90 million between June 2020 and June 2021, demonstrating his consistent earning power. By 2023, it was estimated that Canelo had earned $600 million before taxes from his boxing career and other ventures.
Specific purses from notable fights underscore his earnings trajectory:
- Sugar Shane Mosley (May 5, 2012): $1.2 million
- Josesito Lopez (September 16, 2012): $2 million plus a $100,000 knockout bonus
- Floyd Mayweather: $5 million purse, which increased to $12 million with a percentage of PPV profits
- Miguel Cotto (November 21, 2015): $5 million
- Amir Khan (May 2016): Estimated between $15 to $25 million
- Gennady Golovkin I: $40 million
- Gennady Golovkin II: $30 million, with the rematch generating over $94 million in PPV buys. He was guaranteed $25 million just to show up.
Beyond boxing, Álvarez has ventured into the business world. He owns “Canelo Energy,” a chain of gas stations in Mexico, and “Upper,” a convenience store with 20 locations. He also has a clothing line and a fitness app, expanding his financial portfolio beyond the boxing ring.
In 2023, Álvarez launched “VMC,” a canned tequila-based cocktail, and “Yaoca,” a sports drink company, further diversifying his business interests. Despite numerous endorsement opportunities, Álvarez has been selective with his partnerships. His primary endorsement deal is a $2 million per year contract with Anheuser-Busch.
Landmark Contracts and Legal Disputes of Canelo Álvarez
On October 17, 2018, Álvarez signed a 5-year, $365 million contract with Oscar De La Hoya’s Golden Boy Promotions and DAZN. This agreement covered 11 fights, beginning with his December 15, 2018, bout against Rocky Fielding. It was one of the largest sports contracts in history at the time.
The contract stipulated that DAZN would pay Golden Boy $40 million per fight, with Álvarez receiving $35 million per fight. However, in September 2020, Álvarez filed a breach of contract lawsuit against DAZN, Golden Boy Promotions, and Oscar De La Hoya, seeking $280 million in damages, plus lost sponsorship and gate revenue. This legal action arose from disagreements over Álvarez’s choice of opponents, with DAZN reportedly finding them not “premier” enough. DAZN purportedly offered Álvarez half his guaranteed $35 million purse to fight Billy Joe Saunders, an offer he rejected. Álvarez sought either to be paid the full $35 million for fighting opponents he chose or to terminate the contract to pursue fights independently.
Between June 2022 and June 2023, Álvarez earned $110 million from all sources, marking a significant period of financial success.
Early Life and Boxing Beginnings of Canelo Álvarez
Born Santos Saúl Álvarez Barragán on July 18, 1990, Álvarez grew up on the outskirts of Guadalajara before his family moved to Juanacatlan when he was five. He is the youngest of seven siblings, all raised on their family’s farm. Interestingly, all six of his brothers also pursued professional boxing careers.
Álvarez began boxing at age 13, following in his brothers’ footsteps. His amateur record was notable, winning a silver medal in the Mexican Junior Championship and a gold medal the following year at age 15. Soon after winning gold, Álvarez turned professional, making his debut at 15 because no one else wanted to fight him at the amateur level. Despite often facing older opponents, he secured numerous knockout victories. In 2006, he won the welterweight title, later moving to light middleweight, where he won the WBC silver title in 2010 and became the first boxer to knock out Carlos Baldomir that same year.
Canelo Álvarez’s Boxing Style and Major Fights
Álvarez is renowned for his counterpunching abilities, exploiting small gaps in his opponents’ defenses. He is also known for his powerful body punches, especially liver shots, and his head movement. His fighting style is characterized by intelligence and the ability to set traps for his opponents with creative combinations.
Key milestones in his professional career include:
- Winning the WBC, WBA (Super), and Ring magazine light middleweight titles in 2011.
- Securing the unified WBA (Unified), WBC, Ring, and lineal middleweight titles in 2015 after defeating Miguel Cotto. HBO reported 900,000 PPV buys, which amounted to $58 million in domestic revenue from the fight.
- Becoming the first boxer in history to unify the WBA (Super), WBC, and Ring magazine super middleweight titles in December 2020.
- Winning the WBO light heavyweight title in 2019 after moving up in weight.
A notable loss came against Floyd Mayweather in 2013. In 2016, Alvarez dropped weight to challenge Liam Smith, who held the WBO light-middleweight world title. He took the title from Smith with a devastating strike to the body. In September of 2017, the fight with Gennady Golovkin was declared equals with a split decision. Alvarez won the rematch in another controversial decision, with many media outlets and fans scoring it in Golovkin’s favor.
