Manny Pacquiao, known for boxing, is also the richest basketball player in the Philippines, with a net worth exceeding $200 million, largely from boxing and endorsements.
Manny Pacquiao
Manny Pacquiao’s financial side is as exciting as the boxing from a street kid to the Philippines’ richest basketball player. His financial empire goes beyond the boxing ring as numerous business pursuits, sports events, and endorsements have made quite a substantial contribution to his richest basketball player status. The discussion explains how the celebrity makes his money.
Earnings from Boxing
Indeed, the boxing ring proved to be a source of substantial income for Manny and his entourage. It is estimated that Pacquiao has earned over $500 million from boxing alone over his career. His final in 2015 with Floyd Mayweather Jr. dubbed “Fight of the Century” finally brought 120 mln. to his wealth. This fight set records for pay-per-view buys and gate receipts showing that the “pound for pound” king can generate cash better than anybody else.
Basketball Ventures
Surprisingly for many, Manny decided to accept the challenge of Filipino national sports basketball. He played as a player-coach and even owned a PBA team, first the Mahindra Enforcer, then Kia Sorento. The basketball is not a main source of income like boxing, but this venture is a loving opportunity for the celebrity to stay in touch with his favorite team and influence the sport development.
Endorsement Deals
The global acknowledgement of the boxer opened numerous endorsement opportunities. Manny appeared on T.V. commercials advertising friends with the likes of Nike, Hennessy, and San Miguel Beer. Each endorsement is worth 1 mln. to 5 mln. depending on individual terms of the agreement and the time on air.
Business Ventures
The legendary boxer has made substantial investments into real estate, restaurants, and entertainment. He owns some dozen commercial properties in the Philippines and other stable businesses that remained confidential. His business philosophy is based on diversification. Historic examples of celebrities like the Beatles financially appear to be unhappy as they made substantial investments in booming spheres while diversified investments provide Manny with a much more reliable financial source.
DP cites Business Insider and Celebrity Net Worth that a big part of his wealth goes to his generosity to his hometown investing into education, medical, and housing projects, which does not contribute to the process of wealth accumulation directly but rather maintains his popularity and marketability. Being a senator in the Republic of the Philippines, his political career most likely did not bring a direct significant contribution to his wealth; however, the political post certainly extended his connections and ability to take care of some of the business and investment challenges.
Basketball and Boxing Careers
Manny Pacquiao’s engagement in both basketball and boxing illustrates both his athletic well-roundedness and personal preferences to some extent. Clearly, it was his career as a boxer that brought him international fame and financial rewards, but he also got engaged in basketball as part of his broader exposure to the Filipino culture and sports. On the one hand, boxing stands out of two for its extraordinary success. According to FactSite, Pacquiao has contested in 72 professional rounds, securing 62 wins, out of which 39 were KO’s. His fights are international events that generate hundreds of millions of dollars. His bout against Mayweather back in 2015 is a confirmation:
Pacquiao has a shares of 4.6 million cute orders, equivalent to a gross domestic product of 410 million dollars.
Unlike in other fields, Pacquiao has won titles in eight different divisions, thus maximising his asset and net worth. On the other hand, basketball is special in that regard that Pacquiao, only 5’5” becomes part of the Philippine association of basketball:
On August 24, 2014, Pacquiao was established in the draft 2014 PBA draft as the first pick or eleventh in the first round of the Cia Motors team.
Not having the talent for dunk shots or rebounding, he still boosts ticket sales and TV ratings. However, according to CNBS, compared to $ 20 million per game on average a much smaller branch of basketball, at $ 120 million on average in the fight against Mayweather in 2016.
My thoughts about each of the opportunities have not changed. Boxer stands out among other events in his career, providing him with his current assets and net worth. The basketball player can generate additional income for his local team. Boxer is a perfect meme in the Filipino community, serving to unite overseas Filipinos in Western Europe and the United States around the same cheering. In basketball, his iambs are rather hypocritical – far from the desire to take leadership and address existing problems with his physical fitness and basketball talents beyond his power.
Endorsements and Business Ventures
Manny Pacquiao’s position as a worldwide sports icon has allowed him to acquire a multitude of high-paying endorsements and partake in a multitude of business opportunities that expand his sphere of influence and wealth beyond the boxing ring. His considerations when planning his business and marketing move demonstrate a sound understanding of how to use temporary fame to achieve long-term financial stability. Additionally, his business and marketing strategies can be used to provide insights into the economic impacts of being a sports celebrity and compensate for the severe decease in funds between events.
To begin, many Eastern and Western companies particular interest in his endorsement:
Nike: as mentioned earlier, the athletic apparel manufacturer employed Pacquiao as a brand ambassador and even released his own line of shoes to him. The long-lasting deal would not have been possible unless it was one of the most lucrative, allowing Manny to earn several million annually. However, the deal was cancelled in 2016.
San Miguel Beer, which is a popular Filipino brand, employed some of its largest celebrities not only for local promotion, but as emblems of quality in markets with a high Filipino presence. It is one of several Filipino Budweisers. The star acts in the ad and uses his non-vocalizing performance to showcase his acting abilities. He will be working on beer marketing in association with film director Mike Alcazaren.
The boxer has also acted as a spokesman for a number of Hennessy, a popular French cognac brands around the world, as well as telecommunications companies and auto manufacturers from both poor nations and high-end automobile companies. Not only do the shoes reflect his personality and identity, but the considerable sum of money paid to him is also a reward. To be precise, he appreciates that his endorsement agreements as a star athlete include his identity as a humble and hard-working Filipino.
