Former world champion Floyd Mayweather is back in the headlines for a huge purchase. This time, the undefeated boxing legend has splurged an eye-watering $402 million into his already burgeoning real estate portfolio. The five-division champion seems to have entered into a contract with Josh Gotlib of Black Spruce Management, paying $402 million for a 1,000-unit affordable housing project.

It consists of upwards of 60 buildings, per several sources with knowledge of the deal. The properties are concentrated in Upper Manhattan of New York and the deal is said to be one of the city’s biggest deals this year. More importantly, the transfer of assets is happening in a couple of stages, with the first one done on Wednesday.  

The remaining part of the deal is expected to be completed by the end of the fourth quarter, which ends in December, or early in 2025. Mayweather, who came from nothing, expressed his thoughts about the investment, stating, “This purchase holds deep emotional significance for me and my family.” 

Floyd Mayweather recently added another victory to his career, defeating John Gotti III in an exhibition bout in Mexico City. As with his previous exhibitions against social media stars, ‘Money’ emerged victorious and pocketed millions in the process. However, beyond the ring, Mayweather’s latest real estate deal is just one of many savvy investments contributing to his impressive portfolio.

Known for his business acumen, Mayweather has built a vast and diverse real estate empire, solidifying his reputation not only as a boxing legend but also as a shrewd investor. Alongside his new purchase, Mayweather has previously invested in nine skyscrapers alongside office giant SL Green and is part of their casino bid in Times Square.

That being said, real estate has been Mayweather’s most trusted form of investment—in fact, it was his first. 

Floyd Mayweather on his first-ever investment 

Most people know Mayweather as the richest boxer in the game, but few know how the living legend got there. Behind his flashy and luxurious lifestyle, Mayweather has made significant strides in the world of real estate. In an interview with Grant Cardone back in 2022, the unbeaten boxer revealed his first investment was in commercial real estate. 

“My first investment was real estate… commercial real estate. Huge, um, skyscrapers actually,” he shared, demonstrating his early commitment to building generational wealth. “I looked at certain athletes’ careers and said, I don’t want to end up like that,” he reflected, alluding to the financial pitfalls that often plague retired athletes.

So, what’s his secret? Simply by focusing on large-scale, income-generating assets, Mayweather established himself as a master of the sector, who is in it for the long term. “I believe in creating generational wealth,” he emphasized, highlighting his vision beyond the sport of boxing. 

With each passing year, Floyd Mayweather seems to be expanding his business empire. His latest investment revealed the commitment he has to be successful beyond what he is best known for. Regardless, what are your thoughts on the matter?