Boxing is a career in its own. It looks like violence, but it is a fortune earner for those who can withstand the blows. Oscar De La Hoya is one of the people who made boxing their chosen profession. However, the career is not a walk in the park; it requires continuous training and lots of persistence since you will lose several fights. Oscar was born on 4th February 1973 in Los Angeles, California. He came from a family of boxers, and this paved the way for him to get into boxing. After his boxing career, Oscar started participating in charity work in the US. According to Irish Boxing, he is one of the wealthiest boxers with a net worth of $200 million. Let us look at how he managed to amass all this wealth.
Oscar started his career in boxing when he was 17. He made history in the boxing world by becoming the youngest American to win a gold medal in boxing. His mother was diagnosed with cancer later and died in 1990, but her dying wish was that her son would excel in sports. The wish from his mother came to pass then in 1992 when he won the gold medal in the Olympics in Barcelona.
He later fought many other fights and was always victorious; a feat that made him famous. He managed to compete with the world’s prominent boxers such as Floyd Mayweather and Manny Pacquiao and defeated 17 world champions in his boxing career. The wins made him one of the top earners in the sport. The money he got from boxing was quite lucrative; sometimes Oscar made $40 million after fighting for just 36 minutes. This figure amounts to earning $1.1 million every minute.
With the large crowds of boxing fans, he always managed to get a lot of money through pay per view. According to Frost Now, Oscar generated $700 million in pay per view income following Floyd Mayweather and Manny Pacquiao, who were top earners. He announced his retirement in 14th April 2009 in front of his fans. Oscar said that boxing was what he came to do in this world, and when he could not do it anymore, he had to quit. According to him, it could not be fair for him and his fans when he could not be the best. The decision to retire was when Manny Pacquiao was dominating the ring, and after retiring, he ventured into other lines of business.
Oscar was not only a boxer, but he also surprised the world by the fact that he could sing. Due to his fame, most fans were longing to hear him sing and his songs always made it to the top in the playlists. He managed to release his first album in Spanish and English, and it hit the Latin dance chart. One of his songs even got a nomination for Grammy awards. Most of his songs were about his life as a boxer, while the rest was to inspire other people.
Golden Boy Promotions
When we are in love with something, life without it becomes difficult. Due to his passion for boxing, Oscar founded a company and named it Golden Boy Promotions. Golden Boy is a company that promotes boxing and martial arts. Oscar De La Hoya started this company after his statement that everything that he had in the world came from boxing; therefore, launching the company was a strategy of giving back to society. The company organizes boxing competitions and sells tickets to the people who might be interested in watching sports. Through the viewers, the company gets its income through pay per view. In some of the boxing competitions, it has been able to collect nearly $500,000 in a single event.
The company also offers training to people interested in boxing and has been a platform for their rise. It organizes boxing competitions in many parts of the United States and has also promoted other games by providing prizes that the boxers compete for in the fights. Golden Boy Promotions is based in Los Angeles and is among the well-established companies in the US.
Apart from being a boxer and a singer, Oscar also ventured into real estate. Real estate is one of the most lucrative businesses that you can venture in but requires high capital. He owns numerous million-dollar mansions in the United States. He buys homes at a low price, redesigns and then sells them at a higher price making huge profits. At some point, he purchased a house for $3.35 million in 1997 and later sold it for $5.5 million in 2002. He has assisted many of the celebrities to get their dream homes through his real estate business. Most of his mansions are the luxurious kinds, and when they are available for sale, they hit the headlines in business announcements. They get listings in the prominent advertisement sites in the US with some of them going for as high as $50 million. After his retirement from boxing, property dealings have become Oscar de la Hoya net worth significantly.
Boxing is a sport that has many fans. Whenever there is a boxing competition, people turn out in large numbers to enjoy the game either live in the venue or through the television. TV stations, therefore, make use of the boxers in some of their programs to increase their ratings. Engaging boxers is because most of the fans admire the fighters and will like to catch up with any activity that they do. Oscar made several appearances on television as we see in TV Guide. He could appear as a guest to be interviewed or sometimes played some roles in acting. He was able to make several appearances, thus boosting his income by far. In some of his appearances, companies approached him for product endorsements.