In the last couple of years, we have seen Canelo Alvarez net worth rapidly increase, gradually staking his claim as boxing’s newest superstar.
After winning the WBO light heavyweight title in 2019, it is obvious that he is one of the biggest names in boxing right now.
The Mexican boxer has tried his hands in a variety of weight classes. He has thrown his hat in the ring for light middleweight, middleweight, super middleweight, and light heavyweight competitions.
Having won major world titles in all of these divisions, Alvarez has shown his mettle as a versatile fighter.
So, it is not a surprise that every bout involving the 29-year-old also concerns a lucrative financial incentive.
Alvarez, who had signed a massive $365m deal with DAZN in 2018, has accumulated enormous wealth through sponsorship and fight purses.
In today’s piece, we will highlight Canelo Alvarez net worth and his career progression that led to his ravishing fortunes.
What Is Canelo Alvarez’s Real Name?
Santos Saul Alvarez Barragan is the real name of Canelo Alvarez. The name “Canelo” came from “canelito”, which means “little cinnamon”. His fiery red hair earned him the nickname “Canelito”.
Alvarez’s trainer Jose Reynoso rephrased it to Canelo. At that time, Alvarez was only 12 years old.
The name has stuck ever since and proved to be a successful branding strategy for the Mexican.
It might sound hard to believe now, but growing up, Canelo Alvarez was a victim of bullying. Alvarez grew up in Juanacatlan, Jalisco. He used to help his father sell fruit drinks and ice-cream in the streets.
Perhaps, the hardship in early life had forged him as a true fighter and inspired him to take upon the path of professional boxing.
Through perseverance and dedication, he managed to turn his childhood dream into reality.
A few days after his 15th birthday, Alvarez entered the ring as a professional boxer for the first time.
It was a 2005 event at Chololo Larios Arena, Tonala. He knocked out his opponent Abraham Gonzale in the fourth round, signaling the start of a successful career.
Before turning professional, the Guadalajara born set the amateur scene alight.
He started fighting in 2003, when he was 13 years old, following the footsteps of his elder brother Rigoberto Alvarez, who had made his professional debut that year.
The next year Canelo Alvarez won the silver medal in the Junior Mexico National Championship. In 2005, he finished the tournament as the champion.
Canelo Alvarez Professional Career
Following his 2005 debut, Canelo Alvarez has proven himself across multiple weight categories.
He represents the elite class of boxers who had the honour of becoming quadruple champions.
Alvarez has participated in 56 fights and has tasted defeat only once. He won 53 and settled for a draw on the other two occasions.
Canelo Alvarez Career Earnings
It didn’t take long for the boxing world to recognize Canelo Alvarez as the next big thing.
Therefore, the two time WBC middleweight champion has been earning top dollar for his fights.
Putting things into perspective, Alvarez earned a massive $50m in guaranteed purse money from his last two bouts.
In his future fights, this amount could rise up to $35m guaranteed purse money per event.
|Opponents||Guaranteed Purse||PPV Revenue Share||Endorsements Earnings||Result||Year|
|Kermit Cintron||$1 million||N/A||N/A||Win||2011|
|Shane Mosley||$1.5 million||N/A||N/A||Win||2012|
|Josesito Lopez||$1.2 million||N/A||N/A||Win||2012|
|Austin Trout||$1 million||N/A||N/A||Win||2013|
|Floyd Mayweather Jr||$5 million||N/A||N/A||Lost||2013|
|Erislandy Lara||$3 million||70%||$500,000||Win||2014|
|James Kirkland||$3.5 million||60%||N/A||Win||2015|
|Miguel Cotto||$5 million||40%||N/A||Win||2015|
|Amir Khan||$20 million||60%||$1.5 million||Win||2016|
|Liam Smith||$5 million||N/A||N/A||Win||2016|
|Julio Cesar Chavez Jr||$3.5 million||60%||N/A||Win||2017|
|Gennady Golovkin||$5 million||50%||$2.5 million||Draw||2017|
|Gennady Golovkin||$5 million||60%||N/A||Win||2018|
|Rocky Fielding||$15 million||60%||N/A||Win||2018|
|Daniel Jacobs||$25 million||60%||N/A||Win||2019|
|Sergey Kovalev||$25 million||60%||$2.5 million||Win||2019|
Canelo Alvarez Endorsements
Given the success he has enjoyed, it’s no surprise that Canelo Alvarez is one of the most marketable names in boxing.
He has endorsement deals with the likes of Under Armour and Everlast.
He uses Everlast gloves but his boxing shorts are manufactured by Under Armour. Roger Dubuis, Tecate, Hennessy, Coppe, and Value Grupo Financiero are the other brands and companies he represents.
Forbes reports, he earned $2m in endorsement revenue in 2019.
Canelo Alvarez Net Worth 2020
Celebrity Net Worth estimates Canelo Alvarez net worth 2020 as $140m. In October 2018, the boxer put pen on paper to finalize a contract with DAZN. The deal promises $365 in earnings over its five-year duration.
At the time of signing, it was the largest commercial deal ever signed by a professional athlete.
Major League Baseball side Los Angeles Angels beat that amount when they offered their star center fielder a mouth-watering $430m contract in 2019.
However, it is a 12 year contract, so if you consider the earnings per year ratio, Canelo Alvarez’s DAZN deal still comes on top.
Trout makes $35.8m a year while Alvarez pockets more than double of that sum ($73m) annually.
Canelo Alvarez House
After selling his San Diego mansion in 2015, Canelo Alvarez moved to his birthplace Guadalajara.
Alvarez is a very secretive person and has never revealed any details of his current residence publicly.
His previous house, which he sold for $6m, had a stunning view of the Pacific. It was an 11,970 square feet property with six bedrooms.
Canelo Alvarez Cars
In 2019, Alvarez spent $3m to buy a 1500 horsepower Bugatti Chiron. It is a limited edition model with only 499 counterparts around the world.
It is also the fastest automobile in the world.
He also owns a Lamborghini Aventador, a Mercedes SLS AMG, a Mercedes-Benz G63 AMG 6×6, a Lamborghini Gallardo, a McLaren P1, a Ferrari Testarossa, a Rolls Royce Ghost, a Porsche 911 GT3, and a AMG C64 biTurbo. His armada of cars costs no less than $10.6m.
Canelo Alvarez is a four-weight champion has earned millions through purse money and endorsements.
Canelo Alvarez net worth 2020 shows he is one of the richest athletes of our time.
If he continues his dominance in the ring, the expansion of his financial empire will continue as well.