Latest news with #FloydMayweatherJr.
Yahoo
07-05-2025
- Business
- Yahoo
Floyd Mayweather Jr. talks breaking into real estate: 'I work hard to build my name'
The boxing gloves are off, and Floyd Mayweather Jr. is sparring with a formidable foe: New York real estate. The boxing legend talked about his detour into real estate at The Real Deal's annual NYC Forum. He's executed hundreds of millions of dollars in deals through his firm, Vada Properties — named for his home state of Nevada. 'I've always been a risk taker,' Mayweather declared with the same confidence that defined his boxing career. 'It's paid off great thus far.' TRD's Suzannah Cavanaugh, Floyd Mayweather Jr. and Vada Properties CEO Ayal Frist (Alive Coverage) His portfolio spans several corners of real estate: retail properties, luxury rentals, the former Versace mansion and a $400 million investment in affordable housing. Working alongside business partner Ayal Frist, Mayweather focuses on strategic investments where stable cash flow and a chance at generating 'generational wealth' exist. Mayweather's real estate pivot originated with a courtside encounter at a New York Knicks game in the form of a chance meeting with real estate mogul Jeff Sutton and former SL Green president Andrew Matthias. One thing led to another and the pugilist started putting his money towards properties. 'It's time for me to get my feet wet,' Mayweather decided, initially making seven-figure investments before graduating to eight and nine-figure deals while still actively fighting. 'I was getting money from two different places.' Mayweather didn't detail how hands-on he is with Vada, but noted how he had a lot of input in the company while being sure to surround himself with smart people. One of those associations is particularly controversial; Jona Rechnitz pleaded guilty to bribing NYPD officers and has faced other legal peril. Mayweather remained steadfast in his support. TRD's Suzannah Cavanaugh, Floyd Mayweather Jr. and Vada Properties CEO Ayal Frist (Alive Coverage) 'I'm not here to judge anyone,' he stated firmly, referring to Rechnitz as 'one of the key pieces to the puzzle.' When questioned about rumors concerning his financial status, Mayweather responded with characteristic swagger, noting how nice it must be to be bankrupt with two private jets and hundreds of millions invested. Mayweather also demurred discussing recently-filed defamation lawsuit targeting reporting by Business Insider, besides pointing out that this was the first time he's sued a media outlet. 'I'm not a liar,' Mayweather said. 'I work hard to build my name and build my reputation.' Now, with his son and two daughters — both studying real estate — Mayweather isn't just building a portfolio; he's creating a real estate legacy. As his business partner Ayal observed, Mayweather 'wrote his own playbook' in real estate, just as he did in boxing. That playbook could soon include investments in multifamily and hospitality properties in the Miami-Fort Lauderdale area this year, though Ayal cautioned against going into specifics.
Yahoo
06-04-2025
- Business
- Yahoo
How to stay calm amid tariffs frenzy
This post originally appeared in the BI Today newsletter. You can sign up for Business Insider's daily newsletter here. Welcome back to our Sunday edition, where we round up some of our top stories and take you inside our newsroom. Have you ever paid attention to the luxury watches "The White Lotus" characters wear? It turns out they might be able to provide some clues into tonight's season finale. On the agenda today: Entrepreneurial young people flock to "mini private equity" as the job market stagnates. First came tech layoffs. Now there's DOGE. What's a Gen Zer to do? Floyd Mayweather Jr. bragged about a $400 million property deal. There's just one problem. "I begin spying for Deel": An ex-Rippling employee details his days of corporate espionage in Ireland court filing. But first: Stay calm. If this was forwarded to you, sign up here. Download Business Insider's app here. The headlines are scary. Stocks are cratering. The trade war is intensifying. Odds of a recession are jumping. Opening your 401(k) is disorienting. But here's the thing: Most market pros say panicking is just about the worst thing you can do right now. Think back to March 2020. The world was shutting down at the onset of the pandemic. Stocks plunged rapidly. Yet, as terrifying as that sell-off was, it proved to be short-lived. Five years later, the S&P 500 is sharply higher than it was back then (even including this year's drop). Vanguard sent a note to customers this week advising them to "resist the urge to deviate from your financial plan" amid rising uncertainty. It noted the market's best- and worst-performing days tend to occur in close succession. "Investors who have stayed the course during downturns have been able to take advantage of market recoveries and have typically come out ahead of those who moved to the sidelines," the fund manager said. Still, the impulse to take drastic measures is strong. It's human nature. My BI colleague Max Adams outlines three things investors can consider to weather the worst of the downturn: don't overreact, consider defensive stocks, and don't try to time the market. If last week taught us anything, it's that the market is not a place to park cash you might need soon. Having some investments in cash or cash equivalents, like a money market fund, is important. Things could get worse before they get better. The S&P 500 is squarely in correction territory. The Nasdaq is already in a bear market. Michael Antonelli, a market strategist for Baird Private Wealth Management, offered a viewpoint that stuck with me. He told clients not to let fear take over during these tumultuous times. "When uncertainty reigns, your reaction to it determines your success or failure," he wrote to clients. "Hunkering down and waiting for a storm to pass is sometimes the correct course of action." How are you navigating the markets? I'd love to hear from you, drop me a line at today@ Well, it's not exactly private equity. MBAs and young professionals are setting their sights on search funds — which seek to buy and grow small businesses — amid white-collar job insecurity. But the model isn't always glamorous, and the memes are rampant. How search funds work. As DOGE layoffs set in, Gen Z is entering a shaky postgrad landscape. Students who hoped to work in public service — or fields relying on federal funding and contracts — are starting to reconsider. How about graduate school or even the private sector? Those aren't so easy, either. Gen Z gets a reality check. Also read: Getting into law school just got harder. Here's how you can stand out. Retired boxing champ Floyd Mayweather Jr. has sought to refashion himself as a budding business mogul. In February, he talked a big game about a $400 million purchase of 62 Manhattan apartment buildings. In the month since his announcement, however, there's been no evidence that any of those buildings have changed hands. It's not his only real-estate claim that doesn't appear to match reality. A boast with no receipts. An ex-employee of Rippling, an HR software company, detailed his days of corporate espionage on behalf of rival Deel in an Ireland court filing. Some memorable moments: hiding in a bathroom, getting an offer to move to Dubai, and smashing a phone with an ax. The accused also said Deel's CEO was directly involved. He says the CEO even brought up James Bond. This week's quote: "I've been saying this for two years. Tesla needs to be Tesla." — Early Tesla investor Ross Gerber, who thinks the carmaker's issues go beyond Elon Musk's DOGE involvement. More of this week's top reads: Deloitte is the biggest loser so far in DOGE's consulting crackdown. Cheating on technical interviews is soaring. Managers don't know what to do. BI's reviews team selects the best tax software of 2025. Here are the 20 highest-paying jobs in America. Adobe's HR chief tells staff: We're done with DEI hiring goals. Meet the two twenty-somethings running Palantir's healthcare AI business. YouTube is about to eclipse Disney as the biggest media company in the world. Building more high-density apartment buildings can lower home prices across a city. The home of Harvard is doing just that. I quit my Big 4 accounting career to fry chicken. I'll never go back to corporate life. Gen Z and millennials are creating a recession-resistant corner of the market. Meet the tiny investment bank behind Newsmax's rip-roaring stock debut. The BI Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Grace Lett, editor, in Chicago. Amanda Yen, associate editor, in New York. Lisa Ryan, executive editor, in New York. Elizabeth Casolo, fellow, in Chicago. Read the original article on Business Insider Sign in to access your portfolio
