Floyd Mayweather is not only the pound-for-pound king inside of the ring, but he’s also pound-for-pound the best when it comes to generating dollars as well.
Mayweather was recently blessed with the cover of Black Enterprise Magazine, and honored as the most influential African American in sports.
- Between takes during his season on Dancing with the Stars, Mayweather and Mayweather Promotions CEO Leonard Ellerbe spent much of their time in billionaire mogul Mark Cuban’s trailer learning business strategies from one of the best in the game.
- Mayweather Promotions has generated more than $1 billion in pay-per-view revenues, while the boxer himself has netted in excess of $350 million during his career.
- Mayweather was the one who envisioned that there should be a business model developed so that he would become independent of promoters and gain the lion’s share for his fights. He wanted to be his own boss as well as have a diversified group of businesses.
- Speaking of influence, Mayweather has 11 million Twitter, Instagram, and Facebook followers and a social networking team so that he is in constant contact with his fans.
- Mayweather Promotions has six revenue streams per event: pay-per-view; foreign sales (depending how many other countries buy the fight); closed-circuit revenues (restaurants and bars); theater revenues (ticket sales); merchandising; and sponsorships.
- Mayweather’s last fight, against Canelo Álvarez, broke the all-time record for a pay-per-view event with 2.2 million buys and generated $150 million.
While the economic challenges of the last few years have tested organizations of all stripes, Black-owned businesses closed their doors at twice the rate of other businesses during the pandemic. Studies show that less access to the financial system and lack of family wealth to draw from – both key avenues of financial security during economic slowdowns – are partly to blame.
Consumer spending habits are another major challenge for Black-owned businesses, which can struggle to scale up because of a misperception that their target market is a narrow demographic. Minority-owned businesses, however, are often marketing to broader audiences who never consider them.
I have personally experienced how convenient it is to visit the website of a prominent retailer and locate a significant portion of my shopping list in a single location. However, in order to contribute to the advancement of Black-owned enterprises in the United States, UK, Ireland, and the Netherlands, I have assembled an extensive roster of more than 450 Black-owned businesses spanning various sectors. Please take a moment to explore the list provided below!
