What are Saul Alvarez's Net Worth and Career Earnings?
Saul Alvarez, popularly known as "Canelo," is a renowned professional Mexican boxer in the Light Middleweight division with a net worth of $250 million. Canelo is a four-division world champion and frequently cited as the best pound-for-pound boxer. Since starting his career at just 15, he has faced and conquered many opponents to secure multiple world championships in four weight classes, including light middleweight, middleweight, super middleweight, and light heavyweight divisions.
Among his notable victories are his 2011 wins of the WBC, WBA (Super), and Ring magazine light middleweight titles and his 2015 unification of the WBA (Unified), WBC, Ring, and lineal middleweight titles. In December 2020, he became the first boxer to unify the WBA (Super), WBC, and Ring magazine super middleweight titles and later secured the WBO title in the light heavyweight division in 2019.
Business Empire
Outside the ring, Canelo is a successful businessman. He owns a chain of gas stations in Mexico called "Canelo Energy" and 20 locations of a convenience store called "Upper." His ventures include a clothing line and a fitness app. In 2023, he launched a canned tequila-based cocktail named VMC and a sports drink company called Yaoca.
Canelo is selective with endorsement deals. His primary endorsement contract is a $2 million per year deal with Anheuser-Busch.
Contracts
On October 17, 2018, Canelo signed a 5-year $365 million fight contract with Oscar De La Hoya's promotion company and DAZN. The deal covered 11 fights, starting with his December 15, 2018, matchup against Rocky Fielding in New York. Between June 2018 and June 2019, Canelo earned $95 million. The following year, he earned $40 million, followed by $90 million between June 2020 and June 2021.
Early Life
Saul Alvarez, full name Santos Saúl Álvarez Barragán, was born on July 18, 1990, on the outskirts of Guadalajara. His family moved to Juanacatlán when he was five. Alvarez is the youngest of seven siblings, all of whom became professional boxers. He was raised on the family farm and enjoyed horseback riding. Due to his rare red hair, he earned the nickname "Canelo," meaning "cinnamon" in Spanish.
Alvarez began boxing at 13, following his older brothers. His amateur record was impressive, winning a silver medal in the Mexican Junior Championship and a gold medal the next year at age 15.
Career
After winning gold, Alvarez went pro at 15. Though uncommon, he made his debut because no one else wanted to fight him. Despite fighting older opponents, he knocked out most of them, winning the welterweight title in 2006. He then moved to light middleweight, winning the WBC silver title in 2010 and becoming the first boxer to knock out Carlos Baldomir. He continued defending his title and beat Austin Trout in 2013. Later that year, he lost to Floyd Mayweather.
Canelo rebounded with wins over Alfredo Angulo in 2014 and Miguel Cotto in 2015, securing the WBC, Ring, and lineal middleweight titles. He defended these titles with a knockout against Amir Khan. In 2016, he dropped weight to challenge Liam Smith for the WBO light-middleweight world title, winning it with a body strike. He subsequently beat Julio Cesar Chavez Junior. This victory set up a highly-anticipated fight against Golovkin. Their first match in September 2017 ended in a split decision, and a rematch was scheduled for May 2018. However, Alvarez tested positive for a banned substance and was suspended for six months. After meticulous negotiations, the rematch occurred in 2018, with Canelo winning in a controversial decision.
Alvarez then moved to super middleweight, defeating Daniel Jacobs before moving up two weight classes to defeat Sergey Kovalev at light heavyweight in 2019.
Saul Alvarez Major Purse History
- Sugar Shane Mosely: $1.2 million
- Josesito Lopez: $2 million
- Floyd Mayweather: $12 million
- Miguel Cotto: $5 million
- Amir Khan: $25 million
- Gennady Golovkin I: $40 million
- Gennady Golovkin II: $30 million
- Total: $115 million
Ethan Miller/Getty Images
Boxing Style
Saul Alvarez is renowned for his exceptional counterpunching ability, exploiting small gaps in his opponents' guards. His powerful body punches, particularly to the liver, and his defensive head movements are notable. Alvarez demonstrates unmatched intelligence, setting traps with creative combinations that often end fights.
Career Earnings
To date, Canelo has earned $600 million before tax from various sources. Despite being offered $65 million to fight Manny Pacquiao in Mexico, Pacquiao declined. Alvarez's earnings include a $1.2 million purse for defeating Sugar Shane Mosley in May 2012 and a $2 million purse plus $100,000 knockout bonus for defeating Josesito Lopez in September 2012.
For the Mayweather fight, his earnings totaled $12 million, including PPV profits, while his 2015 victory over Miguel Cotto earned him a $5 million purse and significant PPV revenue. In May 2016, he earned an estimated $15–$25 million from defeating Amir Khan. Between June 2017 and June 2018, he earned $44 million, with more than $40 million coming from his fight with Golovkin. The rematch in September 2018 guaranteed him $25 million upfront, with the event generating more than $94 million in PPV buys. Between June 2022 and June 2023, Saul earned $110 million from various sources.
DAZN Deal and Lawsuit
In 2018, DAZN signed a $365 million deal with Alvarez to broadcast his next ten fights, one of the largest sports contracts at the time. The agreement stipulated that DAZN would pay Golden Boy $40 million per fight, with Canelo receiving $35 million per fight.
In September 2020, Alvarez filed a breach of contract lawsuit against DAZN, Golden Boy Promotions, and Oscar De La Hoya. The lawsuit sought $280 million in damages, citing issues over opponent selection and payment guarantees. Canelo's goal was to either secure the $35 million per fight as guaranteed or gain independence from the contract to pursue other opportunities.
