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How Floyd Mayweather Jr. Allegedly Lost $175 Million Behind the Scenes · Earn Your Leisure

• 0:00
  Speaker 1: Let's talk about an unfortunate situation that's a learning experience.
• 0:04
  Speaker 1: But Floyd Maywell, my brother, he's in a current lawsuit
• 0:10
  Speaker 1: with his ex business advisor, said that he got he
• 0:15
  Speaker 1: got him for one hundred and seventy five million dollars. So, man,
• 0:19
  Speaker 1: I think the guy's name is Jonah restin.
• 0:22
  Speaker 2: Its allegedly for legal purposes, well allegedly, well that's his name.
• 0:28
  Speaker 2: I'm just saying allegedly. Allegedly.
• 0:30
  Speaker 1: What happened is that Floyd is saying that over the
• 0:33
  Speaker 1: course of a couple of years, one hundred and seventy
• 0:36
  Speaker 1: five million was siphoned from him in faulty, fake real
• 0:42
  Speaker 1: estate deals, bad investments, jury, a long list of different
• 0:48
  Speaker 1: things where he was pretty much fleeced allegedly of almost
• 0:55
  Speaker 1: two hundred million dollars. Now he's he's suing him and
• 0:59
  Speaker 1: he's taking an Instagram to you know, be very vocal.
• 1:03
  Speaker 1: He's vocal about this, not like he's not like he's
• 1:05
  Speaker 1: hiding this. His vocal about this, but he's taking it.
• 1:08
  Speaker 1: He's he's he's man, this is this unfortunate situation. But uh,
• 1:15
  Speaker 1: you know, we saw this happen with Tim Duncan. Yes,
• 1:20
  Speaker 1: what has happened with Kevin Garnett. We saw this happen
• 1:23
  Speaker 1: in another way, Steve Harvey, he saw this happened with Fat.
• 1:27
  Speaker 2: That, Joe, Mike tyson Man.
• 1:30
  Speaker 1: The list goes on, the list goes on. So the
• 1:34
  Speaker 1: first question is for an average person, they're going to say,
• 1:37
  Speaker 1: how the hell can someone takes one hundred and seventy
• 1:40
  Speaker 1: five million dollars from you and you don't realize what's
• 1:43
  Speaker 1: going on?
• 1:46
  Speaker 3: Not being paranoid the one common trait that you and
• 1:49
  Speaker 3: I both share deep paranoia, and you needed a business
• 1:55
  Speaker 3: all the Just delegate away and have your inner circle
• 1:59
  Speaker 3: takeake care of everything. There's a whole predatory industry of
• 2:03
  Speaker 3: advisors accountants who pray.
• 2:07
  Speaker 2: On you to say I got it. Just focus on
• 2:10
  Speaker 2: that thing.
• 2:10
  Speaker 3: Anytime someone tells you focus on your main craft and
• 2:13
  Speaker 3: not look at the money, they are there to rob you.
• 2:17
  Speaker 3: I keep telling you, as soon as you get the money,
• 2:21
  Speaker 3: they have one million ways.
• 2:23
  Speaker 2: To take the money away from you.
• 2:25
  Speaker 3: Taxes, scams, putting people on your relationship, faulty business earnings,
• 2:31
  Speaker 3: faulty business deals, joint venture partnerships with all the money
• 2:35
  Speaker 3: flows in through them, taking of IP. You have to
• 2:41
  Speaker 3: carefully watch and this is watching me personally. Every contract
• 2:44
  Speaker 3: I go over, I take care of the marketing, I
• 2:48
  Speaker 3: take care of all payments. You're not going to pay
• 2:51
  Speaker 3: anything on my behalf, and you have no power of
• 2:53
  Speaker 3: returney over anything financially, can't do it. Some of them
• 2:57
  Speaker 3: going to say, well, is you're going to tie up
• 2:58
  Speaker 3: all your time rather me tie up my time watching
• 3:01
  Speaker 3: over the inventory of capital opposed to letting someone take it.
• 3:07
  Speaker 2: That's that's one way.
• 3:08
  Speaker 3: And even the people who would advise you and connect
• 3:13
  Speaker 3: you to the accountant or business manager, they are often
• 3:18
  Speaker 3: in on it too.
• 3:18
  Speaker 2: They've done great business with you. So now your guard
• 3:21
  Speaker 2: is down.
• 3:22
  Speaker 3: Now you're trusting the associate that they said, knowing that
• 3:25
  Speaker 3: this is the tenure plan for them to be able
• 3:28
  Speaker 3: to get the money out of you. What are some
• 3:30
  Speaker 3: ways you think he could have prevented it, And for
• 3:32
  Speaker 3: the people watching, they could prevent it from happening to themselves.
• 3:39
  Speaker 1: I think you said a lot. As far as you know,
• 3:41
  Speaker 1: watch over your accounts, be informed on what's going on.
• 3:45
  Speaker 1: Never just let somebody tell you, Okay, this is what
• 3:48
  Speaker 1: we're gonna do.
• 3:48
  Speaker 2: Take the money.
• 3:49
  Speaker 1: Don't do anything that you don't understand. That's important, especially
• 3:53
  Speaker 1: when you have that much money, you don't need, you
• 3:54
  Speaker 1: don't need to do anything you don't understand. Don't live
• 3:58
  Speaker 1: beyond your means because in that force you to do
• 4:00
  Speaker 1: things that you wouldn't necessarily do if you didn't. That's
• 4:03
  Speaker 1: one thing Country Ruin said, like living below your means
• 4:05
  Speaker 1: is a superpower because if you're living if you're living
• 4:08
  Speaker 1: above your means, even if you work for a billion dollars,
• 4:10
  Speaker 1: if you spending ten million dollars a month, now you
• 4:14
  Speaker 1: got to do something to maintain that. So now that
• 4:17
  Speaker 1: puts you in more risk yep, because now you feel
• 4:20
  Speaker 1: like you have to, you know, figure out how to
• 4:23
  Speaker 1: make another twenty to justify the ten that's going out.
• 4:30
  Speaker 1: But man, education is very important, and like I said,
• 4:35
  Speaker 1: just it's difficult because I feel like, you know, a
• 4:40
  Speaker 1: lot of times, it's harder to like Jadakis says, it's
• 4:43
  Speaker 1: easy to make money, but it's hard.
• 4:44
  Speaker 2: To keep it. It's hard to keep it.
• 4:45
  Speaker 1: Bro keeping the money is hard, is harder to keep it.
• 4:48
  Speaker 1: Millions is harder than making millions a lot of times
• 4:50
  Speaker 1: because it's like you got lifestyle creep, you got expenses,
• 4:54
  Speaker 1: you got real estate, you got a posits, you got taxes,
• 4:56
  Speaker 1: You got the lawsuit.
• 5:00
  Speaker 3: Oh don't you be in that gym and you crawl something,
• 5:03
  Speaker 3: you drop the dumbbell and the rollover on somebody's foot
• 5:06
  Speaker 3: right before investments, Oh shod I need one point eight,
• 5:09
  Speaker 3: my boy, you threw the dumb baill let me.
• 5:12
  Speaker 2: That's a fact.
• 5:13
  Speaker 1: So I feel like it's one of these things that
• 5:19
  Speaker 1: that's the whole. Nobody ever teaches you how to maintain
• 5:22
  Speaker 1: the money. They teach you might teach you how to
• 5:23
  Speaker 1: make the moneyment how to maintain the money. So a
• 5:26
  Speaker 1: lot of it just comes down to having personality to
• 5:29
  Speaker 1: manage success.
• 5:31
  Speaker 3: And and no one ever thinks that you're going to
• 5:37
  Speaker 3: have a bad year, even for me my paranoia, and
• 5:40
  Speaker 3: you've brought.
• 5:40
  Speaker 2: It up on the show. It's like, I hon'est think
• 5:42
  Speaker 2: you spend no money, Dan.
• 5:46
  Speaker 3: If you get to spending money, even the luxury brands
• 5:50
  Speaker 3: a fine way to send their representatives to you to
• 5:55
  Speaker 3: spend more.
• 5:56
  Speaker 2: You done gotta come to the store.
• 5:57
  Speaker 3: We're gonna bring everything out the store to your house,
• 6:00
  Speaker 3: every watch and every accessory we're gonna find. Well, this
• 6:04
  Speaker 3: one may go for twenty million, but you man, it's
• 6:07
  Speaker 3: one point five. That one point five and three million,
• 6:10
  Speaker 3: they start to add up. Now you got a bunch
• 6:12
  Speaker 3: of girls, the girls of there. When the jewelers showing
• 6:15
  Speaker 3: you the jewelry, Man, I want something, it's only fifty,
• 6:19
  Speaker 3: but now you got fifty added up with one point three.
• 6:22
  Speaker 3: And now you got to get your other friends or
• 6:24
  Speaker 3: family member something because now even when you travel, it's
• 6:27
  Speaker 3: twenty five people with you.
• 6:29
  Speaker 2: Great point. Living below your meanings is a.
• 6:32
  Speaker 3: Superpower and it's one of the easiest ways to keep
• 6:34
  Speaker 3: the money attacking. But you have to be so comfortable
• 6:36
  Speaker 3: in yourself to not want to spend. And my last
• 6:41
  Speaker 3: point is be mindful of the person who even gives
• 6:44
  Speaker 3: you the brand character. I'll always go back to Vince
• 6:48
  Speaker 3: Nickmahon made a fortune robbing every piece of talent that
• 6:53
  Speaker 3: came through WWE that money. Mayweather character was created by
• 7:00
  Speaker 3: Nickmahon going into WrestleMania. Be mindful of the advisors, so
• 7:05
  Speaker 3: like the like the historical performance of a person and
• 7:09
  Speaker 3: the advice they give you matters a lot. Ted dbos
• 7:13
  Speaker 3: it was a derivative of that and Virgil put together.
• 7:16
  Speaker 3: If you know Teddybiostra's story and virgil story, they ended
• 7:19
  Speaker 3: up in a scandal doing something because they have to
• 7:21
  Speaker 3: keep up a lifestyle from the nineteen eighties. Be mindful
• 7:25
  Speaker 3: of these people that are being sent to you to
• 7:27
  Speaker 3: give you advice.
• 7:28
  Speaker 2: They're there to fuck you over. Be careful, it's tough.
• 7:34
  Speaker 2: It's tough.
• 7:36
  Speaker 3: Prayers to him and the family, and shout out to
• 7:37
  Speaker 3: the team out whatever conversation we had.
• 7:39
  Speaker 2: You know, I keep private, but there are people that
• 7:42
  Speaker 2: are sent to you.
• 7:43
  Speaker 3: Even with the other personal situation which I won't touch,
• 7:48
  Speaker 3: people will get sent to you to get the money
• 7:50
  Speaker 3: off of you. I tell you all the time, the
• 7:52
  Speaker 3: hardest thing to do is a mass wealth and then
• 7:55
  Speaker 3: not show it's so hard, especially I gotta ego. You
• 7:58
  Speaker 3: think I want to pop up on some you' I'll
• 8:00
  Speaker 3: be saying that thing and me and Zian to go
• 8:02
  Speaker 3: play bump of cards with a colony.
• 8:06
  Speaker 2: Can't do it, can't do it, can't do. Discipline is
• 8:13
  Speaker 2: the key, yes the fact.
• 8:16
  Speaker 1: Avoid large purchases, yep, avoid large purchases and keep your
• 8:20
  Speaker 1: month feeling overhead low.
• 8:21
  Speaker 2: Low for real, and stay paranoid. People.
• 8:24
  Speaker 3: Every person who tells you that you're crazy for being
• 8:27
  Speaker 3: paranoid are trying to find a way to rob you.
• 8:30
  Speaker 2: Don't want you to get your guard down. Why don't
• 8:32
  Speaker 2: you just let me take care of you want to?
• 8:36
  Speaker 3: You haven't amassed my fortune and you want me to
• 8:38
  Speaker 3: delegate the payments to you. How No, no packet. No
• 8:47
  Speaker 3: gotta be careful. And you have to be incredibly educated
• 8:54
  Speaker 3: to even be able to battle the sharks you come
• 8:56
  Speaker 3: to get you. I know something y'all hate when I
• 8:58
  Speaker 3: say read fifty pages a day, But they have been
• 9:01
  Speaker 3: trained on reading for generations, on how to extract money
• 9:08
  Speaker 3: from new rich and new wealthy people. It's a whole
• 9:12
  Speaker 3: like when you get to talking to some of them
• 9:14
  Speaker 3: else slip, oh, my dad did this and dah and
• 9:17
  Speaker 3: he made this fortune from this deal. Even in private equity,
• 9:20
  Speaker 3: the leverage buyout that was originally taking advantage of companies
• 9:25
  Speaker 3: that were going under and buying them for pennies on
• 9:28
  Speaker 3: the dollar.
• 9:29
  Speaker 2: You don't think they're doing it with some of the
• 9:31
  Speaker 2: athletes and artists.
• 9:32
  Speaker 3: Now it's a whole other category of business that people
• 9:35
  Speaker 3: don't need to talk about. How does every rapper in
• 9:39
  Speaker 3: six years post being in the NBA, A large swath
• 9:42
  Speaker 3: of these people end up going broke and they have
• 9:45
  Speaker 3: some of the best managers on earth.
• 9:48
  Speaker 2: You think that's by accident,