Saul 'Canelo' Alvarez, the world's top pound-for-pound boxer, has teamed up with Richard Schaefer to manage his growing fortune. Schaefer, a 63-year-old former Swiss banker, now oversees Alvarez's financial affairs and business interests.
Schaefer's move to work with Alvarez comes 11 years after his split from Oscar de la Hoya and Golden Boy Promotions. The Swiss businessman entered the boxing world in 2000 when he met De La Hoya, and they worked together until 2014. Their partnership ended on a sour note.
Now, Schaefer aims to multiply Alvarez's wealth and strengthen his business empire. The Mexican boxer already owns more than 30 businesses in his home country and earns more outside the ring than inside it.
Schaefer shared his thoughts on working with Alvarez:
"There are commercial parallels between Canelo and Oscar. But with Oscar, we were building a business portfolio from scratch. Canelo has a different reach. He is beloved in Mexico, and the pride he feels in representing Mexico comes from the heart. Canelo now has more than 30 businesses in Mexico. He makes more money outside the ring than inside it. I honestly believe that, very soon, he will be the first boxer in history whose net worth will exceed one billion dollars."
Alvarez's popularity in Mexico plays a big role in his success. His pride in representing his country resonates with fans and helps drive his business ventures.
As part of his role, Schaefer advised Alvarez to accept an offer from His Excellency Turki Al-Sheikh. This decision aligns with their strategy to grow Alvarez's fortune and consolidate his business interests.
While managing Alvarez's wealth, Schaefer also keeps an eye on the boxer's in-ring career. Alvarez's next fight is scheduled for September 13, 2025, against Terence Crawford at Allegiant Stadium in Las Vegas, Nevada.
With Schaefer's financial expertise and Alvarez's boxing prowess and business acumen, the partnership aims to cement Alvarez's status as not just a boxing champion, but a business mogul as well.
