← Money And Wealth With John Hope Bryant
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John Hope Bryant
The holidays are about spending time with your loved ones and creating magical memories that will last a lifetime. So whether it's family and friends you haven't seen in a while or those who you see all the time, share holiday magic this season with an Ice Cold Coca Cola Copyright 2024 the Coca Cola Company what's it like to get the new iPhone 16 Pro with at and T? Next up Anytime? It's like when you first light up the grill and think of all the mouth watering possib. Learn how to get the new iPhone 16 Pro with Apple Intelligence on AT&T and the latest iPhone every year with AT and T. Next up anytime ATT connecting changes everything. Apple Intelligence coming fall 2024 with Siri and device language set to US English. Some features and languages will be coming over the next year. $0 offer may not be available on future iPhones. Next Up Anytime feature may be discontinued at any time, subject to change. Additional fees, terms and restrictions apply. See att.com iPhone for details. 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Listen to that cascading liquid. A mouthwatering waterfall. Irresistibly tasty. Zero sugar. Crisp, refreshing and ice cold. Is Coke Zero Sugar the best Coke ever? Try and decide. Welcome to Money and Wealth with John Hope Bryant, a production of the Black Effect podcast network and iHeartRadio. Hey hey. This is John O'Brien and this is the Money and Wealth Podcast coming to you every Thursday, dropping new episodes. Tell all your friends about it. Today we talk about a different kind of fight. A fight for what's Economically, right. A fight for your silver rights. But we're bringing to you the Tyson vs. Jake Paul fight. And really how Mike Tyson got more respect. But Jake Paul made more money. More than that. Mike Tyson was, I think, arguably looking for a payday and respect, which he absolutely deserves. He absolutely deserves respect. Let me make that clear. I was rooting for him myself. I really, really like the new Mike Tyson. And I think the old Mike Tyson, the historic boxer, was, I think, undefeatable. And at 58 years old, he did a great job, all things considered. This guy was half his age. That's not what I'm here to talk about. I just want to make it clear that I was rooting for Mike Tyson and I think he's a great guy. But Jake Paul was on a whole nother situation. Jake Paul was looking to build wealth and build brand for a global promotions enterprise. And Mike Tyson was looking for another good paycheck and, well, respect and. Or more respect, which he received. So fair exchange is no robbery. Mike Tyson was paid $20 million from all estimates. So no one's going to argue about that or with, I mean, anybody would love to have, I'm sure, listening to this $20 million. And he left the ring with his faculties and his health. It appears in check. So thank God and God bless. Let me, before I go deeper into why I think that that's not enough and what this was really about. Right? And the real drop the mic here, no pun intended, has nothing to do with Mike Tyson. I'm going to unpack the game for you. Jay Z said on his 444 album, which I believe is a financial literacy album. He said, I'm about to give you a million dollars worth of game for 9.99. This is no. 99. You're not paying me a thing. Let me explain to you how Cosmic Promotions work and let me explain to you what really happened in this fight. But I'm going to first explain by giving you my own context of my own life. My dad, in this example, was Mike Tyson, but worse, because my dad never got a paycheck like that and wasn't skilled in the way that Mike Tyson was and could be singular in ability to make incredible amounts of money, even if he made mistakes. My dad was a hardworking man. Johnny Will Smith. We lived in South Central Los Angeles. Anybody read my book Financial Literacy for All, which is still number one in the world on business finance, number one in the country. I know at least business. In business finance, if you haven't got a Copy, Get a copy. You know, my book also Up From Nothing. Cover my dad's story. So we're in South Central la, and my dad was this great hustler and he had a cement contracting business. And again, people can read the details. My mom and dad owned several businesses and owned our own real estate and all that stuff and ended up being divorcing each other. And there was domestic abuse in the house and they lost it all. But that's not the story. That's the backstory for this, which is I would be at the front door when folks would visit the house. And I remember very proudly when workers of all races would visit the house on Fridays and they'd pick up their paycheck. And in this example, I commend Mike Tyson. He's going to be. He not going to be. He did put a lot of people to work as a result of doing this match. God bless them. Again, all good. I'm not. This is not jamming up my father or Mike Tyson. It's what we don't know that we don't know that's killing us, but we think we know because no one ever gave us a memo on money and free enterprise and economics and capitalism and ownership and opportunity. So my dad then would open the door midweek for whoever was coming in to sell whatever it is what they're selling. So this one guy showed up to our front doorstep and he had a prime mortgage available for my father. And my mother had incredibly good credit. So if they had applied together, the broker thought that he could really get a great rate from my dad. But the broker wasn't respectful to my dad. He wasn't. He didn't call him Mr. And he called him by his first name. And he is way too casual for my father's taste. And he happened to be Caucasian. It didn't help in South Central. And this particular conversation, my dad was sort of looking at him sideways. And so ultimately my father just turned the guy away. And let's just say in this example that it was offer. He was offering a 3% mortgage just to make this sort of clear how good of a deal this was that my dad was turning away. My dad turned it away because he wasn't respectful to him. About a week later, another guy shows up. He's a brother black man, and he knows folks in the neighborhood. And as a result of that, they've introduced him to my father and he shows up and he's. He's very respectful. He's Mr. Smith and, oh, I know you Go to. I know what church you go to. And oh, yes, I've been to service with the. And oh, you're such a, you know, you're such a handsome man and you're so, you know, dignified. I love the way you dress. And he just really complimenting my father, right? Just growing that ego and all. Your family is so beautiful. And you know, oh, I would never do anything to disrespect you. And you know, what can I do to service you? And I'll bring the documents to you midnight or wherever you happen to be to sign them. And my dad ultimately went with this guy's deal to refinance the house. That guy's deal was a hard money loan. The interest rate was just ridiculous. Let's just say in this example the interest rate was 15%. It wasn't that bad, but you get the point. It was really not good. And it was no comparison to the so called rude guy who was offering 3%. But it was, you know, they were after different things. And the guy who got the business from my dad knew how to bait him and knew that he was financially illiterate and knew that he would win the battle and lose a war. He just appealed to his ego and sort of vanity and some. And then sort of, oh, the guy with a 15% mortgage in this example gave my dad a cash out, right? Where the other mortgage was just a refinance, just lower payments, much lower payments, by the way, so immediate cash, right. Which he also, my dad paid for because you're financing the whole thing. So you're literally paying for the money that you're pulling out at 15%. And we ended up losing the house and losing everything. And this example happens all the time in our neighborhoods. My dad had probably a 500 credit score. My mother ended up having a 800 credit score. And that's one of the reasons I think that they divorced. This example I want you to now apply to the Tyson Jake Paul fight. Now I'm going to give you the part that's easy. Could there have been a fight with Jake Paul without Mike Tyson that got access to 250 million subscribers of Netflix? The answer is no. Could it have been a global event without Mike Tyson? The answer is no. What it would have the buzz, the sex appeal, the interest. Without Mike Tyson from all demographics, I think we all agree the answer is no. He's the legend, the man, Iron Mike Tyson, arguably just undefeated. And here's some of the statistics from Mike Tyson professional debut. He made his professional boxing debut March 6, 1985, at the age of 18, defeating Hector Mercedes in a first round TKO technical knockout. In his prime years, he became the youngest heavyweight champion in history. November 22, 1986, at the age of 20 when he defeated Trevor Berbick, I believe for the WBC title. He was a professional. Career lasted until June 11th, 2005 when he retired. After his final fight with Ken Kevin McBride. He returned to exhibition matches from time to time. It was a fight with Roy Jones Jr. On November 28, 2020. And his acting career was basically 20 years 1985 to 2005 with exhibition bouts which included this recent one with Jake Paul. So his career spanned 40 years. And when he walked into that stadium in Texas, we all saw it. The crowd went wild. I mean, Tyson, Tyson, Tyson, Tyson, Tyson. The vibe was everywhere. And even Jake Paul brilliantly deferred. I'll get to this in a minute as part of this narrative at the end of the fight, deferred to Mike and it all connects. So stay with me for a minute as I unpack this, but let me just drop one of the mics. So if this couldn't have happened without Mike Tyson, Mike Tyson was the draw. Mike Tyson was a sex appeal. Mike Tyson was, was the, was the unbeatable force, the credibility that brought this thing together, that created the. Okay, then why is it that Mike tyson got paid 20 million approximately and Jake Paul got paid 40 million? Boom. So somebody's saying, whoa, wait a minute, did John just drop the gavel here? Did he just tell us that Jake Paul, who's only been a professional boxer for about four years. That's right. He got in the game around the year 2000, the time that Mike re entered as an exhibition boxer after his career was over by 15 years. Jake Paul enters as a professional boxer from being an influencer on mostly YouTube. Okay, it gets worse. Better. However you want to describe it. Jake Paul is a co owner of mvp. I think it's promotions which co produced the fight. You cannot make this up. Yes, I'm a slow roll. That for you again. Jake Paul, who said he hated Mike and beat his butt. I'm going to tear you apart. All this stuff, right? He's the co owner and partner with Netflix producing the entire boxing match with Mike Tyson. So not only did he get $40 million, double what Mike earned, he got everything else which might make his purse upwards of. And this is the part I don't know, but I'm going to walk you through the economics so you can understand financial literacy in Real time. It might be upwards of $100 million, but it's going to be a residual payment for arguably the rest of his life. This was a brilliant move by Jake Paul. Not a bad move for Mike. I mean, this is Mike's discipline. He's a boxer. He's never said he was a mathematician or a businessman. He's never said he was somebody he's not. So I'm not jamming up Mike Tyson. I told you I was rooting for him. I think his career is amazing. I think he's amazing. And if you can come out of retirement and earn $20 million and then go chill and decide whether you want to work again and if that's all you want to do, then he's achieved the pinnacle of his career. But we've all have to. This generation coming after Mike, we have to have a software upgrade because you can no longer make money on your labor, on your body, and expect that to pay sustainable long term dividends. Money makes money on money more than you can ever make money on your body and on your labor. Let me walk you through this one example with no, let me first tell you about folks who try to do this with their body and it just didn't work out. You've heard me say that NFL players, 70% of all of them, bankrupt within five years of retirement from the NFL. You've heard me say NBA players, about the same. 60 to 70% of NBA players bankrupt after five years after retirement. Their career is somewhere between three years and 10 years if they're lucky. All right, so by 30 years, you know you're retired, right? And if you haven't managed your money well, you're done. Let's talk about boxers going broke, not including, I'm not including Mike Tyson here. Why do boxers do exhibition fights? I'm so excited about this and you know, I'm tripping over my own words. Money. Why come out of retirement at 50 years old, right? And fight an exhibition fight? It has to be money because you could die in the ring. I mean, it could end your life. It could ruin whatever health and wellness you have and your family's gonna be terrified. So why do it? It's the money. Evander Holyfield came out of retirement, got knocked out in an exhibition fight. Floyd Mayweather, I don't understand his economics, but I just think he needs to be very careful. But so far so good, it appears with Floyd Mayweather, but he at least understands the back end a little bit. It appears Roy Jones Jr. Did it. They can't keep relying on their bodies to make money. They have to start building wealth in their sleep. Like Junior Bridgeman. Amazon Black Friday week is here. With up to 40% off toys to stuff their stocking noise canceling tech to silent their night and fashion like slippers to mistle their toes. Shop Amazon's Black Friday deals now. Now streaming on Prime Video. You can call me Detective Alex Cross. Based on characters created by James Patterson. Detective Cross, you've been doing this a long time time. And you're the best. And created by Ben Watkins. Multiple victims I connected to this comes a thrilling new series. He's a serial killer. I don't kill for fun. This thinks he's the smartest guy in the room. It's a lot of sickos out there. He actually believes he's an artist. You're going to be part of a masterpiece. 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And if you need some hands on help, their network of experienced attorneys from around the country has your back. Over the last 20 years LegalZoom helped start, run and protect millions of businesses. LegalZoom now you're in business. Launch, run and protect your business to make it Official today@legalzoom.com and use promo code IHEART10 to get 10% off any LegalZoom business form information product excluding subscriptions and renewals. Expires 1231 24. Get everything you need from setup to success@legalzoom.com and Use promo code IHEART10 legalzoom.com and use promo Code IHEART10. LegalZoom provides access to independent attorneys and self service tools. LegalZoom is not a law firm and does not provide legal advice except we're authorized through a subsidiary law firm, LZ Legal Services llc. The holidays are about spending time with your loved ones and creating magical memories that will last a lifetime. So whether it's family and friends you haven't seen in a while or those who you see all the time, share holiday magic this season with an ice cold Coca Cola. Copyright 2024 the Coca Cola Company as I've said, you make money during the day, you build wealth in your sleep. Junior Bridgman was a professional athlete and he did okay. He played 12 seasons never making more than $350,000 in a year. But he turned $2.95 million that he had saved into a $600 million empire, a business empire by buying five Wendy's restaurants in Milwaukee for $750,000. He eventually owned over four hundred and fifty restaurants nationwide. Junior Bridgman again played 12 seasons and never made more than $350,000 in any one season. A great example of a boxer that did well on the back end was George Foreman. He did it with a George Foreman grill. He made over $200 million from a grill. Not a grill in his mouth, not fighting in the grill, not boxing with his hand, but thinking with his brain, winning the battle from his shoulders up. And not only did he take some revenue, but he also had some ownership in stock in the company that made the grill. Let's go back now to this fight and why I want to tell you that it wasn't right. Not right for the future of boxers. Again, fair exchange is no robbery. So obviously Mike was very happy, so God bless him. But Jake Paul played a more significant role. Probably his least significant role actually was as the boxer. He played a role in the business aspects of every aspect of this fight that was streamed on Netflix. He's a co founder of Most Valuable Promotions, mvp. He collaborated with Netflix to organize and promote the event. The partnership marked Netflix first venture into live sports streaming, highlighting Paul's influence in bringing the bout to a global audience. Hold on, I'm getting to it. Financially, the fight was lucrative for both fighters. Again, Paul made 40 million. Tyson made 20 million. Over 280 million subscribers on Netflix. It was made available worldwide, including me and my wife Shacher. We watched it. Paul's involvement extended beyond the ring as he actively participated in the sports promotion and organization through mvp. This collaboration with Netflix not only showcases business acumen, but also demonstrated his ability to influence the boxing industry and their evolution, particularly in integrating streaming platforms into sports broadcasting and social media, which is his history is where he came from. Jake Paul was deeply involved in the business side of this fight, leveraging his promotional company, his promotional company and partnerships with Netflix to orchestrate this groundbreaking breaking event, which was the biggest box in any boxing event other than what's happened in Las Vegas. Let me break down some of the financial involvements from mvp. Event promotion and organization. MVP was a key promoter of the fight, handling logistics, marketing and overall event management. This involved literally, literally the negotiation of all the contracts, including the contract for him and Mike. Then he negotiated his own contract. Of course, he doubled his income, he doubled his fee. Overall events management was handled by him. This again, all the negotiations for the venue and managing media relationships and media contracts. Revenue sharing. As a promoter, MVP would have negotiated a share of the events revenue streams which include, include, not limited to sponsorship deals, securing sponsorships for the event, with MVP receiving a portion of these funds. Think about now, all the logos you saw on the walls, on the screens, on the gloves, on the mat, leading up to it. In the months and weeks, in the weeks and months, the days, weeks and months leading up to this event, all of those promotional events. Think about all that background marketing, all those logos, all those companies, all of that he negotiated and all of that he participated in. Merchandise sales. I'm talking about, you know, the apparel and memorabilia. I'm gonna get to these numbers in a minute. Broadcast rights. Although the fight was streamed on Netflix, MVP may have also negotiated, I'm sure they did, terms that include a share of the streaming revenue or a flat fee for broadcast rights. My guess is a share because there's going to be rebroadcast rights, which again, I'm going to get to, as I now tell you how boxing promotion works. Again, pull out your pen and pen, paper, your iPad or your whatever it is you write on. Here you go. Key elements, negotiating. Well, first of all, matchmaking. You want to identify fighters whose, whose clash will draw significant interest. Hello. What did I tell you? You cannot have a fight with just Jake Paul. He's just not that interesting by himself. But him and Mike Tyson. Okay, so I'm not saying it's all entertainment, but you know that slap that happened before the fight? You've seen Mike Tyson knock somebody out, right? With one hit. And when he touched Jake Paul on that preview, whatever they did, where they were, you know, before they got in the ring, Jake Paul didn't even flinch. I mean, his body barely moved. It was an open handed slap. It was, in my opinion, for entertainment purposes. I think if Mike really hit him, he had been laid out on the ground. But again, it promoted hype. I'm going to just go to the end of the fight because I just. It's hiding in plain sight. And I got to tell you this before I go back to the contracting part. At the end of the fight, Jake Paul salutes. First of all, he doesn't seek to knock out Mike Tyson in our opinion. In my opinion, he'd already knocked him out financially and he didn't want to hurt his prized asset. Why not get this guy out and then have. He would have lost. Either way, you knock him out, people say you knocked out a 58 year old man, you'd be ashamed of yourself. You knock him out. Everybody who's rooting for Mike Tyson now hates you, right? Leave the man with his dignity. You've already won. By the way, did you notice when Mike Tyson came into the ring and when they introduced Jake Paul, they introduced Jake Paul as a philanthropist, a businessman, an entrepreneur, a promoter, you know, social media, YouTuber, influencer. Then they get around the boxer, right? And then when they introduced, and it was some, you know, collapse, whatever. And then you introduced Mike Tyson, the greatest fighter of all time, Iron Mike Tyson, respectfully earned. And the stadium went wild. Michael. Michael Tyson. Tyson. At the end of this fight, this four hour event, by the way, they had you, they had all of us looking at logos and commercials and. Right. Buying goods online and getting all amped up for four hours trying to get to this main event. And it was actually, the women's boxing event was actually extraordinary. Even though I think the Latino lady lady got robbed, she definitely won. But the other lady did put up a good fight. But the Latino woman lady definitely won. So four hours and at the end of this, he Just gives it away on national television. He says, oh, yeah, you know, Mike, you know, you're just such a legend and I respect you so much. And, you know, there was no need to go. I didn't want to hurt him. Didn't want to hurt him. Okay, all right. This is your prime asset and it's key to your brand. You could have knocked him out if it was. Maybe, maybe could have knocked him out, I don't know. But he didn't and he didn't even try. Then he, when asked, does he want somebody to fight this other guy, forget the guy's name. He admits it again and says, look, I got the money, I've got the control. I run this whole thing. That guy needs me. I don't need him. Translation, he doesn't have the vibe that Mike has. I think he went to Mike and negotiated this deal. I think he went to Mike and asked Mike to fight. That's what I think. Again, matchmaking. This guy Jake is a really good businessman. I think he went to Mike initially and said, mike, wouldn't you like to fight in the exhibition deal? I'll pay you $20 million. And that's all Mike saw, and that's all that people tied to Mike saw. And again, I'm not criticizing Mike for making this decision. Contracts, securing agreements on fight terms, purse splits and broadcast rights. This is the job of the promoter. Keep in mind, Netflix was the, was a streaming partner. Okay? And I'm going to get to the, to the back end on them as well. They're your streaming partner, right? They're not getting, they never done a boxing match before. They're relying on their partner, which is Jake Paul, who's negotiating his own compensation and the guy he's brought in to fight with them. Sanctioning bodies, they work. The promoter works with organizations like the WBC and WBA for title recognition and sanctioning fees. Event planning and logistics, venue selection, choosing high profile venues to maximize audience and gate revenue. Licensing, obtaining permits and adhering to state and international boxing commission regulations. Production, organizing, everything from weigh ins to press events and fight night productions. Hype building, leveraging social media. What does Jake come from? What's his gold standard? What is he great at? I've already told you, he came from social media. By the way, you shouldn't hate on any of this. Right? They put off, you know, an extraordinary entertainment event, probably more entertainment than true boxing. They put off an extraordinary event and we, I think on balance we're pleased with it. So check the box, you know, you also had a presidential election that was I think an entertainment event. But that's a whole nother conversation for another time. You know, one could argue all this is WWE produced, but did I just say that? So hype building is one of the jobs of the promoter. Celebrity endorsements involving high profile figures to add buzz. Advertising partnerships with sponsors, running global campaigns, broadcast and streaming deals. This includes pay per view. Selling rights to pay per view platforms is a major revenue driver. Streaming platforms. Now I've already said this was streamed by Netflix. So John, why are you mentioning pay per view revenue? Why are you mentioning international rights? Selling broadcast rights to other countries for additional revenue? Why am I mentioning that? Because now Netflix owns the whole deal. And if they cut a deal like I think they cut with Jake, they own it together. They're going to be cashing this thing out for the next five years. They're going to make revenue for the next six months just. Just like a cash register as they relicense this to other platforms all around the world. Drop the mic again. This is the gift that keeps on giving. Sponsorships and partnerships. Partnerships with brands for pre event advertising, ring signage and co branded campaigns. I want you to go back and watch the game. Game? Watch. It is a game. Go back and watch the fight again from my lens. Fighter relations, managing fighter brands. Career progression and contractual obligations. Keep them satisfied and loyal. Mike, what does it take to get you in the ring? Amazon Black Friday week is here with up to 40% off toys to stuff their stocking noise canceling tech test silent their night and fashion like slippers too missile their toes Shop Amazon's Black Friday deals now. Now streaming on Prime Video. You can call me Detective Alex Cross. Based on characters created by James Patterson. Detective Cross, you've been doing this a long time. And you're the best. And created by Ben Watkins. Multiple victims I connected to this comes a thrilling new series. These are serial killer I don't care for fun this thinks he's the smartest guy in the room. There's a lot of sickos out there. He actually believes he's an artist. You're going to be part of a masterpiece. This is the product of an unbelievable obsession. Aldous Hodge is DC's finest. Alex Cross if we don't find him soon, we may never have another chance again. Thirty years knowing Cross, I learned to trust his gut. I get inside his head. The clock's ticking. He was hit my house. He messed with my kids. He's got to be getting close. You think you can stop him? I know I can, because I know him better than he knows himself. Cross a new original series only on Prime Video. Watch now. 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So whether it's family and friends you haven't seen in a while or those who you see all the time, share holiday magic this season with an ice cold Coca Cola Copyright 2024, the Coca Cola Company Whether you're starting or scaling your company's security program, demonstrating top notch security practices and establishing trust is more important than ever. Vanta automates compliance for ISO 27001 SOC 2 GDPR and more, saving you time and money while helping you build customer trust. Plus you can streamline security reviews by automating questionnaires and demonstrating your security posture with a customer facing trust center. All powered by Vanta AI. Over 8,000 global companies like Atlassian Flowhealth and Quora use Vanta to manage risk and prove security in real time. Our audience gets a special offer of $1,000 off vanta@vanta.com special. That's vanta.com special for $1,000 off. Let's talk about revenue. Pay per view or streaming? Stream was streamed for free. It was really smart for Netflix to stream this for free. They didn't do pay per view this time, but they're going to get on the back end. Live gate. I'm going to get to that in a minute. Okay, that's ticket sales for the event. Promoters aim to fill arenas or stadiums for maximum revenue. Sponsorships, high profile sponsors, sponsors, energy drinks, apparel brands pay to us to be associated with the event. Merchandise, merchandising, streaming. I've already covered that. Okay, so expenses. Fighter purses covered that. Event costs, right? Venue security, production, sanctioning fees covered that. Advertising and promotion. Okay. Undercard fights, We've covered that. Break even point. Determined is determined by the guaranteed payouts of fighters in event costs in venue calls versus the anticipated revenue. And then you have upside sharing I hope Mike got some of this. Often, fighters who really cut good deals get a piece of that upside. Global distribution, selling international broadcast rights and sponsorships can be significant boost post fight. All right, here is the numbers. I'm sorry, Here he is. Here are the numbers. The gate at and T Stadium in Texas, they had 73,000 people come through. It's the biggest event in the history of boxing outside of Las Vegas. Folks got on planes or got in cars, whatever, and went to a stadium. I watched it on Netflix, but they went to checked in hotels, rented cars, bought plane tickets, bought gear, bought merchandise, bought food, buy hot dogs. Are you starting to go and watch this thing again? Again, from my lens? You make money during the day, you build wealth in your sleep. What did Malcolm X say? You've been bamboozled, you've been tricked, you've been fooled, you've been hoodwinked. I'm not saying you've been bamboozled here. You got value for your money because it delivered entertainment. Even though we wanted the fight to be more interesting and we really wanted Mike, I think, to knock him out or at least give a good fight. But it's fine. We're all happy to see Mike happy. And Mike was not upset at the end of the fight, which tells me, again, this was the arrangement, like, just come out of. Just come out of retirement, do the best you can. And if you can knock me out, Mike, great. But, you know, I'm going to come ready for bear. I think what, you know, Jake Paul had in mind and probably would, told his friend Mike tight. They're friends. And, you know, Mike was like, yeah, I'm going to do this, but I'm not going to hurt myself either. And at the end of the day, he acknowledged that Jake was a good fighter and it was a good fight and, you know, take my money and go home. So you had a gate. Now 72,300 people, let's just say the average ticket price is $500, which is a mix of standard and VIP pricing I'm making. I'm just guesstimating. But 72,300 times $500 per person is $36.15 million. So just on the gate, right, you've basically covered Jake Paul's salary, or you want to call it Mike Tyson salary, plus, plus, plus. So that gate revenue, then you got sponsorship deals, right? We know that that was significant. Then you've got, you know, estimated sponsorship deals, 10 to 20 million dollars. This is branding in the arena fighter gear. You know, marketing Campaigns throughout the promotion. Energy drink, apparel brands, tech companies. Again, I think it's 10 to 20 million dollars. So now you've add that to the 36 million. So now just round that up and 20 million plus 30, you know, call it 60 million. That covers both fighters in your. I think your venue costs. I'll get to that in a second. Global post live rights. Netflix could license the rebroadcasting on other platforms because they own it. So here's some examples of some of those deals, what they might look like. By the way, are you having as much fun with this as I am? Send me notes. You see this on social media, on YouTube or by the way, subscribe. Follow me. Tell your friends to follow this. A podcast every week where I unpack the economy and repack it with you in mind. Get my book Financial Literacy for all. Go to Operation Hope to sign up for financial coaching and counseling. It's scholarship for entry level coaching counseling. So it's free to you. Let me know what you think about this and whether you want me to do more like this. Okay, back into this. I'm so excited. Examples of. So we're up at now $60 million in revenue, which is covering the core expenses of the venue. And the fighters still have other expenses. But here's the examples of the deals. $10 million for Asian markets, $8 million for European markets. These are rebroadcasting rights. $5 million for other territories. Total potential licensing revenue just from 1 rebroadcast. 23 million to 30 million. You have streaming and replay rights. Netflix could offer the fight as part of a higher tier subscription or make it available on demand for purchase. I mean, just 2 million purchases at $15 is $30 million. Ancillary rights. Documentaries or exclusive content about the fighters or the event. They've already done a documentary. It's already up, by the way. You can watch it. That chronicled the pre fight. They'll probably do something post fight too. Betting partnerships, especially in markets where sports betting is legal. So you have revenue here. Well, you figured it out. The revenue far exceeds the expenses. Here's some of the expenses we talked about. The fighter purse event cost might have cost 10, $15 million. Marketing might have cost $10 million. But Jake Paul did a lot of that himself through social media and frankly a lot was paid that was promoted through advertisers. They're paying basically he had to pay for marketing because the advertisers essentially marketed the event. Every time they put a commercial on or did something that says, hey, we're associated with this incredible fight. So we got. They paid him to market his own event. Sanctioning fees, 2 to $3 million staffs, logistics and miscellaneous for the day of the event leading up to it's probably $5 million. So it doesn't take a rocket scientist to figure out that there's a whole lot of profit left over. The fight is profitable primarily due to its global appeal and cross platform potential. Leveraging a mix of live event income and post event licensing streaming ensures that SU revenue beyond the fight night lives on forever. This model showcases the evolving economics of combat sports in the age of digital streaming and global audiences and hello, social media personalities. In summary, a major boxing promotion promoter orchestrated this entire ecosystem from fighter selection to global distribution. The economic hinged on maximizing the live gate sales, sponsorship revenue and managing expenses. But most of all, broadcasting revenue post event. In other words, the real money is yet to be made. So yeah, you can't just live on your body anymore. You can't just like, you can't just rock a mic. Is my late friend, the great Quincy Jones, who was a dear friend, a dear mentor and a big brother once told me John, if you think you're in the music business and you don't own licensing rights, publishing rights, writing rights, some kind of rights, you're actually not in the music business. You're just a temporary performer. Boom. So think about how they. A lot of artists have gotten robbed in broad daylight. They don't want to focus on the business side. They just want to, they just want to be creative. They let somebody else handle the business. Member it's the music business is the business of music. And if you sign a bad contract, they own you for life. That happens in the music business. So you're rocking the mic, but you don't own the mic, you don't own the stage. Look, I want to own, I want to own the VIP bracelet company. Right, Yeah, I meant that I want to own the. Whoever does the portable stages. I want to own whoever licenses, I'm sorry leases the microphones and the mic stands and the, the camera lenses. Yes, the lenses of the camera are not owned by the folks running the cameras or the production company. They're leased because they're expensive to 200, 2,000, sometimes $200,000 for a lens, the body of the camera. That's another company. Right, the I want to own the film digital. These days you start to get. I want to own the catering company, the graphics company. Give me something that's going to get used all the time the porta potties. Think, just unpack a concert, unpack a promotional event, unpack a night at the club. Think about all the vendors involved in that process. And when that artist comes and goes, they got a hit and that one day and not a hit, another, that their career might be over. But. But the next person can come along, they're going to use the same mic, the same VIP braces, the same, you know, security. Security company, the same valet company. Right. The same lawyers, same business managers. Right. So these folks are evergreen. They live forever. And we get mad at them because they're great negotiators. The attorneys, business managers, the financial backers. Don't get mad at them. Don't hate the. Don't hate the players if you want, hate the game. But I'm trying to teach you for game again, as Jay Z said, I'm trying to give you a million dollars worth of game for 9.99. I'm giving it to you for not for none. 99. This costs you nothing but your time. So whether you're a singer or whether you're a professional athlete on the, on the field, right? I did a video on my social media Straight Talk live series. You can go back and watch it. Where I talk about, there's this NFL player who tried to negotiate his contract through an llc, limited by limited liability corporation. So they would just pay him the entire amount that he was owed under the contract that he'd pay, and then he would take his expenses out and he would treat himself as a corporation. Well, you. You're not a corporation. You're not a partner with the NFL. You're an employee. You're not even. You don't even work for the NFL. You work for a team that's licensed by the NFL. Hello, Can I get an amen? I'm just breaking it down for you. You working for a team, right, who has a license agreement, they paid for it from the NFL. You're under that team's banner and you're an employee of that team. They give you health insurance, they give you training, they give you infrastructure, they give you a place to sleep, a place to. They take your transportation. And now you can't decide that you want to now be a partner. Once they've taken all the risk off the table, you have no risk other than your body. So you're an employee. And by the way, they can fire you anytime they like. I'm sorry. They can release you from your contract and you're getting paid so much. No one's going to feel sorry for you. Save your money, invest in business like Junior Bridgeport did, Junior Bridgman, I mean did, and many other highly successful people beyond Junior Bridgman. You have Magic Johnston and you know, Michael Jordan. And all these players today are Steph Curry are doing great jobs of managing their brand, managing their businesses, or managing their body on the field. So when they step off the field, that's really their career. Anybody who's become a billionaire, by the way, in professional sports or the arts didn't do it by rocking the mic, bouncing a basketball or hitting a ball of any kind. They did it by transferring to business. So this is no different, right? And again, I'm an end where I started. I'm not hating on Mike. I love Mike. I respect him. And he, he is living his truth and he has a right to live in any way he sees fit. He also came up in a different gentleman generation where these conversations were not common. And you have access to a software upgrade that Mike didn't have because you have me and others telling you how this game was played. Nobody told Mike how this game was played. I mean, his dream was to be a boxer and that was a dream come true. And by the way, he's done it masterfully and he deserved that standing ovation that he got, that sustained standing ovation. I was clapping from him on the TV set. But no different than an Apple phone when the first one came out, iPhone 1, 2, 3 and you know, in. But even when they came out, you know, you know, iPhone 4, 5, 6, 7, 8, 9, 10, right? There's now I have the iPhone 16 Pro and no different. And as soon as the iPhone comes out, there's a software upgrade because they missed something, because they wanted to make something a little bit better. Because they don't let the perfect become the death of the good. But they understood the clients or have constantly evolving demands. And if they're going to pay for this product, they want software that is almost more valuable than the infrastructure, the body itself. So now my iPhone 16 Pro has a, my last time I checked, has a software of 18 point something. So the phone just came out and already the software is outstripping it in its upgrade. It's again, it's 18.1, iOS 18.1. I just checked, the phone just came out. Because it's not about the body, it's about the software. It's about the business plan. It's that the magic, right, is in the software, is in the functionality inside of the body around the body. That brings the body to life. So in Tyson's generation, it was about perfecting that body and he did it better than anybody else and he's deserved a standing ovation. And I'm so glad that he, that he came out of that ring healthy and wealthy by any measurement, right? Anybody would love 20 million and wise. And he goes to live a fight another day. I hope he stops fighting with his body, starts fighting with his brain. But Jake Paul understood the software and he understood the business plan and he understood that this was the business of boxing. And that brother, I must give him credit, honor, I mean, my brother. But he's under God's, under God's plan. He's my brother. He mastered. He mastered this business plan. Co promoter and fighter. He rocked the stage and owned it. This is John O'Brien. This is Money and wealth on Black Effect network. This was unpacking Tyson versus Jake Paul, the fight of the decade. Mike Tyson got more respect and got paid, but Jake Paul made more money and built wealth and brand. Fair exchange is no robbery. A good negotiation when you leave the table and everybody is slightly irritated. So I think this worked out just fine for them. And I want you to understand the game's being played on you so you can master the game and own some of it yourself. Start with owning your home. Start with having a will, getting a life insurance policy. It costs just as much to rent as it does to own. Own your own home. Getting your credit score up. Okay, you got it. You know I'm about to start preaching. All right. John o'brien Love and light. This is money and wealth. I'm out. Money and wealth with John O'Brien is a production of the Black Effect podcast network. For more podcasts from the Black Effect podcast network, visit the iHeartRadio app, Apple Podcasts or wherever you listen to your favorite shows. Sa shop Amazon Black Friday week now with new deals added every day. 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