Jake Paul has been a figure of arrogance in the mainstream, but that’s also a part of his appeal. The social media star, 25, has been twice-accused of sexual assault and had the FBI raid his home after a video showed him at the mall during looting. His brother even created an infamous video called “Suicide Forest,” which nearly ruined his career.
“No one wanted to work with us,” Paul said. “My life was pretty much ruined.”
Although his life has been filled with controversy, Paul didn’t give up. According to Forbes, he is currently the world’s 46th-highest-paid athlete, earning $38 million before taxes in the past year.
When asked about his earnings, he said, “It doesn’t make any sense, but hey, it is what it is, right? People want to see the fights, I guess, and the money comes along with that.”
Paul never had boxing experience, but that didn’t stop him from defeating Deji Olatunji, which he credits to when he “fell in love with the sport.” In December, he even had the “Knock out of the Year” when he boxed UFC champion, Tyron Woodley.
According to a report from IBISWorld, the revenue for boxing was down 47% in 2020 to $236 million. Even HBO dropped live boxing from its programming in 2018 after a 45-year association with the sport.
Paul has completely changed the game since entering the ring. With over 60 million followers, he’s been able to bring younger fans into the sport. His fight with Conor McGregor generated about five million views on YouTube, while his knockout of Woodley had more than ten million views.
Paul plans to fight twice a year. His next potential fight could be on August 13, although he has yet to name an opponent. His goal is to become a “world champion, personally, just to laugh in everyone’s face.” Although he may never become a world champion, he is doing something right.
“If I’m not winning the fights and all of this shit, that doesn’t matter. So that comes first and foremost.” Paul said.
His newest venture is Most Valuable Promotions, in which he partnered with UFC CFO Nakisa Bidarian to transform the future of boxing.
The company partnered with Eddie Hearn, chairman of British sports promotion company Matchroom, to organize a women’s fight, which was a huge success. In April, the event was sold out and featured Amanda Serrano and Katie Taylor, who each received over $1 million.
“This is just the start, and I love proving y’all wrong, and I’ll continue to prove y’all wrong, and hop aboard the train or get the fuck out of the way because you’re going to get ran over. I’m hungry, I’m motivated, and there’s just nothing that anyone could do to stop me.” Paul said.
When Paul isn’t focusing on boxing, he’s acting as a venture capitalist with a $15 million fund. The fund currently invests in web3 with Alchemy, a blockchain game, Blocktopia, and Elon Musk’s startup Synthesis.