Bob Arum Net Worth

Introduction 

If you’re wondering about the Bob Arum net worth, you’re not alone. His career has been one of ups and downs. At one point, he was the subject of a criminal investigation by the FBI. But despite all of that, he’s still managed to amass a hefty net worth over the years. Here’s a closer look at Bob Arum’s personal life and career.

Background 

Born in Brooklyn, New York City, Bob Arum attended Crown Heights High School. He later graduated from Harvard Law School. Some of his classmates at Harvard were snooty, but he was a distinguished student, earning the summa cum laude. After law school, Arum pursued a career in the Department of Justice. However, he shifted his focus after the Kennedy brothers were assassinated.

Facts about Bob Arum

After his stunt in the Justice Department, Bob Arum became an attorney and witnessed the assassination of Presidents John and Robert Kennedy. He was also at the scene of the suicide of Floyd Cramer, the head of the Washington Heights Savings and Loan Association. Cramer was indicted for a mortgage tax fraud scheme. Arum learned of his death only a few days later. After this, Bob Arum decided to focus on civil law, and ventured into boxing promotion.

A Successful Lawyer

While Arum is a lawyer and fully qualified, the majority of his money comes from his work for the boxing promotion company Top Rank. His most successful event to promote is the Mayweather-Pacquiao fight. He has also arranged fights such as Marvin Hagler vs. Roberto Duran, and Hagler vs. Thomas Hearns. In recent years, Bob Arum has worked with several well-known fighters, including Miguel Cotto, Antonio Margarito, and Jose Valdez.

Accomplished Promoter

Arum is an accomplished promoter who has accumulated enormous assets over the years. Arum also helped bring many of the world’s most renowned boxers to fame. His biggest fight was Ali vs. Duran, which was a knockout for the two-time world heavyweight champion. He also managed to make sure that Floyd Mayweather Jr., Eric Morel, and Jose Luis Castillo were all world heavyweight champions.

Involvement in Boxing World

Arum’s involvement in the boxing world began in 1962, when the Department of Justice seized his earnings from a fight between Sonny Liston and Floyd Patterson. In this capacity, Arum met Lester M. Malitz, a pioneer in CCTV. He also became a boxing promoter, introducing Muhammad Ali and Jim Brown to the sport. He was soon surrounded by world-famous fighters.

Net Worth

As a boxing promoter, Arum’s fortune has increased dramatically. His net worth is estimated at $300 million. His net worth is not based solely on his boxing career, but also his personal life, including his appearances in movies like Play It To the Bone. Arum has made several notable contributions to the boxing world and has been hailed as one of the world’s most influential people.

Founder and CEO

In addition to his role as the founder and CEO of the professional boxing promotion company Top Rank, Bob Arum has a net worth of $300 million. He was an attorney in the United States Attorney’s Office for the Southern District of New York before turning to the promotion business. During this period, his company arranged several world heavyweight championships and superfights, including Marvin Hagler vs. Roberto Duran and Thomas Hearns.

Conclusion 

While Arum was a successful boxing promoter, there have been several scandals involving his company. He was once fined $125,000 by the Nevada State Athletic Commission for taking a bribe from boxing promoter Don King. In 2015, HBO sanctioned Arum’s business activities, but Arum continued to criticize the network and boxing. However, he has since returned to his previous roles.

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