Floyd Mayweather splashes out $20million on lavish Christmas gift for his three-year-old grandson
Floyd Mayweather has assured that generational wealth stays in his family for years to come.
'TBE' hung up his gloves in 2017 after pocketing a mammoth $1.2billion (£800m) in career earnings, making him the highest-paid boxer of all time.
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Over the years, Mayweather has splashed his cash on various lavish items such as a £40,000 diamond-encrusted iPod, a £10,000 one-of-a-kind golf buggy and a fleet of supercars worth over £20m.
But more recently he has focused his outgoings on building up a large property portfolio for long-term investment.
His vast property empire includes a Las Vegas mansion he bought for $10m (£7.6m), a $18m (£13.8m) Miami Beach compound in the Palm Island conclave and a $402m (£309m) block of New York apartments.
However, his most recent $20m (£15.9m) purchase has been gifted to his three-year-old grandson, Kentrall Gaulden Jr.
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Mayweather has entered into an agreement to purchase a prominent building in New York City for ten figures.
The property is located on 6th Avenue and 47th Street in Manhattan and comes complete with offices, a diamond exchange, and a large, income-generating billboard.
Mayweather regularly frequented the diamond district, which is now owned by his grandson.
"I used to shop in the diamond exchange as a young adult," he said in a statement.
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"I never thought I would end up owning this important property at the entrance of 47th street...
"Through hard work and dedication anything is possible."
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Mayweather uploaded a video of him gifting the building to his grandson to his Instagram.
"I got you a gift," he said. "Guess what I bought you?
"You are the first kid that owns a building in the diamond district in New York City."
Kentrall, who is the son of Mayweather's daughter Iyanna and rapper NBA YoungBoy (real name Kentrell DeSean Gaulden), smiled and wrapped his arms around his grandad.
Three-year-old KJ has formed a close bond with Mayweather in the absence of his father, who is currently on house arrest having served time in prison due to a federal weapons charge.
Last year, Mayweather began posting videos of himself and his grandson on Instagram, even making an account for KJ.
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And over the summer, he took to social media to show footage of himself giving the three-year-old a boxing masterclass in the gym.
KJ began by lightly hitting the heavy bag with single punches.
After being showed by his grandfather to throw quick combinations he adorably replied: "My hands are too little."
His Christmas present may show 'Money Mayweather' flashing his cash now - but it wasn't always this way.
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Floyd Mayweather scored fastest KO of his career by flattening foe Tony Duran with dynamite right-hand at just 20 years old
The five-weight world champion grew up in a one-bedroom apartment with six relatives in New Brunswick, New Jersey.
“When I was about eight or nine, I lived in New Jersey with my mother and we were seven deep in one bedroom and sometimes we didn't have electricity,” he told Mercury News in 2007.
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“When people see what I have now, they have no idea of where I came from and how I didn’t have anything growing up,”
His story now serves as a reminder of how boxing can change lives.
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