Net Worth: $300'000'000
Bob Arum net worth: Bob Arum is a professional boxing promoter who has a net worth of $300’000’000. Known as the founder and CEO of the boxing promotion company Top Rank, Arum actually started out by working in the US Attorney’s Office for the Southern District of New York. He went on to the boxing industry After a successful legal career. Robert Arum was born in Brooklyn, New York, on December 8, 1931. Bob was raised in an orthodox Jewish household in Crown Heights. He attended New York high School before attending Harvard Law School. He called many of his Harvard peers snooty, and He was heavily focused on studying during this period. After graduating summa cum laude and immediately embarked on a law career. Arum worked as an attorney in the Kennedy administration in the Department of Justice but switched his practice area after the assassination of John and Robert in the 60s. Bob found himself later working as a lawyer for several Wall Street firms, including Krim Ballon and Phillips Nizer. During this period, he conducted research into the details of the assassination of Kennedy, eventually helping his senior partner Louis Nizer create the Forward to the Warren Commission Report. Arum was, However, aware that he would never be successful in his legal career as he had witnessed far too many deaths on a regular basis. During his time in the Justice Department, he was Not only assassinated by Robert and John Kennedy “ , but the high-profile suicide of Floyd Cramer in 1963 convinced him to explore other career options. Before his suicide, Cramer had been indicted for running a mortgage tax evasion scheme. He later wrote that this convinced him that he was not to be charged in court. But Bob continued to practice civil law until 1979 while also bringing the boxing world to the fore. As early As 1962, Arum was in the Boxing industry, although at this time, he was merely assigned by the Department of Justice to confiscate the proceeds of a fight between Sonny Liston and Floyd Patterson. He had This opportunity to meet Lester M. Malitz, a pioneer of CCTV who was working at the time as a boxing promoter. Arum then became the attorney of Malitz. Bob commenced himself as a boxing promoter not long after. Arum met with figures such as Muhammad Ali and Jim Brown, who taught him how to be a successful boxing promoter. After that, Bob was given the role of vice-president and secretary of ali’s main-bout promotion company. In these initial years, Bob shared control of the company with Mike Malitz, son of Lester Malitz and Jim Brown. In the 80″s, Bob gained the required experience to become a highly influential figure in the boxing world. He organized many of the most memorable fights in the sport, including Marvin Hagler vs. Roberto Duran and Hagler vs. Thomas Hearns. He produced the famous rematch between Thomas Hearns and Sugar Ray Leonard In 1989. During the 1990s, he worked closely with well-known fighters like Oscar De La Hoya, Michael Carbajal, Manny Pacquiao, and Erik Morales. Towards the 2010s and beyond, Arum has focused mainly on Hispanic fighters, citing the immense popularity of boxing in the Hispanic community. Many of his shows are subsequently held in cities with large Spanish-speaking populations. His most recent boxing stars include Miguel Cotto, Antonio Margarito, and WBC super featherweight world champion Oscar Valdez. In 1999 Bob Arum was inducted officially into the International Boxing Hall of Fame. Controversy Arum has been involved in numerous controversies Over the course of his career. His rise to fame made him a rival of Don King, another legendary boxing promoter. In the past years, he and Dana White had a fair number of disputes. In 2’000 he admitted to paying the president of the IBF, Robert W. Lee, $200’000 in two installments as a bribe to approve a fight. Arum was sanctioned and fined by the Nevada State Athletic Commission for his testimony, while Lee was indicted for racketeering. Oscar De La Hoya sued Arum in 2001 successfully and was released from his contract with Top Rank in 2014. The Las Vegas office of Top Rank was raided by the FBI In 2004. At the time of the incident, Arum was on vacation, and the FBI was investigating reports that Top Rank was planning to fix an upcoming fight. The investigation was closed In 2006 with no charges brought. Floyd Mayweather Jr was famous for winning the world title. In the early years of his career, Arum accused Arum of underpaying him and exploiting him. Floyd refused to comment on the controversy later that day. Arum once sued HBO for trying to become a boxing promoter and trying to kill his business. Bob said he was wrong that HBO dropped Mayweather from an exclusive deal and that the matter was decided out of court. Arum then continued to complain about HBO and stated that boxing promoters did not need The network. In 2009 Bob Arum accused the state of California of being racist because of the confiscation of Antonio margarito’s boxing license due to illegal hand wrapping. In the same year, he was accused of being racist after he called UFC fans skinheads.
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