How Boxer Terence Crawford Spent His First $1M | My First Million

What's up everybody?

This is Terence Crawford and this is my first million.

[cheerful music]

My mom, she worked very hard taking care of us.

My dad was in the military.

Things that I really wanted to spend money on

as a kid was probably some Jordans.

When we get a pair of shoes, that was our basketball,

going to school shoes, that was our everyday shoes.

When I actually started getting money from boxing,

it was in the amateurs.

I was around 17.

I was getting paid from USA Boxing

and I was getting paid from A to P, amateur to pro.

They had a program to where they match

what USA Boxing is paying you, so I was getting double.

I was getting paid more in the amateurs

than my professional fights.

My first professional fight, I got $600.

It really wasn't until probably my 12th fight

that I got something over $2,500.

This is the details from my first big fight.

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Nobody gave me any lessons on finance.

Nobody in my family ever had

the type of money that I was getting

at the age that I was getting at.

I had to learn on the fly.

I had to surround myself with people

that knew about money, knew how to grow money.

Boxing is a short window.

I had to start making smart investments.

You heard how I made my first million.

This is how I spent my first million.

My house.

145, so we got, let's say 150.

So I got 150.

It was a four-bedroom.

Nice house, had just been built in Omaha, Nebraska.

It was in a new development neighborhood

and I was searching for a house for months and months

and I just couldn't find the one that I wanted.

Come up to the house and soon as I went in the front door,

I knew it was the house.

I bought it on the spot.

That's the house I still live in till this day.

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I bought my truck, $80,000.

It was a pickup truck.

'Cause my grandpa always said

every man always need a truck in case he need to move.

Then I bought myself a Denali and I think that was about 85.

Yeah, so I bought two vehicles.

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My truck, I got it everything done

to it from the dealership.

The top of the line, the undercoated.

I only had it for probably a year and a half

before I traded it in.

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I bought the building for my gym where B&B

is at right now for $100,000.

B&B is a nonprofit organization.

It's a gym that me and my coach, Brian McIntyre, founded.

We wanted to have something that we can call our own

and where we can do things our way.

Brian had the vision and he convinced me.

It turned out greater than I ever could have imagined.

That's a 100 for the gym.

For years, 'cause we didn't actually have the money

to have the rings and the bags

and we were just renting half of the building.

Once the owner passed, his wife, she sold us the gym

because she said she would like for us to have the building.

She donated $25,000 back to the gym.

We donated a ring for her late husband

and we named the ring after him at the gym.

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I just started investing.

I started buying houses.

I paid $250,000 for one of 'em.

I got it built from the ground up.

It had caught on fire and it was vacant

and I just bought the land for $6,000

and then building a house there.

That's on Terence Bud Crawford Street.

I believe real estate is the way for me.

Guy ain't making no more land.

Somebody is getting paid from us sitting in here.

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Remodeling my grandma's house.

We got the trees cut down in the back.

We got the siding, we got the roof, top, bottom, redone.

It's probably more than that but...

I spent $80,000 remodeling my grandma's house.

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I bought my other sister a house.

I spent, can I look at my phone?

[Producer] Yeah.

[Terence laughs]

I'm gonna just say 260.

I spent $260,000 on my other sister house.

I bought myself a house, my sisters a house,

my grandma house, bought the gym,

bought me two vehicles for my family.

I believe that's what I did with my first $1 million.

[cheerful music]