Canelo Álvarez warns that money can vanish and champions friendship

Canelo Álvarez summed up the risk of watching a fortune shrink with a striking account: “I had 10 million and, in six months, 100,000; when you least expect it, it’s gone.” The boxer shared the experience on the Cracks podcast, underlining what he sees as the essential lesson in managing money.

“The main thing in all this is being aware. There is no money that cannot run out,” he said. He believes sound money management also depends on financial education and the ability to think before spending. In his view, receiving a large sum is not enough if spending and lifestyle keep expanding.

He illustrated the danger with the example of someone who had no money and then received 10 million dollars: that person might want to spend 15 million, and later face the costs of maintaining a house, cars and the lifestyle established after the windfall. His point is that a fortune can disappear if spending habits do not change.

The boxer also linked his approach to business to the example set by his family. He recalled growing up alongside a brother who was enterprising in the restaurant trade, and said that being around him naturally led him to build businesses of his own.

His ambitions extend beyond boxing. “The day I retire, it won’t be because I no longer love boxing, but because it will be time to pursue my other goals,” he said. He added that the sport opened doors for him to develop in business and recommended setting short-term targets before moving on to the next ones.

His advice on lending is more blunt: “When someone asks you to lend them money, you’re already going to end up badly.” He regards money lent as money “lost for good”, while drawing a line at people asking for more than the original amount. Finally, he said time had helped him understand advice he once met with scepticism: “It’s better to have friends than money.”