Are Top Athletes Richer than Top Funds Managers?

16 October 2021 | Updated: 30 October 2021

Note: This piece was first published in 2014, so some facts in it are out-of-date. However, the truth it passes across is timeless.

“If you understand this way of thinking – that by taking smart risks you can make money over time – it will improve your willingness to take risks.” – Bruce Bower

What is the answer to the question that forms the topic of this chapter? The answer is a big NO! Floyd Mayweather, LeBron James, Cristiano Ronaldo, Tiger Woods, Roger Federer, Lewis Hamilton, Mahendra Singh Dhoni, Cliff Lee, Usain Bolt, etc. Each of these stars is one of the best in their respective fields, and no doubt, they’ve achieved success and fame that billions of people can only dream of. Yet, each of them is still poor when compared to the highest paid funds managers in the world.
Are Top Athletes Richer than Top Funds Managers?If you want to know what each of the star athletes mentioned here earns, you will need to do the research yourself. On Buzz.money.cnn.com, Jesse Solomon shows a list of the ten highest paid hedge funds managers in 2013: David Tepper, Steven Cohen, John Paulson, James Simons, Kenneth Griffin, Israel Englander, Leon Cooperman, Lawrence Robbins, Dan Loebb and Paul Tudor Jones.

David Tepper earned $3.5 billion last year. In 2009, he earned some $4 billion. He’s currently worth $10 billion. David’s riches are even far more surpassed by those of some market legends like Carl Icahn ($24.5 billion) and George Soros ($26.5 billion). I don’t even want to mention the Wizard/Sage/Oracle of Omaha.

How much do you think a boxing champion like Floyd Mayweather earned? He earned $105 million, thus currently making him the highest paid athlete in the world. Nevertheless, the tenth highest paid hedge fund manager is Paul Tudor Jones who got a paycheck of $600 million in 2013. This means that Paul is more than five times richer than Floyd in terms of income last year. Paul’s net worth is $4.5 billion.
The highest paid soccer player in the world at the time of writing is Cristiano Ronaldo, with less than $100 million in total earnings per annum; yet his income is more than six times smaller than that of the tenth highest paid funds manager in the world.
Do you now see my point? The world of trading has produced many billionaires – past and present. These traders are extremely rich and the incomes of the star athletes pale into insignificance when compared to the earnings of those funds managers.

It’s true that top athletes enjoy the heavy glare of publicity and are far more popular because of myriads of fans the world over. Some professional traders aren’t famous because they trade behind their computers in the comfort of their offices. Most people don’t know them, save interested individuals who are mostly traders/investors themselves. When many football fans talk about how rich their favourite players are, they are often not aware that some professional traders are far richer than them.

With a worth of $1.1 billion, the New York Knicks are the most valuable team in NBA for 2013 (with revenue of $243 million for that year). Real Madrid is the most valuable sports team, worth $3.3 billion (with revenue of roughly $700 million per annum). However, David Tepper, who is not the richest trader in the world (only the highest paid for the year 2013) is far richer than the New York Knicks and Real Madrid combined. According to Jesse, the top 25 funds managers took home $21 billion among themselves last year.
You should congratulate yourself on being a trader, irrespective of your experiences in the markets. The richest traders didn’t become rich overnight, nor did the richest athletes, for most of them had very humble beginnings. By adjusting your trading approaches to achieve everlasting triumph and by sticking to those approaches, you’ll soon reach financial freedom (though you may not attain the list of the highest paid traders).

Another quote from Bruce Bower ends this chapter:

“Focus on making good risk/reward decisions, keeping losses small, and you will start to become profitable.”

Taken from the book “Unlock Your Potential with the Realities of Trading” 

 

 

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Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Food for Life Global believes Cryptocurrency can help End World Hunger

21 June 2021 | Updated: 21 June 2021

Food for Life Global serves plant-based meals to the poor, malnourished, and victims of disaster. The objective of Food for Life is to serve pure food cooked and served with loving intention as a means of achieving world peace and unity.

Paul Rodney Turner, the co-founder of Food for Life Global, believes that the root of world hunger is a lack of humanity, not a lack of food. “Food, when paired with loving intention, can nourish the mind, body, and soul,” he says. “Our mission is to unite the entire planet through the sharing of nutritious meals.” He teaches that hunger would vanish if we considered ourselves a united worldwide family because you wouldn’t let your brother or sister starve.

Additionally, Turner states that the vegan food the non profit serves plays a big role in making them the most cost-effective feeding program in the world.  They’re also educating people about the advantages of transitioning to a vegan diet and recruiting more volunteers to help them serve with compassion. A $10 donation can provide enough food for up to 40 individuals.

Donating to Food for Life Global

There are numerous ways to donate to feed hungry people around the world through Food for Life Global. Their website provides plenty of ways for people to make regular currency donations, however, they now accept cryptocurrency donations as well! FFLG has started implementing crypto charity wallets and so far the response is inspiring.

The public, especially the younger generation, are finding that cryptocurrency donations are a reliable way to donate to charity. The process is fast, cost-efficient, and transparent. 

Donation to any IRS-approved charity organization, such as Food for Life Global, will help you pay fewer capital gains taxes and the cryptocurrency donation will be even more tax-deductible. Selling Bitcoin and donating the proceeds in dollars might result in up to a 20% tax deduction, deducting hundreds of dollars depending on the final contribution amount. However, if you donate Bitcoin to a charity directly, you may not have to pay capital gains tax. The ultimate payout will reflect Bitcoin’s fair market value. Except for taxes, fewer transaction fees are incurred by non-profits in comparison to a traditional credit card payment, which automatically creates fewer expenses for non-profits and increases donations received by the charity. Additionally, it is a much faster way than traditional financial systems to donate in countries internationally, as the typical transaction time can take days. 

Food for Life Global is accepting several cryptocurrencies starting from Bitcoin, Ether, Litecoin, Chainlink, Bitcoin Cash, Doge, Chainlink, Storj, Basic Attention Token, and more. You can find the list on their website. Their partnership with the charity tokens, Milk and Butter has raised over $450,000 for food-related charities, including Action Against Hunger, Feed America, and Mr. Beast Philanthropy. FFLG alone has received a total of $110,000 in donations from Milk and Butter Tokens. Thousands of children are receiving delicious, plant-based meals through the Butter Token donations. 

These tokens are Binance Smart Chain companion tokens that have been focusing on charity giving and donations. The Milk Token is a Burn/ Redistribution/ Auto-liquidity Token.

There are over three trillion burned Milk Tokens, and Milk holders can stake their Milk to earn 2% staking incentives and churn Butter tokens. So you’re not only putting money into your wallet, but you’re also profiting from the tokens you’ve staked and getting Butter tokens back. Butter Token is a Charity/ Burn/ Staking Rewards Token. There are around 7,100 Butter Token holders and 937 million Butter Tokens that have been burned. 5% of all Butter token sales and purchases go into a charity wallet, which is then contributed to the buyer’s chosen charity. At a very low market valuation, the Milk and Butter token has been able to process a large quantity of funding for the charities they have partnered with, of which Butter holders choose to vote who their donation is given to.

Conclusion

Whether you invest in Bitcoin, Ether, Litecoin, Non-Fungible Tokens, and other forms of cryptocurrencies, you can turn that investment into a donation to help solve world hunger through Food for Life Global. It is very admirable for non-profits like FFLG to welcome the adoption of cryptocurrencies worldwide to help end world hunger. Because the process is fast, the amount donated has fewer transaction fees, and fewer taxes for donors, it makes it a better donation option than traditional financial systems and currencies. 

We invite you to learn more about this new type of currency, emphasizing charitable giving as part of its tokenomics. Cryptocurrency donations have altered the lives of hundreds of thousands of people with only a click of a button. Let’s fight hunger in the world’s poorest communities while also advocating for animal rights and environmental protection. The Milk and Butter Tokens were the first of a new generation of crypto that is demonstrating that this new technology is the most cost-effective and ecologically responsible method to do good!

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Granit Mustafa

Crypto Enthusiast, SEO specialist, and Content creator.