• Thursday, April 18, 2024
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BusinessDay

How Anthony Joshua’s company raked in £35.9m profit in 2023

Anthony-Joshua

Anthony Joshua‘s company, Sparta Promotions Limited recorded £35.9m profits and equity growth in 2023 after the British heavyweight enjoyed a massive outing in 2023.

Adding to all his sponsorship deals, partnerships and business operations, Sparta Promotions have grown in equity once again, with the company’s value rising to £129m, according to Daily Mail.

That’s nearly a £30m rise in its equity valuation for 2022, with the former heavyweight champion paying almost £7m in tax last year.

The 34-year-old boxer fought three times during the calendar year, beating Jermaine Franklin, Robert Helenius and Otto Wallin to bounce back after suffering back-to-back losses to Oleksandr Usyk in 2021 and 2022.

According to Forbes,  Anthony Joshua has a whopping 16.9m followers on Instagram and is one of the most well-known athletes on the planet, placed 28th in the rankings for the World’s highest-paid athletes in 2023.

Anthony Joshua currently boasts a net worth of approximately £41million and has continued to add to his gigantic fortune in 2024, banking another £39m in his fight against Francis Ngannou in Saudi Arabia.

That came even before he had stepped into the ring where he would go on to deliver an emphatic second-round knockout to beat the former UFC heavyweight champion.

“When I first started, the aim was to become a multimillionaire,” Joshua told GQ in 2017.

“But now there are ordinary people, grandmas and granddads, who are worth millions just because of property prices. So the new school of thought is that I need to be a billionaire.

“Being a millionaire is good, but you have to set your sights higher. If I’m making £10m from my next fight, my next target has to be making ten times that. And if I get to £100m-150m, why not go for the billion? I know self-made billionaires. It’s hard, but it’s possible.”

The British boxer of Nigerian descent boasts a collection of luxury cars worth around £1m which includes a £150,000 Range Rover SVO – which was custom-made with his name inscribed in the tread plates – and a £93,000 white Jaguar XJR. He has over a dozen properties in his portfolio including a £1m north London house.

He also owns a clothing line, AJBXING, and has partnerships with Jaguar Land Rover, William Hill, Hugo Boss and Under Armour.

The financial benefits of fighting in Saudi Arabia are clear with Tyson Fury also banking £39m for his ‘Battle of the Baddest’ clash against Francis Ngannou last year.

Joshua’s recent form proved that he is back to his best with his sensational knockout against Ngannou at the start of the month.