Mexican boxer Saúl ‘Canelo’ Álvarez stated on the Cracks Podcast that 'the poor will always be poor because they want to.' His comments on poverty, money, and discipline sparked controversy. He shared financial advice drawn from his personal experience.
In a recent episode of the Cracks Podcast hosted by Oso Trava, Canelo Álvarez shared his views on poverty and money management. "No hay dinero que no se acabe y yo siempre he dicho: el pobre va a ser siempre pobre porque quiere", stated the champion from Guadalajara, who sold popsicles as a child in Jalisco.
Álvarez argued the issue stems from a lack of financial education. "Dale 10 millones de dólares a alguien que no tiene ni un cinco, va a querer gastarse 15 millones", he illustrated, warning that sustaining an unsustainable lifestyle leads to bigger problems. He criticized boxers who spend without investing: "El boxeo es pasajero, si no invertiste, si no tienes activos, vas a rascarle del que tienes".
From his entrepreneurial childhood, influenced by his family and brother, Canelo earned his first million dollars at 19. After spending on properties and reducing his capital to 100 thousand dollars, he learned key lessons. He advised investing in assets, starting with real estate, prioritizing reputation and monthly cash flow.
In the interview, he also explained lending money to family as 'fondo perdido' to avoid conflicts. His words, including rejecting lucrative deals for personal values, quickly went viral and drew criticism.