Anthony Joshua delivered a spectacular sixth-round knockout over Jake Paul in Miami Friday night, leaving no doubt who dominated the ring.
The former two-time heavyweight world champion used his height, reach, and experience to dismantle the 6-foot-1 Paul, who struggled to mount any serious offense.
While fans are focused on the win, Joshua now faces an enormous tax bill.
The fight purse for Joshua was reported at $93 million, putting him on par with Paul’s earnings. On paper, that looks like a fortune, but reality is far different once taxes are factored in.
Living in London means Joshua must pay the U.K. portion of his earnings in addition to the U.S. federal tax. Florida does not impose a state income tax, but the federal government will claim about 37 percent, which adds up to more than $34 million.
In addition, the U.K. tax authorities will collect over $7 million, with National Insurance contributions adding roughly another $2 million.
Altogether, Joshua’s tax bill approaches $45 million, slashing his take-home to around $50 million. Even after these deductions, it remains one of the largest net earnings for a boxer in recent history.
Joshua’s tax hit highlights the difference between him and his American opponent. Paul, a U.S. resident, avoids U.K. taxes entirely, keeping a larger share of his paycheck.
Joshua, on the other hand, is taxed on both sides of the Atlantic, significantly cutting into what he walks away with.
Despite that, the knockout victory cements his reputation as a dominant force in heavyweight boxing.
