Transcript excerpt from a Cracks Podcast episode featuring Mauricio Sulaiman discussing financial mismanagement among athletes (especially boxers) and lack of a saving culture. He gives anecdotes about Julio Cesar Chavez and Roberto Durán losing fortunes, mentions recovery efforts (sobriety, TV work), and notes initiatives by individuals (Ari Boroboy, Miguel Ayin) to help artists and soccer players invest wisely.
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He was deceived and defrauded and lost a lot of money, almost all of his money. And from there he went into a terrible depression that led him to addictions. Now, thank God, he has recovered and is here with us. Fine, but without money, Chavez, $90 million. My dad squandered it. He used to say, listen, Julio, fin from your fight with Camacho, we have to take half and put it in a trust, some savings that he can't touch. No, man, he would get angry. Ah, sir, my grandchildren won't spend the money I have, he would say. And he ended up broke. Thank God things have gone very well for him. He has been sober for 15 years and he works and he gets paid very well on tv. On TV he gives motivational talks, commercials, autograph signings. They pay him very well. He earns good money every month. Well, in the case of Roberto Duran, for example, he earned many millions of dollars. And sometimes he talks to us about medicines like that. Napples, butter. Back in the day, It wasn't millions of dollars, but it was a few million. But at that time it was a fortune. And my dad sees him at the racetrack, squandering money and with women and drinking and gambling. He only called them a few days later. Hey, buddy, they were buddies. Well, I didn't like what I saw that day. He said, look, buddy, I was a shoe shiner in Cuba and now I'm the king. If later I become a shoeshiner again, I don't care, I'm going to live like a king right now. And that's how it was. He died in absolute poverty. And there are many, many examples. In boxing it's much worse. Because you see, right, that they earn a lot of money and make it and then disappear. But this happens in soccer, baseball, in art, in almost all sports. There is no culture of saving. Yes, I think it's raising awareness. And for example, in the arts, I know that my friend Ari Boroboy is helping certain artists invest. Miguel Ayin intends to do something similar for soccer players. These are people who have seen it first hand, right? And there's more technology. Now. Anyone has access to educate themselves a little more. But traditionally, anyone who doesn't put a little thought into it will end up in misery. And what are you doing from the council to help.
