Usain Bolt, the world’s fastest man and one of the most renowned athletes, has announced his retirement from professional athletics. After 12 years at the top of his sport, Bolt is set to end a career that has seen him set multiple world records and win numerous Olympic medals. A new report details how he prepares for his post-athletic life – with plans to invest a whopping $12 million in retirement funds.
How much money did Bolt lose?
Bolt is missing $12.7 million from an investment account he had with Stocks & Securities Limited, or SSL, an investment firm based in Kingston, Jamaica, the Associated Press reported Wednesday, citing a copy of a letter that Bolt’s attorneys sent the firm requesting the return of the money.
The attorneys also wrote, “If this is correct, and we are hoping it is not, then a serious act of fraud larceny or a combination of both have been committed against our client.”
Bolt first discovered that the funds were missing on January 11, according to a report from Jamaica’s English newspaper, The Gleaner.
The AP reported Wednesday that the attorneys threatened SSL with civil or criminal action if the money wasn’t returned to Bolt within ten days. However, a separate Bloomberg report on Wednesday said that Bolt plans to take the case to Kingston’s Supreme Court if the money isn’t returned in eight days.
Bloomberg reported that the funds in the account totaled $12.8 million and were part of Bolt’s retirement and lifetime savings. Bolt only has $12,000 left, his attorney, Linton P. Gordon, told the AP.
This isn’t the first time that SSL has faced allegations of fraud. The Jamaica Financial Services Commission, which oversees the regulation of Jamaica’s insurance, pension and securities industries, told Bloomberg on Tuesday that it had installed a temporary manager at SSL based on earlier reports of a fraud allegation.
What is the current net worth of Usain Bolt?
Usain Bolt, widely considered one of the greatest athletes of all time, has recently retired from professional track and field. The Jamaican sprinter has revealed that his retirement funds are estimated to be around $12 million. This number comprises endorsements, appearance fees, investments, and much more.
When it comes to Usain Bolt’s current net worth, it can only be estimated as he does not publicly disclose financial information. However, several sources have reported that his total net worth may be between $60-90 million USD, primarily due to endorsement deals with Puma, Gatorade, and Hublot Watches. Furthermore, these deals are rumored to run until 2023, which could see his wealth grow even after retirement.
What companies does Usain Bolt own?
Usain Bolt, the “world’s fastest man,” has long been a household name in athletics. On August 28th, 2020, it was revealed that Bolt had retired from track and field in 2017 and instead used his time to establish several successful companies. Usain Bolt owns multiple businesses ranging from sports-related to entertainment-based.
The 8-time Olympic gold medalist created a restaurant chain and a media production company in 2018 with partner Ricardo McConnell. The restaurant chain is called Tracks & Records and provides Jamaican cuisine for customers across Europe and the United States. His media company is named W00t Media Productions Inc., which focuses on producing television series, films, and music videos. In addition to these ventures, Usain also runs an eCommerce clothing line called Fastbolt Clothing Ltd.
How does Usain Bolt have so much money?
Usain Bolt is one of the greatest athletes in history. The Jamaican track and field star, who has set world records in the 100-meter and 200-meter dash events, retired from the professional sport at age 34 with an estimated net worth of $90 million. But how did he amass such a fortune?
Bolt’s wealth comes mostly from endorsements. Throughout his career, he accumulated approximately $12 million from contracts with major companies like Gatorade, Visa, and Puma. He also earned royalties from merchandise featuring his name or likeness. Bolt also received incentives for breaking world records and prize money for winning races, which helped boost his bank balance significantly over the years. His success has allowed him to live comfortably in retirement without worrying about financial stability.