Richard Schaefer Net Worth

What Is Richard Schaefer's Net Worth?

Richard Schaefer is a Swiss-American sports executive who has a net worth of $40 million. Richard Schaefer is a professional boxing promoter, and he is the president of Anthem Sports Group. Schaefer co-founded Golden Boy Promotions with boxer Oscar De La Hoya in 2002, and he served as the CEO until he left the company in 2014. In 2016, Richard founded the boxing promotional company Ringstar Sports. In June 2024, Floyd Mayweather announced that he had hired Richard as the CEO of Mayweather Promotions

Early Life

Richard Schaefer was born in Switzerland. He began his career in finance in the early '80s. After graduating from the Swiss Banking School, he began working for Swiss Volksbank (Credit Suisse). From there, Schaefer became the manager of the Swiss Bank office in Los Angeles. Swiss Bank took over UBS, but kept the UBS name after the merger. He was subsequently promoted to Head of Operations for the western United States.

Career

In 2000, Richard left his banking career become part of Oscar De La Hoya's upstart business empire. He began as a boxing manager, but ultimately shifted his focus to promotion. He successfully lined up multiple lucrative television deals for matches to air in the Latino market. Schaefer also began investing heavily in real estate and is part of a $70 million redevelopment deal with De La Hoya.

Richard served as the head of Golden Boy Promotions until he stepped down abruptly in June 2014. He announced his resignation in a statement that read: "After more than 10 years with Golden Boy, it is time to move on to the next chapter of my career. This decision has required a great deal of personal reflection, but ultimately I concluded that I have no choice but to leave. I have succeeded in banking and I have succeeded in boxing, and I look forward to the next opportunity. I am proud to remain a shareholder, so I have a strong interest in the continued success of the company. I am proud of what we have accomplished at Golden Boy, but I now look forward to new challenges."

In 2016, Schaefer founded the boxing promotional company Ringstar Sports, which later merged with David Haye's Hayemaker Promotions, forming Hayemaker Ringstar. In March 2017, Richard announced the first-ever World Boxing Super Series, "two eight-man single-elimination tournaments in which 16 fighters will divvy up $50 million in prize money." He launched the media and boxing promotion company Probellum in 2021, and he became the president of Anthem Sports Group in 2023.

In June 2024, Floyd Mayweather hired Schaefer to be the CEO of Mayweather Promotions after the departure of Leonard Ellerbe. Mayweather stated on social media, "As we move forward, we are excited to announce that Mayweather Promotions will be joining forces with Richard Schaefer, a highly sought after finance expert and a phenomenal founder in the world of promotional boxing, with over forty years experience combined. Together, we will expand our presence by establishing Mayweather Headquarters in Los Angeles. Our goal is to elevate Mayweather Promotions to global success, supporting fighters worldwide and assisting them in making rewarding business decisions that will benefit them well beyond their boxing careers."

Personal Life

Richard had been married to his wife, Lilia, for nearly 20 years when he told her in 2000 that he would be leaving the world of banking. Lilia is from Mexico, and the couple has three sons.