Dubai, UAE: Boxer Amir Khan, who has become the latest celebrity to choose private equity ahead of other investment options, has some simple advice for anyone who fears losing money by talking to the wrong financial partner.
“There are a lot of people out there who will promise you the world, but if it sounds too good to be true, it is,” says the 32 year old British fighter who has built an estimated $30 million fortune and used much of it outside the ring to help good causes.
“My advice to anyone with money that other people want to get their hands on is – do your research, ask as many questions as you can, trust your gut instinct and try not to surround yourself with ‘yes’ men.”
Khan, who admits to making some bad decisions earlier in his career, has since been wise enough to protect his earnings against the financial traps that have broken many other boxing stars, among them former world champion Mike Tyson who squandered $300 million on his way into bankruptcy.
He now says one of the best “money decisions” of his career was shaped in Dubai, where he’s a regular visitor and hopes to have one of his last pay days before retiring from boxing.
Khan recently turned to Berkeley Assets, the private equity firm with offices in Dubai and London, to help build more financial security for himself and his family. The company brought him out to the emirate in December to unveil him as their brand ambassador and discuss new business opportunities.
Looking after his interests in Dubai is Omar Jackson, Partner of Berkeley Assets, who will be ringside for Khan’s next bout with American Terence Crawford on 20 April in Madison Square Gardens in New York City.
“Omar and his team are straight talkers who like to push the boundaries,” says Khan. “That fits in with my ethos. I know I’ve made one of my best money decisions.
“They’ve taught me a lot and I’m really looking forward to developing our business opportunities more in Dubai, which is like a second home to me.
“I decided to invest in private equity because it’s all about tangible assets like real estate and actual businesses, so everything is physically backed. This gives security to me and my family because I know there’s something solid behind my investment.”
Khan admits that he has only handful of fights left before retiring from the sport, and wants one of them to take place in Dubai.
“Quite a lot of things have to come together to make it happen, but one thing I’ve learnt in my career is that boxing can produce surprises, so don’t rule it out,” he says.
When he does hang up his gloves, he will continue his work as a philanthropist. The Amir Khan Foundation feeds the homeless, supports orphans and provides clean drinking water in the developing world, while also delivering hot meals, shelter, clothes and blankets to families and children fleeing the Syrian conflict.
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