BOB ARUM’S NET WORTH 2022

Growing Up:

Robert Arum was born in Brooklyn, New York on December 8, 1931. Bob was raised in Crown Heights in an orthodox Jewish household before attending Harvard Law School. During this time, he referred to many of his Harvard classmates as “snooty,” and he concentrated on his studies. Eventually, he received his summa cum laude and immediately began his legal career.

Legal Profession

Arum began his career as an attorney in the Department of Justice during the Kennedy administration, but he changed his focus after both John and Robert were assassinated in the 1960s. Bob later worked as a lawyer for several Wall Street firms, including Phillips, Nizer, and Krim & Ballon.

During this time, he researched the details of Kennedy’s assassination, eventually assisting his senior partner Louis Nizer in the creation of the Forward to the Warren Commission Report. However, Arum was well aware that a legal career would not suit him, as he was witnessing far too many deaths on a daily basis.

Not only were Robert and John F. Kennedy assassinated during his tenure at the Justice Department, but Floyd Cramer’s high-profile suicide in 1963 also convinced him to pursue other opportunities. Cramer, the president of Washington Heights Savings and Loan Association, had been charged with mortgage tax evasion shortly before committing suicide. This, according to Arum, convinced him that he was not “cut out to be a prosecutor.” Nonetheless, Bob continued to practice civil law until 1979, while also dabbling in boxing promotion.

Controversy

Throughout his career, Arum has been embroiled in numerous controversies. He became a rival of Don King, another legendary boxing promoter, as he rose to prominence. He and Dana White have had their fair share of squabbles over the years as well. He admitted in the year 2000 to paying IBF president Robert W. Lee $200,000 in two installments as a bribe to get a fight approved. Arum was only sanctioned and fined by the Nevada State Athletic Commission as a result of his testimony, whereas Lee was charged with racketeering.

Oscar De La Hoya won his lawsuit against Arum in 2001 and was released from his Top Rank contract. The FBI raided Top Rank’s Las Vegas headquarters in 2004. At the time, Arum was on vacation, and the FBI allegedly investigated reports that Top Rank was planning to fix an upcoming fight. The investigation was concluded in 2006 with no charges filed.

Floyd Mayweather Jr. accused Arum in 2007 of underpaying and exploiting him during his early career. Floyd later refused to comment on the situation. Arum once sued HBO for attempting to become a boxing promoter and attempting to destroy his business. Bob claimed that HBO erred in dropping Mayweather from an exclusive deal, and the dispute was settled out of court. The suit was eventually settled out of court, but Arum continued to criticize HBO, claiming that boxing promoters did not require the network.

Bob Arum accused the state of California of being racist in 2009 after it revoked Antonio Margarito’s boxing license due to illegal hand wraps. That same year, he was accused of racism after referring to UFC fans as “skinheads.”