Usain Bolt is the richest track athlete in the world. In 2018, Forbes listed the retired sprint legend’s fortune at US $31 million, so if he’s giving us money advice, we’re taking it!
In an interview with CNBC, the 35-year-old admitted that he wasn’t always good with his money. After his Olympic debut in 2004, he admitted that he got into the habit of spending too much.
“When I started coming up, I spent a little bit more than I wanted to,” he told the outlet.
But he was lucky enough to be surrounded by people who understood finances and took the time to explain it to him.
“I have to give credit to my team,” Bolt says. “They’ve really helped me to understand how to save,” he said.
And now, he’s giving you some advice; “I tell people if you make $10, save $6, and then you can figure out what to do with the rest. Then you can spend the rest and pay bills.”
Bolt has a lifetime sponsorship with Puma, and recently signed a spokesman deal with Carmax. He’s also a real estate investor, and co-founder of the electric scooter company Bolt Mobility.
He also emphasized the importance of athletes diversifying their income.
“There are a lot of athletes out there who got injured,” Bolt says, “And that’s something that I learned and I saw with my own eyes.”