Despite a resounding victory over Jake Paul, Anthony Joshua is set to lose nearly half of his total prize money from their lucrative heavyweight match. The former world champion knocked out the YouTuber-turned-boxer in the sixth round at Miami on Saturday, leaving his younger rival sprawled on the canvas with a double broken jaw. The bout, exclusively streamed on Netflix, saw the pair split an astounding £140million purse.

It equated to over £4m each for every minute they battled within the ropes. Joshua, however, will have to relinquish a significant portion of his earnings due to stringent obligations to both American and British tax authorities. He will be required to pay 37 per cent of his prize money to the IRS as the fight took place on American soil, making the payday subject to US income tax at the maximum rate.

Joshua, also known as ‘AJ’, will also need to cover the difference between what he owes in the UK and the tax already paid in the US, resulting in £5.5m going into HMRC’s coffers.

Additionally, the 36-year-old will have to fork out another £1.4m in national insurance contributions. In total, this leaves Joshua with a £38m windfall from the fight with £32m being deducted from his original pot in tax.

Despite this, he maintains that he’s not in it for the money.

“It’s not even my biggest payday, it’s not about money,” he said afterwards. “For me it was more about the opportunity. I had to showcase my skills.”

Even with a high tax rate, Joshua is far from cash-strapped.

The Sunday Times Rich List estimates his net worth at over £195m, thanks to earnings from previous fights and numerous profitable sponsorship deals with leading brands, as well as a thriving property empire.

Joshua has accumulated 29 wins throughout his professional career, including notable victories over Wladimir Klitschko and Dillian Whyte. Some of these bouts have been particularly lucrative, with an estimated £200m earned from just 10 of Joshua’s highest-paying matches.

Notable paydays include £54m from his rematch against undisputed world heavyweight champion Oleksandr Usyk and £36m from his second bout with Andy Ruiz Jr in 2019.

Joshua also profits handsomely from endorsements with companies such as Under Armour, Lucozade, Jaguar Land Rover and Hugo Boss.

His own company, 258 Group, manages London properties valued at around £75m. Joshua himself owns a selection of luxurious properties, including a massive £40m residence in his home county of Hertfordshire.