Jake Paul is back in good graces with Uncle Sam, after paying off a massive multi-million dollar tax lien.
According to legal documents, obtained by The Blast, the ‘YouTube’ star turned boxing champion owed the Federal Government $2,055,014.72 and they filed a lien against him. The filing says the huge amount owed was for taxes for the year 2017.
That’s right, Jake Paul makes so much money — he owned over $2 million in taxes. Plus, don’t forget, that is just Federal taxes and doesn’t include state taxes. Also, the document doesn’t reveal if any other taxes were paid that year, or if this was the total bill.
Jake Paul Owed Tax Collectors Over $2 Million!
The good news, a “Certificate of Release” was filed by the Government, showing that Jake paid the entire unpaid balance and is currently in good standing with Uncle Sam.
How is that possible…you ask? Well, Jake Paul is an extremely wealthy young man!
According to recent reports, Paul’s net worth is in excess of $100 million. The Youtuber had a hugely successful 2021, which included beating Ben Askren and Tyron Woodley in the boxing ring, and generating over $40 million in just those two fights.
‘YouTube’ Star Jake Paul’s Net Worth Is Over $100 Million
Jake Paul opened up about his massively growing wealth, saying it includes factors like NFT’s and other investments. “That is just what I made from boxing [$40 million],” Paul told Fox Business. He continued, “I made some more on top of that from brand deals and advertisements.”
Adding, “That is not including my crypto investments, NFT investments, Metaverse investments. If I were to cash out, yeah I have probably made an extra $60 million on top of that just from my investments last year if I were to liquidate it.”
Jake Paul Invested In Bitcoin When He Was Just 16 Years Old!
Interestingly, the influencer explained his lucrative cryptocurrency strategy, saying, “I put money into Bitcoin when I was sixteen years old but I am a long-term holder so I can add to the retirement fund. I have my team at Morgan Stanley and they handle all this stuff. I am more into the Crypto side of things and they tell me what kind of traditional stocks I can put into.”
BTW — Jake Paul still earns a ridiculous amount of money on Youtube. In 2021, JP was the #2 highest-paid player with $45 million in revenue. The only person paid more is Mr. Beast, who raked in an astounding $54 million. Interestingly, Jake and his brother — Logan — would most likely be the highest-paid Youtuber’s if it wasn’t for the backlash over a video from the suicide forest in 2017.
At the time, Logan shared a video from the Japanese forest — which is known for its constant attachment to people taking their own lives. Fans believed it was in poor taste, and the backlash affected both brothers. The company demonized them, and they reportedly lost several sponsors.
Now, the brothers are back earning on the platform, but not at the level they were prior to the incident.
The bottom line is…Jake Paul is so rich, he was able to pay off a $2 million tax lien in one stroke.
Must. Be. Nice.
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