Floyd Mayweather Was Last Defeated By Serafim Todorov, A Boxer Whose Life Couldn’t Be More Different On $435 A Month
In the world of professional boxing, Floyd Mayweather Jr. is a name synonymous with success, wealth, and an undefeated record of 50-0. Known as “Money” Mayweather, he has amassed a fortune estimated at over $1 billion, with lavish purchases like $25,000 mouthguards and a lifestyle that includes private jets and sprawling mansions. Yet, the last man to defeat him in the ring, Bulgarian boxer Serafim Todorov, lives a starkly different life, scraping by on a modest pension of $435 a month in the small town of Pazardzhik, Bulgaria. Their contrasting paths since their fateful encounter at the 1996 Atlanta Olympics highlight the unpredictable nature of sports and the divergent trajectories that talent, choices, and circumstances can create.
The pivotal moment came on August 2, 1996, in the featherweight semifinals of the Atlanta Olympics. Mayweather, then a 19-year-old prodigy with a Golden Gloves background, faced the seasoned 27-year-old Todorov, a three-time world amateur champion and two-time European champion. Todorov, at the peak of his career, was a polished and confident fighter, known for his playful in-ring antics, such as tapping opponents on the shoulder to taunt them. The bout was a close one, ending in a controversial 10-9 decision in Todorov’s favor. Many, including Team USA, believed the judging, particularly by Bulgarian judge Emil Jetchev, was biased, and the referee even mistakenly raised Mayweather’s hand before correcting the call. This loss marked the end of Mayweather’s Olympic gold medal dreams, leaving him with a bronze, while Todorov advanced to the final, only to lose to Thailand’s Somluck Kamsing and settle for silver.
What followed was a turning point that would define their lives. While in doping control after the fight, Todorov was approached by American promoters offering a lucrative professional contract. Confident he would win Olympic gold and return to Bulgaria as a national hero with promised financial support from the Bulgarian Boxing Federation, Todorov declined the offer without hesitation. In a twist of irony, those same promoters then turned to Mayweather, who signed with them, launching a professional career that would make him one of the richest athletes in history. Todorov, however, returned to Bulgaria, where the promised support never materialized. His decision to stay loyal to his amateur career and his country set him on a path of hardship.
Todorov’s life after the Olympics took a downward spiral. The Bulgarian Boxing Federation’s failure to deliver financial backing left him struggling to support his family. In 1997, he attempted to switch nationalities to represent Turkey at the World Championships, lured by a potential $1 million payout for a gold medal. However, the Bulgarian federation blocked the move, effectively stunting his career. By 2003, after a handful of professional fights, Todorov retired. His life became one of financial struggle and personal challenges, including bouts of depression. He worked various jobs, from driving to working in supermarkets and a sausage factory, to make ends meet. Living in a modest apartment with his wife, son, and daughter-in-law, Todorov’s neighborhood in Pazardzhik is marked by poverty, with drug dealers and underworld figures offering him illicit opportunities, which he consistently refused.
Despite his hardships, Todorov harbors no resentment toward Mayweather. In interviews, he has expressed admiration for Mayweather’s achievements, stating, “I congratulate Floyd because everything he achieved in his life, he achieved with hard work.” Todorov’s regret lies not in Mayweather’s success but in his own missed opportunities, particularly the decision to turn down the American promoters. “If I were there right now, I would tell myself to sign the contract and stay in America,” he told CNN in 2015. His loss in the Olympic final and the subsequent fallout with his federation fueled a bitterness that he believes stemmed from unfair judging, a sentiment that echoes the controversy surrounding his victory over Mayweather.
In a poignant reflection, Todorov has said he sometimes wishes he had lost to Mayweather in 1996, believing it might have kept him focused on boxing rather than leading to the depression and disillusionment that followed. While Mayweather’s career soared, with earnings like $180 million from his 2015 fight against Manny Pacquiao, Todorov’s dream of opening a small gym by the Black Sea remains just that—a dream. In 2015, at age 46, he briefly returned to the ring, winning a four-round welterweight bout, but it did little to change his circumstances. A documentary about his life, directed by Robert Kolodny, is slated for release in 2025, aiming to shed light on his story.
The tale of Mayweather and Todorov is a stark reminder of how a single moment can alter destinies. Mayweather’s bronze medal became a stepping stone to greatness, while Todorov’s silver led to obscurity. Their story underscores the harsh realities of sports, where talent alone isn’t enough—choices, timing, and luck play equally critical roles.
