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Why Muhammad Ali's estate could be worth more after his passing

What Will Happen to Muhammad Ali's Fortune?


Muhammad Ali cared more about helping people than growing his wealth, but could his estate be worth more now that he's passed?

According to the late legend's longtime friend, Tim Shanahan, Ali gave away much of his estimated $80 million fortune.

WATCH: Muhammad Ali's Daughters, Rasheda and Jamillah, Remember Their Father's 'Beautiful' Final Moments

"He had a love for money, but the reason he loved money was so he could give it away," Shanahan said. "He was never interested in spending money on himself."

Regardless of how his finances were handled while he was alive, the champ's fortune could grow exponentially in the wake of his passing.

See images of the legend:

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Muhammad Ali through the years
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Why Muhammad Ali's estate could be worth more after his passing
American boxer and sometime actor Muhammad Ali (then Cassius Clay) as Eric Sevareid interviews him during an episode of the CBS Evening News, New York, March 24, 1964. (Photo by CBS Photo Archive/Getty Images)
LAS VEGAS - OCTOBER 2,1980: Muhammad Ali (L) throws a punch against Larry Holmes during the fight at Caesars Palace, on October 2,1980 in Las Vegas, Nevada. Larry Holmes won the WBC heavyweight title by a RTD 10. (Photo by: The Ring Magazine/Getty Images)
JUL 14 1981; Ali, Muhammad (Boxer) - Ind.; (Photo By Lyn Alweis/The Denver Post via Getty Images)
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"Muhammad Ali sold the image and naming rights to Muhammad Ali that was held at a company he had set up about 10 years ago for $50 million," estate attorney Andy Mayoras told ET. "He retained 20 percent of that, which is still owned through this company he had set up, and should be controlled by his estate."

WATCH: Sharon Stone Recalls How Muhammad Ali Predicted She Would Be a Movie Star When She Was 17

The estates of stars like Elvis Presley and Michael Jackson saw huge spikes in earnings following their deaths, and it seems like Ali's estate may go in the same direction.

Last year, Under Armour used the late fighter's image for a clothing line and audio from an epic speech Ali made before his 1974 Rumble in the Jungle fight with George Forman was used in a Super Bowl commercial featuring Paralympian Amy Purdy.

Ali died on June 3 after a 32-year battle with Parkinson's disease. He is survived by his nine children (Rasheda, Jamilla, Laila, Asaad, Hana, Maryum, Khaliah, Muhammad Jr. and Miya) three grandchildren (Curtis, Sydney and Biaggio) and wife Lonnie, who were with him during his final moments.

WATCH: Celebs and Athletes Mourn the Loss of Muhammad Ali

The family will gather in Louisville on Thursday to pay tribute to their father with an Islamic funeral prayer program. Muhammad will then be buried on Friday following a funeral service, featuring Bill Clinton and Billy Crystal as speakers and Will Smith as a pallbearer. Get more details in the video below.


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