50 Cent, Floyd Mayweather and his new watch (inset)

The world’s richest athlete has spent a copious amount of money on a new watch.

Boxer Floyd Mayweather, who was listed as the best paid athlete for the fourth time in seven years by Forbes, reportedly purchased ‘The Billionaire Watch’ for a whopping $18 million (Sh1.8 billion)!

The flashy boxer couldn’t keep news of the purchase to himself, as he took to social media sharing a video of the diamond-studded timepiece.

“This my new timepiece, it's called ‘The Billionaire Watch’. If you don't know about it, google Billionaire Watch. That's $18 Million on the price tag” Mayweather stated.

Following the reveal, rapper 50 Cent threw shade at the boxer, referring to him as ‘dumb for purchasing the watch.

“Man they done found the 1 fool in the world, dumb enough to buy that watch” 50 Cent said.

Mayweather, who goes by the nickname ‘Money’, earned $275 million (Sh27.5 billion) from last year’s fight against Irish Mixed Martial Arts champion McGregor.

The fight pushed Mayweather’s career earnings to $1 billion (Sh100 billion), joining American basketball great Michael Jordan and golfer Tiger Woods as the only athletes to have reached 10-figures in earnings.