Muhammad Ali's death saw the passing of the greatest boxer, if not sportsman, of the 20th century, leaving his family a substantial inheritance from a fortune he accumulated throughout his lifetime.

The boxing icon died last Friday after suffering from Parkinson's disease for over two decades. He is survived by his fourth wife, Lonnie, whom he married in 1986, his nine children, and a brother named Rahaman Ali.

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It was Lonnie and her sister Marilyn Williams who looked after the boxer as his conditioned worsened.

Forbes estimates Ali's net worth at least $50million and it is believed Lonnie will be the sole executor of his will. Ali's former wives, children and even his brother could sooner or later scramble to take a slice of his legacy.

While the late boxer's paycheck during his heydays were paltry compared to the eight- or nine-digit earnings enjoyed today by the likes of Floyd Mayweather or Manny Pacquiao, Ali was the biggest boxer of his era-and no doubt in boxing history.

While he was not the first boxer to earn $1 billion in one match (the feat goes to Gene Tunney who got paid $1 million for a fight) the $8 million he earned on October 10, 1980 even if he faced defeat from Larry Holmes was a figure was unheard of at that time.  Adjusted to inflation that would be $22 million today.

Earlier in 1975, in his most famous bout called the 'Thrilla in Manila,' Ali pocketed $6million after defeating Joe Frazier.

But just like any athlete who enjoyed a substantial windfall, Ali also has had his share of misgivings, squandering his money to the point of near-exhaustion. His extended family members were also to blame. In fact, by the mid-80s, it was believed that he was at the brink of bankruptcy until his representatives came in to help him recover his millions through licensing and endorsements. That was when Ali formed the firm GOAT LLC (Greatest Of All Time).

He encashed his stake after selling 80% of his shares for $50 million in 2006. The remaining 20 percent provided the Champ with $5-7 million a year until his death.

If Ali's heirs decide to sell his remaining stake in the company, they could well fetch additional $30-50 million from any future deal. 

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