Cristiano Ronaldo Photo: File
DURBAN - Cristiano Ronaldo is the third richest athlete according to Forbes, but just how did he make his money and how does he spend it.

How did Ronaldo make bank?

This Portuguese footballer earned $108 million (R1.4 billion) in the past year according to Forbes.

His contract with Spanish football club Real Madrid accounts for more than half of his earning. Ronaldo got paid $61m last year in salary and bonuses. If Ronaldo leaves Real Madrid, the club that buys him will have to pay $1bn in a buy-out.

Ronaldo made $47m in endorsements this past year. He has endorsement deals with companies like Herbalife, Tag Heuer, Castrol, Samsung and KFC.

However, his biggest endorsement deal is with Nike. Ronaldo recently signed a new deal with the company that will reportedly pay the soccer star $19 million every year for the rest of his life.

Image may contain: 1 person
Cristiano Ronaldo Photo: Facebook

What does Ronaldo spend his money on?

Ronaldo loves fast cars and is not afraid to spend money on the cars that he loves. According to GQ India, the Portuguese footballer owns cars like the Bugatti Chiron and the Lamborghini Aventador LP 700-4.

Other cars in his collection include the Mercedes Benz GLE 63 and the Ferrari 599 GTO.

Image may contain: car
Cristiano Ronaldo's Bugatti Chyron Photo: Facebook

Besides cars, Ronaldo also invests in property. Currently, he owns a villa in La Finca, Madrid that costs $7,1 million. In 2015, he reportedly purchased an apartment in the Manhattan Trump Towers in New York.

The New York apartment cost him $18,5 million more than twice the value of his villa in Madrid.

More than just being a footballer, he is also a businessman and a philanthropist.

One of his businesses is a football-themed hotel called Pestana CR7. The hotel is located in Ronaldo's hometown of Madeira.

Image may contain: sky and outdoor
The Pestana CR7 Hotel Photo: Facebook

Ronaldo the philanthropist has donated hundreds of thousands of dollar to charity. According to the Independent Ronaldo raised £600,000 for the Mae-A-Wish-Foundation by selling his Ballon d'Or award.

Tax problems

Spanish tax agency Agencia Estatal de Administración Tributaria (AEAT) alleged that Ronaldo understated certain income between 2011 and 2014 on money that was coming through an off-shore company called Tollin Associates.

The tax authority wants Ronaldo to pay $32,5 million and they recently rejected his offer to pay back $16,25 to settle his case. If a settlement has not been reached then Ronaldo will go on trial after the World Cup.