Serafim Todorov, the last man to beat Floyd Mayweather in the boxing ring, now lives on a £370-a-month hand out from the Bulgarian government. The 45-year-old beat Mayweather in the featherweight division semi-finals at the 1996 Olympic Games in Atlanta, but his life today couldn't be any further apart from the American's. Mayweather is preparing for one of the biggest fights in boxing history against Manny Pacquiao in Las Vegas on May 2 and is unbeaten in 49 professional fights. Serafim Todorov is the last man to beat Floyd Mayweather, doing so at the 1996 Olympic Games in Atlanta . Todorov (left) lives in a remote town in Bulgaria while Mayweather is one of the richest athletes in the world . Mayweather is unbeaten in 47 professional contests and considered one of boxing's all-time greats . Todorov, meanwhile, lives in an apartment in the remote town of Pazardzhik in southern Bulgaria and shares a Volkswagen Polo with his wife. He told The Sun: 'I live on just a hand out from the state, the money I get from the government is not enough, my family have no jobs. 'It's hard here because it is a small town and there is very little work. 'I get about 500 Euros a month but I have to pay back the bank or loans, I own the apartment I live in but there are still bills to pay. 'I did have a bigger house in my home tow Peshtera, 20km from where I live now but I had to sell because I had no money to get by.' The unbeaten American is regularly seen on social media showing off his piles of cash and jewellery . Todorov (right) is beaten by Somluck Kamsing in the featherweight final at the 1996 Atlanta Olympic Games . The semi-final bout ended in controversy as the referee mistakenly raised Mayweather's hand, but Todorov won the bout by one point, leading to protests from the US team. Todorov was beaten by Thai boxer Somluck Kamsing in the Olympic final at Atlanta 1996 and fought just six times professionally. The Bulgarian won five of his bouts between 1998 and 2003, losing once to Toni Naskovski in Macedonia in 1999.
Serafim Todorov beat Floyd Mayweather at 1996 Olympic Games .
Bulgarian won by one point in featherweight semi-finals in Atlanta .
Todorov now lives in an apartment in Bulgaria on £370-a-month handout .
Mayweather preparing for $300m mega-fight against Manny Pacquiao .