After renewing his contract with the Saudi Arabian club Al-Nassr, the Portuguese player had his fortune valued at 1.2 billion euros.

Cristiano Ronaldo has set yet another record by becoming the first footballer with an estimated wealth of more than a billion euros.

The player`s already considerable fortune increased in June when he renewed his contract with Saudi Arabian club Al-Nassr, which guaranteed the Portuguese another €344m, according to the latest Bloomberg Billionaires Index.

The player, who is currently 40, extended his time at the Saudi club - in which he still holds a 15% stake - until 2027.

In addition to the sporting contracts, Bloomberg also highlighted the player`s income from advertising contracts.

It reported that he had he earned more than 550 million dollars (€473m) in wages between 2002 and 2023, almost 18 million dollars (€15.5m) for a 10-year contract with Nike, and 175 million dollars (€150.6m) for other agreements with brands such as Armani and Castrol.

As well as the financial record, Cristiano Ronaldo has 665 million followers on Instagram, more than any other footballer on social media.

On Tuesday, Cristiano Ronaldo took part in the Portugal Football Globes gala, where he was honoured with the Prestige Award.

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"It`s not a career-ending award. I see it as recognising years of effort, dedication and ambition. I like to win, to help the new generations - and they also help me to maintain my level and keep competing," he told Channel 11.

"That`s what makes me tick: competing with the youngsters. I`m still passionate about it," he added.

On the same television programme, the Portuguese national team captain said he still loved playing football and representing the national team.

"People, especially my family, say: `It`s time to stop. You`ve done it all. Why do you want to score a thousand goals?`" he said.

"But I don`t think like that. I think I`m still producing good things," he added. "I know I don`t have many more years, but what little I do have, I will try to enjoy as much as I can."