Boxing promoter Jake Paul has offered Will Smith and Chris Rock $15 million each to enter the ring and settle their differences, following Smith's slap of Rock during the Oscars ceremony on Sunday, according to Reuters. Smith had gone on stage during the televised event and slapped Rock in the face after a joke made by the comedian about Smith's wife’s appearance. Paul, who runs Most Valuable Promotions, tweeted: "I have $15 million ready for Will Smith and $15 million ready for Chris Rock." He added: "Let's do it in August." Rock declined to press charges against Smith, who won Best Actor after the incident. Celebrity boxing matches have gained popularity in recent years, contributing to the rise of figures like Paul and his brother Logan, who gained fame online before moving to boxing. On Monday, Smith publicly apologized to his colleague Chris Rock on Instagram for slapping him over a joke that mocked Jada Pinkett Smith's bald head, as she suffers from alopecia. Smith wrote: "Chris, I want to publicly apologize to you. What I did was out of line and I was wrong. I’m embarrassed, and what I did doesn’t reflect the man I want to be."