Mike Tyson Net Worth: Mike Tyson is a retired American boxer who was the undisputed heavyweight champion of the world in the late 1980s. During his heyday Mike was among the most famous and highest-paid athletes on the planet. He was the youngest winner ever, at age 20. Unfortunately he squandered and/or was bilked from a private fortune that topped $300 million in his peak. Mike declared bankruptcy in 2003. According to the bankruptcy filing, he allegedly $23 million in debt at the point.
Throughout his career Mike Tyson earned at least $430 million in purses and exemptions, roughly $700 million after adjusting for inflation.
ESPN called him”The Hardest Hitter at Heavyweight History,” and Sky Sports dubbed him”the most ferocious fighter to step into a ring.” Although Tyson was a gifted fighter, his reputation was marred by controversy in and out of the ring.
Mike Tyson was born Michael Gerard Tyson on June 30th of 1966 in Brooklyn New York. Tyson grew up in a rough neighborhood, and his stepfather was involved in crime and gaming. When Tyson was ten, he and his mother moved due to financial troubles. By age 13, Tyson was detained for 38 crimes, frequently fighting larger youths who made fun of his voice (Tyson talks with a lisp). During college, Tyson’s fighting capability was detected by a juvenile detention teacher and a former fighter. After working with a few coaches, he linked up with Cus D’Amatto — a coach who would have a massive influence on the upcoming boxing champ. When Tyson’s mother passed away when he was 16, D’Amatto became his legal guardian. Tyson also worked with Kevin Rooney from a young age.
Early Boxing Career
Tyson’s first experiences with professional boxing were at the Junior Olympics, where he won gold medals in 1981 and 1982. He also fought at the 1984 Summer Olympics but dropped against Henry Tillman in two bouts. Tyson’s first professional fight came at age 18, and he beat Hector Mercedes with a first-round TKO. This would begin an increasing tendency for Tyson, who frequently ended struggles in the first round. Tyson continued to fight opponents who were harder than those he had faced before, with many predicting an early rise to stardom. Cus D’Amatto expired in 1985, and Tyson missing an important father figure early in his career. Many later said that this could prove to have a synergistic impact on Tyson’s subsequent life.
Tyson really arrived on the world stage with a nationally televised fight against Jesse Ferguson. After Tyson captured Ferguson with an uppercut that broke his nose, the effect of the fight was obviously inevitable. Tyson won after Ferguson was disqualified for illegally clinching.
Another televised event came when Tyson took on Marvis Frazier, a former world title challenger. Tyson won in only 30 minutes using a knockout. In 1986, Tyson beat Trevor Berbick in the second round to become the youngest heavyweight champion ever. In 1987, he defended his title against James Smith to become the undisputed heavyweight world champion. That same year, he took on Pinklon Thomas in a 12-round struggle to win the IBF title. This made Tyson the first heavyweight to hold all three key belts at exactly the exact same time.
In 1988, Tyson beat Larry Holmes, a former champion, and knocked him out in the fourth round. Tony Tubbs suffered a similar fate that year since he suffered a TKO in the second round. Tyson rounded out the year with a victory against Michael Spinks. Although a lot of pundits predicted a difficult fight for Tyson due to Spinks’ technical skill, Tyson knocked him out in just 90 minutes.
From there onward, Tyson’s career seemed to go back. After a variety of personal problems arose, Tyson decided to fire Kevin Rooney — the man credited with constructing Tyson into a leading fighter following D’Amatto’s death. Even though Tyson continued to win conflicts in 1989, his career would suffer a significant blow when he lost to Buster Douglas 1990. Having lost his mother to a stroke 23 days before the fight, Douglas fought with passion and devotion. In the tenth round, Douglas unleashed a mix that sent Tyson to the canvas for the first time in his career. He was counted out by the referee in one of the most shocking upsets of sporting history.
Tyson continued to triumph in 1991 before legal problems halted his career. After being arrested for rape, Tyson spent six years behind bars. In this period, Tyson converted to Islam. Upon launch, Mike Tyson was lawfully required to register as a sex offender.
Tyson’s comeback was successful initially, and he knocked out a variety of competitions to recover two of his straps. But he then lost his WBA belt when Hollyfield came back from retirement to deal Tyson a TKO in round eleven. Tyson dropped again in the rematch when he controversially little Hollyfield twice and was disqualified consequently. Worse, Tyson had his boxing license rescinded in 1997.
In 1999, Tyson returned to professional boxing once again to knock out Francois Botha — only to return to prison for 9 months after allegedly assaulting two motorists. When he returned to boxing once more, he knocked out a number of fighters in rapid succession, either at the first or second round. In the year 2000, he pumped out Lou Savarese in 38 seconds.
Tyson’s last professional success was in 2003 when he beat Clifford Etienne in 49 seconds. Following several attempted comeback fights, accidents, and beats, Mike Tyson retired in 2005.
Cus D’Amatto educated Mike Tyson that the”peek-a-boo” style of defensive boxing, which involved a top guard and quick head movements. This is also an aggressive kind of counter-punching which is determined by charging the opponent, making him swing, and then taking advantage of openings. Tyson was famous for his intense punching power in addition to his ability to bob and weave. A substantial quantity of Tyson’s punching power came from his legs, and he was famous for landing a right hook and then an uppercut to complete fights.
In 1987, Mike signed a $27 million 8-fight contract with HBO that ran through his bout against Alex Stewart. Tyson defeated Alex Stewart in just two minutes and 27 minutes. Then he signed a long-term $120 million deal with Showtime that covered several games such as Holyfield I and II.
Throughout his career, Mike earned at least $430 million from conflicts and exemptions. That is exactly the same as approximately $700 million in today’s dollars.
For years it was widely understood that a sizable chunk of his earnings, at least his pay-per-view earnings, were taken by promoter Don King. A court case would later show that Mike’s contract with King eligible the promoter to 30 percent of his earnings. This was technically illegal in Nevada. It has been alleged that following mysterious extra charges, Don would take 50 percent off the top before cutting a check to Mike. Example fees would include $100,000 per struggle to his Don King’s wife as a consultant fee. Don King’s sons were also paid $50,000 per-fight consulting charges. At his peak, Mike was paying the President of the Mike Tyson Fan Club $1,000 a week. The President turned out to be Don King’s daughter.
Sometimes his earnings were garnished by creditors such as the IRS. For instance, Tyson was paid $8 million to fight Danny Williams in 2004. Unfortunately $6 million of these earnings were straight garnished by the IRS, leaving Mike with $2 million for his efforts.
Below is a fight-by-fight breakdown of Mike’s paydays between November 1986 and his ultimate professional fight in 2005. As you can see, his biggest payday BY FAR was the $103 million he earned fighting Lenox Lewis in 2002. Of that $103 million, approximately $75 million has been from a pay-per-view bonus.
|Mike Tyson Career Earnings|
|Tony Tubbs||$10,000,000||$21 million|
|Michael Spinks||$20,000,000||$42 million|
|Frank Bruno I||$8,000,000|
|Donovan Ruddock I||$6,000,000|
|Donovan Ruddock II||$10,000,000|
|Peter McNeeley||$25,000,000||$42 million|
|Frank Bruno II||$30,000,000||$50 million|
|Evander Holyfield I||$30,000,000|
|Evander Holyfield II||$30,000,000||$49 million|
|Lennox Lewis||$103,000,000||$148 million|
Spending A Fortune
Mike lived a famously lavish lifestyle at his peak. He wasted countless mansions, cars, jewelry, extravagant presents for strangers and just a group of Bengal tigers. His dinosaurs cost $70,000 a pop and were put in a custom-built habitat in his yard. Mike kept an animal trainer on staff at a cost of $125,000 each year.
Mike lavished money on his entourage too. As only one example, he maintained a person on staff whose sole purpose was to wear military fatigues and shout”guerrilla warfare” at press conferences. For his services, this individual was paid $300,000 each year.
Mike was imprisoned between 1991 and 1995. In the 3 years immediately after his release, Mike spent the following amounts:
$4.5 million on cars and motorbikes (19 vehicles he purchased for friends)
$400,000 on pigeons and a Number of big cats like Siberian tigers
$300,000 on lawn care and garden maintenance alone
$240,000 per month for walking around money He spent in daily life flexing
$230,000 on Mobile Phones, pagers, and phone bills
$125,000 annually for an animal trainer to take care of the big cats
$100,000 a month on jewellery and clothes
He also bought several houses. His 21-room Connecticut mansion could later be possessed by 50 Cent. This mansion featured a nightclub and casino. Mike also bought homes in Las Vegas, Ohio, and Maryland. His Ohio mansion comprised gold-plated furnishings, pools and a basketball court. His $4 million Las Vegas property featured an 11,000 square-foot mansion he proceeded to remodel from scratch.
Mike has owned well over 100 cars throughout his life. Some were extremely valuable and rare. He possessed a Bentley that was one of 73 total produced and cost $500,000. Following a Range Rover in 1995, he told the repair shop to”keep it”. He would frequently lend cars to friends and acquaintances then forget about them. He purchased 20 cars at one Las Vegas automobile . This dealership, Jim Chaisson Motors, is where Mike spent $1.5 million in a few minutes one day, purchasing five Bentley Azures. The dealership just had two in stock and had to order the remaining five fast-tracked from Rolls-Royce.
Among the most outlandish purchases Tyson ever made was a $2 million gold bathtub for his first wife, actress Robin Givens. According to legend, he would occasionally buy strangers lavish gifts like $100,000 watches.
Personal Appearance Fees
Mike has called Las Vegas home for much of the past two decades. In Vegas he earns a healthy living making personal appearances at parties and corporate events. Mike costs $75,000 for a two-hour personal look.
Mike has been married three times. He has six children. He’s a Muslim and clinics sobriety.