How Mike Tyson Lost So Most Of His Money

Mike Tyson is always in the headlines, whether for his Boxing accolades or his much-discussed lifestyle. Tyson’s in-ring career took him into popular culture, performing in movies like Hangover, IP Man, Rocky Balboa, and guest appearing in TV shows like How I met your mother, The Last O.G., Webster, and many others.

Tyson recently made his boxing comeback in an Eight-round split draw vs. Roy Jones Jr, and you can easily follow him on his new podcast – “Hotboxin with Mike Tyson”

Boxing Style

Cus D’Amatto trained Mike Tyson the “peek-a-boo” defensive boxing style, which included a high guard and fast head movements. This is also an attacking style of counter-punching which depends on charging the opponent, making him sway, and then taking the benefit of openings. Tyson has been recognized for his ultimate punching power as well as his strength to bob and weave. A significant amount of Tyson’s punching power came from his legs, and he was remembered for landing a right hook and then an uppercut to finish fights.

How old is Mike Tyson?

Michael Gerard Tyson was born on June 30, 1966. As of 2021, he is 55 years old.

How tall is Mike Tyson?

Mike Tyson is 5 feet 11 inches or 1.8 meters in height. 

How much is Mike Tyson worth right now? 

According to sources, Mike Tyson’s net worth is just $3 million as of 2021.

For someone who’s had such a remarkable career as Tyson’s had, money shouldn’t be a problem.

However, he lost most of that money due to lawsuits and being a lucrative spender, which involved purchasing expensive mansions, cars, and we all know the story of the big cats he had. In 2003, Tyson filed for bankruptcy, as it was told he was $23 million in debt.  

Podcasting and his recent bout with Roy Jones Jr. have contributed to the recent hike in his net worth.

Mike Tyson’s Career Earnings

Even after being cheated of millions of dollars from his personal fortune, Tyson made around $375 Million through fight purses.

Mike Tyson Endorsements

In 1986, when Tyson became the youngest heavyweight champion in history, he got advertisement deals from influential brands like Pepsi, Eastman Kodak, Nintendo, EA Sports, to name a few. However, when it came out that Tyson was hitting his then-wife Robin Givens, brands naturally started to distance themselves from him.

Tyson cleared his public perception by appearing in numerous movies and TV shows, which made him get new endorsements. Some of his recent contracts include Parimatch, Smart Cups, Manscaped, and CopperGel.

Mike Tyson’s House

Tyson currently lives in Henderson, Nevada. As reported by The Sun, Tyson bought the 8,148 square-foot mansion in 2016 for £2.5 million. 

Mike Tyson’s Investments 

Apart from small business ventures, Tyson had his eyes set on legal cannabis. Hence, in 2017 he established the ‘Tyson Ranch’, which sells approximately over £500,000 worth of Medical Marijuana per month. 

He hosts his successful podcast, “Hotboxin’ with Mike Tyson” near the ranch.  

How Mike Tyson Lost so much money

Tyson revealed that coming from the streets, he never learned how to manage his money. He was seen as a careless spender. He often bought expensive houses, cars, and big wild animals. Millions also exploited him by his promoter Don King. Tyson later sued King for 100 million dollars.

He lost all his endorsement contracts as in 1992, Tyson was sentenced of rape and sentenced to 6 years but was freed on parole after serving half the term.

Due to all this, once the heavyweight King of the world filed for bankruptcy in 2003, as it was reported he was $23 million in debt.

In an interview with Graham Bensinger, Tyson was asked about his spending habits, and he had this to say-

That’s just how I lived my life. That’s my addictive personality, that’s a lot of things, that’s my ego, that’s so many other things,”

“From me being poor and never having anything, from me being bitter, angry from being in prison. It stems from a lot of things.”

What does Mike Tyson Spend money on

As discussed above, Tyson was a big spender. He purchased cars like 1997 Bentley Continental T for 500,000 dollars, Jaguar XJ220 for a reported 470,000 dollars, and a Bentley Azure, which cost him a huge 1.5m dollars. 

The famous pet tigers that he had reportedly cost him about $60,000 per tiger. Tyson also paid nearly $400,000 for taking care of his precious pigeons and tigers.

You Might Also Like