Mike Tyson’s net worth is ten million dollars.
How much money is Mike Tyson worth?
Mike Tyson is a retired American boxer. In the late 1980s, he was the undisputed heavyweight champion of the world. Mike Tyson has a net worth of $10 million as of this writing. Mike was one of the most famous and highest-paid athletes in the world during his prime. At the age of 20, he was the youngest champion in history. Regrettably, he squandered and/or was duped out of a personal fortune that peaked at over $300 million. In 2003, Mike declared bankruptcy. He was reportedly $23 million in debt at the time of the bankruptcy filing.
Mike Tyson earned at least $430 million in purses and endorsements over the course of his career, or roughly $700 million after inflation.
ESPN dubbed him “The Hardest Hitter in Heavyweight History,” while Sky Sports described him as “the most ferocious fighter to ever enter a professional ring.” While Tyson was an accomplished boxer, his reputation was tarnished by controversy both inside and outside the ring.
Mike Tyson was born Michael Gerard Tyson in Brooklyn, New York on June 30, 1966. Tyson grew up in an impoverished neighborhood, where his stepfather was involved in criminal activity and gambling. Tyson and his mother relocated when he was ten years old due to financial difficulties. Tyson had been arrested for 38 offenses by the age of 13, frequently fighting larger youths who mocked his voice (Tyson speaks with a lisp). Tyson’s fighting ability was discovered during his high school years by a juvenile detention instructor and a former boxer. After training with a few different trainers, he was introduced to Cus D’Amatto – a trainer who would have a profound influence on the future boxing champion. Tyson’s mother died when he was sixteen, and D’Amatto became his legal guardian. Tyson has also worked with Kevin Rooney since he was a child.
Boxing Career in the Beginning
Tyson’s first exposure to professional boxing came at the 1981 and 1982 Junior Olympics, where he won gold medals. He also competed in the 1984 Summer Olympics, but lost two bouts to Henry Tillman. Tyson made his professional debut at the age of 18, defeating Hector Mercedes via first-round TKO. This would mark the beginning of a growing trend for Tyson, who frequently ended fights in the opening round. Tyson continued to fight more difficult opponents than he had previously faced, with many predicting an early rise to stardom. Cus D’Amatto died in 1985, and Tyson suffered an early loss of a father figure. Numerous commentators later stated that this had a destabilizing effect on Tyson’s later life.
Tyson truly made his mark on the world stage when he defeated Jesse Ferguson in a nationally televised bout. The outcome of the fight was clearly predetermined after Tyson caught Ferguson with an uppercut that broke his nose. Tyson prevailed after Ferguson was disqualified for clinching illegally.
Tyson’s bout with Marvis Frazier, a former world title challenger, was another televised event. Tyson won the bout with a knockout in less than 30 seconds. Tyson defeated Trevor Berbick in the second round in 1986 to become the sport’s youngest heavyweight champion. He successfully defended his title against James Smith in 1987 to establish himself as the undisputed heavyweight world champion. He defeated Pinklon Thomas in a 12-round bout to win the IBF title the following year. Tyson became the first heavyweight in history to hold all three major belts simultaneously.
Tyson defeated former champion Larry Holmes in 1988, knocking him out in the fourth round. Tony Tubbs met a similar demise that year, losing via TKO in the second round. Tyson concluded the year with a win over Michael Spinks. Despite the fact that many pundits predicted a difficult fight for Tyson due to Spinks’ technical ability, Tyson knocked him out in 90 seconds.
Tyson’s career appeared to take a downward turn from that point on. Tyson decided to fire Kevin Rooney after a series of personal problems surfaced – the man credited with developing Tyson into a top fighter following D’Amatto’s death. While Tyson continued to win fights in 1989, his career took a significant hit when he was defeated by Buster Douglas in 1990. Douglas fought with passion and commitment, having lost his mother to a stroke 23 days prior to the fight. Douglas unleashed a combination in the tenth round that knocked Tyson to the canvas for the first time in his career. In one of the most shocking upsets in sporting history, he was counted out by the referee.
Tyson continued to win in 1991 before his career was cut short by legal issues. Tyson spent six years in prison after being arrested for rape. Tyson converted to Islam during this time period. Mike Tyson was legally required to register as a sex offender upon his release.
Tyson’s comeback was initially successful, as he knocked out several opponents en route to reclaiming two of his belts. He lost his WBA title, however, when Holyfield returned from retirement to knock out Tyson in round 11. Tyson lost the rematch when he was disqualified for biting Holyfield twice. Worse yet, Tyson’s boxing license was revoked in 1997.
Tyson returned to professional boxing in 1999, knocking out Francois Botha – only to be arrested and sentenced to nine months in prison for allegedly assaulting two motorists. When he returned to boxing following his release from prison, he knocked out a string of opponents in the first or second round. He knocked out Lou Savarese in 38 seconds in 2000.
Tyson’s last professional victory came in 2003, when he won in 49 seconds over Clifford Etienne. Mike Tyson retired in 2005 following a series of failed comeback fights, injuries, and defeats.
Cus D’Amatto taught Mike Tyson the “peek-a-boo” style of defensive boxing, which emphasized a high guard and quick head movements. This is also an aggressive counter-punching style that relies on charging the opponent, forcing him to swing, and then exploiting openings. Tyson was renowned for his powerful punches and his ability to bob and weave. Tyson’s punching power was largely derived from his legs, and he was well-known for finishing fights with a right hook and then an uppercut.
Mike signed a $27 million eight-fight contract with HBO in 1987, which lasted until his fight against Alex Stewart. Tyson took two minutes and 27 seconds to defeat Alex Stewart. He then signed a multi-fight, $120 million contract with Showtime, which included Holyfield I and II.
Mike earned at least $430 million during his career from fights and endorsements. That equates to approximately $700 million in today’s dollars.
For years, it was widely believed that promoter Don King pocketed a sizable portion of his earnings, at least his pay-per-view earnings. A subsequent court case revealed that Mike’s contract with King guaranteed the promoter 30% of his earnings. In Nevada, this was technically illegal. Don, it is alleged, would deduct 50% from the top before cutting a check to Mike after incurring mysterious additional fees. For instance, $100,000 per fight would be paid to Don King’s wife as a consultant fee. Additionally, Don King’s sons received $50,000 per fight consulting fees. Mike paid the President of the Mike Tyson Fan Club $1,000 per week at his peak. President King was revealed to be Don King’s daughter.
At other times, creditors such as the IRS garnished his earnings. Tyson, for instance, was compensated $8 million to fight Danny Williams in 2004. Regrettably, the IRS garnished $6 million of those earnings, leaving Mike with only $2 million for his efforts.
Mike’s earnings between November 1986 and his final professional fight in 2005 are detailed below. As you can see, his largest payday BY FAR came in 2002, when he earned $103 million fighting Lennox Lewis. Around $75 million of that $103 million came from a pay-per-view bonus.
Mike Tyson’s Earnings Throughout His Career
Adjusted for Inflation in the Opponent’s Purse
$1,500,000 Trevor Berbick
$2,000,000 James Smith
$2,500,000 Pinklon Thomas
$2,500,000 Tony Tucker
$2,500,000 Tyrell Biggs
$5,000,000 Larry Holmes
42 million dollars
$8,000,000 Frank Bruno I
$4,000,000 Carl Williams
$6,000,000 Buster Douglas
$3,000,000 Alex Stewart
Ruddock, Donovan I $6,000,000
$10,000,000 Donovan Ruddock II
42 million dollars
Buster Mathis ten million dollars
$30,000,000 $50,000,000 Frank Bruno II
$30,000,000 Evander Holyfield I
Evander Holyfield II $49 million $30 million
$9,000,000 Orlin Norris
$10,000,000 Julius Francis
$8,000,000 Lou Savarese
Andrew Golota ten million dollars
$5,000,000 Brian Nielsen
Lennox Lewis $148 million $103 million
$8,000,000 Danny Williams
$10,000,000 Roy Jones Jr.
Fight Between Roy Jones Jr. and
Mike and Roy Jones, Jr. announced their retirements in July 2020 and will face off in a highly unusual exhibition match. According to reports, the two reached an agreement with a sponsor who pledged $50 million to stage the fight. Each fighter could earn up to $10 million from that $50 million if all Pay-Per-View milestones are met. Mike claimed shortly after the announcement that he would donate all of his earnings to charity. His representatives quickly clarified the situation by issuing the following statement:
“At this point in his life, Mike is committed to charitable causes. Mike is making a significant charitable contribution to assist those who have been impacted economically, medically, and socially by the pandemic. The precise sum will be determined following the bout.”
Getty Images/Rich Polk
A Fortune Spent
Mike led a notoriously opulent lifestyle during his prime. He squandered millions on mansions, automobiles, jewelry, extravagant gifts for strangers, and even a Bengal tiger collection. His tigers were sold for $70,000 each and were kept in a custom-built habitat in his backyard. Mike maintained a staff of animal trainers at a cost of $125,000 per year.
Mike also lavished wealth on his entourage. As one example, he retained a staff member whose sole responsibility was to dress in army fatigues and shout “guerrilla warfare” during press conferences. This individual was compensated $300,000 per year for his services.
Between 1991 and 1995, Mike was imprisoned. Mike spent the following amounts in the three years following his release:
• $4.5 million on automobiles and motorcycles (19 vehicles he bought for friends)
• $400,000 on pigeons and various large cats, including Siberian tigers
• $300,000 in lawn and garden care alone
• $240,000 per month for walking around money he spent flexing in his daily life
• $230,000 in phone bills, cell phones, pagers, and pagers
• $125,000 per year for the services of an animal trainer to care for the large cats
• $100,000 in jewelry and clothing per month
Additionally, he purchased several residences. 50 Cent would later acquire his 21-room Connecticut mansion. This mansion was complete with a nightclub and a casino. Mike has also purchased real estate in Las Vegas, Ohio, and Maryland. His Ohio mansion was lavishly furnished with gold-plated furniture, pools, and a basketball court. His $4 million Las Vegas property included an 11,000-square-foot mansion, which he completely renovated.
Mike has owned well over 100 automobiles throughout his life. Several were extraordinarily valuable and scarce. He was the owner of a Bentley that was one of 73 built and cost $500,000. He instructed the repair shop to “keep it” after totaling a Range Rover in 1995. He was notorious for lending cars to friends and acquaintances and then abandoning them. He purchased a total of twenty vehicles from a single Las Vegas dealership. Mike spent $1.5 million in a few minutes one day at that dealership, Jim Chaisson Motors, purchasing five Bentley Azures. The dealership had only two in stock and had to expeditiously order the remaining three from Rolls-Royce.
Tyson once purchased a $2 million golden bathtub for his first wife, actress Robin Givens. According to legend, he would occasionally purchase extravagant gifts for strangers, such as $100,000 watches.
Fees for Personal Appearances
Mike has spent the better part of the last two decades in Las Vegas. He earns a comfortable living in Las Vegas by making personal appearances at parties and corporate events. Mike’s two-hour personal appearance is $75,000.
Mike is a three-time married man. He is the father of six children. He is a devout Muslim who adheres to sobriety.