On June 30, 1966, in Brooklyn, New York, Michael Gerard Tyson became known as Mike Tyson. Tyson was raised in an undesirable area with a criminal and gambling stepfather.
Tyson and his mother had to move when he was ten due to financial difficulties. Tyson had 38 arrests by age 13 and frequently engaged in combat with bigger kids who made fun of his voice (Tyson speaks with a lisp). A former boxer and a juvenile detention instructor spotted Tyson’s fighting skills in a class.
What is Mike Tyson’s Net Worth?
The world’s undisputed heavyweight champion in the late 1980s was retired American boxer, Mike Tyson. Mike Tyson has a $10 million net worth as of this writing.
Mike was one of the world’s most well-known and well-paid athletes in his prime. At age 20, he was the most recent champion in history.
Regrettably, he lost or was defrauded of personal wealth that exceeded $300 million at its height. In 2003, Michael filed for bankruptcy. Per the bankruptcy filing, he was reported to be $23 million in debt then.
Mike Tyson made at least $430 million in purses and sponsorships throughout his career, or almost $700 million when inflation is considered.
He was called “The Hardest Hitter in Heavyweight History” by ESPN and “the most vicious fighter to go into a professional ring” by Sky Sports. Tyson was a skilled fighter, but scandals inside and outside the ring tarnished his reputation.
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How Much Are Mike Tyson’s Career Earnings?
Mike agreed to a $27 million, eight-fight deal with HBO in 1987. The arrangement continued until his matchup with Alex Stewart. Tyson defeated Alex Stewart in 2 minutes and 27 seconds.
Following that, he agreed to a long-term $120 million deal with Showtime that covered many fights, including Holyfield I and II.
Mike made at least $430 million in his career via fights and endorsements. That is equivalent to almost $700 million in today’s money.
It has long been known that promoter Don King pocketed some of his revenues, at least those from pay-per-view matches. A legal dispute would eventually make it clear that Mike’s agreement with King gave the promoter the right to 30% of his income.
In Nevada, this was technically forbidden. It’s rumored that Don would take 50% off the top before writing a check to Mike after paying enigmatic extra costs. Examples of fees might be $100,000 paid as a consulting fee to Don King’s wife for each fight.
Moreover, $50,000 per fight in consultation fees were given to Don King’s kids. The President of the Mike Tyson Fan Club received $1,000 each week from Mike during his height. It was revealed that the President was Don King’s daughter.
Other times, creditors like the IRS would seize his wages. As an illustration, Tyson received $8 million to compete against Danny Williams in 2004. Sadly, the IRS directly garnished $6 million of those revenues, leaving Mike only $2 million to show for his work.
Below is a summary of Mike’s earnings between November 1986 and his last professional fight in 2005. As you can see, the $103 million he earned after facing Lennox Lewis in 2002 was by FAR his biggest paycheck. A pay-per-view incentive comprised about $75 million of the $103 million total.
| Mike Tyson’s Career Earnings | ||
| Opponent | Purse | Inflation Adjusted |
| Trevor Berbick | $1,500,000 | |
| James Smith | $2,000,000 | |
| Pinklon Thomas | $2,500,000 | |
| Tony Tucker | $2,500,000 | |
| Tyrell Biggs | $2,500,000 | |
| Larry Holmes | $5,000,000 | |
| Tony Tubbs | $10,000,000 | $21 million |
| Michael Spinks | $20,000,000 | $42 million |
| Frank Bruno I | $8,000,000 | |
| Carl Williams | $4,000,000 | |
| Buster Douglas | $6,000,000 | |
| Henry Tillman | $2,000,000 | |
| Alex Stewart | $3,000,000 | |
| Donovan Ruddock I | $6,000,000 | |
| Donovan Ruddock II | $10,000,000 | |
| Peter McNeeley | $25,000,000 | $42 million |
| Buster Mathis | $10,000,000 | |
| Frank Bruno II | $30,000,000 | $50 million |
| Bruce Seldon | $30,000,000 | |
| Evander Holyfield I | $30,000,000 | |
| Evander Holyfield II | $30,000,000 | $49 million |
| Francois Botha | $10,000,000 | |
| Orlin Norris | $9,000,000 | |
| Julius Francis | $10,000,000 | |
| Lou Savarese | $8,000,000 | |
| Andrew Golota | $10,000,000 | |
| Brian Nielsen | $5,000,000 | |
| Lennox Lewis | $103,000,000 | $148 million |
| Clifford Etienne | $5,000,000 | |
| Danny Williams | $8,000,000 | |
| Kevin McBride | $5,000,000 | |
| Roy Jones Jr | $10,000,000 | |
| Total: | $423,000,000 |
Roy Jones Jr. Fight
Mike and Roy Jones, Jr. announced that they would both be coming out of retirement in July 2020 to engage in a highly unusual exhibition match.
According to reports, the two reached an agreement with a sponsor who agreed to pay $50 million to stage the bout. If all Pay-Per-View milestones are reached, each fighter could receive up to $10 million of that $50 million.
Mike Tyson shade on Instagram:
Mike declared he would give all his money to charity soon after the announcement. His representatives quickly provided the following clarification:
“At this point in his life, Mike is dedicated to helping the less fortunate. Mike is making a sizeable charitable donation to assist individuals impacted by the pandemic economically, medically, and socially. After the fight, the precise sum will be established.”
Spending A Fortune
Mike was known for leading a luxurious lifestyle. He frittered away millions of opulent gifts for strangers, homes, vehicles, jewelry, and even a collection of Bengal tigers.
His tigers were kept in a specially constructed habitat on his lawn, costing $70,000 each. Mike spent $125,000 annually on keeping a pet trainer on staff.
Mike also showered money on his group. For instance, he kept a staff member responsible for attending news briefings dressed in army fatigues and shouting “guerrilla warfare.” This individual received an annual salary of $300,000 for his services.
Mike spent the years 1991 to 1995 incarcerated. Mike spent the following sums over the three years following his release:
- $4.5 million on cars and motorbikes (19 vehicles he bought for friends)
- $400,000 on pigeons and a variety of big cats such as Siberian tigers
- $300,000 on lawn care and garden maintenance alone
- $240,000 per month for walking around money that he spent in daily life flexing
- $230,000 on cell phones, pagers, and phone bills
- $125,000 per year for an animal trainer to take care of the big cats
- $100,000 per month on jewelry and clothes
He also acquired many houses. The later owner of his 21-room Connecticut mansion was 50 Cent. There was a casino and a nightclub in this home.
Michael also purchased homes in Ohio, Maryland, and Las Vegas. His Ohio estate included a basketball court, pools, and furniture plated in gold. He completely rebuilt the 11,000-square-foot residence on his $4 million Las Vegas property.
During his life, Mike has owned well over 100 vehicles. Some were incredibly expensive and uncommon. One of the 73 Bentleys made and costing $500,000 belonged to him.
In 1995, he totaled a Range Rover and instructed the repair facility to “keep it.” He frequently forgot about the cars he had lent to friends and acquaintances.
At a single Las Vegas dealership, he purchased 20 vehicles. In a short period, one day, Mike spent $1.5 million there at Jim Chaisson Motors purchasing five Bentley Azures. Only two were available at the dealership; the other three had to be ordered quickly from Rolls-Royce.
Tyson spent $2 million on a golden bathtub for his first wife, actress Robin Givens, one of his most extravagant purchases ever. Legend has it that he would occasionally purchase people expensive gifts like $100,000 watches.
Personal Appearance Fees
For most of the past two decades, Mike has named Las Vegas his home. He makes personal appearances at social gatherings and business functions in Vegas, where he makes good fortune. For a two-hour personal appearance, Mike bills $75,000.
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