Mike Tyson - Net Worth
Mike Tyson- Net Worth
Michael Gerard “Mike” Tyson is a retired American professional boxer and former heavyweight champion of the world. He holds the record of being the youngest boxer to win the WBA, WBC, and IBF heavyweight titles. He is also ranked number 16 on The Ring’s list of 100 greatest punchers of all time. Today, Mike Tyson’s net worth stands at about 1 million dollars. However, at the peak of his career, Tyson’s net worth was around 300 million dollars; he declared bankruptcy in 2003, after being about 23 million dollars in debt.
Mike Tyson’s Childhood
Mike Tyson was born in Brooklyn, New York on June 30, 1966. He lived in a dangerous neighborhood and his father left him when he was young. As a kid, Tyson would act out and commit petty crimes. By the time he was 13 he had been arrested 38 times. Tyson was forced to go to a juvenile detention center, where he met Bobby Stewart. Stewart was a former boxer and counselor at the center, and began to train Tyson. He immediately recognized Tyson’s potential and introduced him to the legendary boxing trainer, Cus D’Amato. D’Amato quickly became Tyson’s manager, trainer and father figure. After Tyson’s mother passed away when he was only 16, D’Amato became his legal guardian.
Mike Tyson’s Fights
Tyson’s incredible speed, strength, coordination, timing and accuracy allowed him to win fight after fight. In 1982 Tyson experienced his first victory at the Junior Olympics where he won a silver medal. On February 16, 1986, Tyson had his first televised fight where he took out his opponent, Jesse Ferguson, with ease. Tyson became the youngest Heavyweight champion in boxing history when he was only 20 years old and received the nickname “Iron Mike”. From 1987-1990 Tyson went on to win fight after fight (earning millions from each fight), and was considered the undisputed world heavy weight champion. At his peak, Tyson made over $20 million per fight. Nintendo even created a video game after him called, "Mike Tyson's Punch-Out!!!”.
In 1990, Tyson’s downfall began, starting with his nasty divorce from his then wife, Robin Givens. He went on to fire his trainer, Kevin Rooney, and lost his undisputed championship title when he was beat out by Buster Douglas. That same year, Tyson was arrested for allegedly raping an 18-year-old model. In 1992, Tyson was convicted and served three years in prison.
In 1995, after Tyson finished serving his sentence, he attempted to make a comeback in the ring. He won his first two battles, drawing in high ratings. However, in 1997, Tyson reached an all time low in his career when he bit off part of Evander Holyfield’s ear during a match. To this day, that match is one of the most controversial moments in sports history. Tyson was fined $3 million for the incident.
Bankruptcy and Depleted Net Worth
In 2003, Tyson divorced his second wife, Monica Turner, with whom he had two children. That same year he declared bankruptcy and was millions of dollars in debt. Tyson blames his excessive and careless spending as the main cause for his net worth’s dramatically extreme drop. He spent millions on cars, jewelry, parties and staff. Rumor has it that Mike Tyson had bought over 200 cars throughout his career, all of them totaling to over $4.5 million. Another example of Tyson’s lavish and irresponsible spending is the $2.3 million bathtub he bought Robin Givens, who was his wife at the time. On July 11, 2005, Tyson announced his retirement from boxing, stating he “lost the passion for the sport”.
Life After Boxing
In 2009, Mike Tyson married his longtime girlfriend, Lakihi “Kiki” Spicer, and the couple has two children together. Nowadays, after retiring, Tyson earns most of his money from television shows and movies. He’s made guest appearances on several television shows such as, “How I Met Your Mother” and “Law and Order: Special Victims Unit”. He also appeared in the movies, “The Hangover”, “Scary Movie 5”, “Entourage” and more, which helped increase his net worth.