Mike Tyson is one of the most successful and well-known boxing personalities. He was the undisputed heavyweight champion of the world in the 1980s. He was one of the highest-paid boxing athletes and was known for making history by becoming the youngest boxing champion at the age of 20 years. Mike Tyson’s net worth was reportedly around $300 million during his peak, but he went bankrupt in 2003. Today, Mike Tyson is worth $10 million. ..

How Good Was Mike Tyson? 

In 1984, Tyson won his first professional boxing match by beating his opponent in the first round. After this match, his popularity started rising and he would end most of his matches in the 1st round.

In his first fight, Tyson faced Jesse Ferguson. He won after Ferguson was disqualified for illegally clinching. Tyson then started getting more fights.

He became the youngest heavyweight champion in history by defeating Trevor Berbick in only 30 seconds. He then defended the title against James Smith, who was considered the best fighter of his era. He also fought 12-rounds to victory against Pinklon Thomas to win the IBF. In addition, he beat former champion Larry Holmes and then Tony Tubbs.

After his three-belt victory over Thomas, Muhammad Ali became the only boxer to hold three major championship belts together. However, after his back-to-back victories, his career downfall came against Buster Douglas where he lost to a referee countdown in the 10th round. Though he continued to win in 1991 before he was arrested for legal issues. Let’s take a look: After winning three heavyweight championships in a row, Muhammad Ali became the only boxer to hold three major championship belts together. However, after his back-to-back victories, his career downfall came against Buster Douglas where he lost to a referee countdown in the 10th round. Though he continued to win in 1991 before he was arrested for legal issues. Let’s take a closer look at what happened: ..

Tyson’s Downfall:

In the 1990s, Mike Tyson was arrested for rape and was put behind bars for 6 years. After coming back, he managed to secure two titles but could not regain the WBA belt against Holyfield and lost again in a rematch.

In 2003, Tyson was put behind bars for 9 months after assaulting 2 bikers. After returning, he won consecutive matches by knocking out Lou Savarese in just 38 seconds. Tyson won his last fight in 2005 against Clifford Etienne in about 50 seconds.

How Much Did He Earn?

In 1987, Mike signed a contract with HBO that paid him $27 million for 8 fights. He then signed a contract with Showtime that paid him $120 million for multiple matches.

It is reported that Tyson earned about $430 million from boxing matches and endorsements. Although a major amount of his earnings was taken by Don King, a promoter. The contract between Tyson and King stated that Tyson needed to pay 30% of his earnings to King, above of that Don King would take an additional 50% off Tyson’s earnings. At other points of his career, his earnings would be stripped off by creditors such as IRS.

Tyson has won a lot of matches. His highest-earning match was his match against Lennox Lewis, he earned a $103 million.

Where Did The Money Go? 

In 2003, Tyson was reported to go bankrupt. Despite earning so much money, how did Tyson lose his wealth? ..

  • mansions
  • vehicles
  • jewelry
  • pets

The author spent more than $4 million on cars and bikes, $400K on pets, and about $240K every month on jewelry and apparel. They also own several homes worth more than a million dollars.

Mike Tyson is known for lending his cars and bikes to friends and family, but he has also been known to forget to take them back. One of his most popular incidents was spending $1.5 million on a car dealership in a matter of minutes. ..

In 2003, Mr. Jackson purchased a $2 million bathtub for his wife, Robin Givens. He would spend more than $70,000 on his appearance that year. ..

His extravagant spending and failure to pay taxes and pager bills led to his bankruptcy in 2022. His current net worth is estimated at $10 million. ..

Conclusion:

In 2003, Mike Tyson went bankrupt after spending a lot of money. His net worth is now around $10 million.

A) Mike Tyson was trained by Ali.

Mike Tyson learned the “peek-a-boo” style of boxing which involved guarding and having rapid head movements.