Mike Tyson Net Worth (Money & Salary)

Mike Tyson’s Net Worth: How Much Does He Have?

When it comes to the net worth of Mike Tyson, the retired American boxer currently stands at $10 million. However, at his peak, his net worth reached an impressive $300 million. Throughout his career, Tyson earned hundreds of millions of dollars from both purses and endorsements. Despite his lucrative earnings, he faced financial challenges and declared bankruptcy in 2003 with a reported $23 million in debt. Despite these setbacks, he managed to make a successful financial comeback through various means such as lucrative appearances, movie roles, exhibition matches, and investments in the cannabis industry.

During the late 1980s, Tyson was known as the undisputed heavyweight champion of the world. He gained massive recognition as one of the highest-paid athletes globally, becoming the youngest champion at the age of 20. Renowned for his powerful hits, ESPN labeled him as “The Hardest Hitter in Heavyweight History,” and Sky Sports hailed him as “the most ferocious fighter to step into a professional ring.”

Even today, Tyson remains a significant figure in both sports and pop culture. He has made appearances in numerous movies and TV shows, with notable roles in films like “The Hangover” and “The Hangover II.” Furthermore, Tyson continues to engage in exhibition fights, with a forthcoming match against Jake Paul scheduled for July 2024, to be streamed live on Netflix.

Mike Tyson’s Lavish Expenditure

During his peak earning years, Tyson famously indulged in a lavish lifestyle, spending extravagantly on mansions, cars, jewelry, luxurious gifts, and even acquiring a collection of Bengal tigers. These tigers cost $70,000 each and were housed in a custom-built habitat in his backyard, managed by a dedicated animal trainer costing $125,000 annually.

Additionally, Tyson was known to spare no expense on his entourage, including unique expenses such as paying someone $300,000 per year to wear army fatigues and shout “guerrilla warfare” at press conferences.

In the initial three years following his release from imprisonment (1991-1995), Tyson spent staggering amounts on various items, including cars, exotic animals, garden maintenance, and everyday luxuries.

• $4.5 million on cars and motorbikes for friends
• $400,000 on exotic animals like pigeons and Siberian tigers
• $300,000 solely on lawn care and garden upkeep
• $240,000 monthly for personal expenses
• $230,000 on telecommunications
• $125,000 annually for the care of his exotic animals
• $100,000 monthly on jewelry and clothing

Tyson also invested in various properties, including a Connecticut mansion, once owned by 50 Cent, featuring a nightclub and casino. In Las Vegas, Ohio, and Maryland, he purchased additional homes, with notable extravagances like gold-plated furnishings.

Having owned over 100 cars throughout his life, Tyson’s collection included rare and valuable vehicles, such as a Bentley costing $500,000. His lavish spending habits extended to gifting others, including purchasing a $2 million golden bathtub for his first wife, actress Robin Givens.

Analysis of Earnings Throughout Mike Tyson’s Career

In 1987, Tyson inked a lucrative $27 million contract with HBO for eight fights, including his triumph against Alex Stewart. Following this, he signed a substantial $120 million deal with Showtime covering various matches, notably against Holyfield I and II. Over his professional career, Tyson amassed a minimum of $430 million from fight payouts and endorsements, equivalent to nearly $700 million by today’s standards.

Despite his significant earnings, a considerable portion of Tyson’s income, particularly from pay-per-view fights, was reportedly siphoned off by promoter Don King. A legal case later uncovered that King was entitled to 30% of Tyson’s earnings, with alleged additional fees deducted before Tyson received his share. This practice resulted in significant financial losses for Tyson, exacerbated by issues such as garnishments by entities like the IRS.

For instance, Tyson’s earnings from a 2004 fight against Danny Williams were heavily garnished by the IRS, leaving him with only $2 million out of an $8 million payout. Challenges like these underscore the complexities and financial pitfalls in the career trajectory of a boxing icon like Mike Tyson.

For a detailed breakdown of Mike Tyson’s fight earnings from November 1986 until his retirement, continue reading below:

By far, in 2005, his largest payday was the $103 million earned from fighting Lennox Lewis in 2002, with roughly $75 million coming from a pay-per-view bonus. For more details, please read about Mike Tyson’s Biggest Career Paydays In The Ring.

…and so on

In July 2020, Mike Tyson and Roy Jones, Jr. announced their return to face each other in an unusual exhibition match. A sponsor provided $50 million for the fight, with the potential for each fighter to earn up to $10 million based on Pay-Per-View milestones. Mike pledged to donate all of his earnings to charity as he is dedicated to supporting causes that aid those affected by the pandemic.

Early Life

Mike Tyson, born Michael Gerard Tyson on June 30th, 1966, in Brooklyn, New York, grew up in a tough neighborhood. His stepf…After controversially biting Holyfield twice and getting disqualified as a result, the rematch occurred. Tyson then had his boxing license rescinded in 1997.

Tyson made a return to professional boxing in 1999 by knocking out Francois Botha. This return was short-lived as he went back to prison for nine months after allegedly assaulting two motorists. Upon his release, Tyson quickly knocked out several fighters, often within the first or second round. Notably, in 2000, he defeated Lou Savarese in just 38 seconds.

The last professional victory for Tyson was in 2003 when he defeated Clifford Etienne in only 49 seconds. Despite endeavors for comebacks, injuries, and losses, Tyson retired in 2005.

Boxing Style

Mike Tyson was instructed by Cus D’Amatto in the defensive “peek-a-boo” style of boxing. This style involved a high guard and rapid head movements and was paired with an aggressive counter-punching strategy. Tyson was renowned for his extreme punching power, alongside his proficiency in bobbing and weaving. A significant portion of Tyson’s punching power stemmed from his legs, and he was recognized for his ability to land a right hook followed by an uppercut to end fights.

Personal Appearance Fees

For nearly two decades, Mike Tyson has regarded Las Vegas as his home base. In this city, he earns a substantial income by making personal appearances at various gatherings and corporate functions. Tyson’s rate for a two-hour personal appearance stands at $75,000.

Personal Life

Having been married thrice, Mike Tyson is a father of seven children, one of whom has passed away. His offspring include not only his six biological children but also the eldest daughter of his second wife. Tyson practices Islam and embraces sobriety as part of his life.

In July 2020, Tyson unveiled the creation of the Mike Tyson’s Legends Only League alongside Sophie Watts and her company, Eros Innovations. The league offers retired professional athletes the chance to engage in sporting competitions. One of the league’s premier events was the Tyson versus Roy Jones Jr. fight at the Staples Center in November 2020, which emerged as the highest-selling pay-per-view event of 2020 and ranks within the top 10 of all-time purchased events.

August 2022 witnessed Mike Tyson’s cameo appearance in the Telugu-Hindi film “Liger.” In April 2022, Tyson made headlines for punching a male passenger aboard a Jet Blue flight from San Francisco to Florida, who was harassing and throwing water at him. Fortunately, Tyson did not face criminal charges for this incident.

Additionally, in 2023, an unidentified woman filed a $5 million lawsuit against Tyson, accusing him of assault in the early 1990s after meeting him at a nightclub in Albany, New York.

Mansions

Moving on to Tyson’s real estate ventures, in 1996, he acquired a 51,000-square-foot mansion situated on 17 acres in Farmington, Connecticut, for $2.8 million. The property, located at 50 Poplar Hill Drive, had a colorful past, having been sold under distress multiple times. Notably, amid a divorce and bankruptcy in 2003, the mansion was transferred to his ex-wife Monica Turner as part of their settlement. The former residence was later purchased by rapper 50 Cent, who spent millions on renovations before eventually selling it in 2019. A video tour of Tyson and 50 Cent’s former Connecticut mansion is available.

In February 2016, Tyson invested $2.5 million in a luxurious mansion in Henderson, Nevada, which sits on a one-acre plot and boasts a 10,400-square-foot residence. Interestingly, a month after this acquisition, he placed his former Las Vegas-area home on the market for $1.5 million.

Car Collection & Ferrari F50

During his peak financial prowess, Tyson amassed a collection of over 100 cars that included a $500,000 limited edition Bentley Continental SC, of which only 73 were made. His eclectic assortment also featured Lamborghinis, Ferraris, a Mercedes-Benz 500, a Range Rover, and a 1995 Rolls Royce that met an unfortunate end in an accident. Following the crash, Tyson left the totaled Rolls Royce at an auto repair garage, allowing them to retain it.

Among his notable cars was a 1996 Ferrari F50, a rare gem as Ferrari only manufactured 349 units and sent 55 to the United States. Tyson’s particular F50 had chassis #104220 and was completed in February 1996. Despite selling the F50 in 2001, two years prior to declaring bankruptcy, the vehicle exchanged hands before being auctioned off in August 2022 for $4.625 million. A photo of Tyson’s former Ferrari F50 can be viewed below.