Mike Tyson is famous — and infamous — for many things. He was the undisputed boxing heavyweight champion of the world in the late 1980s. He was also one of the most famous and highest-paid athletes in the world at the time and had a reported net worth of around $300 million, according to Celebrity Network. Other estimates put “Iron Mike” Tyson’s net worth north of $420 million at one time.
But the money was apparently not meant to last. Over the years, Tyson found himself in serious trouble on more than one occasion.
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He was convicted of rape in 1992 (he claimed the sex was consensual) and sentenced to six years in prison. Tyson was paroled after just three years.
After his release from prison, he booked a fight with Evander Holyfield, but during the bout, Tyson bit off part of Evander Holyfield’s ear and was disqualified from the fight. As a result, the Nevada Athletic Commission revoked his license to box for 16 months, which surely affected his earnings.
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All along, Tyson was living a lavish lifestyle, spending money on multiple multi-million dollar homes across the U.S., luxury cars, jewelry and bodyguards.
He also owned two $70,000 Bengal tigers, which required a special habitat at his home in Las Vegas, plus an expensive caregiver who reportedly earned $125,000 a year.
Mike Tyson poses with one of his white tigers during an interview at his home. Mike Tyson’s net worth collapsed after reaching $300 million or more.
The Ring Magazine/Getty Images
Mike Tyson’s net worth allowed him to live a very extravagant lifestyle for years
Some of Mike Tyson’s other over-the-top purchases included a gold-plated bathtub for his one-time wife, actress Robin Givens — the tub had a $2 million price tag.
At that time, he was raking in huge payouts, including $103 million, which he earned for his fight with Lenox Lewis in 2002. But shortly after that fight, in 2003, Tyson declared bankruptcy and filings show he was $23 million in debt.
He reportedly owed the IRS $13.4 million, the British tax authorities $4 million, plus millions more to a phalanx of professionals, including attorneys, financial managers, trainers, and even a music producer.
Tyson went on to blame fight promoter, Don King, for illegally taking up to 50% of Tyson’s earnings from fights and pay-per-view payouts but only recovered $14 million, a fraction of what he claimed King owed him. Most of that money went to pay debts, including to his ex-wife.
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He went on to earn tens of millions more in subsequent years, including $8 million for a 2004 fight against Danny Williams. $20 million for a bout against Michael Spinks and another $30 million for a fight against Evander Holyfield.
As recently as 2010 Tyson claimed on the ABC show “The View” he was “totally destitute and broke.”
Since then, he has taken steps to rebuild some of his wealth. Today, he has an estimated net worth of $10 million, but that number could be much … higher, considering revenue from “Tyson 2.0,” Tyson’s cannabis venture. Tyson is cofounder and chief brand officer of the Las Vegas-based weed brand which earned $150 million in 2023.
Mike Tyson and Jake Paul are shown in a promotion for their scheduled Nov. 15 fight; the event will be streamed live on Netflix.
Mike Tyson will reportedly earn millions for his fight with Jake Paul
While Tyson’s net worth may never reach the heights it did in his heyday, he can still draw a crowd and, therefore, a paycheck.
Now, in just over a week, on Nov. 15, NetfliNFLX will stream a highly anticipated match between Tyson and Jake Paul, an American YouTube entertainer, actor, and professional boxer.
The two were originally scheduled to fight in July, but due to Tyson’s reported ulcer flare-up, the fight was postponed.
Paul, 31 years younger than Tyson, is the odds-on favorite to win the bout. Tyson unsurprisingly dismisses the odds makers.
Related: Netflix is pursuing a peculiar sports strategy with Jake Paul-Mike Tyson fight
“Other people my age haven’t been training as long as me, been as consistent as me, and I’m just a different species of human being,” Tyson told KDFW FOX 4’s Mike Doocy in late October. “He’s a younger man, he should be able to handle punches from an old withering man like me,” Tyson added. “My intention is to hurt this young man,” he said.
While the amount of money each fighter will earn has not been publicly disclosed, they are expected to split an $80 million purse evenly: In a recent press conference, Jake Paul said, “I’m here to make 40 million dollars and knock out a legend.”
A week before the match-up, on Nov. 7, the Netflix documentary series, “Countdown: Paul vs. Tyson” will be available to stream.
The fight will be held at AT&T Stadium in Arlington, Texas.
