Mike Tyson is a legendary professional boxer. At his peak more than 30 years ago, “Iron Mike” was the most feared boxer in the ring, compiling wins with knockout after knockout.
After retiring in 2005 from a two-decade boxing career after going broke, Tyson has had to remake himself and rebuild his income.
In a span of about 20 years, he’s back again as a multimillionaire. And with his business ventures in the cannabis industry and a step back into the ring, his wealth is likely to increase further.
💰💸 Don’t miss the move: SIGN UP for TheStreet’s FREE Daily newsletter 💰💸
On Friday, Tyson fights Jake Paul, 31 years his junior, with each boxer reportedly taking home $40 million. Here’s how much Tyson is worth now:
Mike Tyson can laugh his way to the bank with his recent business ventures and a temporary return to the ring.
Who is Mike Tyson?
Michael Gerard Tyson was born in Brooklyn, New York, in 1966 and had a difficult childhood. As a youth, he had run-ins with the law and was sent to a reform school for boys in upstate New York, where he learned how to box.
In his teens, his mother passed away, and he was left in the care of Cus D’Amato, a boxing manager and trainer. Tyson dropped out of high school to focus on boxing and went on to win gold medals at the Junior Olympic Games in 1981 and 1982.
He became the youngest heavyweight champion in the world at 20 years old, and then went on to win other heavyweight titles as he fought and defeated notable boxers such as Michael Spinks.
Tyson served three years in prison until 1995 for a rape conviction and afterward made a comeback before retiring in 2005.
Related: How Mike Tyson went from a net worth of $300 million to broke
What is Mike Tyson’s net worth?
Tyson has a net worth of $10 million, according to Celebrity Net Worth, and his wealth is likely to increase with recent business ventures and a temporary step back into the ring.
How much has Mike Tyson made from boxing?
In his prime boxing career, Tyson earned hundreds of millions of dollars, and at one point, had a reported net worth of $300 million. Accross his many boxing matches over the years, Tyson earned a reported $423 million.
How does Mike Tyson make his money?
After his retirement from boxing in 2005, his name became his brand, and Tyson formed some ventures and a charitable foundation.
Film and television
He turned to a career in Hollywood and appeared in cameos in films such as The Hangover (2009) and in TV shows such as Entourage (2010).
He starred in 69 episodes of his eponymous animated show, Mike Tyson Mysteries (2014–2020), and his profile on movie and TV database IMDb shows him being active in numerous film and television productions.
More on net worth:
Joe Rogan’s net worth: The controversial podcaster’s salary & investmentsShohei Ohtani’s net worth: World Series champion’s Dodgers contract & endorsements
Scottie Scheffler’s net worth: How much pro golf’s #1 player makes in 2024
Legends Only League
Among his business ventures, he helped to form a sports league known as Legends Only League in 2020 for retired athletes to compete. In the same year, to promote the league, Tyson fought Roy Jones, Jr. a former world champion across four boxing divisions, and the bout resulted in a split draw.
Mike Bites are chewable gummies shaped like an ear with part of the earlobe off, in a nod to Mike Tyson’s biting of Evander Holyfield’s ear in a 1997 boxing match.
Justin Sullivan/Getty Images
Cannabis
Tyson — who reportedly was exposed to cannabis at a young age, at 12 — is a prolific cannabis smoker. In 2015, Tyson went into the cannabis business, trying to capitalize on California’s impending 2016 proposition to legalize cannabis use.
Cannabis has become a big industry in California. In 2023, state government data showed that sales from cannabis reached $5.2 billion, up from $2 billion in 2018.
His ventures with business partners included a mansion in the Los Angeles area dubbed “Tyson Ranch” that grew cannabis on the rooftop and made cannabis-related products.
Tyson said in a 2019 podcast on his YouTube channel that Tyson Ranch was spending $40,000 a month on cannabis smoking in what his business partner described as research. He and his business partner also constructed a 420-acre resort in Palm Springs, California, where guests could relax and smoke cannabis.
In 2021, he founded TYSON 2.0, and its range of products includes different strains of cannabis packaged in small jars. His cannabis-infused vitamin chewables known as Mike Bites are in the shape of a torn ear (in a nod to Tyson’s ear-biting of opponent Evander Holyfield in a boxing match in 1997) and retail for about $30 for a bag of 20 gummies. There’s also a clothing line and apparel accessories collection promoting the brand.
Mike Tyson Podcast
Tyson also draws revenue from his namesake Mike Tyson podcast that broadcasts on YouTube. As of mid-November 2024, Tyson’s channel had 3.7 million subscribers. Views across his 230 videos totaled 411 million.
View the original article to see embedded media.
How does Mike Tyson spend his money?
Tyson lives in a home in Las Vegas with his family and has kept a low profile in terms of showing what he’s been spending. That’s in contrast to the past during his boxing career, when he spent lavishly on homes, expensive cars, and jewelry.
He was forced to declare bankruptcy in 2003 despite earning hundreds of millions of dollars from his bouts and endorsements. He once owed millions in back taxes to the Internal Revenue Service.
Is Mike Tyson still boxing?
Tyson is set to return to the professional boxing ring on Nov. 15, 2024, in a bout with social media personality-turned-boxer Jake Paul — who, at 27, is 31 years Tyson’s junior. The boxing match (to be streamed on Netflix (NFLX) is expected to bring in $80 million for the two fighters to be evenly split between them.
Related: Veteran fund manager sees world of pain coming for stocks
