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How Rich is Mike Tyson? All Details on his Net Worth

Published Wed May 25 2022 By sujan
How Rich is Mike Tyson? All Details on his Net Worth

Know who Mike Tyson is? How rich is he? And details regarding his net worth are here.

In the sport of boxing, Mike Tyson was a former undisputed heavyweight champion. According to the International Boxing Federation (IBF), World Boxing Association (WBA), and World Boxing Council records, he remains the youngest boxer to win all three championships at twenty years and one month in 2012. His accomplishments were even more remarkable since he was the only person to hold all three championships simultaneously. A Brooklyn, New York native, Mike Tyson is the son of Percell Tyson

Mike thinks that Jimmy Kirkpatrick is his birth father, even though his father's name was stated on his birth certificate as Percell Tyson. This is because Kirkpatrick lived at his mother's home, Lorna Smith Tyson, and Mike thinks this is the case. Kirkpatrick abandoned Mike's mother, brother, and sister not long after what occurred to him. Cus D'Amato had reared Mike since he was 16 years old when his mother died, and he was left in the care of the man who would become his father figure. D'Amato coached young Mike in his role as a boxing trainer because he saw promise in the future champion.

Many of you might be interested to know his earnings and net worth. So here, in this article, we will talk about his wealth. How rich is he? From where has he earned it? And further information related to his wealth. To know all of it, kindly go through this article.

Mike Tyson's Net Worth and Earnings Details

Mike Tyson's wealth is a mammoth $10 million. Mike was once one of the most well-known and well-paid athletes globally. At the young age of 20, he became the sport's youngest ever champion. Due to mismanagement or fraud, he had a personal fortune of over $300 million at the time of his peak, which he lost. In 2003, Mike filed for personal bankruptcy protection with the court system. According to the document, he owed $23 million at the time of the bankruptcy filing. 

Mike Tyson previously lived in a mansion sized home.

Image: Mike Tyson once lived in this mansion
Source: Google

With inflation, Mike Tyson had earned around $700 million, including the inflation from purses and endorsement deals throughout his career. As early as 1987, Mike signed an eight-fight deal worth $27 million with HBO, which he kept until his fight with Alex Stewart in 1989. in less than three minutes, Tyson knocked Alex Stewart out of the WBC title. After that, he agreed to a long-term $120 million contract with Showtime, which covered several fights, including Holyfield I and Holyfield II. 

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Promoter Don King has taken a large portion of his pay-per-view earnings for many years now. Mike's contract with King stipulated that the promoter was entitled to 30% of his revenues. In Nevada, this was a violation of state law. It's been claimed that Don would withhold 50% of the money before handing it over to Mike. Creditors like the IRS have also levied wage garnishments on him in the past. One of his sons, Miguel Leon Tyson, is prepping to walk in his footsteps as he takes the occasional role of a boxing mentor and a trainer. We'll see if junior Tyson can grab the same success as his legendary father.  

How did Mike Tyson Lose his Fortune? How did he Spend it, and on What?

During Mike's prime, he lived a high life. There were extravagant gifts for strangers and even a collection of Bengal tigers in his lavish spending sprees. They cost him $70,000 each and were housed in an enclosure designed especially for them in his yard. At a yearly cost of $125,000, Mike kept a dog trainer on staff. Mike also lavished financial support on his team. 

Mike Tyson loved to spend money to fulfil his great desires.

Image: Mike Tyson spent a lot of money on luxurious things
Source: Instagram @miketyson

He had a person on his staff who was tasked with yelling "guerrilla warfare" whenever he appeared on television. This individual received a yearly salary of $300,000 as compensation for his services. Tyson purchased a $2 million golden bathtub for his first wife, actress Robin Givens, as one of the most outrageous expenditures he had made. According to tradition, he was known to buy extravagant gifts for strangers, such as $100,000 wristwatches.

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