Mike Tyson is a multi-millionaire again — here’s how he spends his money
- Mike Tyson made and spent a fortune.
- The 56-year-old earned $30 million paydays in boxing at the peak of his powers.
- And prior to filing for bankruptcy, he spent on a wild list of things that included pet tigers.
Mike Tyson, 56, remains one of the world’s most famous athletes.
At the peak of his powers, he was earning approximately $30 million per fight.
Source: New York Times.
His resume includes fights against Trevor Berbick, Tony Tucker, Larry Holmes, Michael Spinks, Frank Bruno, Buster Douglas, Donovan Ruddock, Evander Holyfield, and Lennox Lewis.
Mike Tyson made — and lost — a lot of money in his life. According to Forbes, he generated $400 million from career earnings in boxing …
… but in 2003 he declared bankruptcy, having squandered the money due to “reckless spending,” as characterized by the same publication.
There are a wealth of stories through the years that detail Tyson’s wild desire to live fast, party hard and spend his money extravagantly.
Tyson once invited 700 people to help him celebrate his 30th birthday party, for a cost of $580,000. Among those on the guest list was future US President Donald Trump, who had helped promote some of his past fights.
It is estimated that Tyson spent $6.3 million on cars alone. One of these vehicles included a Bentley Continental SC worth $720,000. He also had a Lamborghini, Cadillac Escalade, and Hummer H2.
To go with his luxury cars, Tyson also developed a penchant for high-end houses. He once bought a $4 million estate in Connecticut that he tried, unsuccessfully, to sell for $32 million two years later. He also had properties in Nevada and California.
Mike Tyson bought three bengal white tigers as pets in the 1990s. Later, court documents showed he owed $8,100 to care for them when filing for bankruptcy.
Source: New York Times and The Sun.
Tyson said on a podcast in 2020 that one of his pet tigers once attacked a woman trespassing at his house. “She was just fucked up,” he said. “I didn’t know what they could do to a person’s flesh,” he added. “I loved them … [but] I shouldn’t have had them in my house. I was wrong.” Tyson paid her $250,000.
He, famously, also adores pigeons. He kept them as pets as a teenager. He told Graham Bensinger he got into his first fistfight when a neighborhood bully tried “to steal” a pigeon from his living room. Tyson begged for the bird back. The bully apparently punched him, ripped the bird’s head off, and threw the blood at a young Tyson.
Tyson knocked that bully out, apparently, but it wasn’t the only person he fought over a pigeon. Tyson also KO’d a garbage man who threw away a dead bird of his. “I rushed him and caught him flush on the temple with a titanic right hand,” Tyson said. “He was out cold, convulsing on the floor.”
Source: TalkSPORT and Insider.
Tyson’s spending didn’t stop at exotic animals. He reportedly gifted a gold bathtub that set him back more than $2 million to then-wife Robin Givens.
He’s been married three times and wed Lakiha “Kiki” Spicer in 2009.
All his spending came to an end in 2003 when he filed for bankruptcy. One of the casualties was Tyson’s lavish Connecticut mansion, which he sold to rapper 50 Cent. Tyson reportedly had debts of $23 million at the time.
Source: The Sun and New York Times.
It is unclear what Tyson’s net worth currently is, with various publications reporting a figure anywhere between $3 million and $10 million.
Source: Money Inc. and Celebrity Net Worth.
In the aftermath of his retirement from the ring in 2005, Tyson was arrested for cocaine possession and driving under the influence in 2006. In 2007, he pled guilty to drug possession in an Arizona court. He was previously arrested in 1991 for the rape of an 18-year-old, for which he was convicted in 1992.
He remains a regular at boxing shows as he’s seen ringside at the sport’s biggest fights.
He taught Serena Williams how to throw punches, and later said he wouldn’t “want to get in the ring” with her.
He can also be seen at tennis matches with Spicer.
To slowly rebuild his fortune, Tyson starred in Hollywood movies like ‘The Hangover’ franchise.
He earned $100,000 for a cameo role he claimed he took “to supply” his “drug habit,” he said on an ESPN radio show at the time.
Source: NY Daily News and ESPN.
This period in Tyson’s life appeared to be a positive turning point for him. He abstained from drugs and alcohol, and transitioned to a vegan diet, too. “I didn’t have a problem with drugs or nothing, I had a problem with thinking … my thinking was broken. That was the solution to my broken thinking — using drugs and living crazy.”
Source: NY Daily News and ESPN.
He later appeared on a Madonna track, starred in another movie called ‘Ip Man 3’, and took part in a six-episode docuseries on Animal Planet called ‘Taking on Tyson’ that focused on the fighter’s pigeon racing endeavor. A collaboration with movie director Spike Lee for a one-man show called ‘Undisputed Truth’ also proved popular.
He then launched a podcast called ‘Hotboxin’ with Mike Tyson,’ on which the legendary boxer is surprisingly candid.
Another of his business interests includes a cannabis empire he built with business partner Alki David, called Tyson Ranch. It reportedly generates $900,000 per month.