How much is Mike Tyson worth?
|Net Worth:||$3 Million|
|Date of Birth:||June 30, 1966|
|Country:||United States of America|
About Mike Tyson
A lot can happen in slightly over 21 years. Children become adults, saplings grow into trees, but only one person has been able to capture the world heavyweight title in that amount of time. That man is known to some as “The Baddest Man on the Planet,” but to the rest of the world, he is known as Mr. Mike Tyson became the heavyweight champion of the world at age 21. Tyson has had a tumultuous career with numerous ups and downs, but here is a quick look at the highlights to see just how he became a household name.
As of 2020, Mike Tyson has an estimated net worth of just $3 million dollars. Which is very low considering boxers like the great “Money” Floyd Mayweather completed his boxing career with over $500 million. And at one point Mike Tyson was reportedly worth as much as $650 million… so what happened?
First, What Made Tyson So Successful?
Growing up in neighborhoods with high crime rates, it is almost certain that you’re going to have to learn how to fight. When the law of the land is violence, you get tough. This toughness played a significant role in his success. He was able to achieve success by intimidating his opponents with his raw power and tenacity. He also had excellent accuracy timing and coordination. His success in the ring was inevitable when all of these attributes were paired with his exceptional defensive skills.
There were also a lot of supporting characters along the way that enabled him to reach the level of success that he did. Cus D’Amato was introduced to Tyson by his counselor, who recognized the fighter’s skill while he was in the juvenile detention center. D’Amato would pass away just before Tyson was able to rise to the highest peak of his fame. Many think that this was a critical factor in the issues that plagued Tyson later in his career. If you watch the Joe Rogan podcast featuring Mike Tyson you’ll learn that D’Amato was a full on coach, even employing strategies like hypnosis so says Tyson to give him the best mindset to win in the ring.
Through his sheer will to achieve success and relentless determination, Tyson overcame any obstacle thrown his way. In the end, the reason he achieved so much was that he approached challenges with a fearless vigor and was always looking for ways to improve himself. In this way, there is much that can be learned from Tyson and applied to our day to day lives.
Current boxing champion Tyson Fury is named after Mike Tyson. Tyson has also inspired Deontay Wilder and Anthony Joshua.
How did Mike Tyson make and lose his money?
Tyson started building the most significant part of his fortune during what many consider to be his “comeback” period. This period was in the late 90s, and it included a number of prolific boxing matches. The first would be his famous match with Holifield, where he earned a whopping $30 million. Later the next year, he would set a pay-per-view earnings record by grossing more than $63 million in the United States, and $96 million worldwide. He would eventually earn enough to land himself a spot in the top 20 of the highest-paid athletes of all time. He is on the list at number 14, making $700 million throughout his career.
Unfortunately for Tyson, his lifestyle and being convicted of rape would prove to be the Achilles heel of his fortune. This would all start in 1992 when he was found guilty of rape. After the guilty verdict was delivered, he served three years of his six-year prison sentence. In 2003, after his retirement, the extravagant spending he indulged in and a hefty divorce settlement would eat away $32 million of his fortune. Then he would later lose another sizable portion of his wealth due to unpaid taxes to the tune of $17.4 million. When all was said and done, Tyson would lose almost all of his money when he was forced to declare bankruptcy.
When Tyson got rich he went a little crazy with his lifestyle and spending habits, for example pictured here with his pet Tiger, things started getting pretty bizarre…
Keeping with the tradition of being a world-class fighter, he eventually found ways to earn back portions of his wealth. Proving his versatility, he would go on to earn money through a cameo as himself in the movie ‘The Hangover,’ in addition to a role in an Adult Swim show. In the end, his fighting spirit and determination would lead to a net worth of $3 Million. While this is not the hundreds of millions he amassed in his career, it is no small sum by any standards.
Why is Mike so famous?
Mike Tyson started his boxing career purely by chance. He was discovered in a detention center by a former boxer, who recognized his talents. This fateful set of events happened when we was only 13 years old and would be the defining moment that shaped his legacy. He would start his ascension into the world of boxing, and fame, by winning gold medals as an amateur in the Junior Olympic Games in 1981 and 1982.
Three years later, he would startle the boxing world when he won his first professional match by TKO in the first round. This began his winning streak and a string of first-round victories that would lead him to the larger stage where he gained most of his notoriety. His fame and infamy were sealed and set in stone when he won the world heavyweight title from Trevor Berbick in 1986, one year after his debut into the professional world. Eventually, in 1988, he would win a boxing match with Michael Spinks in only 91 seconds. This jaw-dropping show of dominance would be what many consider to be the most famous point in his career.
At this point, Tyson was at the height of his fame, and his bizarre antics would prove to be a factor in his ability to remain in the limelight. Larger than life personality traits would also keep him relevant and play into his fame. Things like a large tribal face tattoo, numerous criminal and drug charges, and financial ruin would all do their part to keep his name relevant. Perhaps one of the most famous events that Tyson is known for was his bizarre fight with Evander Holifield dubbed the ‘Bite Fight’ where Tyson was disqualified for biting his opponent’s ear and spitting it on the mat.
Throughout his career, he has had numerous notable moments. These range from winning titles, to biting the ear of his opponents. Throughout the highs and lows that have occurred along the way, Mike Tyson has succeeded in reaching a level of fame and success that is only a dream to most.