Mike Tyson Net Worth

Mike Tyson is now retired, but during his heyday, he was one of the most well-known boxers of his time. He was one of the highest-paid athletes and made headlines as the youngest boxer champion in professional boxing history. At one point, he had amassed a fortune of $300 million, but what is the Mike Tyson net worth now?

Mike Tyson’s Net Worth

The fortune of this heavyweight boxer has drastically decreased and then increased again. At one point, he was in the negative. Now, Mike Tyson’s net worth is estimated to be $10 million. 

Early Life Mike Tyson

Mike Tyson was born Michael Gerard Tyson on June 30, 1966. His biological parents are Lorna Mae Smith and Purcell Tyson, but Mike never knew his biological father.

One of the Mike Tyson mysteries is that no one knows if Tyson’s biological father is even alive at this point. He stated he was told that Jimmy Kirkpatrcik Jr., his mother’s partner after her split with Purcell Tyson, was his father, and that might be a possibility.

He spent the early years of his childhood in his hometown of Brooklyn, New York, in a rough neighborhood where his stepfather was frequently involved in crime and gambling.

Tyson grew up with two older siblings, Rodney Tyson and Denise Tyson. 

Then, at ten years old, Mike Tyson found himself forced to move due to financial reasons. He was frequently bullied for speaking with a lisp, which landed him in one fight after another. By the time Tyson was 13, he had been arrested 38 times. 

However, there was one teacher in his school at a juvenile detention center that saw the potential in his fighting. As a former boxer, he encouraged Tyson to do more. It wasn’t long before Mike Tyson decided to start meeting with trainers. 

Tyson’s mother passed away when he was 16, and his trainer became his legal guardian. Cus D’Amatto would have a drastic impact on the future of the young champion. Unfortunately, D’Amatto passed away in 1985. Many say that losing this father figure had a drastic impact on his career later in life. 

Early Boxing Career

Tyson began his career at a young age. As a teenager, Mike Tyson fought in the Junior Olympics, where Tyson won two gold medals. He fought again in the 1984 Summer Olympics but lost. 

As soon as he turned 18, the future boxing champ headed into the professional ring. During this fight, Tyson beat Hector Mercedes with a TKO in the first round. It started the trend of him beating his opponents in the first round that would last off and on throughout his career. 

Becoming Recognized Throughout The World

As the professional boxer continued to fight more challenging opponents, he quickly became recognized throughout the world as one of the best heavyweight boxers.

A televised fight with Jesse Ferguson that saw him win made some realize that Mike Tyson was well on his way to stardom. Other notable moments that led to his increase in fame included: 

• Knocking out Marvis Frazier, a former champion in thirty seconds
• Beating Trevor Berbick to become the youngest heavyweight champion in history in 1986
• Became the undisputed world heavyweight champion of the world in 1987 when he defended the heavyweight title and won
• Beat Pinklon Thomas in 1987 to win the IBF titles
• Became the first person to ever hold all three of those titles at the same time

The year 1988 saw Tyson’s career at its peak as he won one fight after another. When the odds were stacked against him against Michael Spinks, he shocked the world with a knockout only ninety seconds into the match. 

A Downward Spiral Began

However, it was soon after this that Mike Tyson’s career began to head downhill. He fired his manager, Kevin Rooney. 1990 is when Mike Tyson lost to Buster Douglas during the tenth round, which shocked the world. Then, he seemed to be gaining ground again in 1991, but that quickly came to a halt. 

Mike Tyson was convicted of rape and spent six years locked away. He was then required to register as a sex offender but converted to Islam during his time behind bars. 

After being released, Tyson seemed to be on his way to making a massive comeback. Then, Evander Holyfield took a break from retirement to deliver a stunning knockout and beat Mike Tyson. During the rematch, Tyson bit Holyfield. This was one of the biggest controversies of Tyson’s career and led to him being disqualified. 

His boxing license was rescinded in 1997. 

Then, he attempted another comeback in ‘99. It was short-lived because Mike Tyson assaulted two motorists and was sent back to prison for another nine months. 

In 2000, the legendary boxer began boxing again upon his release. His comeback was stronger than his other attempts in the beginning. He was quick to knock out his opponents, with one only lasting a record forty-nine seconds in the ring with him thanks to Tyson’s fighting ability. 

However, his last win in the boxing ring was in 2003. After that, Tyson saw defeats and losses, which most believe led to his retirement in 2005. 

Boxing Career And The Mike Tyson Net Worth

During Tyson’s boxing career, Mike Tyson earned most of the Mike Tyson net worth. As he became known for being one of the best heavyweight fighters, his earnings skyrocketed. He easily made $430 million from endorsements alone. Tyson was dubbed the hardest hitter in heavyweight history by ESPN as well as the most ferocious fighter by Sky Sports, earning him the nickname Iron Mike. 

However, it was later discovered that a large portion of his earnings wound up going to his promoter, Don King. Don King was entitled to 30% of his winnings according to a contract that both signed, but it was later determined that it was not legal to do that in Nevada. 

King also paid his family with Tyson’s money. Tyson was paying the president of his fan club $1000 per week, which turned out to be the daughter of Don King. King’s wife and sons were paid for being “consultants.” Some claim that King made out with about 50% of Tyson’s earnings during his career. 

Filing Bankruptcy

In 2003, Tyson had squandered a large portion of his fortune or been conned out of it. In fact, all of it was gone. Mike Tyson filed for bankruptcy. The net worth of Mike Tyson was -$23 million at the time of the filing. 

Where Is Mike Tyson Now?

Tyson briefly came out of retirement in 2020 for a fight with Roy Jones Jr. and had a chance to win $10 million. However, Tyson stated he would donate a large portion to charity. He is now religious, practices sobriety, and is far from the man that wanted to flex his lavish lifestyle to the world. 

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