Mike Tyson Net Worth & Earnings: Mike Tyson is a retired American heavyweight boxing champion with a $3 million net worth.
“Iron Mike” was the world’s highest-paid athlete during his golden era.
Regrettably, he lost a substantial wealth that exceeded $300 million. He then declared bankruptcy in 2003.
You might wonder how Mike Tyson lost his fortune.
That’s what we’re going to unveil in this article.
Stick around because we’re going to talk about his net worth, how he earned a large stack of cold cash, and how his life went downward spiral in just a snap.
Today, we’ll be looking at:
- His business ventures;
- The controversies he faced throughout his career;
- His lavish spending – which led to his financial downfall;
- His best assets – mansions, car collection, motorbike;
And so much more!
Now, I present to you the “baddest” man on the planet – Mike Tyson!
Ladies and gentlemen…
Let’s get ready to rumble!
Who Is Mike Tyson?
“The Baddest Man on the Planet,” Tyson is distinguished as one of the best heavyweight champions in history.
Michael Gerard Tyson – most popularly known inside the boxing ring as Mike Tyson – is a former American professional boxer, actor, film producer, and businessman born on June 30, 1966, in Brooklyn, New York.
In 1986, he became the world’s youngest heavyweight boxing champion…
… and he was only 20 years old then!
However, in 1990, he lost the title to Buster Douglas, the underdog who knocked him out in the tenth round and then spent three years in jail on sexual assault charges.
Though Tyson was a world-class boxer, there were still controversies in and out of the ring that hampered his image.
Want to know more? Read everything there is to know in his Bounce Mojo Bio!
|Mike Tyson Net Worth: $3 Million|
|Date of Birth: June 30, 1966|
|Relationship Status: Married – Lahika Spicer|
|Profession: Professional Boxer, actor, film producer, and entrepreneur|
How Much Is Mike Tyson Worth?
Mike Tyson is worth only $3 million as of the current year. He earned $300 million throughout his 20-year career in boxing until he had lost it all.
Mike Tyson Net Worth Year By Year
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Mike Tyson Career Earnings By Year
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Mike Tyson Earnings Fee Range
Mike has been calling Las Vegas home for the last two decades. In Vegas, he earns a living by making personal appearances at parties and corporate events. Some reports would say he charges people $75,000 for a two-hour personal appearance.
Business Ventures, Endorsements & [Products]
Tyson filed for bankruptcy in 2003 and lost all of his money.
… he was still on the game, and he’s able to redeem himself from his downfall.
Not long after Mike Tyson retired from his boxing career, he founded his own cannabis company, Tyson Ranch, which he says is his dream venture. He did that in partnership with Rob Hickman in 2016.
According to some reports, he is making a ton of money from it. Tyson profits about £500,000 a month from his cannabis company selling marijuana strains, edibles, and other cannabis extracts to places where marijuana use is legalized.
He has been a substantial user of cannabis for an extended period.
And the best part?
It’s when he finally decided to take advantage of this to earn money. Hence, Mike Tyson’s life was never the same anymore after his cannabis business in 2016.
He also began to pursue other business ventures after his retirement.
In 2009, he made a cameo appearance in the comedy film The Hangover. His excellent performance opened new doors of opportunities. He was given guest spots in television series such as Entourage, How I Met Your Mother, and Law & Order: Special Victims Unit.
In addition to that, he debuted his one-man show Mike Tyson: Undisputed Truth, which was directed by Spike Lee.
See the complete list of films he’s been featured in throughout his career below.
After a bachelor party, three groomsmen wake up in their hotel room in Las Vegas to discover the groom is gone, and they can’t recall what they did the night before.
The Hangover Part II
Bachelor’s party survivors Phil, Stu, and Alan, are going through another night of passionate revelry-this time in Thailand-in this scandalous sequel.
Ip Man 3
The third in the Ip Man film series, the film is based on the Wing Chun grandmaster Ip Man’s life and features Donnie Yen.
Being: Mike Tyson
It is a six-episode TV series that features Mike Tyson’s personal and private life.
Mike Tyson: Undisputed Truth
Tyson’s debut one-man show where he is reflecting on his professional and personal life on screen.
Want to see more of Iron Mike on screen? Follow the Amazon US links above.
The heavyweight champ has also published some books after retiring from boxing. Check them out below.
During the peak of his career, he partnered with big companies such as Toyota, Nintendo, Suntory Beer, Kodak, Pepsi, and lots more.
… the odds were not in his favor.
Due to the controversies he sank his teeth into, all the sponsors he had and deals he made were lost – which contributed to his financial struggles.
But that’s just one side of the story…
He made a comeback, and fate fared well with him this time.
In October of 2017, Tyson was revealed as the new face of the Australian car service company Ultra Tune. He took over the role of Jean-Claude Van Damme from advertising the brand on television.
Check out Mike Tyson’s Ultra Tune Ad on the YouTube link below.
Mike Tyson and Rob Hickman founded Tyson Holistic Holdings in 2016, which operates and owns a cannabis-related venture portfolio. It sells marijuana strains, edibles, and merchandise.
Iron Mike has been planning to build a 418-acre weed-themed resort wherein a luxury hotel, and Tyson University will be constructed to teach aspirant farmers how to cultivate cannabis.
On top of that…
…his company manufactures a CBD-infused CopperGel product that is scientifically proven to offer relief from muscle joint pain and arthritis, as well as CBD doggy therapy.
He also made use of his moolah in the CHILL, a business that makes alkaline CBD water.
Mike Tyson Controversies & Litigation
Legendary boxer also battled with several legal problems throughout and even after his boxing career. Here are those:
Mike Tyson vs. Desiree Washington (1991)
The ex-heavyweight boxing champ was charged with raping Desiree Washington, an 18-year-old Miss Black American contestant in 1991.
It just so happened Tyson was invited to take part in the Summer Celebration wherein the Miss Black America pageant will also be held.
However, as soon as Tyson landed at Indianapolis International Airport on July 17, 1991, he knew he’d encounter 23 aspiring beauty queens.
When he entered the Omni Hotel’s rehearsal hall on July 18, the beautiful contestants immediately surrounded him. There he met a young beautiful Desiree Washington, from Coventry, Rhode Island.
And that’s where it all began…
In the early hours of July 19, 1991, he invited Washington to his hotel room where he reportedly raped the young woman.
The next day, Desiree went to the nearby Methodist Hospital to check and claimed that the boxer had raped her. Contrarily, the fighter believed sex was mutual.
On March 26, 1992, after almost a year of litigation, Tyson was found guilty with one charge of rape and two deviant sexual behavior charges. Due to Indiana state law, Tyson was ordered to serve six years in prison. He was released in March 1995 after serving three years behind bars.
Mike Tyson vs. Mike Landrum (2010)
In 2010, Mike Landrum, another former boxer sued Tyson, for $115 million in damages claiming that the moniker “Iron Mike” was his trademark since 1983.
However, in the legal system, the case did not go too far as it was dropped because of a lack of objectivity and promptness in the operation process. Never did the prosecution hit the point of having a jury.
But wait, there’s more.
Mike Landrum didn’t stop his legal battle with Tyson. He sued Tyson again for $55 million.
That’s the reason he wanted to end the use of the nickname in any boxing-related ventures.
But then again…
…the case didn’t succeed in the legal system.
Mike Tyson vs. Don King (1998)
The former heavyweight boxing champion sued his boxing promoter, Don King, and his company over fraud and theft for $100 million in damages. The lawsuit was filed in the federal U.S. District Court in Manhattan.
What’s even worse…
The lawsuit claimed that the promoter has been stealing Tyson’s hard-earned money from boxing for over more than a decade and that he used Tyson’s ignorance of contracts.
“Despite his gross conflicts of interest, King approved one-sided, unconscionable and oppressive agreements between his companies and a boxing industry that wanted to benefit from the huge value of Tyson’s fights,” the lawsuit claimed.
Mike Tyson vs. Robin Givens
Tyson’s first wife, Robin Givens, filed a 125-million-dollar libel suit against him.
The actress charged the boxing champ for publicly humiliating her and branding her “slime” and accusing her of taking his money.
When the couple divorced, Givens claimed that she didn’t want Tyson’s money after ending their marriage…
Then, she came out and asked to reclaim her own money, which includes $300,000 in fees from Pepsi and Toyota commercials and $600,000 in reimbursement for the money she provided for Tyson.
Tyson’s lawyer, Howard Weitzman, called the libel case “laughable.”
But that’s not all…
She had also given Tyson a cease and desist order for defaming her on his new biopic movie and in his podcasts.
Her legal team demanded Tyson to notify those who produce, write/direct the biographical movie about him to not characterize Givens in a libelous manner.
Mike Tyson vs. Monica Turner (2002)
Monica Turner, Mike’s wife of 4 years, filed for divorce in Montgomery County Circuit Court, claiming that his husband, Tyson, had cheated on her.
On the other hand, Tyson filed a counterclaim stating, “The basis is that the parties are presently incompatible.”
… many hoped that the two would be reconciled or at least have a peaceful and untroubled dissolution.
Iron Mike has been living a life of luxury back in the day.
Not until he lost it all…
His excessive spending on lavish things sunk his good fortune.
It was reported that he loved partying, and that meant involving many women. He would sleep with most of them. And since these were parties, we can expect that he also spent a great deal of his dough on food, alcohol, and drugs.
Typical of rich folk!
What’s more, he would also spend his moolah buying these expensive girls’ gifts like a brand new car. Visibly, Tyson loved to spend his cash on women.
He also spends his money on wild animals (says so much about himself).
Michael once had a pet tiger. He splurged a lot of money taking care of it, not to mention the cash he paid in settlement for somebody bitten by it.
In addition to that…
… he also had even more personal matters to cope with. He had several failed marriages resulting in him paying millions in settlements.
All of these led him to bankruptcy back in 2003.
Mike Tyson Houses
The former heavyweight champion purchased a 10,401-square-foot Italian-style mansion in the gated Seven Hills community in Henderson, Las Vegas, for $2.5 million – which he sold for about $1.5 million in 2016.
This Italian-style home features six bedrooms, 6.5 bathrooms, a master suite with a step-up soaking tub, four fireplaces, and a private balcony.
Michael also bought a 19,000-square-foot property in 1995 in Bethesda, Maryland, with his ex-wife, Monica Turner. However, it landed on the market for $8.5 Million.
This luxurious home has seven bedrooms, a large gym, pool, piano room, sports court, media room, and a game room.
This abandoned 13,500-square-foot Trumbull county mansion was once home to Mike Tyson. However, he sold it to Paul Monea for a whopping $1,300,000 million due to financial problems.
It has a boxing glove shaped indoor pool, with a basement with almost 6,000 additional square feet and surrounding 58-acre property.
It was recently donated to The Living Word Sanctuary, which proposes to renovate it and make it their house of worship.
Mike Tyson Cars
At the peak of Mike’s success, he’s been spending his time on things such as orgies, mansions, and expensive cars – the reason why he ended up filing for bankruptcy just before he had ended his boxing career.
The former boxing champ also has a classic car collection, which is more sumptuous than you think.
Here’s a peek at a few of the most deluxe cars Mike Tyson has ever owned.
1985 Cadillac Eldorado
1985 Cadillac Seville
Rolls-Royce Silver Spur
1989 Mercedes-Benz SL-Class 560SL
1995 Ferrari F50
Ferrari 456 GT Spyder
Lamborghini Super Diablo Twin Turbo
1997 Bentley Continental T
2000 Lamborghini Diablo VT Roadster
Mike Tyson Motorbikes
Havoc Motorcycles Iron Flight: Mike Tyson special edition
- Robin Givens, his ex-wife, cheated on him with Brad Pitt.
- He was imprisoned 38 times at the age of 13.
- Before his big matches, he tended to use other people’s urine to fake his drug tests.
- He used to have sex in a bathroom with Naomi Campbell while there was a party right outside.
- He once beat up seven prostitutes in his hotel room while high on cocaine.
- He walked out in the seventh round during his last ever fight.
- He took singing lessons to prepare for his appearance in The Hangover Part II.
- He founded the company “Iron Mike Productions.”
- After adopting Islam, he used the name Malik Abdul Aziz.
- He was knocked out by one of his pet tigers once knocked out, having caused his gold teeth to shatter.
Mike Tyson Philanthropy
Though seen as the most spine-chilling man on earth, Mike Tyson still has some goodwill hiding in his inner heart.
He launched a foundation in October of 2012 named Mike Tyson Cares Foundation, which aims to “give kids a fighting chance” by addressing children’s extensive needs coming from a broken family.
It also provides necessities such as health and education assistance, housing, mentorships, career mentoring, and any other needs that the foundation considers essential for the child’s aid.
Besides that, he also supported the Laureus Sport for Good Foundation and the Marty Hennessy Inspiring Children Foundation, which inspire children by mentoring, training, and sports and empowering them with life skills and the opportunity to receive a college scholarship.
Kudos to you for that, Mike!
- Don’t waste your money. Don’t burn your money over the temporary material things in life.
- Don’t hang out with the wrong crowd. Never associate with people who will corrupt your good morals. Avoid them.
- Don’t be overconfident. Tyson was known to be undefeated not until he fought with Buster Douglas. He was so confident that he did not even prepare for the match. Little did he know that he’d be knocked out and would lose his title. What’s the bottom line? Never put your confidence in yourself.
- Never let success get into your head. When Tyson was at the peak of his success, he thought all his actions were ethical. And because of that, he felt he could get all the girls he wanted. As a result, he was sentenced to prison after an 18-year-old candidate cried for rape, making his career spiral downward.
- Have a mentor in your life. He failed to have a mentor who will advise him, especially on his financial endeavors. The point is, no man can be successful without the guidance of other people.
Frequently Asked Questions (FAQs)
What is Mike Tyson’s net worth?
Mike Tyson’s net worth is only $3 million, thanks to years of reckless spending that pushed him to file for bankruptcy in 2003.
What does Mike Tyson do now?
Right now, Mike is expanding his business, Tyson Ranch, in Vegas and getting his products available as possible to more consumers.
Who has defeated Mike Tyson?
Mike Tyson was defeated by James Buster Douglas, who knocked him out in the 10th round.
How long was Tyson in jail?
In 1992, Tyson was convicted of rape and sentenced to six years in prison.
How many fights did Tyson lose?
Tyson took part in a total of 58 fights in his professional career. Fifty of those he won, 44 of them being by knockout. Among the fights he did not win, he officially lost six.
Summary: Mike Tyson Net Worth
So that’s about the juicy bits of Tyson’s net worth all rolled into one.
His life may be full of bad decisions and regrets, but one thing’s for sure – he learned from it all.
Sometimes, all we need to do is simply embrace our mistakes because that’s how we grow as a person.
Just like Mike Tyson, he sure had ups and downs throughout his personal life and career…
…yet he managed to make a comeback – with an even more positive outlook in life.
I hope you enjoyed this article – you might also want to check out Mike Tyson’s Bounce Mojo Bio and the best Mike Tyson memes.
Put The Bounce In Your Mojo Today!