Mike Tyson is a retired American boxer. In the late 1980s, he was the undisputed heavyweight champion of the world. Mike Tyson has a net worth of $10 million as of this writing. Mike was one of the most famous and highest-paid athletes in the world during his prime. At the age of 20, he was the youngest champion in history. Regrettably, he squandered and/or was duped out of a personal wealth that peaked at over $300 million. In 2003, Mike declared bankruptcy. He was reported $23 million in debt at the time of the bankruptcy filing.
During his career, Mike Tyson earned at least $430 million in purses and endorsements, about $700 million after adjusting for inflation.
ESPN labelled him “The Hardest Hitter in Heavyweight History,” while Sky Sports dubbed him “the most vicious boxer to go into a professional arena.” Although Tyson was a great fighter, his reputation was damaged by controversy in and out of the ring.
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Childhood
Mike Tyson was born Michael Gerard Tyson in Brooklyn, New York on June 30, 1966. Tyson grew up in an impoverished neighbourhood, where his stepfather was involved in criminal activity and gambling. Tyson and his mother relocated when he was ten years old due to financial difficulties.
Tyson had been arrested for 38 offences by the age of 13, frequently battling larger youths who mocked his voice (Tyson speaks with a lisp). Tyson’s fighting ability was found during his high school years by a juvenile detention instructor and a former boxer. After training with a few different trainers, he was introduced to Cus D’Amatto — a trainer who would have a profound influence on the future boxing champion.
Tyson’s mother died when he was sixteen, and D’Amatto became his legal guardian. Tyson has also worked with Kevin Rooney since he was a child.
Private Life
Mike is a three-time married man. He is the father of six children. He is a devout Muslim who adheres to sobriety.
Education
Tyson attended Johnstown, Pennsylvania’s Tryon School for Boys and finally left out of high school to pursue a professional boxing career.
Boxing Career in the Beginning
Tyson’s first exposure to professional boxing came at the 1981 and 1982 Junior Olympics when he won gold medals. He also competed in the 1984 Summer Olympics but lost two fights to Henry Tillman. Tyson made his professional debut at the age of 18, defeating Hector Mercedes via first-round TKO. This would be the beginning of a rising pattern for Tyson, who routinely finished fights in the opening round.
Tyson continued to fight more difficult opponents than he had ever faced, with many forecasting an early rise to prominence. Cus D’Amatto died in 1985, and Tyson suffered an early loss of a father figure. Numerous commentators later remarked that this had a destabilising effect on Tyson’s later life.
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Breakthrough
Tyson truly made his mark on the world stage when he defeated Jesse Ferguson in a nationally televised bout. The outcome of the bout was predetermined after Tyson struck Ferguson with an uppercut that shattered his nose. Tyson prevailed after Ferguson was disqualified for clinching improperly.
Tyson’s bout with Marvis Frazier, a previous world title challenger, was another televised event. Tyson won the bout with a knockout in less than 30 seconds. Tyson defeated Trevor Berbick in the second round in 1986 to become the sport’s youngest heavyweight champion. He successfully defended his title against James Smith in 1987 to establish himself as the undisputed heavyweight world champion. He defeated Pinklon Thomas in a 12-round bout to capture the IBF title the following year. Tyson became the first heavyweight in history to hold all three major belts simultaneously.
Tyson defeated former champion Larry Holmes in 1988, knocking him out in the fourth round. Tony Tubbs met a similar demise that year, losing via TKO in the second round. Tyson concluded the year with a win over Michael Spinks. Even though many commentators projected a difficult battle for Tyson because of Spinks’ technical ability, Tyson knocked him out in 90 seconds.
Tyson’s career appeared to take a downward turn from that point on. Tyson chose to terminate Kevin Rooney after a series of personal problems surfaced – the guy credited with developing Tyson into a top fighter following D’Amatto’s death. While Tyson continued to win fights in 1989, his career took a significant hit when he was defeated by Buster Douglas in 1990.
Douglas battled with passion and determination, having lost his mother to a stroke 23 days before the fight. Douglas launched a combination in the tenth round that knocked Tyson to the canvas for the first time in his career. In one of the most startling upsets in sporting history, he was counted out by the referee.
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Tyson continued to win in 1991 before his career was cut short by legal difficulties. Tyson spent six years in prison after being arrested for rape. Tyson converted to Islam around this period. Mike Tyson was legally obligated to register as a sex offender upon his release.
Tyson’s comeback was initially successful, as he knocked out several opponents en route to reclaiming two of his belts. He lost his WBA title, though, when Holyfield returned from retirement to knock out Tyson in round 11. Tyson lost the rematch after he was disqualified for biting Holyfield twice. Worse, Tyson’s boxing licence was revoked in 1997.
Tyson returned to professional boxing in 1999, knocking out Francois Botha — only to be arrested and sentenced to nine months in prison for allegedly assaulting two motorists. When he returned to boxing upon his release from prison, he knocked out a string of opponents in the first or second round. He knocked out Lou Savarese in 38 seconds in 2000.
Tyson’s final professional victory came in 2003 when he won in 49 seconds against Clifford Etienne. Mike Tyson retired in 2005 following a series of failed comeback fights, injuries, and defeats.
Boxing Techniques
Cus D’Amatto taught Mike Tyson the “peek-a-boo” style of defensive boxing, which emphasised a high guard and quick head movements. This is also an aggressive counter-punching style that relies on charging the opponent, forcing him to swing, and then exploiting openings. Tyson was renowned for his powerful punches and his ability to bob and weave. Tyson’s hitting strength was largely derived from his legs, and he was well-known for finishing fights with a right hook and subsequently an uppercut.
Earnings Potential
Mike signed a $27 million eight-fight contract with HBO in 1987, which lasted until his fight against Alex Stewart. Tyson took two minutes and 27 seconds to defeat Alex Stewart. He subsequently signed a multi-fight, $120 million contract with Showtime, which included Holyfield I and II.
Mike earned at least $430 million over his career via fights and endorsements. That equates to almost $700 million in today’s dollars.
For years, it was widely believed that promoter Don King pocketed a sizable portion of his earnings, at least his pay-per-view earnings. A subsequent court case revealed that Mike’s contract with King guaranteed the promoter 30% of his earnings.
In Nevada, this was technically prohibited. Don, it is believed, would deduct 50% from the top before cutting a check to Mike after incurring strange additional fees. For instance, $100,000 for each fight would be paid to Don King’s wife as a consulting fee. Additionally, Don King’s sons received $50,000 per fight consulting fees. Mike paid the President of the Mike Tyson Fan Club $1,000 per week at his peak. President King was revealed to be Don King’s daughter.
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At other times, creditors such as the IRS garnished his earnings. Tyson, for instance, was compensated $8 million to fight Danny Williams in 2004. Regrettably, the IRS garnished $6 million of those proceeds, leaving Mike with only $2 million for his efforts.
Mike’s earnings between November 1986 and his final professional fight in 2005 are detailed here. As you can see, his greatest paycheck BY FAR came in 2002, when he earned $103 million facing Lennox Lewis. Around $75 million of that $103 million came from a pay-per-view bonus.
Fees for In-Person Appearances
For the larger part of the last two decades, Mike has called Las Vegas home. He makes personal appearances in Las Vegas at parties and corporate events, where he earns a decent living. Mike’s appearances are priced at $75,000 for two hours.
Mike Tyson Endorsements
In 1986, when Tyson became the youngest heavyweight champion in history, he got endorsement deals from substantial brands like Pepsi, Nintendo, Eastman Kodak, and EA Sports just to name a few. When it was revealed that Tyson was striking his then-wife Robin Givens, sponsors automatically distanced themselves from him.
Tyson redeemed himself in the public eye by participating in a variety of films and television series, which resulted in fresh endorsements. Smart Cups, Parimatch, Manscaped, and CopperGel are just a few of the recent transactions he’s made.
Mike Tyson’s Investments
Apart from tiny commercial enterprises, Tyson was focused on the legalisation of cannabis. As a result, he launched the ‘Tyson Ranch’ in 2017, which currently sells roughly £500,000 worth of Medical Marijuana per month.
Near the ranch, he presents his popular podcast, “Hotboxin’ with Mike Tyson.”
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Mike Tyson Makes His Hollywood Debut
Tyson’s boxing career was a big success, and he ultimately chose to pursue acting. For the boxer, who had property in Los Angeles, this was an easy choice. He was quickly approached for a variety of acting roles. The most notable of these was his portrayal in the hit film series The Hangover. He earned a total of $300,000 from these two outings! Tyson appeared in Rocky Balboa, IP Man, and Scary Movie 5. Tyson has amassed a fortune as an actor.
Mike Tyson Mysteries is an animated series in which he starred and produced. Mike Tyson, a former boxer, just launched a boxing podcast called Hotboxin’ With Mike Tyson. Tyson and Henry Cejudo look like they’re having a great time in this video.