Once a boxing icon with a fortune worth hundreds of millions of dollars, Mike Tyson has overcome bankruptcy and is reviving strongly thanks to many new sources of income.
How much is Mike Tyson worth now?
According to Celebrity Net Worth, in 2020, Mike Tyson’s fortune was only estimated at around $10 million. This is a fairly modest figure compared to the peak of his career. However, the boxing legend’s fortune is showing signs of strong growth, especially after his upcoming match with YouTuber and boxer Jake Paul.
The fight will take place on November 15 and will be streamed on Netflix. While the pay packet has not been officially announced, former UFC champion Henry Cejudo predicts Tyson will earn around $20 million from the fight, while Jake Paul could pocket $40 million. Dramatic events leading up to the fight, such as Tyson slapping Jake Paul during the weigh-in, have also added to the event’s hype.
Mike Tyson and Jake Paul are scheduled to fight at 11am on November 16.
How much did Mike Tyson earn in his career?
Mike Tyson’s career has been a massive success, with an estimated $340 million in earnings from his boxing matches. According to DraftKings, he has had 15 fights broadcast on Pay-Per-View, with eight of them attracting at least 1.2 million buys.
Tyson’s biggest payday was his 2002 fight with Lennox Lewis, where he earned $100 million despite being knocked out. Forbes once ranked Tyson as the 11th highest-paid athlete of all time, with an estimated career earnings of $685 million.
However, Tyson could not keep this huge fortune. In 2003, he declared bankruptcy with debts of up to 23 million USD. Sharing on The View in 2010, Tyson admitted: “I am completely broke… but I have a wonderful family and I feel grateful for that.”
Mike Tyson was once rich
How did Tyson overcome bankruptcy?
After his bankruptcy, Mike Tyson began rebuilding his life from various sources of income. He acted in movies, accepted appearance fees at events, and participated in exhibition fights. One of Tyson’s big forays was investing in the cannabis industry.
Tyson founded Tyson 2.0, a company that produces cannabis products. Notably, he launched a line of “ear-shaped” gummies inspired by the incident in which Evander Holyfield bit his ear during a 1997 fight. “I was a world champion in boxing, and now I’m a champion in cannabis,” he told Forbes Australia. “We want our products to be available in every country in the world.”
How does Mike Tyson spend lavishly?
During his heyday, Tyson was known for his lavish lifestyle and unbridled spending. According to Celebrity Net Worth, he “threw money out the window” on mansions, supercars, expensive jewelry, lavish gifts for strangers, and even a collection of Bengal tigers.
Tyson is now focusing on his business ventures and maintaining a more balanced lifestyle. His strong financial recovery is a testament to his ability to reinvent himself, even after going through deep crises.
