Mike Tyson Net Worth - How Rich is the Former Heavyweight Champion?

Mike Tyson was a multi-millionaire with hundreds of millions to his name, but he ended up losing it all. Stay here as we take you towards the details of his net worth and income sources.

Like Pele to football and Michael Jordan to basketball, Mike Tyson is for boxing. The 54-year-old retired boxer holds the reputation as one of the best heavyweight boxers of all time, who even had the nickname of 'Iron Mike' and 'The Baddest Man on the Planet.' Furthermore, he was even the youngest boxer to win a heavyweight title following his victory at the age of 20 years, four months, and 22 days old.

Mike Tyson is a legendary figure in all-time boxing, as he won 50 of his 58 fights throughout his highly successful career. The former WBA and WBC heavyweight champion made a massive fortune alongside fame from fighting and winning a lot of matches. Consequently, he became one of the richest boxers in the world at one point, but some bad decisions in his life made sure that the money didn't stay in his account for a long time.

Mike Tyson's Net Worth Was Cut By 10 Times

Boxer  Mike Tyson gathers a net worth of $3 million.
Photo Source: Chicago Sun-Times

Mike Tyson was one of the richest athletes on the whole planet during the peak of his career. He rose to prominence at a juvenile age, winning his first 19 professional fights via knockout. Interestingly, he beat the likes of James Smith and Tony Tucker, which helped him become the talk of the town. Thus, he started getting big contracts and bonuses for the fights he competed in. 

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In the early 1990s, Mike Tyson's net worth reached a huge milestone of $300 million. However, that colossal amount of bank balance wasn't there to stay as he started losing much of his income after a few years. In 1992, he was convicted of rape charges, which sent him to prison until 1995. 

Mike Tyson was one of the richest athletes ever in the past.
Photo Source: Baldofthehook

You would be quite surprised to know how Mike Tyson's bank balance has decreased by ten times at the moment. He currently gathers a net worth of $3 million, huge for anyone else, but a lot less in his standards considering his income in the past. As per estimates of Forbes, his net worth could have reached around $685 million, if not for some rash decisions.

How Did Mike Tyson Get Bankrupt?

While Mike Tyson might have had a lot of success in the boxing ring, his decisions outside weren't quite rational. The whole world was in shock when he declared bankruptcy in 2003. Even though he earned over $30 million from fights and around $300 million from his whole career, his personal life saw many controversies, which led him to that point.

Mike Tyson declared himself bankrupt in 2003.
Photo Source: Wikipedia

Mike Tyson is a two-time divorcee to wives, Robin Givens, and Monica Turner. The divorce agreements did see him segregate a substantial amount of his income to his former partners as spousal and child support. Apart from that, he made some rash investing decisions like spending his money on luxurious cars and expensive houses. Surprisingly, he even believed in showboating as he spent to pet tigers. In 2003, the media reported that he had debt worth $23 million.

Also See: The Complete Story of Mike Tyson's Weight Loss

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