Mike Tyson’s net worth is a numeric value, a price tag on his success. But it doesn’t reflect the tumultuous road he took to get there. He faced hills and valleys of victory and failure both in the ring and out of it, making him a complicated figure in the boxing world.
Mike Tyson won his first professional fight with a knockout in the first round, a punch that foreshadowed his tremendous success in the boxing world. But it hasn’t all been sunshine and rainbows. Not even close.
Known for his iconic face tattoo and ear-biting ring antics against Evander Holyfield, Mike Tyson has been a controversial figure in his personal life. His boxing skills, however, are beyond debate. When you think of the greatest boxer of all time, you think of Mike Tyson.
If you want to learn more about Mike Tyson’s career and net worth, read on!
Humble Beginnings
Michael Tyson was born in Brooklyn in 1966. When his father left suddenly when he was only two years old, Tyson’s mom was left alone to raise him and his two siblings.
Young Mike Tyson was weedy and quiet, the victim of bullies and gang violence. It was this victimization that led him to learn how to fight back. His first fights were street fights as he defended himself in his high-crime, gang-filled neighborhood.
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From the age of 10, he was a member of his gang, helping older gang members rob convenience stores at gunpoint. His troubles with the law were unceasing; he was arrested more than 25 times before he turned 13. He was ultimately shipped to the Tryon School for Boys, a reform school where he met his first boxing coach.
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His first coach, Bob Stewart, made a deal with Tyson that he’d train him in return for good behavior. Their agreement worked, and Tyson’s grades improved. The young boxer was so motivated that he’d stay up past his bedtime to practice his form alone in the dark.
Training Regiment
When it comes to athletes, many people claim their success is the result of superior genetics. While genetics can improve athletic performance, hard work and discipline make the difference between a mid-level athlete and a high performer.
Mike Tyson ‘s work ethic was one of the driving forces of his success. His routine changed frequently, but it was pretty consistent in his prime.
He began his day at 4 AM with a five-mile jog, followed by 10 to 12 rounds of sparring. Then he did his conditioning, a routine of pushups, dips, situps, and neck exercises.
After a lunch break, he was back with six rounds of sparring, bag and pad work, and head movement drills. He would jump rope before doing some calisthenics and shadowboxing. Then, he did even more calisthenics before dinner.
After dinner, he took an easy spin on the exercise bike and studied fights before bed. This grueling training schedule wore on him, but his coaches carefully designed it to optimize his performance.
Dominant From the Start
Soon, after hitting the ceiling with Stewart, he changed coaches, and his success exploded. His first fight was a knockout, the first of many in a long career.
His strength, high ring IQ, and fast hands led to 22 straight victories, 21 of which were knockouts. Along with his 22nd knockout, he won the WBC heavyweight world championship, becoming the youngest champion in history.
“Iron Mike,” as he was now known, continued knocking out his opponents. His final record was 50 wins (44 KOs) and just six losses, including two no-contests.
Mike Tyson’s Net Worth
Substantial career earnings accompanied his success in the ring. His very first contract was $27 million for eight fights. For his second contract, Tyson earned over $120 million.
During his career, he earned over $430 million from fight purses and endorsements. He was known as the hardest hitter in heavyweight history, and this reputation came with a lot of money.
He also made money through a few side hustles, including cameos in films like The Hangover and starting business ventures selling cannabis. Mike Tyson’s estimated net worth was about $300 million at his peak.
A Life of Luxury
Mike loved having money from boxing and spent it almost as quickly as he made it. He spent more than $100,000 on jewelry every month and had over 100 cars.
He had a staff member whose job was to wear an army uniform and yell the words “guerilla warfare” at Mike’s press conferences. The annual salary for that unique job was $300,000.
He’s also known for his tiger collection. He housed three Bengal tigers in a custom enclosure with a private animal trainer.
His first mansion in Connecticut had 21 rooms, including a full nightclub and casino. It was later bought by 50 Cent. He had mansions in Las Vegas, Maryland, and Ohio. With gold-plated furniture, private pools, and even a basketball court, his homes were the definition of luxury.
Big Losses To Mike Tyson’s Net Worth
In 2003, he filed for bankruptcy due to his excessive spending. He was more than $23 million in debt after facing a few losses and another stint in prison.
Tyson earned his way back to success bit by bit. He paid the debts with every boxing purse he won and finally returned to the green.
But the consequences of his actions still reverberate today. Despite his punches’ power and dominant winning streaks, Mike Tyson’s net worth in 2024 is just $10 million.
Where Is Mike Tyson Today?
Today, Tyson lives in his Las Vegas home, earning a living by personally appearing at events. Tyson still runs a podcast, “Hotboxin’ With Mike Tyson.” He will return to the boxing ring for Jake Paul vs. Mike Tyson professional boxing match. The bout is scheduled for July 20, 2024, at the AT&T Stadium in Arlington, Texas.
