What is Mike Tyson’s net worth?
MIKE Tyson is one of the most formidable boxers of all time, amassing an incredible fortune during his career — before losing it all.
Iron Mike’s making a comeback at the age of 58 — he is set to face off against Youtuber-turned-boxer Jake Paul in the summer of 2024.
Mike Tyson is coming out of retirement to fight Jake Paul on July 20, 2024Getty Images – Getty
What is Mike Tyson’s net worth?
Throughout his boxing career Mike Tyson is estimated to have accrued over $300million (£234million), but ended up losing it all.
Speaking about how this happened, he said: “When you’re making that much money, it lasts you a long time.
“The money didn’t run out right away, it took like 15 or 16 years for me to go broke.
“I was doing a lot of foolish things like, ‘Hey baby, do you like that car? Okay, come and spend the weekend with me,’ pure crazy stuff you can do with your money.”
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He added: “I spent my last money I had for rehab, about a million dollars.
“I had enough money left, about $2million, and I bought a house in Phoenix.
“The house was a hard sell, but someone loved it and boom, I got the money. This is God at work.”
Forbes claims his total career earnings could even have been as high as $685million (£535million).
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In spite of losing everything, Tyson has made an impressive financial comeback — as of 2024 his net worth is estimated to be around $10million, according to Wealthy Gorilla.
How did Mike Tyson lose his fortune?
Like many sporting superstars, Tyson spent his money as quickly as he earned it on big expensive houses, flashy cars and even pet tigers.
The 58-year-old has been divorced twice, is now on his third marriage and has a total of eight children — whom he doesn’t plan on leaving his fortune to.
He said: “Pray more and work harder. Be the hardest worker and believe yourself.
“I can’t help them by giving them [my kids] money. I can only hurt them if I give them money.
“They have to learn because if they have no aspirations and experience no adversity, at the slightest fight they will give in.”
Tyson also served three years in prison after being convicted of rape in 1992.
In 2003, Tyson was forced to file for bankruptcy, with the media at the time reporting he had $23million (£17.9million) worth of debt.
How did he recover his finances and how does he make money now?
Tyson has starred in a number of movies, most notably in The Hangover film franchise, and even had his own animated TV show called Mike Tyson Mysteries.
He produced a podcast called Hotboxin’ With Mike Tyson between 2019 and 2023, which was one of the most popular combat sports-related podcasts on the web.
As hinted in that title, Tyson has cannabis to thank for his financial recovery.
He runs his own weed ranch called the Tyson Ranch, where he grows and sells his own brand of weed as well as weed-based wellness products.
Cheat Sheet says the Tyson Ranch sells over $500,000 worth of weed a month, but that Tyson smokes $40,000 worth with his guests.
