Mike Tyson was once worth around $400million thanks to his glittering boxing career, but the hard-hitting heavyweight was forced to file for bankruptcy in 2003 after incredibly frivolous spending
Mike Tyson, once known for his incredible $400million (£307m) fortune from an outstanding boxing career, saw it all dwindle to bankruptcy shortly before retiring.
He was a lethal force in the ring as a hard-hitting double WBC and WBA champion – also bagging the IBF title – compiling a mammoth record of 50 wins, six losses, and two no contests across his illustrious career. With 44 knockouts under his belt, he was adored globally by fans who eagerly awaited each fierce battle in the ring.
Tyson’s combination of sharp boxing skills and a charismatic presence earned him fortunes that most boxers only ever envision. His peak financial win was his heavily publicized 2002 fight against Lennox Lewis, which promised the WBC, IBF, and IBO heavyweight championships.
But it wasn’t just about the bout; controversy clouded the build-up with Tyson and Lewis brawling outrageously at a pre-fight press conference. The chaos that ensued led to Tyson even lashing out at a heckler in the crowd who shouted: “Get him in a straight jacket.”
Tyson was restrained from engaging in his second unofficial scuffle within minutes and was overheard warning the heckler that he wouldn’t survive two minutes in his world, while also claiming the heckler wasn’t “man enough” to confront him directly. Despite his efforts, Tyson was defeated by Lewis on June 8, 2002, via an eighth-round knockout – as a larger Lewis took him down with a powerful right hand, reports the Mirror.
Tyson made an abundance of money through his boxing career (Image: Allsport)
Although Tyson didn’t win that night, it’s reported that he pocketed a massive $103m (£79.3m) for the bout – his largest ever earnings from a single fight. Other notable earnings include approximately $35m (£26.9m) each from his 1996 victories over Frank Bruno and Bruce Seldon, and around $30m (£23m) from his 2005 match against Kevin McBride.
Yet, Tyson’s extravagant spending began to get out of hand towards the end of the 90s. After being banned by the Nevada State Athletic Commission for biting off part of Evander Holyfield’s ear in their 1997 rematch, Tyson reportedly splurged $4.5m (£3m) on cars, $100,000 (£76K) monthly on clothes, and exorbitant sums on exotic pets – including his three Bengal tigers named Kenya, Storm, and Boris.
Yes, that’s indeed correct. Tyson owned three tigers.
But he spent it recklessly (Image: Getty Images)
“I don’t even fathom that, I don’t even think I’m that kind of guy. I don’t even consider having money like that any more. That’s just my ex life – how I lived my life. That’s my addictive personality. That’s a lot of things. That’s me ego, so many other things.
“That stems from pretty much from me being poor and never having anything. From me being bitter, angry, from me being in prison. It’s stemmed from a lot of things.” When probed about what he’s gleaned from his spendthrift ways, Tyson conceded that he now sees $1,000 as a significant sum – attributing his youthful carelessness and indifference to his previous financial woes.
Fortunately, Tyson has turned a corner with his finances. As of 2024, the boxing heavyweight is estimated to have a comfortable net worth of around $10m (£7.7m), bolstered by endorsements, business ventures, partnerships, and the success of his Hotboxin’ podcast. His forthcoming fight with Jake Paul is also set to boost his wealth, with Tyson expected to pocket at least $20m (£15.5m) from the Netflix special.
