Mike Tyson Net Worth
Mike Tyson has an estimated net worth of $10 million. Mike Tyson is a former heavyweight boxing champion who’s served jail time and known for biting Evander Holyfield’s ear during a 1997 fight. He earns most of his income from his career as a professional boxer, actor, and film producer.
Mike Tyson, then 20, became the world’s youngest heavyweight boxing champion in 1986. He lost the title in 1990 and was imprisoned for three years on rape charges. He rose to prominence after biting Evander Holyfield’s ear during a rematch in 1997. Tyson went on to star in several films and a Broadway show based on his life, become a best-selling author, and start a successful cannabis business.
To calculate the net worth of Mike Tyson, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.
Here’s the breakdown of his net worth:
|Net Worth:||$10 Million|
|Monthly Salary:||$70 Thousand|
|Annual Income:||$1 Million|
|Source of Wealth:||Professional Boxer, Actor, Film Producer, Athlete|
Michael Gerard Tyson was born in Brooklyn, New York, on June 30, 1966, to Jimmy Kirkpatrick and Lorna Tyson. Michael’s father abandoned the family when he was two years old, leaving Lorna to care for Michael and his two siblings, Rodney and Denise.
Due to financial difficulties, the Tyson family relocated to Brownsville, Brooklyn, a high-crime area. Tyson, who was small and shy, was frequently the target of bullying. To counteract this, he began developing his own style of street fighting, which eventually led to criminal activity. The Jolly Stompers, his gang, assigned him to clean out cash registers while older members held victims at gunpoint. At the time, he was only 11 years old.
He was frequently arrested by police for his minor criminal activities, and by the age of 13, he had been arrested more than 30 times. Tyson’s bad behavior landed him in the Tryon School for Boys, an upstate New York reform school.
Tyson met counselor Bob Stewart, an amateur boxing champion, at Tryon. Tyson requested that Stewart teach him how to use his fists. Stewart agreed reluctantly on the condition that Tyson stay out of trouble and work harder in school. Tyson, who was previously labeled as learning disabled, improved his reading skills to the seventh grade level in a matter of months. He also became determined to learn everything he could about boxing, frequently sneaking out of bed late at night to practice punches.
Meeting Manager Cus D’Amato
Stewart believed he had taught Tyson everything he knew in 1980. He introduced him to legendary boxing manager Constantine “Cus” D’Amato, who owned a gym in Catskill, New York. D’Amato was known for taking a personal interest in promising fighters, even offering them lodging in the home he shared with companion Camille Ewald. He had managed the careers of several successful boxers, including Patterson and Jose Torres, and he recognized Tyson’s potential as a contender right away, telling him, “If you want to stay here and listen, you could be the world heavyweight champion someday.”
D’Amato and Tyson’s relationship was more than that of a professional trainer and a boxer; it was also that of a father and son. Tyson was taken under D’Amato’s wing, and when the 14-year-old was released from Tryon in September 1980, he became D’Amato’s full-time prisoner. D’Amato put the young fighter through a rigorous training regimen, sending him to Catskill High School during the day and training in the ring every evening. D’Amato also entered Tyson in amateur boxing matches and “smokers,” or unofficial fights, to teach the teen how to deal with older opponents.
Tyson’s life appeared to be improving, but he suffered several personal losses in 1982. Tyson’s mother died of cancer that year. “I never saw my mother proud of me for doing something,” he later told reporters. “She only knew me as a wild kid who ran the streets and came home with new clothes she knew I didn’t pay for. I never met her or learned anything about her. It has no professional impact, but it is emotionally and personally devastating.” Tyson was expelled from Catskill High School around the same time for his erratic, often violent behavior. Tyson continued his education with private tutors while preparing for the 1984 Olympic trials.
Tyson’s performance in the trials did not bode well for his future, as he was defeated by Tillman, the eventual gold medalist. After his fighter did not make the Olympic team, D’Amato decided it was time for him to turn professional. The trainer devised a strategy that would result in Tyson losing the heavyweight championship before his 21st birthday.
Tyson made his professional debut on March 6, 1985, against Hector Mercedes in Albany, New York. Mercedes was knocked out in the first round by the 18-year-old. Tyson’s strength, quick fists, and impressive defensive abilities intimidated his opponents, who were often afraid to hit him. This gave Tyson the uncanny ability to knock out his opponents in one round, earning him the moniker “Iron Mike.”
Tyson had a successful year, but it was not without its tragedies: Cus D’Amato, his trainer and surrogate father, died of pneumonia on November 4, 1985. Kevin Rooney took over for D’Amato, and Tyson continued his ascent up the heavyweight rankings less than two weeks later.
In Houston, Texas, he recorded his thirteenth knockout and dedicated the fight to the man who had molded him into a professional. Those close to Tyson say he never fully recovered from D’Amato’s death, and that the boxer’s future behavior was influenced by the loss of the man who had previously grounded and supported him.
By 1986, Tyson had amassed a 22-0 record, with 21 of his victories coming via knockout. Tyson finally achieved his goal on November 22, 1986, when he was given his first title fight against Trevor Berbick for the World Boxing Council heavyweight championship. Tyson won the title with a second-round knockout. He broke Floyd Patterson’s record to become the youngest heavyweight champion in history at the age of 20 years and four months.
Tyson’s ring success didn’t end there. On March 7, 1987, he defended his title against James Smith, adding the World Boxing Association championship to his list of victories. When he won the International Boxing Federation title from Tony Tucker on August 1, he became the first heavyweight to hold all three major boxing belts.
On February 25, 1989, Tyson stepped back into the ring with British boxer Frank Bruno in an attempt to retain his world heavyweight title. Tyson then knocked Bruno out in the fifth round. Tyson defended his title once more on July 21, 1989, knocking out Carl “The Truth” Williams in one round.
Loss to Buster Douglas
Tyson’s winning streak ended on February 11, 1990, when he was defeated by boxer Buster Douglas in Tokyo, Japan. Tyson, the overwhelming favorite, knocked Douglas out in the eighth round, but Douglas rallied in the tenth, knocking Tyson out for the first time in his career.
Tyson recovered from his defeat by knocking out Olympic gold medalist — and former amateur boxing rival — Henry Tillman later that year. In another fight, he knocked out Alex Stewart in the first round.
Imprisonment and Return to Boxing
Tyson was accused of raping Desiree Washington, a Miss Black America contestant, in July 1991. Tyson was found guilty on one count of rape and two counts of deviant sexual conduct on March 26, 1992, after nearly a year of trial proceedings. Tyson was sentenced to six years in prison, effective immediately, under Indiana state law.
Tyson handled his time in prison poorly at first; he was found guilty of threatening a guard, which added 15 days to his sentence. Tyson’s father died the same year. The boxer did not ask for time off to attend the funeral. Tyson converted to Islam and took the name Malik Abdul Aziz while imprisoned.
Tyson was released from the Indiana Youth Center near Plainfield, Indiana, on March 25, 1995, after serving three years of his sentence. Tyson was already planning his comeback when he scheduled his next fight with Peter McNeeley in Las Vegas, Nevada. Tyson won the fight on August 19, 1995, knocking out McNeeley in 89 seconds. Tyson won his next fight in December 1995, defeating Buster Mathis Jr. in the third round.
Tyson faced his next major challenger, Evander Holyfield, after several successful fights. Before Douglas defeated Tyson in 1990, Holyfield was promised a title shot against Tyson. Instead of facing Tyson, Holyfield faced Douglas for the heavyweight championship. Douglas was knocked out on October 25, 1990, establishing Holyfield as the world’s new undefeated and undisputed heavyweight champion.
Tyson faced Holyfield for the heavyweight title on November 9, 1996. Tyson’s night would not end well, as he was knocked out in the 11th round by Holyfield. Instead of Tyson, Holyfield made history by becoming the second person in history to win a heavyweight championship belt three times. Tyson claimed he was the victim of multiple illegal headbutts by Holyfield and vowed to exact vengeance.
Tyson worked hard to prepare for a rematch with Holyfield, and the two boxers squared off again on June 28, 1997. The fight was televised on pay-per-view and reached nearly 2 million households, breaking the record for the most paid television viewers at the time. Both boxers were paid record sums for the fight, making them the highest-paid professional boxers in history until 2007.
The first and second rounds delivered the expected crowd-pleasing action from the two champions. However, the fight took an unexpected turn in the third round. Tyson stunned fans and boxing officials when he grabbed Holyfield’s ears and bit both of them, severing a piece of Holyfield’s right ear. Tyson claimed that the action was in retaliation for Holyfield’s previous illegal head butts. However, the judges did not agree with Tyson’s reasoning and disqualified him from the match.
On July 9, 1997, the Nevada State Athletic Commission unanimously revoked Tyson’s boxing license and fined him $3 million for biting Holyfield. Tyson was aimless and unmoored after he was no longer able to fight. Tyson was dealt another blow a few months later when he was ordered to pay boxer Mitch Green $45,000 for a 1988 street fight. Tyson was hospitalized shortly after the court ruling with a broken rib and a punctured lung after his motorcycle skidded out of control while riding through Connecticut.
Lewis Fight and Retirement
His next high-profile fight would be against WBC, IBF, and IBO champion Lennox Lewis in 2002. Tyson was fighting for the heavyweight title again, and this time it was a very personal one. Before the fight, Tyson made several derogatory remarks to Lewis, including threatening to “eat his children.” The two boxers began a brawl at a press conference in January, threatening to cancel the fight, but the fight was eventually scheduled for June of that year. Tyson was knocked out in the fight, signaling the end of the former champion’s career.
Tyson announced his retirement after losing to Danny Williams in July 2004 and Kevin McBride in June 2005. In June 2011, he was inducted into the International Boxing Hall of Fame.
Tyson fought in 58 fights during his professional career. He won fifty of them, 44 of them by knockout. Among the fights he did not win, he officially lost six, while two were no contests.
Marriage to Robin Givens, Arrests
Tyson’s rise from juvenile delinquent to boxing champion drew the media’s attention. Tyson began partying hard and hanging out with various Hollywood stars after achieving sudden fame. Tyson set his sights on actress Robin Givens in the 1980s. He and Givens began dating and married in New York on February 7, 1988.
However, Tyson’s game appeared to be deteriorating, and after several close calls in the ring, it was clear that the boxer’s edge was slipping. Tyson, who was once known for his complex offensive and defensive moves, seemed to rely on his one-punch knockout move to finish his fights. Rooney, the boxer’s long-time trainer, was fired in mid-1988 after he blamed him for his ring struggles.
Tyson’s marriage to Givens was falling apart as his game did. In June 1988, allegations of spousal abuse surfaced in the media, and Givens and her mother demanded access to Tyson’s money for a down payment on a $3 million home in New Jersey. That same year, police were called to Tyson’s house after he began throwing furniture out the window, forcing Givens and her mother to flee.
Tyson was also in court with manager Bill Cayton that summer, attempting to break their contract. Cayton had settled out of court by July 1988, agreeing to reduce his share of Tyson’s purses from one-third to 20%. Tyson soon formed a partnership with boxing promoter Don King. The move appeared to be a positive step for the boxer, but his life was spiraling out of control both in and out of the ring.
Tyson’s behavior became increasingly violent and erratic during this period. After a 4 a.m. street brawl with Green in August 1988, he broke a bone in his right hand. Tyson was knocked unconscious the following month after crashing his BMW into a tree at D’Amato’s house. According to tabloid reports, the accident was caused by an overdose of drugs. For speeding, he was fined $200 and sentenced to community service.
Later that September, Givens and Tyson appeared on Barbara Walters‘ show, where Givens described her marriage as “pure hell.” She announced shortly afterwards that she was divorcing. Tyson countersued for divorce and annulment, launching an ugly months-long legal battle.
This was only the beginning of Tyson’s difficulties with women. Tyson was sued in late 1988 for inappropriate behavior toward two nightclub patrons, Sandra Miller and Lori Davis. The women accused Tyson of grabbing, proposing, and insulting them while they were out dancing.
Tyson and Givens officially divorced on February 14, 1989.
Don King Lawsuit
Tyson was back in court, this time as a plaintiff, in 1998. On March 5, 1998, the boxer filed a $100 million lawsuit against King in U.S. District Court in New York, accusing the promoter of defrauding him of millions of dollars. He also sued his former managers, Rory Holloway and John Horne, claiming they made King the boxer’s exclusive promoter without his knowledge. King and Tyson reached an out-of-court settlement for $14 million. Tyson allegedly lost millions as a result of the situation.
Tyson struggled to regain his boxing license after several more lawsuits, including another sexual harassment trial and a $22 million wrongful termination suit filed by Rooney. The boxer reapplied for his boxing license in New Jersey in July 1998, but withdrew his application before the board could meet to hear his case. A few weeks later, Tyson assaulted two motorists after his Mercedes was dented in a car accident in Maryland.
Tyson’s boxing license was reinstated in October 1998. Tyson had only been back in the ring for a few months before pleading no contest for his attack on the Maryland motorists. Tyson was sentenced to two concurrent two-year terms for the assault, but he received only one year in prison, a $5,000 fine, and 200 hours of community service. He was released after serving nine months and immediately returned to the ring.
More accusations of physical assault, sexual harassment, and public incidents followed over the next few years. Tyson had used marijuana, according to a random drug test in 2000. The results forced boxing officials to declare Tyson’s October 20 victory over Andrew Golota a loss.
Later Marriages, Bankruptcy
Monica Turner filed for divorce in 2003, after six years of marriage, citing adultery. That same year, he declared bankruptcy as a result of his exorbitant spending, multiple trials, and bad investments. Tyson returned to the ring for a series of exhibition fights in an attempt to pay off his debts.
To save money, the boxer also sold his upscale Farmington, Connecticut, mansion to rapper 50 Cent for slightly more than $4 million. He slept on the couches of friends and in shelters until he arrived in Phoenix, Arizona. In 2005, he paid $2.1 million for a home in Paradise Valley, which he paid for by endorsing products and making cameo appearances on television and in boxing matches.
Tyson’s hard-partying ways finally caught up with him in late 2006. Tyson was arrested after nearly colliding with a police SUV in Scottsdale, Arizona. Police pulled Tyson over and searched his car after suspecting him of driving while intoxicated. The police discovered cocaine and drug paraphernalia throughout the vehicle during the search. Tyson pleaded guilty to narcotics possession and driving under the influence on September 24, 2007. He received a 24-hour jail sentence, 360 hours of community service, and three years of probation.
Tyson is the father of seven known children — Gena, Rayna, Amir, D’Amato Kilrain, Mikey Lorna, Miguel Leon, and Exodus — with a variety of women, some of whom remain unnamed in the media.
Death of Daughter Exodus
Over the next few years, Tyson’s life seemed to calm down, and he began seeking sobriety by attending Alcoholics Anonymous and Narcotics Anonymous meetings. Tyson was dealt another blow in 2009 when his four-year-old daughter, Exodus, strangled herself on a treadmill cord in her mother’s Phoenix home. Tyson’s troubled life was further complicated by the tragedy.
Tyson married for the third time in 2009, this time to Lakiha “Kiki” Spicer. The couple has two children: Milan, a daughter, and Morocco, a son.
Screen Appearances, Books, Substance Abuse
Tyson made a cameo appearance in the hit comedy The Hangover, alongside Bradley Cooper and Ed Helms, in 2009. The positive response to his appearance appeared to open the door to more acting opportunities, including appearances on television shows such as Entourage, How I Met Your Mother, and Law & Order: Special Victims Unit. Tyson made his Broadway debut in 2012 with Spike Lee’s one-man show Mike Tyson: The Undisputed Truth.
Tyson, on the other hand, admitted to having substance abuse issues again the following year. In an interview with Today host Matt Lauer in August 2013, he revealed that “When I start drinking again, I consider suicide. When I’m in a particularly bad mood, I consider suicide. And I don’t want to be there any longer. I won’t be able to survive unless I get help.” Tyson was reinventing himself as a boxing promoter at the time of this revelation. He also told Lauer that he had only been sober for 12 days when the interview took place.
Tyson’s autobiography, Undisputed Truth, was a New York Times best-seller in 2013. In 2017, a second book, Iron Ambition, was released, which looked back on his training days with D’Amato.
Mike Tyson Mysteries, a comical crime-fighting spoof, premiered on Cartoon Network’s Adult Swim in October 2014. Tyson, who is always eager to promote his brand, also launched a YouTube channel in 2017 that parodies comedy sketches and music videos. He launched his Hotboxin’ with Mike Tyson podcast in January 2019.
Tyson Holistic Holdings was established in 2016 as a successful entry into the burgeoning cannabis industry. The company includes the 407-acre Tyson Ranch in California, which the ex-champ reportedly plans to turn into a bustling marijuana resort.
Tyson revealed in April 2020 that he had resumed his boxing training with the intention of competing in charity matches.
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