Mike Tyson, one of the most legendary boxers of all time, has lived a life as vibrant and controversial as his career in the ring, such as when he became the youngest heavyweight world champion at the age of 20.
From his early days as a world champion to his financial ups and downs, his fortune has been as unpredictable as his fighting style, with reports indicating he earned up to $300 million at the height of his career.
At his peak, he amassed hundreds of millions of dollars thanks to his dominance in the ring, but a combination of extravagant spending and personal bankruptcy led him to lose much of his wealth. Check out his current net worth…
What is Mike Tyson’s net worth?
Mike Tyson is not only widely recognized for his talent in the ring, his victories and his extravagant lifestyle, but also for his financial management. As of November 2024, the former boxer has a net worth of $10 million.
Mike Tyson attends the Mike Tyson Cares & We 2 Matter Fundraiser on December 05, 2021. (Source: Phillip Faraone/Getty Images)
This figure represents a remarkable recovery, considering the financial troubles he faced in the past, such as his bankruptcy in 2003 when he had debts totaling $23 million, according to Celebrity Net Worth.
His achievements as a boxer allowed him to earn more than $300 million during his glory years and for many years afterward, but his subsequent ventures have been key to stabilizing his finances and maintaining a balanced economy.
Throughout his career, he secured 50 victories, 44 of them by knockout, solidifying his place as one of the greatest figures in boxing history. This contributed significantly to his fortune, as Marca and Sportskeeda reported.
He became the youngest heavyweight world champion at the age of 20, dominating the ring with an aggressive and unstoppable style that made him famous, earning the nickname “Iron Mike”.
Mike Tyson attends the Los Angeles Premiere of Netflix’s “Starting 5″at The Egyptian Theatre Hollywood on September 23, 2024. (Source: Matt Winkelmeyer/Getty Images)
However, over time, he lost a significant amount of money. His love for luxury cars, mansions and exotic animals became legendary, but these habits, along with poor financial management, were key to his downfall.
Despite this, he has managed to reinvent himself. Today, he remains a prominent figure in the world of sports and entertainment, earning money through his podcast, his cannabis business and other public appearances.
How much is Mike Tyson getting paid for the fight with Jake Paul?
For the highly anticipated fight between Mike Tyson and Jake Paul, both fighters are set to earn substantial sums. Although exact figures have not been fully disclosed, the event is expected to be a major financial success.
Jake hinted during a press conference, saying, “I’m here to make $40 million and knock out a legend“. This suggests $80 million will be allocated for the boxers, with each taking home half as a base payment, according to USA Today.
Mike Tyson and Jake Paul speak onstage at the press conference in promotion for the upcoming Jake Paul vs. Mike Tyson boxing match at The Apollo Theater on May 13, 2024. (Source: Sarah Stier/Getty Images for Netflix)
Previously, he had implied that he would only return to the ring for a substantial offer, so it seems this amount convinced him. However, additional earnings from advertisements and sponsorships are also likely, though exact figures remain unknown.
Mike Tyson’s real estate holdings
Mike Tyson’s real estate trajectory reflects the ups and downs of his financial life, from extravagant properties to more modest residences. At the height of his fame, he acquired a 13,500-square-foot mansion in Southington, Ohio.
This property was impressive, featuring details like crystal chandeliers, tiger enclosures and a huge pool. However, he had to sell this mansion in the 2000s due to legal and financial problems, as Crazy Luxury Homes.
It went through several owners and was eventually transformed by the Living Word Sanctuary church into a space for retreats and community events, preserving iconic details, such as the area where Tyson displayed his championship belts.
Former Boxer Mike Tyson looks on prior to the Cruiserweight Title fight between Jake Paul and Tommy Fury at the Diriyah Arena on February 26, 2023. (Source: Francois Nel/Getty Images)
He also owned a luxurious property in Connecticut, which he sold in 2003 during another financial crisis. Today, he lives in a more modest Italian-style house in Las Vegas, featuring a pool, spa and guest houses.
Mike Tyson’s exorbitant expenses between 1995-2000
Mike Tyson was known for his extravagant spending habits during his boxing career. His luxury purchases included $4.5 million on cars and motorcycles, acquiring 19 vehicles just for friends.
His love for animals led him to spend $400,000 on pigeons and large exotic cats, like Siberian tigers. Maintaining these animals wasn’t cheap—he paid $125,000 per year for a trainer to care for them.
His luxurious lifestyle didn’t stop there. He spent around $300,000 on lawn and garden maintenance and had a “walking-around” budget of $240,000 per month for daily expenses, according to Celebrity Net Worth.
Communication costs were also substantial, with $230,000 spent on phones, pagers and bills. Additionally, he allocated $100,000 per month on jewelry and clothing, adding to his reputation for extravagant spending.
