Mike Tyson, a living legend of boxing, captured the attention of huge audiences and acquired a global following during his career. His ring bouts were so famous that some fights still rank among the highest-grossing PPV boxing matches in history. Although an undisputed heavyweight champion during his reign, Tyson suffered from financial struggles and even declared bankruptcy at one point. However, the upcoming Jake Paul vs. Mike Tyson fight is poised to break records and earn fortunes for both boxers. How much money does “Iron Mike” earn, and how much is Mike Tyson’s net worth?
Jake Paul vs. Mike Tyson
The internet and media were abuzz with the announced Jake Paul vs. Mike Tyson match on July 20, which promises to break records and potentially become the biggest fight in the history of boxing. However, it was postponed to November 15 due to Mike Tyson’s ulcer-related health issues.
This match would be Tyson’s first exhibition match after the 2020 duel between him and Roy Jones Jr., which ended in a split draw. Hosted at the largest NFL stadium by the number of seats — the AT&T Stadium in Arlington, Texas — and covered live by Netflix, the largest streaming platform in the world, the event has the necessary momentum to achieve monumental commercial success.
Netflix and Jake Paul’s own organization, Most Valuable Promotions, are co-organizing the fight, which is expected to bring millions of dollars to both parties. Both fighters are recognizable faces of the sport with dedicated fan bases, and Jake Paul’s social media influencer career is likely to add many younger faces to the audience tally, some of whom probably haven’t watched a boxing match in their lives.
Regardless of thoughts and opinions about the match and the lineup, Tyson’s flawless legacy and Paul’s recent popularity set the meeting up to become a huge commercial success. Although Mike Tyson received stunning amounts as compensation for his fights, business endeavors, film appearances, books, and promotions, he has led an extravagant lifestyle and given away or lost most of his money. However, this match will likely add millions to Mike Tyson’s net worth.
How much is Mike Tyson’s net worth?
For a man of his stature, Mike Tyson’s net worth is far humbler than you would have thought, and there are a couple of reasons for that.
Throughout his boxing career, Tyson earned hundreds of millions of dollars. In fact, his fight against Lennox Lewis in 2002 amassed $112 million in pay-per-view (PPV) and is currently the fifth-highest-grossing boxing match ever in PPV revenue. Reportedly, in his prime, Mike Tyson’s net worth amounted to $300 million, with The Sun estimating nearly $700 million in total fight earnings.
Despite his staggering fortunes, Tyson had been living a lavish life, spending substantial money on luxury pets, sports cars, and extravagant gifts to friends and acquaintances. His money issues culminated in 2003 when he declared bankruptcy, at which point he was in debt for $23 million.
As late as 2010, Mike Tyson experienced dire financial conditions:
“I’m totally destitute and broke. But I have an awesome life. I have an awesome wife who cares about me. I’m totally broke. I had a lot of fun. It [going broke] just happened. I’m very grateful. I don’t deserve to have the wife that I have; I don’t deserve the kids that I have, but I do, and I’m very grateful.”
– Mike Tyson
Considering this, Mike Tyson’s net worth of $10 million isn’t a light feat. He turned his money around and made some sound financial decisions, gathering appearance fees, playing cameo roles, and even investing in the marijuana industry.
How did Mike Tyson become famous?
Today, a retired boxer with a blazing legacy, Mike Tyson was the world’s undisputed heavyweight champion from 1987 to 1990. Nicknamed “the Baddest Man on the Planet,” Tyson had an 88% ratio of knockout victories. He is still one of the most easily recognizable icons of the sport, leaving a permanent mark on the industry as one of the greatest boxing champions ever.
Why did Mike Tyson start boxing?
As an amateur boxer, Tyson won gold medals at the Junior Olympic Games in 1981 and 1982, aged 15 and 16, respectively. He was trained by Cus D’Amato, who would become his legal guardian and father figure after his mother died.
He fought his first professional fight at 18 against Hector Mercedes, winning by technical knockout in the first round. This would initiate a trend that would become Tyson’s trademark. He won 26 of his first 28 fights by stoppage, exhibiting his overwhelming power. He was the youngest champion in history at the age of 20.
Mike Tyson’s boxing career
Recommended video: The Story of Mike Tyson | Life Documentary and Career Highlights
Tyson embarked on an extraordinary journey, carving out an undefeated streak of 37 victories. With a relentless schedule of 15 fights per year, Tyson displayed unmatched prowess in the ring. His defining moment came when he faced Trevor Berbick, clinching a historic championship record.
Tyson’s ascent continued as he unified titles in a fierce encounter with James “Bonecrusher” Smith, claiming the WBA strap. This triumph was followed by a hard-fought battle against Tony Tucker, where Tyson emerged victorious by decision, adding the IBF belt to his accolades.
The stage was set for Tyson to face formidable opponents, with the legendary Larry Holmes stepping into the ring. In a bout that echoed through boxing history, Tyson secured victory with a knockout, cementing his status as one of the sport’s greatest.
After several more wins, his streak ended in a great boxing upset by James “Buster” Douglas. Tyson would recover his momentum and fight Donovan “Razor” Ruddock, aiming for the heavyweight title but pulling out at the last moment due to a rib cartilage injury. However, in 1991 Tyson would be arrested for raping Desiree Washington and incarcerated in 1992. He was released in March 1995.
Mike Tyson became a two-time heavyweight champion in 1996 after beating Frank Bruno. Afterward, he had infamous fights with Evander Holyfield, during which he was disqualified for biting his opponent’s ear. His final professional mega-fight came when he took on Lennox Lewis, which he lost. In his next three matches, he lost two times and finally retired from professional boxing after he lost to Kevin McBride in 2005.
On July 20, he will wear the boxing gloves again in the Jake Paul vs. Mike Tyson match.
What has Mike Tyson spent his money on?
Mike Tyson’s net worth could have been much higher had he lived a conventional, more modest lifestyle. However, the boxing legend spent millions on villas, sports cars, pets like Bengal tigers, and exuberant gifts to strangers.
Recommended video: Mike Tyson playing with his Tiger
Within three years of his release in 1995, he reportedly spent the following:
- $4.5 million on luxury vehicles (many bought for friends);
- $400,000 on pets like pigeons and big cats;
- $300,000 on garden and backyard maintenance;
- $240,000 per month for casual daily spending;
- $230,000 on phones, pagers, and phone bills;
- $100,000 per month on jewelry and clothes.
Furthermore, he lived in a 21-room mansion with a nightclub and casino, which is owned by 50 Cent today. He also bought various houses in Maryland, Ohio, and Las Vegas and furnished them with gold decorations, pools, and basketball courts.
Tyson owned more than 100 cars throughout his life, including a $500,000 limited-series Bentley. He would lend cars to people only to forget about them later. He crashed his car once and told people in the repair shop they could keep it. Tyson also spent $1.5 million in one day at a Las Vegas car dealership, outbuying its stock and having the dealership order three more Bentley Azures fast-track from Rolls-Royce.
It is widely accepted that Don King, his promoter, took a large portion of these PPV earnings. Although illegal in Nevada, King was entitled to almost a third of Tyson’s earnings. Among other mysterious fees, $100,000 per fight went to King’s wife for consulting fees, $50,000 per fight to each King’s son for the same reason, and $1,000 per week went to the President of the Mike Tyson Fan Club, which turned out to be King’s daughter. Mike Tyson sued Don King, with parties settling out of court for $12 million in favor of the famous boxer.
Mike Tyson’s net worth – the bottom line
“Iron Mike” earned mind-boggling amounts from his matches. His three highest-grossing matches alone would have been enough to last him a lifetime of luxury:
| Opponent | Match date | Purse |
| Lennox Lewis | June 8, 2002 | $103 million |
| Bruce Seldon | September 7, 1996 | $35 million |
| Frank Bruno | March 16, 1996 | $35 million |
He totaled $423 million from all fights. Adjusted for inflation, the number approaches about $700 million in total. However, owing to his opulent habits, a decadent lifestyle in the past, and questionable choice of promoters, most of that went to waste.
If spent more carefully and productively, Mike Tyson’s net worth could have been much higher. Today, the boxer is worth $10 million. However, that number can increase a couple of times after the upcoming match. How much is Mike Tyson getting paid to fight Jake Paul? The answer is likely to be about $20 million.
That said, we can only be sure once the fight is over. In any case, we’ll cheer for a bigger check for the “Iron Mike.”
FAQs about Mike Tyson net worth
What is Mike Tyson's current net worth?
Mike Tyson’s current net worth is estimated at $10 million.
How much is Mike Tyson getting for fighting Jake Paul?
While there’s no official information on the prize money or monetary compensation, several media have reported that Mike Tyson could earn as much as $20 million from the duel, which is twice his current net worth.
How much did Mike Tyson earn from his fights?
Mike Tyson totaled $423 million from all fights. Adjusted for inflation, the number approaches about $700 million in total. Unfortunately, most of that was spent due to Mike Tyson’s opulent lifestyle.
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