Mike Tyson’s Net Worth in 2021: Everything to Know
Mike Tyson’s net worth is a numeric value, a price tag on his success. But it doesn’t reflect the tumultuous road he took to get there. He faced hills and valleys of victory and failure both in the ring and out of it, making him a complicated figure in the boxing world.
Mike Tyson won his first professional fight with a knockout in the first round, a punch that foreshadowed his tremendous success in the boxing world. But it hasn’t all been sunshine and rainbows. Not even close.
Known for his iconic face tattoo and ear-biting ring antics against Evander Holyfield, Mike Tyson has been a controversial figure in his personal life. His boxing skills, however, are beyond debate. When you think of the greatest boxer of all time, you think of Mike Tyson.
If you want to learn more about Mike Tyson’s career and his net worth, read on for everything you need to know!
Michael Tyson was born in Brooklyn in 1966. He was only two years old when his father left suddenly. Tyson’s mom was left alone to raise him and his two siblings.
Young Mike Tyson was weedy and quiet, the victim of bullies and gang violence. It was this victimization that led him to learn how to fight back. His first fights were street fights as he defended himself in his high-crime, gang-filled neighborhood.
From the age of 10, he was a member of his own gang, helping older gang members rob convenience stores at gunpoint. His troubles with the law were unceasing; he was arrested more than 25 times before he turned 13. He was ultimately shipped to the Tryon School for Boys, a reform school where he met his first boxing coach.
His first coach, Bob Stewart, made a deal that he’d train Tyson in return for good behavior. Their agreement worked, and Tysons grades improved. So motivated was the young boxer that he’d stay up past his bedtime to practice his form alone in the dark.
When it comes to athletes, many people claim their success is the result of superior genetics. While genetics can improve athletic performance, it’s hard work and discipline that make the difference between a mid-level athlete and a high performer.
With Mike Tyson, his work ethic was one of the driving forces of his success. His routine changed frequently, but in his prime, it was pretty consistent.
He began his day at four AM with a five-mile jog, followed by 10 to 12 rounds of sparring. Then he did his conditioning, a routine of pushups, dips, situps, and neck exercises.
After a lunch break, he was back at it with six rounds of sparring, bag and pad work, and head movement drills. He would jump rope before doing some calisthenics and shadowboxing. Then he did even more calisthenics before dinner.
After dinner, he went for an easy spin on the exercise bike and studied fights before bed. This grueling training schedule wore on him, but it was carefully designed by his coaches to optimize his performance.
Dominant From the Start
Soon he changed coaches after hitting a ceiling with Stewart, and his success exploded. His first fight was a knockout, the first of many in a long career.
His strength, high ring IQ, and fast hands led to 22 straight victories. 21 of them were knockouts. Along with his 22nd knockout, he won the WBC heavyweight world championship, the youngest champion in history.
“Iron Mike,” as he was now known, continued knocking out his opponents, his final record coming in with 50 wins (44 KOs) and just six losses. There were two no contests.
Mike Tyson’s Net Worth
His success in the ring was accompanied by huge career earnings. His very first contract was $27 million for eight fights. And for his second contract, Tyson earned over $120 million.
During his career, he earned more than $430 million from both fight purses and endorsements. He was known as the hardest hitter in heavyweight history, and this reputation came with a lot of money.
He made money through a few side hustles as well, making cameos in films like The Hangover and starting business ventures selling cannabis. At his peak, Mike Tyson’s estimated net worth was about $300 million.
A Life of Luxury
Mike loved having money from boxing, and he spent it almost as quickly as he made it. He spent more than $100,000 on jewelry every month and had over 100 cars in his life.
He had a staff member whose job was to wear an army uniform and yell the words “guerilla warfare” at Mike’s press conferences. The annual salary for that unique job was $300,000.
He’s also known for his tiger collection. He had three Bengal tigers that he housed in a custom enclosure, with a private animal trainer.
His first mansion in Connecticut had 21 rooms including a full nightclub and casino. It was later bought by 50-Cent. He had mansions in Las Vegas, Maryland, and Ohio. With gold-plated furniture, private pools, and even a basketball court, his homes were the definition of luxury.
Big Losses To Mike Tyson’s Net Worth
In 2003, he filed for bankruptcy due to his excessive spending. He was more than $23 million in debt, after facing a few losses and another stint in prison.
Tyson earned his way back to success bit by bit. He paid the debts with every boxing purse he won and finally ended up back in the green.
But the consequences of his actions still reverberate today. Despite the power of his punches and his dominant winning streaks, Mike Tyson’s net worth in 2021 is just $3 million. This is a far cry from the 100s of millions of dollars he earned throughout his years in the ring.
Where Is He Today?
Today, Tyson lives in his Las Vegas home, earning a living by making personal appearances at events. Tyson still runs a podcast, “Hotboxin’ With Mike Tyson,” and is showing some indication of stepping back in the ring this fall (he has no lack of challengers).
A Rocky but Successful Career
Mike Tyson’s career and spending habits have been controversial and tumultuous. Every bit of success he enjoyed was followed by loss. His biggest losses, in fact, weren’t in the ring but in the bank. Although he’s still comfortable and secure, Mike Tyson’s net worth reflects a career that was constantly in flux.
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