Mike Tyson earned over £300m during his professional boxing career but now has a net worth of just £7m.
‘Iron Mike’ became the youngest boxer to win a world heavyweight title in 1986 at the age of 20 and went on to earn £285m from fight purses alone during his career.
His pre-retirement earnings were further augmented by television endorsements and appearances, including a multimillion-dollar payout to appear at WWE Wrestlemania in 1998. Overall, this meant Tyson earned more than £300m during his fighting career, but the 55-year-old is now valued at just £7.6m, according to Sportskeeda.
Despite his huge career earnings, Tyson struggled with financial mismanagement for much of his career and he filed for bankruptcy in 2003 with debts that reportedly totaled £17.5 million.
During his career, many of his fights had been extremely successful pay-per-view fights, with his fight purses reflecting his popularity. It is understood that Tyson’s highest purse came to £27million for his fights with Lennox Lewis, Bruce Sheldon and Frank Bruno.
However, that income could not help Tyson avoid falling into debt, with his bankruptcy coming just months after his last professional win against Clifford Etienne in 2003.
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Since then, however, Tyson has been able to rebuild his finances, first through TV and film appearances, including the popular Hangover trilogy.
Tyson also owns a ranch in the United States, named Tyson Ranch, which grows and sells a range of cannabis products and reportedly sells over £360,000 worth of weed each month.
He also made a return to boxing in 2020, taking on former boxer Roy Jones Jr. in an exhibition bout, although Tyson has since claimed he has yet to be paid in full for the bout.
Speaking on the FULL SEND podcast in January, Tyson revealed, “Most of the time, but there’s still a lot that sticks out and I can’t even comment on that. Yeah, that was really tricky.”
Tyson has since teased another return to boxing and flirted with the idea of fighting YouTubers-turned-boxers Jake and Logan Paul, but no fight has yet been agreed.