Michael Gerard “Mike” Tyson, is a retired American Boxer born in Brooklyn, New York. His records include being the youngest boxer to win the WBC, WBF and the IBF world heavyweight titles at the ripe age of only 20 years old.
Well with winning all these titles and starting out young in the boxing career how much do you think he is worth? During his career at one point he received over US$30 million for several of his fights and $300 million during his career. With all this money you would think he would be a billionaire by now! Wrong. A long time ago, Mike Tyson sat on top of the world. But back in the year 2003 Tyson declared bankruptcy. In 2003 tyson owed money to everyone. In 2004 for his Farmington mansion sold for over $4 million dollars, most likely going to the creditors. In an interview he did some time ago with Barbara Walters he revealed to her without any shame that he was “totally destitute. How the heck could this happen with all that money? He admitted how he got to that low point was that he “was having a lot of fun, and that it just happened”. The retired boxed also admitted that it was his excessive and frivolous spending that led to his bank account’s failure.
So now what do you think his overall net worth is? Remember at the peak of his career he was worth upwards of $300 million if not more. His divorce in 1992 and having some legal issues at that time also took a toll in him losing some money. Tyson also was charged $3 million in a fine against the fight with Evander Holyfield when he bit his ear. After that incident it was the beginning of his financial ruin. For a while after this Tyson spent time in the Phoenix, Arizona area raising 350 pigeons. He also started a tour of exhibition to pay off the debts. After being one of the richest boxers in history, all those poor financial decisions and the bankruptcy, the former heavyweight boxing champ is now worth just one million dollars.