Here’s How the Boxing Legend Mike Tyson Lost All His Millions
Mike Tyson, a renowned figure in sports, has earned a lot of money through his boxing career. Despite the various highs and lows in his life, Mike managed to establish himself as perhaps the most successful person in the boxing profession.
However, his current net worth is estimated at around $3 million, which is nearly not as much as he should have considering how much money he has earned over the years through boxing.
A Little Background
Tyson was born in Brooklyn on the 30th of June, 1966. His mother remarried after getting a divorce from his father, which happened shortly after his birth. But, unfortunately, things did not quite settle down for her, and after struggling for years, she died when Tyson was only 16 years old, leaving Cus D’Amato, a boxing trainer who was the boxing manager for Tyson, to take care of him.
Throughout his teenage, Tyson had to face the police many times for various reasons. However, his manager was still pleased with him because of the phenomenal talent that he displayed in boxing. Right from a young age, he displayed the characteristics of a professional boxer with a promising future. He took part in the amateur Olympic Games, winning medals and awards, back in 1982.
An Amazing Career
Then, in 1985, he made his debut in the professional boxing ring, with his first match against Hector Mercedes. This match ended in Tyson delivering a knockout defeat to Hector, and he eventually earned 15 bouts in his first year of professional boxing. He went on to have an amazingly successful career, winning 26 fights by knockouts out of a total of 28 fights. This gained him a lot of media attention afterward.
Within a short span of time, Tyson was ready to fight for the heavy bids. This enabled him to get three championship belts, winning all the major titles including the IBF, the WBC, and also the WBA. He also took part in the Olympic Championship of 1984 and won a gold medal in the heavyweight category. Of course, all this winning earned him millions of dollars in prize money.
His championship wins also opened other income streams for him. For example, he made various collaborations with gaming companies, including the game called Punch-Out!! released by Nintendo Entertainment, which was able to sell more than a million copies right after its release back in 1987. Tyson also appeared in several movies and published his own book as well.
Losing It All
Despite such phenomenal professional successes, Tyson’s personal life was not nearly as successful, as the boxing superstar has had to face many problems which have also been publicized by the media. For example, over the course of his life, he has married three times and has seven children in total.
According to reports, because of the negative publicity surrounding his personal life, Tyson ended up losing $300 million of his earned fortune in legal proceedings and in settling his personal disputes.
More in Financial Adviser
Here’s How David and Victoria Beckham Have Become a Billion Dollar Brand
Victoria and David Beckham have been the all-time power couple, with everything from their dressing sense, their well-mannered children, to their...December 2, 2019
Tips On Getting Rid Of Your Inner Shopaholic
For some people, shopping can be a way of receiving stress, it can also be a way of having fun, and...November 2, 2019
You Can Stay at These Marilyn Monroe or Howard Hughes-Inspired Bungalows for $8500/Night
If there is one hotel which the A-list celebrities of Hollywood just love to visit, it is the Beverly Hills Hotel....October 30, 2019
Count on the Duggars for an Amazing Renovation as They List a Mansion for $1.8 Million
Anyone who loves reality TV show knows who the Duggar family is. Jim Bob and his wife Michelle Duggar became household...October 30, 2019
This is How Johnny Depp Spends $2 Million a Month On His Lavish Lifestyle
According to the former business manager of Johnny Depp, the actor spends extravagantly to support his lavish lifestyle, requiring a monthly...October 30, 2019
You Can Earn More Money By Simply Switching Your Credit Card
Millennials seem to prefer living their life in flux because of an increasing number of job opportunities that allow for remote...October 30, 2019
Scarlett Johansson’s MASSIVE Marvel Paycheck Shows Closing Pay Gap in Hollywood
For the past decade, the Marvel Cinematic Universe has kept us thoroughly entertained, and there are no signs of them slowing...October 30, 2019
Why Prince Harry and Meghan Can’t Wait to Move to Africa
Recently, the British royal family’s Kensington Palace released a statement announcing the fact that Prince Harry and his wife Meghan Markle...October 30, 2019
These Weird Things That Jennifer Aniston Has Done for a Quick Buck Will Make You Gasp
We have loved Jennifer Aniston in many of her brilliant performances over the years, especially her portrayal of the character Rachel...October 30, 2019