Former professional boxer, Mike Tyson is still considered one of the most iconic heavyweight boxers of his time. The controversial American athlete has been in the limelight a lot more for his troubles than his achievements. It is no surprise that the 57-year-old has seen all the highs and the lows life has to offer.
The Rise & Fall of Mike Tyson’s Boxing Career
Nicknamed “Iron Mike”, Tyson began his boxing career in 1985 at the age of 18 years when he defeated Hector Mercedes in the first round via TKO. Mike Tyson gained instant popularity for showing no mercy to his opponent in the boxing ring. He continued his boxing career for 20 years until 2005 before he was banned from boxing. Throughout his career, Tyson competed in 58 matches out of which he won 50. 44 of these matches were won by TKO and he had a total of 6 losses in his career with 2 no contests. He dominated his boxing career like none other.
However, the fame was short-lived as the boxer started getting into trouble with the law. In 1991, Tyson was charged with a rape allegation of an 18-year-old Desiree Washington and was charged with the crime in 1992. He was released in 1995 after serving less than 3 years of his term and continued his boxing career.
A 2003 article in New York Times reported that during the peak of his career, Tyson was paid $30 million per fight. He earned about $400 million throughout his 20 years of boxing career. Although, the boxer blew the money away and was announced bankrupt. Mike Tyson owed millions of dollars worth of money in terms of legal fees, tax fees, loans, and child support. Altogether, his debts amounted to more than $27 million.
When Mike Tyson declared bankruptcy in 2003, he issued an affidavit that stated-
“I have been in financial distress since 1998, when I was burdened with substantial debt to Showtime, taxing authorities and parties to litigation. Since that time, although my fight income, various asset sales and litigation recoveries have enabled me to pay a lot of my debt, I am still unable to pay my bills.”
His ex-wife, Monica Turner’s divorce lawyer also issued an understatement describing Mike Tyson’s spending habits.
“He spent enormous amounts of money that were inappropriate at best. Part of it can be attributed to a lack of willpower. Part of it can be attributed to people who he let get close to him and depended on his goodwill and took advantage of him.”
Turner’s lawyer wasn’t entirely wrong as on his 30th birthday, Tyson had thrown a big birthday bash inviting over 700 people. The cost of the party was approximately around $580,000. He further added that Turner is “sorry for what he’s going through and is trying to be as supportive as she can.”
Mike Tyson Rebuilding Himself
After the bankruptcy, Tyson fought in two more fights before retiring from his career. He fought Danny Williams and Kevin McBride and lost to both of them. However, his fees for the fight helped him pay off his debts. Since then, Tyson did a few cameos in Hollywood movies like The Hangover starring Bradley Cooper, Ed Helms, and Zach Galifianakis.
At the age of 57, Mike Tyson owns a cannabis ranch in California which is estimated to generate $900,000 per month for the boxer. He is also the host of a successful podcast, Hotboxin. However, his controversial career has helped him stay in the limelight all throughout his life whether it’s good or bad. He returned to the ring back in November 2020 against Roy Jones Jr. for an exhibition fight at the Staples Center in Los Angeles, California. The match ended in a split draw.
