Mike Tyson is literally the G.O.A.T. of boxing and has an impressive record. At just 20 years old, he made history by becoming the youngest heavyweight champion in 1986. A year later, he made history again by being the first boxer to simultaneously hold three belts for his WBA, WBC and IBF title wins. He continued to rule the world of boxing by becoming the undisputed world heavyweight champion for three consecutive years from 1987 to 1990. With his major wins came major paychecks. Although Mike's boxing journey was a consistent rise to the top, his financial journey was a mixture of high highs and low lows. At the height of his career, Mike had a jaw-dropping net worth of around $300 million, according to Celebrity Net Worth and other sources.
© Getty ImagesGiven his massive success, Mike enjoyed a lavish lifestyle at the time, however, he lived beyond his means, which led him to hardships with bankruptcy down the road. He had purchased a 21-bedroom mansion in Connecticut, which featured a nightclub and a casino. On top of that, he spent loads of money on exotic cars, name brand clothes and expensive jewelry. At one point in time, Mike even purchased three Bengal tigers at $70,000 each, by the names of Boris, Storm and Kenya, and they cost $200,000 for just upkeep.
© Getty ImagesMike admitted that his desire for all things luxury came from his poverty-driven childhood. He shared: "That stems pretty much from me being poor and never having anything. From me being bitter, angry, from me being in prison," per AS. He explained that he eventually maxed out his finances and shared: "It all went crazy and lasted between 15 and 16 years. It seemed like a lot of money but eventually it was gone."
In 2003, Mike was forced to file for bankruptcy being that he was over $23 million in debt. His financial woes included $9 million in a divorce settlement from Monica Turner, who was his second wife, as well as owing over $17 million for unpaid British and U.S. taxes. While looking back at his life, Mike expressed during an interview with Graham Bensinger in 2016: "I was young and reckless. That's just how I lived my life. I don't even fathom that. I don't even think I'm that kind of guy. I don't even consider having money like that anymore. That's just my ex-life – how I lived my life."
© Getty ImagesMike got a major wake up call and decided to turn his life around by taking small steps to rebuild his net worth. He has since launched his popular Hotboxin' podcast and gained capital through ventures in cannabis and endorsements. Besides that, he's also made appearances in reality TV shows, films and documentaries.
© Getty ImagesThe wrestler transparently shared during an interview with Andre Ward: "I don't wish that on anyone. I don't wish my life on no one. As a whole, yeah." His efforts have paid off, as he's managed to have a current net worth of $30 million, per Celebrity Net Worth and other sources. Mike's also not done with the boxing ring. He will face off against YouTuber turned boxer Jake Paul on November 15, and that fight will provide the champion with at least $20 million.
