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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.

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There are maybe only a few boxers in the sport’s history who have been able to earn nearly as much money as Mike Tyson.

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.

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Tyson credits his mentor Cus for the success he has been able to achieve in his life.

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.

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Truly, at one point in his career Tyson had truly become undefeatable.

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.

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