Mike Tyson

Mike Tyson not only became the youngest boxer to win a heavyweight championship title but he was also the first heavyweight boxer to hold the WBA, WBC, and IBF titles under his belt. During his career, he earned hundreds of millions and lost almost everything due to debt, legal issues, and other expenses. Currently, he is spearheading a cannabis empire and Iron Mike’s companies are rolling revenue papers of $160 million.

What Is Mike Tyson’s Net Worth?

In 2024, Mike Tyson had a net worth of $10 million.

At present, Iron Mike’s net worth can’t be compared to the sum he collected throughout his career. After all, until 2016, Mike Tyson had a career earning of $683 million and he was named 11th Highest-Paid Athlete Of All-Time by Forbes. He personally took over $400 from the ring. However, his excessive spending, bad investments, and multiple lawsuits forced him to go bankrupt. Quite a contrast at the end if we put super zionist Floyd Mayweather’s career and his business dealings on the parallel. 

Regardless of his past, Mike is recovering from his financial loss through his cannabis companies which are also his main source of income. Per month, he cashes in nearly $500,000 to $1 million per month, according to Fox News. He also gets paid for his movie roles. For The Hangover I and II movies, he collectively earned around $300K, according to Essential Sports.

What is Mike Tyson's claim to fame?

Mike Tyson once sat on the same couch as Muhammad Ali in an interview. He was asked if he could beat Ali if he was in his prime. Iron Mike replied humbly, “Before him all heads must bow down and all tongues must confess.” That being said, Tyson did say these words but he was modest about his own rise and achievement which are as follows.

• Start of the legend: At just 20 years old, Tyson established a record and became the youngest heavyweight champion ever. His victory over Trevor Berbick in 1986 was the beginning of a reign. 
• Undefeatable: Tyson was renowned for his explosive knockout ability, ending 50 of his 58 wins inside the distance. Out of these 50, 44 matches won by Mike were Knock Outs (KO).
• The "Baddest Man on the Planet" terror that shook the ring: Tyson built a fearsome reputation that went far beyond boxing. As "Iron Mike," he became a global icon, embodying raw power and intimidation. 
• Fall and Rise: Mike Tyson ran into several troubles. From getting sued and jailed in the 1990s to being accused of horrible crimes. However, he overcame the odds against him and had a remarkable comeback, regaining the WBC and WBA titles in 1996.

What Businesses does Mike Tyson own?

Mike Tyson’s business portfolio is mainly dominated by his Cannabis related companies. However, he has some dealings in some other market areas as well.

• Tyson Ranch: It is a Cannabis Resort spread across 420 acres which not only produces Marijuana for Tyson’s marijuana companies. It is also a place that Mike rents for events like a Weed-themed music festival.  
• Cannabis Empire: According to Fox Sports, Mike Tyson is earning as much as $1 million from his companies which are involved in weed product-selling business. In 2016, Mike founded Tyson Holistic Holdings. Later in 2021, he laid the foundation for another brand called Tyson 2.0. Then came The Ric Flair Drip Cannabis Line in 2022. Eventually, Tyson had to make a new parent company for Tyson 2.0 and Ric Flair Drip which was named Carma Holdings LLC. Collectively, both companies/brands generated a revenue of $160 million in 2023.
• Legends Only League: Tyson co-founded the Legends Only League, a platform for veteran athletes to compete in their respective sports. All of his fights are also covered and governed under the same company. That said, the league gained attention with Tyson’s return to the ring in 2020, where he fought Roy Jones Jr. in an exhibition match.

What brands does Mike Tyson own or endorse?

Some of the most recent brand collaborations by Mike Tyson are as follows.

• Bitcoin Direct: In 2016, Tyson collaborated with Bitcoin Direct for “The Mike Tyson Digital Wallet”. How much money he was paid for this? It remains a secret.
• Nufabrx: This “Healthwear” company partnered with Mike Tyson’s Coppergel for a collection of pain-relieving clothing in 2020.
• Netflix: Mike Tyson and his upcoming match opponent, Jake Paul signed a contract with Netflix in May 2024. 
• Holiday: In July 2024, Mike Tyson’s TYSON 2.0 and vape manufacturer, Holiday came together to sell a premium cannabis vape collection by Tyson’s company in New York.
• Smart Cups: Mike Tyson collaborated with Smart Cups in 2020. Forbes also reported that this partnership will allow Mike Tyson to print cannabis beverages.

How does Mike Tyson spend his wealth?

Mike Tyson earned tens of millions from his matches. However, he ended up spending all the money he had way more extravagantly than Johny Depp. Just until 2003, he had an outstanding debt of 23 million in debt and why was that? The following are the reasons.

• Legal troubles: Mike paid $9 million to ex-wife Monica Turner after their divorce and owed $9 million in legal fees. He shelled out $800,000 to Stacey McKinley when he was sued. Other expenses also included $51,949 in child support to Kimberley Scarborough who was his ex-girlfriend. 
• Lifestyle: Tyson organized birthday parties which amounted to as much as $410,000. He owned Siberian tigers and their maintenance needed  $8,100. His travel through Limos stacked up over $370,000. 

How many houses does Mike Tyson own?

Most of Mike Tyson’s real estate was sold in order to settle his debts. He currently owns $2.5 million Mansion in Las Vegas. He also owns the Cannabis Resort called Tyson Ranch which has a worth of $44 million.

How many cars does Mike Tyson own?

The baddest man on the planet used to own a huge collection of cars. However, due to his debts and the weight of bankruptcy. It remains unclear how many are left in his garage. Here are some of the cars he has been associated with.

• Jaguar E-Type: A beloved classic from the last century. It has an average value of $98,118, as per Classic.com.
• Lamborghini Super Diablo Twin Turbo: Kid Dynamite preferred his cars to be as aggressive as him. That’s why his car collection had this Lambo. Sadly, it went for auction as well.
• Bentley Continental SC: One of the several cars that went for auction so that Mike could settle his debts. 

Besides these, Mike Tyson’s car collection also had a Mercedes-Benz SL-Class 560 SL, Rolls-Royce Corniche, and many other luxury vehicles.

What are Mike Tyson’s charitable contributions and philanthropic endeavors?

Mike Tyson has the Mike Tyson Cares Foundation, a charitable organization that helps people from lower-income families and communities for a better life. It also pushes for social and prison reforms and provides help to those who are seeking education. The Foundation strives to provide various services to the homeless as well. Mike Tyson has also attended the 2023 Miami International Friends of Israeli Defense Forces (FIDF) Night of Solidarity in 2023. Almost $10 million was raised at the event. However, how much the boxing champion donated is yet to be revealed. That being said, Tyson also received criticism for supporting IDF which has caused famine in Gaza, and committing war crimes, according to the UN.

What’s next for Mike Tyson?

Mike Tyson will be fighting one of the Paul Brothers on November 15th. The match was supposed to happen on July 20th. However, much much-awaited Jake Paul vs. Mike Tyson ring showdown is set to take place on 15th November 2024, according to Netflix.

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