Mike Tyson: Story from the uncontrollable king of boxing to bankruptcy

Whenever the great boxers will be confronted in the world, the name of Mike Tyson will come to the top. Whenever he landed in the ring, his opponents trembled. They are identified by many names like ring storm and iron mike. Tyson fought a total of 57 fights in his professional boxing career. Out of these, he won 50 fights. Such a big status was found because 44 fights were won directly from knockout. Tyson suffered 7 defeats, of which 5 from knockout and one from one they were disqualified. Along with this Mahahatna, there were many controversies in his life and career. When Mike Tyson was at the top of his career, he was the owner of a good net worth, but in 2023 he was declared bankrupt. Arsh came on the floor. But how? The story is quite interesting.

In the late 1980s, Tyson was the unconscious king of the boxing world. Tyson, who grew up in Brooklyn, New York in a poverty and crime-filled atmosphere, changed his life through boxing. At the age of 20, he became the youngest Heavyweight Champion. This record is still intact today. He remained invincible from 1987 to 1990, and in every battle of him, the audience was desperate to see his strength and speed.

At his peak, Tyson was earning crores of rupees from every battle. In 2002, he earned $ 103 million (about Rs 850 crore) from a battle against Lenox Lewis. Out of this, $ 75 million was pay-per-view bonus. His total earning in his career was more than $ 400 million (about 3300 crores).

When anyone gets so much money, bad habits also come together. However, some people stay away from evils and become great in every aspect of life. But not everyone can do this. Mike Tyson was also among such people, who were surrounded and ruined by evils. At the peak of success, Tyson’s life became like an Ayyash king. He used to raise animals like luxury cars, big havelis and even Bengal tigers. He had more than 100 cars, including a Bentley Continental SC, which cost $ 380,000 at that time. Tyson spent $ 4.5 million on cars and motorcycles, $ 400,000 on pigeons and animals, and $ 230,000 every year on phone bills.

His entire earnings in youth were lost to indiscipline. In 1992, he was in jail for three years in a rape case, which gave a big blow to his career. Even after coming out of jail, his difficulties did not diminish. In the fight against Evander Holiday in 1997, he cut off the ears of Holidayfield, after which his image suffered a huge damage. His earnings were, but more expenses than that.

Promotor vs Tyson’s controversy

His promoter Don King was a big character in Mike Tyson’s career, but this relationship proved to be harmful for him. When Tyson was at his peak in the 1980s, Don King became his promoter. King organized many big fights of Tyson, from which Tyson earned crores. But the conditions of King were very strict. He used to take up to 50 percent of Tyson’s earnings. For example, Tyson earned $ 30 million from 1997 Evander Holiday Fight, but King took $ 15 million from it. Tyson later sued King, alleging that King grabbed more than $ 100 million from him. In 2004 the case was resolved, and King was fined. He paid $ 14 million to Tyson. By this time, Mike Tyson’s financial condition had deteriorated and this amount was not enough to get out of those conditions.

In 2023, Tyson’s economic condition deteriorated so much that he had to declare bankruptcy. His assets decreased from $ 300 million to a loan of $ 23 million. He had to pay $ 13.4 million to IRS, $ 4 million to the British Tax Authority, and 9 million dollars to his ex -wife for divorce settlement. Everything was ruined. Tyson’s biggest mistake was his unbridled lifestyle. He spent without thinking, trusted the wrong people, and did not plan to handle his earnings.

However, Tyson, who was the hero of any time, did not give up. In 2020, he earned $ 10 million from an exhibition match against Roy Jones Junior. Subsequently, his fight with Jake Paul in 2024 brought him $ 20 million. Tyson started his cannabis company “Tyson 2.0”, which earned $ 150 million in 2023. Today his net worth is said to be 30 million dollars.