Mike Tyson made over $500 million throughout his legendary boxing career, yet a few years after hanging up his gloves, he was completely broke. It’s a story that’s all too familiar in sports—athletes earning life-changing money only to end up bankrupt due to poor financial choices. But no one has quite embodied this financial rollercoaster like Tyson.
From lavish mansions and exotic pets to over-the-top spending sprees, the former heavyweight champ burned through his fortune at an astonishing rate. His downfall wasn’t just about spending, though—bad investments, legal troubles, and a lifestyle of excess all played a role in his financial collapse. So, how exactly did “Iron” Mike blow through half a billion dollars?
During a 2022 episode of The Pivot Podcast, Tyson had admitted to throwing money around like it would never run out. “When you’re making that much money, it lasts for a long time,” Tyson said, adding, “But it didn’t go away overnight—it took like 15 or 16 years to go broke.”
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Tyson revealed that the last chunk of his boxing fortune—around $1 million—went to rehab. At one point, Tyson even had to borrow money from a man in China just to buy a mansion after leaving his home in Las Vegas. For a guy who once had everything, it was a harsh reality check.
Due to these ups and downs, Tyson began money differently—especially when it came to his kids. Instead of leaving them a fortune, he wants them to learn the value of hard work.
“If they don’t have aspirations or face adversity, the moment they struggle, they’ll give up. ”, he explained.
It’s been 3 years since this episode aired. During this time, the 60-year-old has found a new lease on life, making millions from his multiple businesses and of course, pugilism.
How much did Tyson make from the Jake fight?
The official payouts for Jake Paul vs. Tyson weren’t disclosed by Most Valuable Promotions or the Texas Athletic Commission, but the rumored numbers floating around are pretty wild.
Paul himself hinted before the fight that he was set to make $40 million, and according to Henry Cejudo, a close friend of Tyson, the boxing legend was looking at a $20 million payday for stepping into the ring.
“I’m here to make $40 million and knock out a legend,” Paul had confidently declared at a pre-fight press conference.
While the knockout didn’t happen, the massive payday definitely did. AT&T Stadium, which hosted the event was absolutely packed, and MVP announced that they shattered the Texas live gate record, pulling in a whopping $17.8 million from ticket sales alone.
That number beat the previous record set by Canelo Alvarez vs. Billy Joe Saunders back in 2021 at the same stadium.
