Mike Tyson has always been a major box office draw, amassing an enormous fortune during his illustrious boxing career—before ultimately losing it all in a series of financial missteps. Now, as Tyson prepares to face YouTuber-turned-boxer Jake Paul in a high-profile crossover fight on November 15, 2024, many are curious about Iron Mike’s financial journey, his current net worth, and how much he stands to earn from this highly-anticipated event.
Jake Paul vs. Mike Tyson: A Showdown for the Ages
The hype for the Jake Paul vs. Mike Tyson fight has reached fever pitch. The clash between the young internet sensation and the veteran heavyweight champion has garnered attention around the globe. During the weigh-in event, tensions flared as Tyson and Paul clashed on stage, with Tyson delivering a slap to his much-younger rival. But for both fighters, this is not just about animosity or showmanship—it’s about financial gain.
Mike Tyson’s Money: The Rise, the Fall, and the Comeback
Throughout his iconic career, Mike Tyson was one of the highest-paid athletes in the world. It is estimated that Tyson earned over $300 million (around £234 million) in total career earnings, although Forbes suggests that this figure could have been as high as $685 million (£535 million). Tyson, like many sporting superstars, spent lavishly—on luxurious homes, flashy cars, and even pet tigers.
The temptation of an extravagant lifestyle, coupled with some poor financial decisions, caused Tyson’s fortune to dwindle. By 2003, Tyson was forced to file for bankruptcy, with reports indicating that he was $23 million (£17.9 million) in debt. Despite being one of the most successful boxers of all time, Tyson lost his wealth almost as quickly as he made it.
However, after years of financial challenges, Tyson has made an impressive comeback. Today, as of November 2024, his net worth is estimated to be around $10 million, according to Wealthy Gorilla. Although a far cry from his earlier fortune, this financial recovery is the result of several savvy business moves and ventures into new industries.
How Mike Tyson Lost His Fortune
Tyson has been candid about how his wealth slipped away over time. Reflecting on the loss, Tyson has said, “When you’re making that much money, it lasts you a long time. The money didn’t run out right away, it took like 15 or 16 years for me to go broke. I was doing a lot of foolish things like, ‘Hey baby, do you like that car? Okay, come and spend the weekend with me,’ pure crazy stuff you can do with your money.”
He added, “I spent my last money I had for rehab, about a million dollars. I had enough money left, about $2 million, and I bought a house in Phoenix. The house was a hard sell, but someone loved it and boom, I got the money. This is God at work.”
In addition to reckless spending, Tyson’s life was marked by legal and personal challenges. In 1992, he served three years in prison after being convicted of rape, which had a significant impact on his career and earnings potential. Despite the setbacks, Tyson’s story is also one of resilience and determination.
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How Iron Mike Recovered Financially
Following his boxing career, Tyson reinvented himself in the entertainment and business world. He starred in movies, with his most notable appearances being in The Hangover film franchise. He also had his own animated TV show called Mike Tyson Mysteries, which further cemented his cultural relevance.
From 2019 to 2023, Tyson produced a podcast called Hotboxin’ With Mike Tyson, which became one of the most popular combat sports-related podcasts on the internet. He invited various celebrities and athletes to share their stories, and the show amassed a large following.
One of the most notable aspects of Tyson’s financial recovery, however, has been his venture into the cannabis industry. Tyson owns a weed farm called Tyson Ranch, where he grows and sells his own brand of cannabis products, including weed-based wellness items. According to Cheat Sheet, Tyson Ranch reportedly sells over $500,000 worth of cannabis each month, although Tyson has humorously mentioned that he smokes about $40,000 worth with his guests.
Despite regaining financial stability, Tyson has expressed that he doesn’t plan to leave his fortune to his children. The 58-year-old has been divorced twice and is a father to seven children. Speaking about his decision, Tyson said, “Pray more and work harder. Be the hardest worker and believe yourself. I can’t help them by giving them [my kids] money. I can only hurt them if I give them money. They have to learn because if they have no aspirations and experience no adversity, at the slightest fight they will give in.”
How Much Will Mike Tyson Earn for Fighting Jake Paul?
The upcoming Jake Paul vs. Mike Tyson fight, streaming on Netflix, is expected to generate significant earnings for both fighters. Jake Paul has boasted that he will pocket an estimated $40 million for the bout, and it is reported that Tyson will be paid the exact same amount for stepping back into the ring. This massive payday reflects Tyson’s continued box office draw, even at 58 years old.
In classic Jake Paul fashion, the YouTuber even released a cheeky video offering Tyson an extra $5 million if he could last longer than four rounds in the fight. However, Paul added a caveat—if Tyson fails to get past the fourth round, he must get a tattoo reading “I love Jake Paul.” Tyson responded to the offer, saying, “He should offer more. Tell him probably about 20 (million).”
The Fight of Two Eras
The clash between Tyson and Paul represents a unique blend of two generations of fighters. Tyson, with 50 career wins and 44 knockouts, is one of the greatest heavyweights of all time. Meanwhile, Paul, with 10 wins in his young boxing career, represents a new age of internet celebrities entering the world of sports.
On November 15, 2024, fans around the world will be watching as the boxing legend and the social media sensation face off. The fight is not just about victory in the ring—it’s about legacy, showmanship, and financial gain.
Tyson’s comeback story, his re-entry into boxing, and his high-profile fight with Jake Paul serve as a testament to his resilience and his ability to keep fans entertained, no matter what arena he’s in.
