What is Mike Tyson’s net worth? Mike Tyson is an American former professional boxer. He is well known for his undisputed nature in the boxing field between 1985 and 2005. Tyson got nicknamed the Iron Mike and Kid Dynamite earlier in his career. Later on, he was branded the Baddest Man on Planet. He is one of the best heavyweight boxers ever. Mike claimed his first boxing belt at 20, making him the youngest boxer to win a heavyweight title in boxing history. Mike Tyson has a cumulative net worth of $3 million.
Mike Tyson Biography and Early Life
Michael Gerald Tyson was born on June 30, 1966, in Brownsville, Brooklyn, New York. His mother, Monica, has two other children; Rodney and the late Denise (daughter), who died of a heart attack. Chaos surrounds who Tyson’s father is; Purcell Tyson has been listed as his biological father, but his birth certificate indicates Jimmy Kirkpatrick from Grier Town, North Carolina as his father.
His family lived in Bedford-Stuyvesant but had to move later to Brownsville due to financial challenges. Tyson was just ten by then. Her mother later died when Tyson was 16 leaving him under the care of a boxing manager and trainer. He was a wild kid as he termed himself. At 13, he had been arrested 38 times. He was taken to Tyron School of Boys, where he met with Bobby Stewart, a juvenile detention counselor. Stewart discovered Tyson’s boxing skills.
Career and Rise to Fame
At his amateur level, Tyson defeated Joe Cortez in 1981 and Kelton Brown in 1982, winning himself two gold medals. He, however, lost to Henry Tillman during the 1984 Summer Olympics in Los Angeles.
Mike defeated Hector Mercedes on March 6, 1985, in Albany, New York, during his first professional debut at 18. His winning rate called for more quality opponents like James Tillis, Mitch Green, and Marvis Frazier, among others. His mentor and trainer, D’Amato, died at Tyson’s early career breakthrough.
On February 16, 1986, Tyson participated in his first nationally televised contest at Houston Field House, in Troy, New York. In the ring against him was the journeyman heavyweight, Jesse Ferguson. With his skills, he won the fight by disqualification when Ferguson disobeyed the boxing rules.
After a series of six victories, Tyson proceeded to Glens Fall, New York, where he fought against the former titleholder, Marvis. The event was broadcasted by ABC Sports, where he knocked Frazier down unconscious with an uppercut within less than a minute, giving himself a straight win. Tyson beat Trevor Berbick down in 1986 in round two, becoming the first youngest heavyweight champion in history. Undisputed, Tyson defended his title from James Smith. It took him12-round to beat down the hardcore, Pinklon Thomas, to win the IBF title. Tyson broke the record-holding the three belts at the same time.
From there, Tyson’s career flourished event after event. He continued knocking down opponents fully charged with determination. Larry Holmes, Tony Tubbs, and Michael Spinks were Tyson’s opponents in 1988. Unsurprisingly, he lost to none.
Personal problems started haunting Tyson, so he decided to fire Kevin Rooney, his boxing master. Kevin built him into the man he became after D’Amato’s death. His career hit at a turning point when he lost to Douglas Buster in 1990. Douglas has experienced a bad loss after his mother’s death 23 days to the match day. He fought with winning determination unleashing a terrific blow that sent Tyson canvassing for the first time in his boxing career.
Mike won in 1991 until his career stopped due to illegal commitment. He was arrested and charged with rape, a crime that saw him spent six years in prison. It was during this time that he converted to Islam. As the law required, he registered as a sex offender upon his release.
Tyson regained his two belts immediately after his release after serially knocking down two opponents. Things seemed to go smooth for him till he lost his WBA belt to Holyfield. He controversially bit Holyfield twice during their rematch and got disqualified. His boxing license was nullified in 1997 but got it back in 1999.
In 2003 he fought Clifford Etienne within just 49 seconds. He retired in 2005 after several injuries and defeats. During his boxing era, Tyson amassed approximately $430 million from fights and various awards.
How He Spends His Money
Lifestyle: Mike lived famously using millions on mansions, jewelry, and Bengal of tigers, cars. His Tigers cost him a clean $70,000 each. These tigers stayed in a well-set backyard with a trainer that carried away $125,000 annually.
Real Estates: Mike bought a house in Connecticut, a 21-room building with a night club and a casino. He also acquired a house in Ohio and Maryland. The one in Ohio is furnished with gold while the one in Vegas cost him $4 million.
Philanthropy: In 2012, Tyson launched the Mike Tyson Cares Foundation, whose mission is to give kids fighting chances through provision for kids with a broken background.
He also teamed up with Acquinity Sports to come up with Iron Mike Production for boxing promotion.