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Mike Tyson: the Boxing Icon Is This Wealthy

Mike Tyson, a former heavyweight world champion from the United States, is now retired. Mike Tyson has a net worth of $10 million as of this writing. Michael Jordan was one of the world’s most recognizable and well paid sportsmen during his time. At the tender age of 20, he became the sport’s youngest ever champion. As a result, he lost or was defrauded of an estimated $300 million at his height. In 2003, Mike was declared bankrupt. Apparently, he was in debt to the tune of $23 million at the time of the bankruptcy filing.

mike tyson

Mike Tyson made at least $430 million in purses and sponsorships throughout the course of his career, which translates to about $700 million today when adjusted for inflation. He was deemed “the most vicious fighter to come into a professional ring” by Sky Sports and ESPN as “the hardest hitter in heavyweight history. ” Tyson was a skilled fighter, but his image was tarnished by controversies both in and out of the arena.”

Early Life of Mike Tyson

The 30th of June 1966 saw the birth of Michael Gerard Tyson in the Brooklyn borough of New York City, and the rest is history. As a child, Tyson lived in a difficult area with a stepfather who was heavily engaged in criminal activity and gambling. Tyson and his mother had to relocate when he was ten due of financial difficulties.

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Mike Tyson had 38 arrests under his belt by the time he was thirteen, and he was often involved in fights with older boys who made fun of his voice (Tyson speaks with a lisp). In high school, a juvenile detention teacher and a former boxer discovered Tyson’s fighting prowess. In the end, he teamed up with Cus D’Amatto, who would have an enormous impact on the future boxing champion. At the age of 16, D’Amatto took over as Tyson’s legal guardian when his mother died away. From an early age, Tyson worked with Kevin Rooney.

Career in the Ring as a Teenager

Junior Olympic gold medals in 1981 and 1982 were Tyson’s first taste of professional boxing. He also competed in the 1984 Summer Olympics, when he faced off against Henry Tillman, however he was unable to overcome the deficit. It was at the tender age of 18 that Tyson made his professional debut, defeating Hector Mercedes through a first-round TKO.

mike tyson

In the future, Tyson would routinely terminate bouts in the first round as a rising trend. As he proceeded to battle opponents who were more difficult than those he had previously fought, some predicted an early climb to celebrity for him. When Cus D’Amatto passed away in 1985, Tyson lost a mentor and a father figure. Many people predicted that Tyson’s mental health would suffer as a result.

Breakthrough of Mike Tyson

Jesse Ferguson’s nationally broadcast battle with Tyson made him a household name. As soon as Tyson had broken Ferguson’s nose with an uppercut, it was evident the bout would end in his favour. Ferguson was disqualified for improperly clinching the fight, and Tyson emerged victorious.

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Tyson’s fight with Marvis Frazier, a previous world championship contender, was another televised spectacle. Tyson was victorious with a 30-second knockout. He became the youngest heavyweight champion ever when he knocked out Trevor Berbick in the second round of their 1986 fight. He became the undisputed heavyweight world champion in 1987 after successfully defending his championship against James Smith. In the same year, he fought for the IBF championship against Pinklon Thomas. As a result, Tyson became the first heavyweight to ever hold all three major championships concurrently.

Larry Holmes, a former champion, was knocked out in the fourth round in 1988 by Mike Tyson. Tony Tubbs was again knocked out in the second round that year, this time via technical knockout. Tyson’s year came to a close with a win against Michael Spinks. The technical prowess of Spinks had many observers expecting a difficult battle for Tyson, but Tyson was able to stop him in 90 seconds flat.

His career started going poorly after that moment. Tyson chose to sack Kevin Rooney, the man he credited with helping him become a world champion following D’Amatto’s death, when a series of personal issues came to light. Tyson’s career took a huge hit when he lost to Buster Douglas in 1990, despite his winning streak in 1989. Prior to the bout, Douglas was devastated by the loss of both of his parents to strokes. A devastating combination from Douglas in the 10th round knocked Tyson out for the first time in his career. In one of the most unexpected sports shocks, he was disqualified by the referee.

What He Did Throughout His Career

In 1991, Tyson was still winning fights when his career was cut short by legal troubles. Tyson was imprisoned for six years after being accused of rape. Tyson turned to Islam at this period. When Mike Tyson was released from prison, the law compelled him to register as a sex offender.

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In the beginning of his return, Tyson knocked out a lot of opponents to reclaim two of his titles. When Holyfield returned from retirement and knocked Tyson out in round 11, Tyson was stripped of his WBA title. When Tyson controversially bit Holyfield twice and was disqualified, he lost the rematch and was stripped of his title. Tyson’s boxing licence was revoked in 1997, making things much worse.

The next year, Tyson returned to the ring and knocked out Francois Botha, only to be incarcerated for a second time for an additional nine months for allegedly attacking two motorists. When he returned to boxing after his release from jail, he quickly knocked out many opponents in the first or second round. He knocked out Lou Savarese in only 38 seconds in 2000.

Boxing Style of Mike Tyson

Mike Tyson learned defensive boxing from Cus D’Amatto, who taught him the “peek-a-boo” method, which included a high guard and fast head movements. Another aggressive counter-punching style relies on charging the opponent, forcing him to swing, and then taking advantage of any resulting openings. Tyson was renowned for his ability to bob and weave, as well as his incredible hitting strength. Tyson was notorious for finishing bouts with a right hook and an uppercut because he had a lot of strength in his legs.

Earnings Throghout His Career

As early as 1987, Mike signed an eight-fight deal for $27 million with HBO, which he kept until his fight with Alex Stewart in 1989. Tyson was able to beat Alex Stewart in little over two minutes and a half. Showtime then offered him a $120 million deal that would cover numerous fights, including Holyfield I and II. Fighting and endorsements brought in at least $430 million for Mike throughout the course of his career. In today’s values, it equates to almost $700 million.

mike tyson

A big portion of his pay-per-view revenues have been seized by promoter Don King for many years now. Mike’s contract with King said that the promoter was entitled to 30 percent of his profits. In Nevada, it was prohibited to do this. It’s been said that Don would withhold half of the money from Mike’s check because of extra costs that he didn’t know about. Don King’s wife would get a consulting fee of $100,000 every bout. In addition, Don King’s kids were paid $50,000 per fight for their services as consultants. Mike used to pay the president of the Mike Tyson Fan Club $1,000 a week during his height of power. The President’s daughter turned revealed to be Don King’s biological child.