Here’s a look at the financial standing of the former world heavyweight champion, including how much he and Jake Paul will be paid for their highly anticipated bout on Friday night.
Mike Tyson has had an impressive career—and quite an interesting life.
The former world heavyweight champion, who claimed the title at just 20 years old, faced significant problems after rising to the top so early and coming into a lot of cash. Now that the 58-year-old boxing legend is set to face off against 27-year-old Jake Paul in Netflix’s live-streamed sports event, take a look at Tyson’s current net worth, along with some of the more controversial aspects of his past.
What Is Tyson’s Net Worth?
Tyson’s estimated net worth is $10 million, according to Celebrity Net Worth.
Was Tyson Bankrupt?
According to The New York Times, Tyson had earned at least $400 million before filing for bankruptcy in 2003.
One of the key factors behind his financial struggles was his lavish lifestyle. He spent $4.5 million on cars and motorcycles, including 19 vehicles bought for friends. Tyson also spent $400,000 on pigeons and exotic animals, such as Siberian tigers.
(Photo by: The Ring Magazine via Getty Images)
Additionally, Tyson owed over $51,000 in back child support, and his assets were reported to range between $10 million and $50 million, according to his bankruptcy filing.
In total, the former heavyweight champion carried $27 million in debt at the time of his bankruptcy.
Did Tyson Go to Jail?
Yes, Tyson did go to jail. He was sentenced to six years in prison and served about three years before being released on parole.
In July 1991, Tyson, then 25 years old, was arrested for the assault of 18-year-old Desiree Washington in an Indianapolis hotel room. Despite maintaining his innocence, Tyson was convicted of rape. Under federal law, he is required to register as a sex offender for the rest of his life.
In 2003, during an interview with Fox News Network, Tyson referred to Washington as “a lying, monstrous young lady,” adding, “I just hate her guts.”
“She put me in that state, where I don’t know… But now I really do want to rape her and her … mama,” he added, claiming that Washington accused him of the 1991 assault because she was “money hungry.”
When Was Tyson’s Last Fight?
The former heavyweight world champion has not fought in a professional bout since 2005, when he suffered a sixth-round loss to Kevin McBride. Since then, Tyson has participated in exhibition matches, including a 2020 showdown against fellow veteran Roy Jones Jr., which ended in a split draw.
How Much Is Tyson Getting Paid for the Fight?
Promoters have not revealed exactly how much Tyson will earn for Friday’s fight, but reports from online sources, including DraftKings Network, estimate he will make around $20 million.
Compared to his previous earnings, the difference in pay is significant. After being released on parole and returning to boxing in 1995, Tyson earned $30 million for each of his next four matches. This included the infamous 1997 bout against Evander Holyfield, in which Tyson bit off part of Holyfield’s right ear. Tyson was disqualified from the fight, had his boxing license revoked, and was fined $3 million, but he was allowed to keep his purse from the fight.
In contrast, Paul is set to earn $40 million, according to estimates from DraftKings Network and other sources. The social influencer, with 27 million followers on Instagram alone, is also the co-founder of Most Valuable Promotions (MVP), the company promoting the event in partnership with Netflix.
How Long Is the Fight?
Tyson and Paul will face off in eight, two-minute rounds.