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How Much Is Mike Tyson's Net Worth After Bankruptcy? Cars, Homes, Awards and Career!

News by Valdemar Published on 09 Nov,2017 Updated on 23 Jul,2019

Retired American boxer, Michael Gerard, commonly known as 'Mike Tyson' is the undisputed heavyweight champion to date. He is renowned as the youngest boxer successful in winning the heavyweight title at just 20 years of age.

With such a glorious career behind of him, Tyson has an incredible amount of wealth to his credit. We're discussing his net worth, properties, and money here!

How Much Is Boxing Legend Myke Tyson's Net Worth?

Mike Tyson, 51, former professional boxer who made his debut in 1985 has an estimated net worth of $300 million, according to Celebrity net worth.

Mike Tyson ( left) against Evander Holyfield

His speed and aggression made him the winner of the World Boxing Council in 1986. Tyson earned $400 million in the boxing ring throughout his impressive career.

Mike Tyson And His Cars

Boxing legend Mike Tyson purchased his first Rolls-Royce Silver Spur ( in blue) worth $119,500 on the occasion of his 21st birthday. He had tried buying a Rolls Royce after he won his WBA title, but his manager had stopped him then!

Tyson was rewarded with a Rolls-Royce Corniche worth $165,000 when he finally won all three titles; WBA, WBC, and IBF. 

Mike standing in front of Rolls Royce

Mike standing in front of Rolls Royce

He spent a considerable sum of his income on a lavish lifestyle. Promoter Don King bought Tyson two luxury cars in 1988; a black Rolls-Royce Stretch Limousine worth $198,000 and another ivory Corniche after Tyson crashed his convertible. 

Mike Tyson's Car Collections 2017

He has a collection of a total of five expensive cars at present. Tyson has a Bentley Continental SC worth $500,000. To add to that, he has a  Ferrari F50 priced at $50,000 and a Ferrari 456 GT Spyder in a package deal.

Mike's Ferrari F50

Mike Tyson's Ferrari F50

His Lamborghini Super Diablo Twin Turbo worth $150,000 is something that drags everyone's attention!

Mike's Lamborghini at Hollywood Star Cars Museum

Mike's Lamborghini at Hollywood Star Cars Museum

Also, he has a Mercedes-Benz SL-Class 560SL that costs the same as the Ferrari. 

New House at Seven Hills Golf Community 

Boxing legend Mike Tyson lived in Las Vegas for more than 30 years of his life. He has a new home now, and he's back on the track climbing the ladder of success after a decade of legal and financial issues. 

Mike's new home down street

Mike's new home down street, Source: Daily Mail

Mike purchased a 10,000-square-foot home in Seven Hills golf community worth $2.5 million down the road from his old house.

The brokerage firm listed Tyson's previous home for $1.5 million. Sources say that he bought the house from NBA player Jalen Rose back in 2008.

Besides his car collection and an attractive house, he has also bought three Bengal tigers worth around £48,000 each.

His photographer Chris Farina said,

He pulls the tiger out of the cage, and I'm moving back. He starts walking with this tiger up the hill, and I'm shooting all these pictures. The tiger is dragging Mike. He doesn't have the tiger, the tiger is dragging him!

Well, the handsome 'Iron' Mike has an attractive way of life, one that many celebs desire to have one.

Mike Tyson: Is He Bankrupt At Present?

Even though the former boxer earned hundreds of millions of dollars during his entire career, it’s believed that he squandered his whole sum of money on jewelry, mansions, cars, cell phones, clothing and other luxuries. 

Mike Tyson at The Bite Fight Launch Party at Bounce Sporting Club

Mike Tyson at The Bite Fight Launch Party at Bounce Sporting Club

The New York Times reporter Richard Sandomir stated,

One of his most recent extravagances came when Tyson walked into a Las Vegas jewelry store and picked up a $173,706 gold chain lined with 80 karats in diamonds. But he never paid for the jewelry, which is among the $23m in debts specified in the petitions he filed with the United States Bankruptcy Court in Manhattan.

Also, he left the Jewelers Inc. without paying a cent for the diamonds. The store owner said,

Knowing him for so long, I gave him the merchandise and knew he'd pay later. He had open credit with me. He's been through his ups and downs. He will make good on it.

Tyson's filing said that his debts totals exceeded $27 million. As per the court documents filed during his divorce with ex-wife Monica Turner, he spent $400,000 to maintain his lavish lifestyle.

Furthermore, he spent $9 million in legal charges, $230,000 on cell phones and pagers, and $410,000 on some expensive birthday parties within two years from 1995.

Mike Tyson- His Legendary Career In Brief

Tyson initiated his professional career on 6th March 1985 in New York when he was just 18. He’s best known for his controversial image in and out of the ring and his intimidating style.

Tyson is known for being the youngest boxer to win the heavyweight championship, he was 20 years, 4 months and 22 days old when he won the WBA title. 

Mike in the ring with Buster Douglas

Mike in the ring with Buster Douglas

Tyson won his earlier 19 fights by knockout, 12 of them in the first round itself. He achieved the WBC title in 1986 defeating Trevor. In addition, he defeated James Smith and Tony Tucker in WBA and IBF respectively the next year.

His amazing success made him the first heavyweight boxer with all three titles WBA, WBC and IBF. 

The year 1992 was, however, a bad time for the star. He was arrested on rape charges and sentenced to six long years in prison but he was released within three years of imprisonment. 

In 1996, Tyson defeated Frank Bruno and Bruce Seldon winning the titles of WBC and WBA. After his outstanding come back, he was placed among legendary boxers like Floyd Patterson, Muhammad Ali, Tim Witherspoon, and George Foreman; all of them regaining their fame back in the heavyweight championship after a break.

In the year 2002 when Tyson lost the match by knockout to Lennox Lewis. He was knocked out in series by Danny Williams and Kelvin McBride. Mike Tyson retired from professional boxing in 2006, his repetitive failure might be the reason for it.

Quick Facts About Mike Tyson

  • Born on 30 June 1966 in Brownsville, Brooklyn, New York.
  • Has an elder brother named Rodney. His elder sister Denise died of a heart attack back in 1990.
  • Lived in the neighborhood full of crime.
  • By the time he was 13 years of age, he was repeatedly arrested 38 times for several reasons.
  • His talent in the boxing field was spotted by Bobby Stewart, the counselor of a juvenile detention center.
  • Is a high school drop out.

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