• April 10, 2024

Mike Tyson squandered his incredible $400 million fortune in what way?

Legendary boxer Mike Tyson, despite being ranked among the top 15 greatest heavyweight boxers of all time, also holds the highest position in the “spendthrift” rankings.

During his childhood, Tyson grew up in and around some of the highest-crime neighborhoods in the United States. Rising from poverty in Brownsville in the late 1970s to becoming the youngest heavyweight boxing champion of all time and one of the most feared men on the planet, Mike achieved all of this before his 22nd birthday.

At one point, Tyson’s bank account reached $300 million, and his total earnings amounted to $400 million. However, he managed to squander it all in a spectacular fashion.

Mike Tyson became the youngest world heavyweight champion

From his professional boxing debut in 1985 to losing his championship title to Buster Douglas in 1990, Tyson’s life was going well by his own standards. But then, everything began to spiral out of control.

Less than a year after losing his world championship belt, Mike was convicted of raping Desiree Washington and sentenced to six years in prison. He has denied the allegations to this day. Even after serving four years in prison, Mike Tyson still had $300 million in the bank to live a normal life.

During this time, Mike also purchased a 21-bedroom, 24-bathroom mansion with a casino and a nightclub in Connecticut. He also acquired properties in Maryland, Las Vegas, and Ohio, all of which were lavishly furnished with gold and had basketball courts.

It is said that Mike Tyson bought a total of 111 cars throughout his lifetime. At the peak of his career, he owned a limited edition Bentley Continental SC worth $500,000, one of only 73 ever produced.

Mike Tyson still attracts worldwide attention

He also owned several Ferraris, Lamborghinis, a Range Rover, a Mercedes-Benz 500, and a 1995 Rolls Royce. Mike would frequently lend his cars to friends and often forget where he had parked them. He would then send his staff out to find them, and whoever found the car would receive a hefty reward.

In his autobiography, Mike Tyson mentioned finding tens of thousands of dollars that he had forgotten about in a laundry basket from two years prior. He once bought his first wife, Robin Givens, a gold bathtub worth $2 million as a Christmas gift.

However, Mike Tyson declared bankruptcy in 2007 and subsequently fell into debt, but he has never been one to be defeated. To this day, Mike Tyson continues to be known worldwide and has always managed to capture the attention of people around the globe with his ferocity, entertainment value, and enduring allure.

Here is a list of Mike Tyson’s spending habits in the first 33 months after his release from prison:

$4.5 million on cars and motorcycles (19 of which he purchased as gifts for friends).

$100,000 per month on jewelry and clothing.

$400,000 on pigeons and maintaining a tiger.

$125,000 per year for a trainer to take care of the tigers.

$240,000 per month for daily living expenses.

$300,000 solely for lawn care and garden maintenance.

$230,000 for mobile phones and phone bills.

 

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