Mike Tyson’s Business Portfolio: How He Went From Bankruptcy To $160 Million Partnership – EssentiallySports

“Handling money is an art… You have to go somewhere and learn the art of handling money… No one is born knowing how to handle money. You need to learn how to handle money. This is art” Mike Tyson said at a recent LF* Go press conference announcing its partnership with the energy supplement brand.

These words of the former heavyweight champion reflect his journey and the challenges he faced throughout his storied boxing career. After staring down bankruptcy in 2003, “Iron” Mike made a financial comeback that could make a movie in its own right. His biggest and most successful venture is his partnership with Tyson 2.0, which is worth a whopping $160 million. But the question is how did it get there?

How did Mike Tyson go bankrupt?

Before diving into how Mike Tyson transformed into a business tycoon, it’s important to understand how he lost his fortune in the first place. Although Tyson filed for bankruptcy in 2003, his financial problems began long before that—some say they began when he was sent to prison. Although he continued to fight until 2005, Tyson filed a lawsuit in 1998 against his promoter Don King for $100 million, alleging that King had defrauded him out of millions over more than a decade.

Tyson ended up winning $14 million from King, but even that went straight to debt collectors. So how did someone with such a successful career end up losing it all? The answer is simple: Tyson’s spending habits were out of control and he didn’t have much of a clue about financial planning. Known for his extravagant lifestyle in the 1980s and 1990s, Tyson was known to give six-figure gifts to strangers and make outrageous purchases.

He maintained a huge, overpaid staff and even owned a collection of Bengal tigers that reportedly cost him over $70,000 each — not including the cost of caring for them. In the 1990s alone, he spent more than $4.5 million on vehicles, plus another $300,000 on garden maintenance. Then there was his $4 million Las Vegas mansion, complete with nightclub and casino and $2 million gold-plated bathtub. With all of this in mind, it’s no wonder that Tyson eventually faced bankruptcy.

Mike Tyson, Partnerships, Businesses and Other Sources of Income

Fortunately for Mike Tyson, despite his bankruptcy, a slow but sure financial comeback has become apparent. Tyson has appeared on the big screen several times, the most popular cameo role being in the “Hangover” films, where he played himself and even had his tiger stolen by the main characters in one of them. He also starred in the popular sitcom “How I Met Your Mother” and others, which should have brought him quite a bit of money.

According to Celebrity Networth, Tyson charges $37,500 an hour for personal appearances at events, often in Las Vegas. He also had an exhibition match against Roy Jones Jr in 2020, which reportedly earned him $10 million. However, the former world champion’s biggest payday is yet to come as he gains social media stardom Jake Paul on November 15 at AT&T Stadium in Arlington, Texas.

He also had the podcast “Hotboxin with Mike Tyson” where he invited the biggest names including Eminem, Tyson Fury, Antonio Brown, Stephen A. Smith and Kat Williams. However, at the center of his huge financial comeback is his company Tyson 2.0 ca***bis, which has grown to a whopping net worth of $160 million. Not to mention it recently partnered with LF* Go.

Tyson’s other business ventures include a recent partnership with Mr. Charlie’s, clothing brand BYLT Basics, Futurola and more.

What is Mike Tyson net worth in 2024?

After entertaining fans with his bloody fights, movies, podcast series and what not, as of 2024 Tyson’s net worth sits comfortably at ten grand ($10 million). However, you may or may not be surprised to learn that he earned $443 million in his boxing career alone — talk about walks, huh?

Not to mention that some of his legendary fights are still considered the biggest winners to this day, including Lennox Lewis fight where he reportedly took home $103 million. Tyson also cashed in a hefty payday from his two fights vs Evander Holyfielda total of $60 million. If only Tyson was better at finance—he could give Floyd Mayweather a run for his “money” – if you catch the drift.

Having said that, despite what has happened to him in the past, Mike Tyson has turned his fortunes around to still be considered one of the most financially successful boxers. Also, given the waves he’s making online, it shouldn’t be a surprise if his net worth goes up in the coming days. What do you think of Tyson’s journey?