Renowned boxer Mike Tyson [https://www.essentiallysports.com/tag/mike-tyson/], who is recognized as one of the all-time greats in his profession, recently opened up to Boxing King Media during an interview about his problems with poverty. Tyson explained how he was able to create a fortune worth millions by the age of 22 in an unexpected disclosure. In addition, the distinguished boxer revealed fascinating perspectives regarding the mindset of prosperous boxers and his assimilation of their blunders as lessons to guarantee his exemption from penury and obscurity like those who preceded him. Nonetheless, the most astounding facet of the conversation was Tyson’s distinctive outlook on money management and how it shaped his professional trajectory. MIKE TYSON ON HIS EXPERIENCE WITH WEALTH AND SUCCESS Mike Tyson recently did a podcast with Boxing King Media where he spoke candidly about his personal experiences with money, fame, and the boxing industry. During the podcast, Tyson opened up about his struggles with managing his wealth and how it affected his life and career. “I’m from poverty. I’ve been used and abused. Where you can use a human being, I have been used,” Tyson said. “And all of a sudden, say I got a $60 Million and I’m 22 years old, and I have nobody to tell me Hey Mike put that in the high heel account, because I never knew money. The only thing I knew, that fighters at the end of the day, we finish with nothing.” Tyson also shared how he studied the lives of successful boxers like Gene Tunney and John Morrissey, who were able to retire with money and maintain their wealth after their careers were over. “Those are the only two guys that I know that were successful and had money and their money lived longer than them. They weren’t the greatest fighters in the world. But had a great team, those guys. Those two guys that retired with money, nobody knew who the f*ck they are. You know all the broke guys, are they all the guys that died, broke and home poor? The whole world know their name. I said i’m gonna beat these guys.” Tyson also discussed how he had a difficult time trusting banks and never wanted to spend his money, fearing he would end up like other boxers who finished their careers with nothing. “The only thing I knew, that fighters at the end of the day, we finish with nothing. I studied all the great fighters. I said I’m gonna beat these guys that finish with nothing, and the world’s gonna know my name,” Tyson said. Mike Tyson [https://image-cdn.essentiallysports.com/wp-content/uploads/GettyImages-1288364299.jpg]LOS ANGELES, CALIFORNIA – NOVEMBER 28: Mike Tyson celebrates after receiving a split draw against Roy Jones Jr. in the locker room during Mike Tyson vs Roy Jones Jr. presented by Triller at Staples Center on November 28, 2020 in Los Angeles, California. (Photo by Joe Scarnici/Getty Images for Triller) In conclusion, Mike Tyson’s podcast with Boxing King Media sheds light on the struggles that come with sudden fame and fortune. Tyson’s experience highlights the importance of financial literacy and having a trusted team to manage wealth. Recently, in an episode of his podcast Hotboxin’, he talked about how inflation led him to bankruptcy [https://www.essentiallysports.com/boxing-news-despite-400-million-net-worth-in-the-90s-mike-tyson-reveals-how-inflation-killed-him/]. Boxing [https://www.essentiallysports.com/boxing-ufc-mma-news-mike-tyson-reveals-why-bad-guys-are-financially-successful-in-boxing/]

Discover the story of 22-year-old Mike Tyson and how he felt lost despite having
$60 million. Learn from his mistakes.

Mrinal Mishra is a Boxing writer at EssentiallySports, who is dedicated to
covering live events with a special emphasis on influencer boxing events. With a
focus on storytelling, Mishra strives to bring to light the stories of fighters
that often go untold. As a big fan of Mike Tyson, Mishra believes that boxing
will remain relevant for eternity, and he is committed to covering the sport
with the respect and admiration it deserves. Outside of his writing, he enjoys
leading a healthy lifestyle, hitting the gym regularly, and staying up-to-date
with the latest developments in the world of boxing.

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‘Used and Abused,’ 22-Year-Old Mike Tyson Felt Lost Despite $60 Million in His
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Mike Tyson

Mike Tyson&#8217;s Net Worth 2024, Salary, Partner, Family, and More Who is Mike Tyson? Michael Gerard Tyson, widely known as Mike Tyson, is an American former professional boxer, often celebrated as one of the most fearsome fighters in heavyweight boxing history. Nicknamed &#8220;Iron Mike&#8221; for his raw power and aggressive style, Tyson dominated the boxing world in the 1980s and became the youngest heavyweight champion at the age of 20. His terrifying persona and unpredictable temperament led him to be known as &#8220;The Baddest Man on the Planet.&#8221; Tyson&#8217;s career, spanning from 1985 to 2005, is marked by both astonishing victories and deeply controversial moments, such as his infamous 1997 &#8220;Bite Fight&#8221; against Evander Holyfield. At the height of his boxing fame, he was one of the wealthiest athletes in the world. NY: Mike Tyson vs. Jake Paul boxing fight press conferece at Fanatics Fest NYC 2024 Mike Tyson attending Tyson vs. Paul boxing fight press conference at Fanatics Fest NYC 2024 at Javits Center in New York, NY on August 18, 2024. New York Javits Center NY USA NOxUSExINxGERMANY PUBLICATIONxINxALGxARGxAUTxBRNxBRAxCANxCHIxCHNxCOLxECUxEGYxGRExINDxIRIxIRQxISRxJORxKUWxLIBxLBAxMLTxMEXxMARxOMAxPERxQATxKSAxSUIxSYRxTUNxTURxUAExUKxVENxYEMxONLY Copyright: xSipaxUSAx Editorial use only sipausa_55340544 Tyson&#8217;s personal life and career have seen drastic highs and lows. Raised in a tough Brooklyn neighborhood, he encountered challenges that shaped his life both inside and outside the ring. Tyson’s explosive fighting style, grounded in his legendary “Peek-a-Boo” defense technique, made him an intimidating presence, often winning fights by knockout in the early rounds. Despite his achievements, his life has also been marked by legal issues, financial troubles, and personal struggles, making his story one of resilience, reinvention, and redemption. Mike Tyson’s Early Life Born on June 30, 1966, in Fort Greene, Brooklyn, New York, Mike Tyson&#8217;s early life was fraught with difficulties. His father, Purcell Tyson, abandoned the family when Mike was young, leaving his mother, Lorna Smith, to raise him and his two siblings, Rodney and Denise, on her own. Tyson’s early childhood was shaped by the challenges of growing up in a crime-heavy neighborhood, often witnessing violence and poverty. Frequent moves and financial instability left Tyson with a chaotic and troubled upbringing. By age ten, Tyson had moved with his family to Brownsville, Brooklyn, known as one of the most dangerous areas in New York City. Tyson&#8217;s aggressive streak became apparent early on, and he quickly earned a reputation as a fierce street fighter. By age 13, he had been arrested 38 times for petty crimes, many related to his involvement in local gangs. Tyson’s life took a positive turn when he was placed in the Tryon School for Boys, a juvenile detention center in Johnstown, New York. There, a counselor named Bobby Stewart, who was also an amateur boxing champion, noticed Tyson’s potential. Stewart introduced Tyson to legendary boxing trainer Cus D&#8217;Amato, who became a father figure to the young fighter and took him under his wing. D&#8217;Amato saw raw talent in Tyson and believed he had the potential to become the heavyweight champion of the world. The trainer&#8217;s guidance and discipline laid the foundation for Tyson’s future boxing career and eventual stardom. Image Credits &#8211; Cus D&#8217;Amato Boxing Club (Instagram) Mike Tyson’s Wife, Kids and Former Partners The 58-year-old has been married three times and is the father of seven children, including the late Exodus Tyson, who tragically passed away in 2009. His first marriage was to actress Robin Givens in 1988. The relationship quickly became troubled, with allegations of domestic abuse and erratic behavior leading to a highly publicized divorce in 1989. Givens described Tyson as volatile and abusive, and their split was covered extensively by the media, adding fuel to Tyson’s image as a controversial figure. Tyson’s second marriage was to pediatrician Monica Turner, whom he married in 1997. The couple had two children, Amir and Rayna, but divorced in 2003 due to Tyson’s infidelity. Despite the split, Turner has spoken positively about Tyson’s role as a father. In 2009, Tyson married Lakiha &#8220;Kiki&#8221; Spicer, and they have two children together, Morocco and Milan. Spicer has been a steady influence in Tyson’s life, helping him through personal and financial hardships. Press conference film Bunny-Man. Turin, Italy 07 Feb 2024 Mike Tyson and wife Lakiha Spicer during press conference movie Bunny-Man. Turin, Italy 07 February 2024, PUBLICATIONxNOTxINxUKxFRAxUSA Copyright: xGiulioxLaponexSyncx/xAvalonx 0844275651 In addition to his marriages, Tyson has had relationships with several women, including Kimberly Scarborough, with whom he has a daughter named Mikey Lorna Tyson. His relationship with Sol Xochitl produced two children, Miguel Leon Tyson and Exodus Tyson. Tragically, Exodus passed away at the age of four in 2009 after a tragic accident involving a treadmill cord. This incident deeply affected Tyson, marking one of the most sorrowful moments in his life. Mike Tyson’s Net Worth 2024 As of 2024, Mike Tyson’s net worth is estimated at $10 million. Tyson’s earnings from boxing were once astronomical, reaching an estimated $400 million in total. During his peak, he was among the wealthiest athletes globally, raking in millions from fights and endorsements. However, extravagant spending, legal issues, and poor financial management led Tyson to declare bankruptcy in 2003. He reportedly owed nearly $23 million to various creditors, including the IRS, after years of high living and costly lawsuits. UNDATED: Mike Tyson holds two fists full of money and poses for cameras next to Don King during a press conference. (Photo by Focus on Sport/Gettty Images) Since then, Tyson has rebuilt his wealth through a mix of business ventures, endorsements, and public appearances. His 2020 exhibition match against Roy Jones Jr. drew significant pay-per-view sales, bringing in around $80 million. Tyson also launched his cannabis brand, Tyson 2.0, which has become one of his most lucrative ventures, generating roughly $900,000 monthly. This, combined with endorsements and his podcast Hotboxin&#8217; with Mike Tyson, has allowed him to stabilize his financial status and regain some of his wealth. Mike Tyson’s Career Timeline 1985: Mike Tyson’s professional career began on March 6, when he knocked out Hector Mercedes in the first round. Tyson went on to win his first 19 fights by knockout, 12 of them in the very first round, which quickly established his reputation as a fearsome contender. 1986: Tyson claimed his first title, the WBC heavyweight championship, on November 22, after defeating Trevor Berbick by TKO in the second round. This victory made him the youngest heavyweight champion in boxing history at the age of 20 years and 4 months. 1987: Tyson unified the heavyweight division, winning the WBA and IBF titles and becoming the undisputed heavyweight champion of the world. He was widely regarded as the most formidable boxer of his era. 1988: Tyson successfully defended his titles against top fighters, including Larry Holmes and Tony Tubbs, reinforcing his position as the reigning champion. (Original Caption) 1/22/1988-Atlantic City, NJ Ferocious faced Mike Tyson lands the knockout punch to the jaw of challenger Larry Holmes during fourth round of the World Heavyweight Championship. (via Getty Images) 1990: In a stunning upset on February 11, James &#8220;Buster&#8221; Douglas knocked out Tyson in the tenth round at the Tokyo Dome in Tokyo, Japan, ending his undefeated streak. Tyson&#8217;s defeat to Douglas remains one of the most shocking moments in boxing history. 1992-1995: Tyson was convicted of assaulting model Desiree Washington in 1992 and sentenced to six years in prison. He served three years before being released in 1995.  1996: Tyson reclaimed the WBC and WBA heavyweight titles in his comeback, defeating Frank Bruno and Bruce Seldon. Later that year, he faced Evander Holyfield, losing by TKO in the 11th round. 1997: Tyson’s rematch with Holyfield became infamous as the &#8220;Bite Fight.&#8221; Tyson was disqualified for biting Holyfield’s ear, resulting in the Nevada State Athletic Commission revoking his boxing license and fining him $3 million. 2002: On June 8 in Memphis, Tennessee, Mike Tyson fought Lennox Lewis in a heavyweight title bout that drew 1.95 million pay-per-view buys, ranking among the era&#8217;s highest-grossing events. Lewis leveraged his 84-inch reach and technical skill, dominating the match and knocking out Tyson in the eighth round to retain his WBC, IBF, and IBO titles. This marked Tyson’s final bid for a heavyweight title, solidifying Lewis&#8217;s legacy while concluding a significant chapter in Tyson&#8217;s career. 2005: After consecutive losses, Tyson retired from professional boxing. His last match was against Kevin McBride, where he retired in the sixth round. 2020: Tyson returned to the ring for an exhibition match against Roy Jones Jr. Despite ending in a draw, the match drew immense viewership, reflecting Tyson’s enduring popularity. Boxing: Tyson vs Roy Jones Jr, Nov 28, 2020 Los Angeles, CA, USA Mike Tyson black trunks fights Roy Jones, Jr. white trunks during a heavyweight exhibition boxing bout for the WBC Frontline Belt at the Staples Center. Mandatory Credit: Joe Scarnici/Handout Photo via USA TODAY Sports, 28.11.2020 21:10:17, 15246710, Boxing, NPStrans, Staples Center, Roy Jones Jr, Mike Tyson, Roy Jones, TopPic PUBLICATIONxINxGERxSUIxAUTxONLY Copyright: xJoexScarnicix 15246710 2024: Almost 20 years after his retirement Mike Tyson is about to return to the professional sphere, one last time for a match against 27-year-old YouTuber-turned-boxer Jake Paul. The fight is scheduled for Friday, November 15, 2024, at the home of the Dallas Cowboys at the AT&amp;T Stadium in Arlington, Texas. Organized and promoted by Jake Paul&#8217;s Most Valuable Promotions (MVP), the event will be broadcast live on Netflix, marking the platform’s entry into high-profile boxing broadcasts. ARLINGTON, TEXAS &#8211; MAY 16: (L-R) Mike Tyson, Nakisa Bidarian and Jake Paul pose onstage during the Jake Paul vs. Mike Tyson Boxing match Arlington press conference at Texas Live! on May 16, 2024 in Arlington, Texas. (Photo by Cooper Neill/Getty Images for Netflix) Mike Tyson’s Partnerships and Endorsements Over the years, Tyson has collaborated with several prominent brands, leveraging his fame and boxing legacy. In his early career, Tyson endorsed Pepsi, Nintendo, and Toyota. In recent years, Tyson has endorsed Black Energy Drink, CopperGel, and Smart Cups. He also has partnerships with Futurola, a company offering premium smoking accessories like pre-rolls and cones, and Zumiez, a fashion brand. Tyson’s influence expanded with his Hotboxin’ with Mike Tyson podcast, where he interviews celebrities and athletes. His brand, Tyson Pro, offers performance athletic gear, while the MT Collection includes official Tyson merchandise. These partnerships underscore Tyson’s influence in various industries, from sportswear to lifestyle products. There is another partnership that Mike Tyson had. This was with legendary boxing promoter, Don King. Don King became involved with Tyson around the time Tyson became the undisputed heavyweight champion in 1987. Tyson was initially managed by Cus D&#8217;Amato and then later by Jim Jacobs and Bill Cayton. After the death of Jacobs in 1988, Don King moved in as a mentor and promoter, positioning himself as a father figure for Tyson. King saw an opportunity in Tyson&#8217;s rising stardom and quickly became his promoter. King promised Tyson greater control over his career and higher earnings. Tyson, drawn by King&#8217;s charismatic presence and promises, eventually parted ways with Cayton, putting his career in King’s hands. (Original Caption) Mike Tyson, Don King, and Mohammed Ali, all clasping hands wearing tuxedos in the boxing ring at the Las Vegas Hilton. During their partnership, King arranged some of the highest-grossing fights of Tyson’s career, including bouts against Frank Bruno and Evander Holyfield. Under King’s guidance, Tyson achieved extraordinary fame and wealth, with King reportedly taking a significant percentage of Tyson’s fight earnings. Despite this, Tyson trusted King during these peak years, relying on him as both a promoter and confidant. The relationship began to deteriorate in the early 1990s, especially after Tyson was convicted and imprisoned for assault in 1992. Upon his release in 1995, Tyson’s suspicions about King’s management practices grew. Tyson eventually accused King of exploiting him financially, alleging that King had taken millions from his earnings and engaged in unethical practices. In 1998, Tyson filed a $100 million lawsuit against King, claiming financial exploitation and breach of trust. The suit was settled out of court for a reported $14 million, but Tyson severed ties with King permanently, referring to him in later years as &#8220;ruthless&#8221; and &#8220;deceptive&#8221;. Mike Tyson’s Investments Mike Tyson&#8217;s most profitable investment is in the cannabis industry, where he launched Tyson 2.0, his cannabis brand. His unique product, “Mike Bites,” cannabis edibles shaped like an ear, references the infamous “Bite Fight” with Holyfield. Tyson 2.0 has proven to be financially successful, generating roughly $900,000 monthly. Today, the brand is worth more than $16 million. The brand expanded to include a line called “Holy Bites” in partnership with Evander Holyfield. Tyson 2.0 also partnered with Ric Flair’s “Ric Flair Drip” brand, increasing its market reach and appeal. TAMPA, FLORIDA &#8211; FEBRUARY 06: Mike Tyson attends Migos Big Game Weekend at WTR Pool and Grill on February 06, 2021 in Tampa, Florida. (Photo by Johnny Nunez/Getty Images) Another notable investment is Tyson Ranch, where Tyson oversees the production and distribution of cannabis products. This venture is part of his broader involvement in the wellness and lifestyle sectors, aimed at normalizing cannabis use and reducing the stigma around it. Mike Tyson’s Career Stats Next fight: Nov. 15 vs. Jake Paul Record: 50-6, 44 KOs DOB: June 30, 1966 Age: 58 Stance: Orthodox Reach: 71 inches Height: 5-foot-10  Date Opponent Result   05/11/2005 Kevin McBride L, TKO6  07/30/2004 Danny Williams L, KO4  02/22/2002 Clifford Etienne W, KO1  06/08/2002 Lennox Lewis L, KO8  10/13/2001 Brian Nielsen W, TKO6  10/20/2000 Andrew Golota NC, no contest 2  06/24/2000 Lou Savarese W, TKO1  01/29/2000 Julius Francis W, TKO2  10/23/1999 Orlin Norris NC, no contest 1  01/16/1999 Frans Botha W, KO5  06/28/1997 Evander Holyfield L, DQ3  11/09/1996 Evander Holyfield L, TKO11  09/07/1996 Bruce Seldon W, TKO1  03/16/1996 Frank Bruno W, TKO3  12/16/1995 Buster Mathis Jr. W, KO3  08/19/1995 Peter McNeeley W, DQ1  06/28/1991 Donovan Ruddock W, UD12  03/18/1991 Donovan Ruddock W, TKO7  12/08/1990 Alex Stewart W, TKO1  06/16/1990 Henry Tillman W, KO1  02/11/1990 James &#8220;Buster&#8221; Douglas L, KO10  07/21/1989 Carl Williams W, TKO1  02/25/1989 Frank Bruno W, TKO5  06/27/1988 Michael Spinks W, KO1  03/21/1988 Tony Tubbs W, TKO2  01/22/1988 Larry Holmes W, TKO4  10/16/1987 Tyrell Biggs W, TKO7  08/01/1987 Tony Tucker W, UD12  05/30/1987 Pinklon Thomas W, TKO6  03/07/1987 James Smith W, UD12  11/22/1986 Trevor Berbick W, TKO  09/06/1986 Alfonzo Ratliff W, TKO2  08/17/1986 Jose Ribalta W, TKO10  07/26/1986 Marvis Frazier W, TKO1  07/11/1986 Lorenzo Boyd W, KO2  06/28/1986 William Hosea W, KO1  06/13/1986 Reggie Gross W, TKO1  05/20/1986 Mitch Green W, UD10  05/03/1986 James Tillis W, UD10  03/10/1986 Steve Zouski W, KO3  02/16/1986 Jesse Ferguson W, TKO6  01/24/1986 Mike Jameson W, TKO5  01/11/1986 David Jaco W, TKO1  12/27/1985 Mark Young W, TKO1  12/06/1985 Sammy Scaff W, TKO1  11/22/1985 Conroy Nelson W, TKO2  11/13/1985 Eddie Richardson W, KO1  11/01/1985 Sterling Benjamin W, TKO1  10/25/1985 Robert Colay W, KO1  10/09/1985 Donnie Long W, TKO1  09/05/1985 Michael Johnson W, KO1  08/15/1985 Lorenzo Canady W, KO1  07/19/1985 Larry Sims W, KO3  07/11/1985 John Alderson W, TKO2  06/20/1985 Ricardo Spain W, TKO1  05/23/1985 Don Halpin W, KO4  04/10/1985 Trent Singleton W, TKO1  03/06/1985 Hector Merced W, TKO1   NEW YORK, NEW YORK &#8211; MAY 13: Mike Tyson and Jake Paul attend the Jake Paul vs. Mike Tyson press conference at The Apollo Theater on May 13, 2024 in New York City. (Photo by Shareif Ziyadat/Getty Images) Tyson’s aggressive “Peek-a-Boo” fighting style was central to his dominance. The technique, taught to him by Cus D’Amato, involved holding his gloves close to his face and constantly bobbing and weaving to evade opponents’ punches. This allowed Tyson to close in on his opponents and deliver devastating knockout punches, often ending fights early. Mike Tyson’s Charity and Foundation Mike Tyson has contributed to several charitable causes over the years, including his own Mike Tyson Cares Foundation, which provides support for at-risk youth. The foundation’s initiatives focus on healthcare, education, and housing, providing a safe environment for children from troubled backgrounds. Tyson has also participated in various events and made donations to support different causes, reflecting his desire to give back to the community despite his turbulent past. Mike Tyson’s House Mike Tyson currently resides in Henderson, Nevada, a suburban area near Las Vegas. His residence is considerably more modest than the luxurious mansions he owned during his prime. Tyson previously owned a mansion in Connecticut that included a nightclub, casino, and indoor pool, among other extravagant features. He also owned properties in Ohio, Maryland, and Nevada. Following his bankruptcy, Tyson sold many of these properties, including his Connecticut mansion, which was later purchased by rapper 50 Cent. Mike Tyson’s Social Media Accounts Tyson maintains an active presence on social media, where he shares updates on his life, career, and business ventures.  Instagram @miketyson  Twitter @MikeTyson  Facebook Mike Tyson  YouTube Mike Tyson Official  Website shopmiketyson.com/collections/all  Personal Information  Full Name Michael Gerard Tyson  Popular Name Mike Tyson  Nickname &#8220;Iron Mike&#8221;  Date Of Birth June 30, 1966  Birth Place Fort Greene, Brooklyn, New York  Age 58  Height 1.78 m (5&#8217;10&#8221;)  Weight Approximately 220 lbs (100 kg)  Parents Lorna Smith and Purcell Tyson  Siblings Rodney Tyson, Denise Tyson, and half-brother Jimmie Lee Kirkpatrick  Nationality American  Ethnicity African American  Net Worth Estimated $10 million (2024)  Salary &#8211;  Spouse Lakiha “Kiki” Spicer (married in 2009)  Relationship/Marital Status Married  Children Miguel Leon Tyson, Mikey Lorna Tyson, Milan Tyson, Morocco Tyson, Exodus Tyson (deceased), Amir Tyson, Ramsey Tyson  Profession Former professional boxer, actor, entrepreneur  Team Managed and trained by Cus D’Amato during his early career  Titles Undisputed heavyweight champion (1987-1990), youngest heavyweight champion in boxing history

‘Used and Abused,’ 22-Year-Old Mike Tyson Felt Lost Despite $60 Million in His Possession

Mike Tyson on his experience with wealth and success