Mike Tyson Opens Up About Losing $55 Million Because He Couldn’t Afford to Pay His Lawyers

Mike Tyson is a name that resonates with both greatness and controversy. Known as one of the most ferocious boxers in history, Tyson’s rise to stardom was meteoric. Tyson’s greatness in the ring cannot be overstated. At just 20 years old, he became the youngest heavyweight champion in history, capturing the title in 1986.

However, amidst the glory and success, Tyson faced numerous legal troubles that tarnished his reputation. Recently, Tyson opened up about one case. In an episode of Hotboxin’ with Mike Tyson, he opened up about the time he lost $55 million after being unable to pay his lawyers.

Mike Tyson shares his story of losing $55 million dollars

J Balvin recently appeared on Tyson’s podcast as a guest. During one segment of the podcast, Tyson shared the story about the time he was betrayed. Tyson stated that he “got caught up” with a case, where “this guy played me for what-like 80 million?” Tyson recalled the devastating financial loss as he had to make do with just 25. Facing the burden of expensive legal battles, Tyson reluctantly settled the case for a reduced amount of $25 million.

He further shared that its because he didn’t want to pay a lot of money to his lawyers. And he wanted to keep the money he’s getting paid. His co-host, DJ Whoo Kid empathized with Tyson’s ordeal. The Brooklyn native further asked his guest if he had been through “that stage in your career when you trust somebody, and they play you dirty.” Balvin agreed and shared his own disappointment in the music industry’s prevalence of individuals using others for personal gain while pretending to be friends. Furthermore, he said, “Being grateful and loyal is all I need and that’s all I ask when you have a friendship.” He believes in expecting loyalty from those around him.

Tyson’s $100 Million lawsuit against Don King

It is unknown which lawsuit Tyson is talking about in the above video. However, the details seem similar to the time he sued his former promoter Don King for a whopping $100 million. He had claimed that King allegedly stole the amount from him while promoting him after he got out of prison. In the end, Tyson managed to settle for an amount of $14 million. However, it all went towards paying his $38.4 million debt at the time.

It is possible that Tyson might have changed the numbers a little intentionally. Furthermore, during another episode of Hotboxin’ with Mike Tyson, back in 2020, he revealed how he kicked King in the back of his head while they were in a car. Tyson revealed that King hit the brakes, and the former world heavyweight champion started beating him in the car.

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“I’m trying to get the girl in the front seat to hold him, so he can’t run because I couldn’t [hit] him the way I wanted to. As soon as I let him go he got out of the car. I tried to run across, and he did a little back turn and got back in the front, drove off, and left me on the highway,” he said. What do you think about Tyson’s recollection of the event? Do you think he was referring to the Don King lawsuit? Share your thoughts in the comments below.

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