When it came to knocking out chumps in rapid succession, not many could match legendary heavyweight boxer “Iron” Mike Tyson. When it came to knocking out checks, he was just as prolific. At one point in time, Mike had $300 million in the bank and is said to have earned $400 million in total. But he blew it all in spectacular fashion.
From fleets of luxury vehicles and entourages larger than the population of Luxembourg to Siberian tigers running around the garden and harems of hookers chillin’ back in the 21-bedroom crib, there are not many things Mike didn’t sample at the peak of his prowess.
From Humble Beginnings to the Top of the World
Flamboyant soul music singer Rick James once said: “Cocaine is one hell of a drug.” The same could be said of money and fame. What normal person goes from having $300 million in the bank to almost $50 million in debt in just over 10-years? The answer? No normal person.
Mike Tyson is arguably ranked in the top-15 heavyweight boxers to ever step foot into the gladiatorial arena, but he’s ranked much higher in the pound-for-pound spectacular spending stakes.
Mike went from an impoverished upbringing in late-1970s brutal Brownsville, New York, to becoming the youngest heavyweight champion of all-time, a household name and the most feared man on Planet Earth. He did all this before his 22nd birthday. He simply didn’t have the tools or coping mechanisms to deal with such attention, fame or money.
Spending Millions the Mike Tyson Way
From his professional boxing debut in 1985 until shockingly losing his title to Buster Douglas in 1990, life for Mike Tyson was going well by his own standards. Then it all started to go downhill.