His current net worth is set at over $10 million

Mike TysonLAPRESSE

Mike Tyson‘s financial troubles in the late 1990s led to a bankruptcy filing in 2003, a situation that would have ended most careers. However, Tyson’s journey to recover his legacy and finances involved diversifying his income through various channels, including entertainment and business ventures.

Tyson currently holds a net worth of over $10 million according to Celebrity Net Worth. This is a significant decline from his peak earnings, yet it demonstrates his ability to bounce back and maintain relevance.

Mike Tyson reappears with a scary video to Jake Paul

The financial struggles

Tyson‘s financial decline began after leaving professional boxing, compounded by a stint in prison and continued fighting until 2005 despite waning interest.

His extravagant spending in the 1980s and 1990s, including costly gifts, exotic pets, and a large entourage, depleted his fortune.

A significant financial blow came from his partnership with promoter Don King, who allegedly misappropriated millions from Tyson’s earnings. Despite declaring bankruptcy in 2003, Tyson managed to rebuild his wealth through strategic appearances in movies and TV shows, personal appearances, and exhibition matches, proving his resilience.

His comeback

Tyson’s comeback involved leveraging his fame in various entertainment roles, such as in “The Hangover” series and “Mike Tyson Mysteries.”

He also charges substantial fees for personal appearances, particularly in Las Vegas, enhancing his income. In 2020, Tyson participated in a high-profile exhibition match against Roy Jones Jr., generating significant revenue and leading to another planned fight with Jake Paul.

This match, initially scheduled for July 2024, has been postponed to November and will be broadcast on Netflix. These ventures highlight Tyson’s successful reinvention and his ability to capitalize on his enduring popularity.