Key Takeaways:
– Mike Tyson is set to face off against 27-year-old Jake Paul in a Netflix live-streamed event.
– Tyson’s estimated net worth is $10 million.
– He faced bankruptcy in 2003, having spent extravagantly on lifestyle commodities.
– Tyson served prison time, was convicted of rape, and maintains a registered sex offender status under federal law.
– His last professional boxing bout was in 2005.
– For the upcoming fight against Jake Paul, Tyson is expected to earn around $20 million.
Former Boxing Champion, Mike Tyson Returns to the Ring
One of the most renowned figures in boxing, Mike Tyson, is making his return to the ring. Despite his rocky past with controversies and financial troubles, the 58-year-old Tyson is set to fight the internet sensation and professional boxer, Jake Paul, in a highly-anticipated Netflix live-streamed event.
The Two Sides of Mike Tyson’s Net Worth
As Tyson prepares for his upcoming fight, questions resurface about his financial history. Currently, Tyson’s net worth is estimated at $10 million, a far cry from the reported $400 million he earned throughout his boxing career.
The retired heavyweight champion filed for bankruptcy in 2003. Critical to his financial downfall was his extravagant spending habit. Tyson was notoriously known for splurging $4.5 million on cars and motorcycles, a number of which were gifts for his friends. Alongside this, he also lavished $400,000 on pigeons and exotic pets, including Siberian tigers.
At the time of his bankruptcy declaration, Tyson carried a debt of $27 million and had assets whose worth varied between $10 and $50 million. Part of this debt included owing $51,000 in back child support.
Tyson’s History of Legal Struggles
Apart from his financial ups and downs, Tyson has had a fair share of legal troubles. In July 1991, Tyson was sentenced to six years in prison after being convicted of raping 18-year-old Desiree Washington. Despite proclaiming his innocence, Tyson spent about three years in jail before being released on parole. As per federal law, he is required to register as a sex offender for the rest of his life.
Getting Back in the Game after a Long Absence
Tyson’s last professional fight dates back to 2005, where he suffered a loss to Kevin McBride. However, the ex-champion has participated in some exhibition matches, with his 2020 bout against Roy Jones Jr. ending in a split draw.
Speculations on the Earnings from the Upcoming Fight
While the exact amount Tyson will receive from the forthcoming match remains undisclosed, online estimations suggest that he might make close to $20 million. This is a significant reduction as compared to his earlier earnings which saw him making nearly $30 million for each match post his parole in 1995.
Weighing in on the other side of the ring, Jake Paul is expected to pocket $40 million from the fight. Boasting 27 million Instagram followers, Paul is also co-founding Most Valuable Promotions (MVP), the company that’s partnering with Netflix to promote the event.
The Showdown between Tyson and Paul
Boxing enthusiasts can look forward to eight, two-minute rounds of action between Tyson and Paul. Tyson’s recovery and resilience, both within and outside the ring, make this a monumental event in the former champion’s turbulent career. However, it remains to be seen who will have the upper hand in this highly-anticipated match. Whatever the outcome, this event is set to be a significant highlight in Tyson’s later career and a defining moment in Paul’s rising boxing profile.